- Hyphens Pharma (SGX:1J5)'s FY24 revenue and net profit were 4.2% and 6.9% higher than our forecast, respectively. Revenue was up 14.6% y-o-y to S$195.4m, with the specialty pharma principals segment being the primary growth driver with a 21.6% y-o-y increase.
FY2024 results within expectations.
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- Gross profit margin fell marginally from 36.3% in FY2023 to 35.6% in FY2024 with increase in cost from suppliers.
- Net profit increased by 26.5% y-o-y to S$10.9 million.
- Hyphens Pharma has proposed a final dividend of S1.50 cents per share for FY2024, reflecting a payout of 45.4% of the net profits attributable to shareholders. See Hyphens Pharma's dividend dates.
Business Highlights.
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- The Specialty Pharma segment, which saw the strongest performance, grew 21.6% y-o-y to S$124.2 million, supported by exclusive licensing agreements for Wynzora® Cream and Amenalief® in ASEAN.
- The Medical Aesthetics segment gained traction with the launch of Plinest® in Indonesia, the Philippines, and Thailand, and NCTF® in Singapore and Malaysia.
- The Medical Hypermart & Digital segment posted 2.1% y-o-y growth to S$43.6 million, driven by increasing adoption of DocMed’s POM B2B platform and WellAway e-pharmacy, which surpassed 100,000 e-prescriptions.
- Additionally, the Ardence Pharma acquisition contributed S$7.2 million to revenue, validating Hyphens Pharma’s inorganic growth strategy.
Outlook.
- Read more at SGinvestors.io.
Daniel Ng Ming Ci SAC Capital Research | Matthias Chan SAC Capital Research | https://www.saccapital.com.sg/ 2025-03-10
Previous report by SAC:
2024-08-22 Hyphens Pharma International - Commendable Growth Amid Economic Headwinds.
Price targets by 2 other brokers at Hyphens Pharma Target Prices.
Listing of research reports at Hyphens Pharma Analyst Reports.
Relevant links:
Hyphens Pharma Share Price History,
Hyphens Pharma Announcements,
Hyphens Pharma Dividend Payout Dates & Corporate Actions,
Hyphens Pharma News
