Keywords
Annual report
Delivering strong performance in 2022
20/02/2023
Corporate news
Annual Report 2022
Financial results
"This strong growth was made possible by the continuing engagement and commitment of Octapharma employees around the globe, who have worked tirelessly to increase plasma collection, drive production, ensure the safe and timely delivery of our products, and engage with our customers and patients around the world."
Roger Mächler
Chief Financial Officer
The Octapharma Group once again delivered strong results in a challenging environment in 2022, with record sales, operating income, income before tax and net income. Sales increased by 13.7% to €2.854 billion, compared to the prior year, and the company generated an operating income of €522 million.
These strong results came against the backdrop of soaring inflation and continuing supply chain disruptions resulting from the war in Ukraine and the increase in global trade in the aftermath of COVID restrictions. While these factors contributed to higher cost of sales of €1.921 billion compared to €1.702 billion in 2021, this was offset by a strong recovery in plasma collection and continuing strong demand for our products – most notably our immunoglobulin portfolio, fibryga®, wilate® and Nuwiq®.
Gross profit in 2022 was €933 million, up 15.5% from the prior year and gross margin increased by 0.5 percentagepoints to 32.7%. Operating expenses for the year increased to €412 million from €349 million in 2021. Income before tax was a record €503 million and net income a record €448 million, up from €438 million in 2021. Net cash from operating activities was €324 million. Our capital position remains extremely strong, with an equity ratio of 80.1%.
This strong growth was made possible by the continuing engagement and commitment of Octapharma employees around the globe, who have worked tirelessly to increase plasma collection, drive production, ensure the safe and timely delivery of our products, and engage with our customers and patients around the world. Their dedication has positioned our company strongly for future growth.
As we celebrate 40 years of Octapharma in 2023, we intend to build on that strength by optimising our plasma collection costs whilst maintaining strong plasma collection volumes, streamlining our operations, and increasing the utilization of our new fractionation line in Springe. We will also continue to attract and retain the best talent by investing in our people.
We are confident that this will allow us to maintain our strong track record of year-on-year growth in 2023 and the years to come.