Hikma Pharmaceuticals PLC announced its final results for the year ended December 31, 2025, highlighting significant growth in revenue and profit, along with strategic leadership changes and a share buyback program. Here’s a summary of the key points
### **Financial Performance**
**Revenue Growth**Group revenue increased by 7% to $3,349 million (6% in constant currency), driven by strong performance in Branded and Hikma Rx businesses, and growth across all geographies (North America, MENA, and Europe).
**Profit Growth**Profit attributable to shareholders rose by 12% to $402 million, with core operating profit up 3% to $741 million.
**Margins**Resilient margins were maintained despite challenges in the Injectables business.
**Dividend and Share Buyback**A 5% increase in the total dividend to 84 cents per share and a $250 million share buyback program were announced, reflecting strong cash flow generation and confidence in future growth.
### **Business Segment Performance**
**Injectables**Core revenue grew by 7%, but core operating profit declined by 6% due to geographic and product mix challenges. Efforts are underway to address these issues.
**Branded**Revenue increased by 10%, with core operating profit up 19%, driven by strong performance in oncology and diabetes products.
**Hikma Rx**Revenue remained flat, but core operating profit increased by 5%, supported by complex products like generic Advair Diskus®.
### **Strategic Progress**
**Product Launches**Launched 84 products globally, including Tyzavan® in the US and the first biosimilar product, ustekinumab.
**Partnerships**Expanded partnership with Celltrion in MENA for six additional biosimilars.
**Geographic Growth**Double-digit growth in Europe Injectables and continued success in MENA with products like palbociclib and dapagliflozin.
### **Leadership Changes**
**Said Darwazah**Stepped down as Executive Chairman to focus exclusively on the CEO role.
**Victoria Hull**Appointed as Chair of the Board.
**Mazen Darwazah**Became Deputy CEO, MENA, overseeing all MENA activities.
**Khalid Nabilsi**Appointed Deputy CEO, North America and Europe, and stepped down as CFO.
**Areb Kurdi**Acting CFO while the search for a new CFO is ongoing.
**Hafrun Fridriksdottir**Expanded role to include management of Injectables commercial activities in the US.
### **2026 Outlook**
**Revenue Growth**Expected to be in the range of 2% to 4%.
**Core Operating Profit**Projected between $720 million and $770 million.
**Segmental Outlook**Injectables revenue to grow in low single digits with a margin of 27-28%
Branded revenue to grow 6-8% with a margin of around 25%
Hikma Rx revenue to remain flat with a margin close to 20%.
### **Balance Sheet and Ratings**
**Net Debt**Increased to $1,387 million, with a net debt to core EBITDA ratio of 1.6x.
**Credit Ratings**Upgraded to BBB by S&P and Fitch, with successful refinancing of a $500 million Eurobond.
### **Share Buyback**
A $250 million share buyback program was announced, reflecting strong cash generation and confidence in future growth prospects.
### **Conclusion**
Hikma Pharmaceuticals demonstrated robust financial performance in 2025, despite challenges in the Injectables business. Strategic leadership changes and a focus on sustainable profit growth position the company for continued success in 2026. The share buyback and increased dividend underscore the company’s financial strength and commitment to shareholder value.
Here’s an HTML table comparing the year-on-year financials and debt for Hikma Pharmaceuticals PLC based on the provided text:
### Key Highlights:
1. **Revenue Growth**: Revenue increased by 7% (6% in constant currency) from 2024 to 2025, driven by strong performance in Branded and Hikma Rx businesses.
2. **Operating Profit Decline**: Operating profit decreased by 11% (12% in constant currency) due to a legal settlement impact.
3. **Profit Attributable to Shareholders**: Increased by 12% (13% in constant currency) despite the decline in operating profit.
4. **Cashflow from Operating Activities**: Decreased by 23%, primarily due to $186 million in one-off legal settlements.
5. **Net Debt Increase**: Net debt increased by 24% to $1,387 million, with leverage rising from 1.4x to 1.6x. This table provides a concise comparison of key financial and debt metrics year-on-year for Hikma Pharmaceuticals PLC.
