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Message of the CEO

Ognian Donev - Sopharma CEO

Dear friends,

This year I would like to start my address to you with a wish for good health, persistence and steady withstanding of our principles and in our attempts to defend the values we believe in.

In spite of the fact we live in times of transition and generation clashes, taking care of the health, both our own and that our our loved ones is still a priority of the society. This priority defines our dedication to our work, even though we face difficulties. The lack of political, economic and social stability on our main export markets predetermined to a certain extent our financial performance in 2015. We managed to maintain our position on the domestic market, but our total sales and EBITDA still decreased with 13.7%. This effect was expected, although of course not wished for.

Our success through out the year was mostly in our long-term strategic projects in the whole Group, including the sale of shares in our daughter company Extab, which we hope opens the doors for further work on the registration of our product Tabex on new markets with good outlooks. Our daughter company Sopharma Trading Ad established itself on the Serbian market and is now building partnerships and business with baby steps. There are many examples.

The year, which we enter now seemingly, will also offer lots of surprises. We believe we will face them in the most reasonable way and since we know by experience that an opportunity hides in every negative situation, we will try to use it.

Thank you for your trust.

Ognian Donev, PhD,
Chairman of the Board of Directors and Executive Director of Sopharma AD