Gulf Pharmaceutical Industries PSC (Julphar) on Thursday reported that revenue from continuing operations increased to Dh573.7 million, compared to Dh547.9 million in H1 2025, representing year-on-year growth of 4.7%.
The company delivered continued revenue growth, improved margins and a significant increase in profitability from continuing operations, while maintaining a stable financing position following the successful deleveraging completed in 2025.
The performance reflects resilient demand across Julphar’s core markets, a strengthened product mix and continued operational execution despite ongoing geopolitical uncertainty, supply chain challenges and inflationary pressures affecting logistics and raw materials.
Gross profit from continuing operations increased by 18.3% to Dh261.2 million, compared to Dh220.8 million in the corresponding period of 2025. Earnings before interest, taxes, depreciation and amortisation (Ebitda) from continuing operations increased by 84.7% to Dh86.8 million, compared to Dh47.0 million in H1 2025. The improvement was driven by enhanced manufacturing efficiency, disciplined cost management, portfolio optimization and a stronger contribution from higher-value products. Ebitda margin improved to 15.1% in H1 2026 from 8.6% in H1 2025, reflecting continued progress in operational efficiency and profitability.
Net income from continuing operations reached Dh56.2 million, compared to Dh5.6 million in H1 2025. This significant increase reflects the strengthening performance of Julphar’s core pharmaceutical business and continued execution of the Company’s operational and commercial priorities.
Reported net income for H1 2026 amounted to Dh54.5 million. The year-on-year comparison on a total operations basis reflects the absence of the one-time capital gain recognized in H1 2025 from the divestment of Zahrat Al Rawdah Pharmacies. Excluding this non-recurring item, the profitability of continuing operations improved substantially during the first half of 2026.
Julphar continued to strengthen its financial position during the period. Total loans and other interest-bearing debt stood at Dh263.8 million as of 30 June 2026 following the debt restructuring completed in 2025. Total equity increased to Dh1.016 billion, compared to Dh959.8 million as of 31 December 2025.
Accumulated losses declined to Dh106.9 million, compared to Dh163.0 million at the beginning of the year, representing a reduction of Dh56.1 million during the first half of 2026. This continued reduction in accumulated losses reflects the recovery of shareholder value and further strengthens Julphar’s financial position.
The improved balance sheet provides greater financial flexibility to support strategic investments, product launches, operational enhancements and future growth initiatives.
Alongside its financial performance, Julphar continued to advance its strategic priorities during the first half of 2026. The Company launched four new products comprising eight SKUs in the UAE and secured sixteen international product registrations across its operating markets, further broadening market access and strengthening its product portfolio. Julphar also continued to progress its expansion in the Kingdom of Saudi Arabia, further strengthening its presence in one of its most strategic markets.
These achievements strengthen Julphar’s product portfolio, expand market access and support future growth opportunities across its core operating markets, reinforcing the Company’s commitment to sustainable value creation and long-term growth.
Sheikh Saqer Bin Humaid Al Qasimi, Chairman of the Board, Julphar, commented: “The first-half results demonstrate the progress Julphar continues to make in strengthening its operational and financial foundations. The Company delivered meaningful improvements in profitability, further strengthened its balance sheet and continued to invest in future growth opportunities. These outcomes reinforce our confidence in Julphar’s strategic direction and our ability to create long-term value for shareholders and stakeholders.”
Basel Ziyadeh, Chief Executive Officer, Julphar, said: “The first-half results demonstrate the continued strengthening of our business fundamentals. We delivered strong Ebitda growth, expanded margins, increased profitability and further strengthened our balance sheet, while continuing to invest in our product portfolio and regional footprint. Our focus remains on disciplined execution, operational excellence and sustainable growth across our core markets. With a strengthened balance sheet, improving profitability, an expanding product portfolio and continued focus on operational excellence, Julphar remains well positioned to pursue sustainable growth opportunities across its core markets while creating long-term value for shareholders.”
Source: Khaleej Times