PDF Report issued on the 07/06/2023

UNITÉ DE FABRICATION DES MÉDICAMENTS S.A Company Profile

Bourse de Tunis / UMED / TN0007720014

Business Summary  Sector

Unimed (Unité de Fabrication de Médicaments) is one of the leading pharmaceutical groups in Tunisia. The activity is
organized around 2 families of products: Healthcare
- generic medicines: primarily infusion and inhalation products, ophthalmic products, injectable liquids and powders;  Pharmaceuticals & Medical Research
- fashioned medicines: medicines manufactured for third parties.  Pharmaceuticals
 Pharmaceuticals
Financials (TND)
 Other Pharmaceuticals

Sales 2023 123 M Sales 2024 130 M Capitalization 237 M

Income Statement Evolution
Net income 2023 15,4 M Net income 2024 16,5 M EV / Sales 2023 2,43x

Net Debt 2023 62,3 M Net Debt 2024 72,2 M EV / Sales 2024 2,38x

P/E ratio 2023 14,0x P/E ratio 2024 13,0x Nbr of Employees 572

Yield 2023 6,76% Yield 2024 7,43% Free-Float 30,0%

Sales per Business

2021 2022 Delta

Pharmaceutical 84.50 100% 96.36 100% +14.03%

TND in Million

Sales per region

2021 2022 Delta

Managers
Tunisia 84.50 100% 96.36 100% +14.03%

TND in Million Name Title

Chairman & Chief Executive

Ridha Charfeddine
Officer
Equities
Deputy CEO-Finance &
Lotfi Charfeddine
Quantity Free-Float Administration, Director

Stock A 32,000,000 9,605,638 30.0% Deputy Chief Executive Officer-

Rached Azaiez
Technical Division
Imen Charfeddine Director-Research & Development
Upcoming events on UNITÉ DE FABRICATION DES MÉDICAMENTS S.A
Imen Bemri Director-Sales & Marketing
- No events available -

Members of the board

Past events on UNITÉ DE FABRICATION DES MÉDICAMENTS S.A
Name Title
- No events available -
Chairman & Chief Executive
Ridha Charfeddine
Officer
Deputy CEO-Finance &
Lotfi Charfeddine
Administration, Director
Hichem ben Hmida Director
Salah Ben Turkia Director
Aymen ben Ayed Director

Shareholders

Name Equities %

Ridha Charfeddine 22,394,362 70.0%

Ekuity Capital 3,929,751 12.3%

Company contact info / Stock Exchange Codes

Zone industrielle kalaa kebira

BP 38
TN-4060 Sousse
Phone : +216 73 342 669
Fax : +216 73 342 472
web site : http://www.unimed.com.tn

Disclaimer : SURPERFORMANCE SAS assumes no responsibility for any use that may be made of the information available, and the consequences that may result, including any decision
taken on the basis of information provided, even in case of error or omission. The content is intended for investors who have the necessary knowledge and experience to understand and https://www.marketscreener.com
appreciate the information developed. These information are disseminated for information only. These information may contain inaccuracies, errors or omissions.

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 PDF Report issued on the 07/06/2023

UNITÉ DE FABRICATION DES MÉDICAMENTS S.A Financials and Forecast

Bourse de Tunis / UMED / TN0007720014

Income Statement Evolution : Past and Forecast Financial Ratios

Size 2023e 2024e

Capitalization 237 M TND -

Enterprise Value (EV) 299 M TND 309 M TND

Valuation 2023e 2024e

P/E ratio (Price / EPS) 14,0x 13,0x

Capitalization / Revenue 1,93x 1,82x
EV / Revenue 2,43x 2,30x
EV / EBITDA 8,75x 8,22x
Yield (DPS / Price) 6,76% 7,43%
Price to book (Price / BVPS) - -

Profitability 2023e 2024e

Operating Margin (EBIT / Sales) 18,7% 19,2%

Operating Leverage (Delta EBIT / Delta Sales) 2,62x 1,45x
Net Margin (Net Profit / Revenue) 12,5% 12,7%
ROA (Net Profit / Asset) - -
ROE (Net Profit / Equities) 14,8% 15,5%
Annual Income Statement Data : Past and Forecast Rate of Dividend 94,3% 96,5%

Fiscal Period: December 2019 2021 2022 2023 2024 2025

Balance Sheet Analysis 2023e 2024e
1 107 84,5 96,6 123 130 137
Net sales CAPEX / Sales   14,0% 10,5%
Cash Flow / CA - -
EBITDA 1 36,0 23,9 24,5 34,2 36,4 -
Capital Intensity (Assets / Revenue) - -
Operating profit (EBIT) 1 28,8 13,7 13,4 23,0 24,9 - Financial Leverage (Net Debt / EBITDA) 1,82x 1,98x

Operating Margin 26,9% 16,2% 13,9% 18,7% 19,2% -

Price Earning Ratio
Pre-Tax Profit (EBT) - - - - - -

Net income 1 17,7 8,70 7,83 15,4 16,5 18,6

Net margin 16,5% 10,3% 8,10% 12,5% 12,7% 13,6%

EPS 2 0,55 0,27 - 0,53 0,57 0,63

Free Cash Flow 1 -3,48 15,1 - 0,62 4,71 -

FCF margin -3,24% 17,9% - 0,50% 3,62% -

FCF Conversion -9,66% 63,2% - 1,81% 12,9% -

Dividend per Share 2 - 0,41 - 0,50 0,55 0,60

Announcement Date 05/22/2020 06/14/2022 05/04/2023 - - -

1 TND in Million 2 TND Estimates

EPS - Rate of surprise
Finances - Leverage : Past and Forecast

Disclaimer : SURPERFORMANCE SAS assumes no responsibility for any use that may be made of the information available, and the consequences that may result, including any decision
taken on the basis of information provided, even in case of error or omission. The content is intended for investors who have the necessary knowledge and experience to understand and https://www.marketscreener.com
appreciate the information developed. These information are disseminated for information only. These information may contain inaccuracies, errors or omissions.

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 PDF Report issued on the 07/06/2023

UNITÉ DE FABRICATION DES MÉDICAMENTS S.A Analysts' Consensus

Bourse de Tunis / UMED / TN0007720014

Evolution of the average Target Price Consensus

Sell Buy

Mean consensus BUY

Number of Analysts 1

Last Close Price 7,40 TND

Average target price 11,00 TND

Spread / Average Target 48,6%

High Price Target 11,00 TND

Spread / Highest target 48,6%

Low Price Target 11,00 TND

Spread / Lowest Target 48,6%

Consensus detail

Target Price consensus revisions : last 18 months

Consensus revision (last 18 months)

Revenue Revisions & EPS Revisions

Disclaimer : SURPERFORMANCE SAS assumes no responsibility for any use that may be made of the information available, and the consequences that may result, including any decision
taken on the basis of information provided, even in case of error or omission. The content is intended for investors who have the necessary knowledge and experience to understand and https://www.marketscreener.com
appreciate the information developed. These information are disseminated for information only. These information may contain inaccuracies, errors or omissions.

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 PDF Report issued on the 07/06/2023

UNITÉ DE FABRICATION DES MÉDICAMENTS S.A Sector and Competitors

Bourse de Tunis / UMED / TN0007720014

Chart Sector

Subsector Other Pharmaceuticals Ratings

1st Jan Capi.
Investor Rating ESG
change (M$)
UNITÉ DE FABRICATION DES MÉ.. 3.93% 76 -

JOHNSON & JOHNSON -11.14% 442 504 C+

ELI LILLY AND COMPANY 21.11% 420 594 C+
NOVO NORDISK A/S 20.00% 362 337 A-
MERCK & CO., INC. -0.85% 279 143 B-
ROCHE HOLDING AG 0.57% 259 696 A
ABBVIE INC. -16.20% 238 938 C
ASTRAZENECA PLC 5.47% 227 646 A+
PFIZER, INC. -25.12% 216 610 A-
NOVARTIS AG 8.29% 209 086 B-
BRISTOL-MYERS SQUIBB COMPANY -8.30% 137 563 B
SANOFI 7.27% 128 638 B
AMGEN INC. -15.52% 118 204 C+
GILEAD SCIENCES, INC. -9.47% 95 048 B-
GSK PLC -3.21% 69 994 A
DAIICHI SANKYO CO., LTD. 15.36% 67 289 A-
BAYER AG 8.18% 54 896 B
TAKEDA PHARMACEUTICAL COMPANY LIMITED 11.09% 50 818 A-
CHUGAI PHARMACEUTICAL CO., LTD 20.55% 47 809 B+
JIANGSU HENGRUI MEDICINE CO., LTD. 20.19% 41 477 B
HALEON PLC 0.06% 37 549 -

Disclaimer : SURPERFORMANCE SAS assumes no responsibility for any use that may be made of the information available, and the consequences that may result, including any decision
taken on the basis of information provided, even in case of error or omission. The content is intended for investors who have the necessary knowledge and experience to understand and https://www.marketscreener.com
appreciate the information developed. These information are disseminated for information only. These information may contain inaccuracies, errors or omissions.

Page 4 / 6
 PDF Report issued on the 07/06/2023

UNITÉ DE FABRICATION DES MÉDICAMENTS S.A Technical Analysis

Bourse de Tunis / UMED / TN0007720014

Daily chart Technical analysis trends

Short Term Mid-Term Long Term

Trend Neutral Bullish Bearish

Resistance 7,45 7,53 7,90

Spread/Res. -0,67% -1,7% -6,3%

Spread/Supp. 2,4% 5,0% 10%

Support 7,23 7,05 6,70

Basic data

Number of securities 32 000 000

Capitalization TND 238 080 000
Capitalization USD 76 165 970
Free-Float 30.0%

Performance

1 day -0.54%

5 days 1.37%

1 week 2.35%

Current month 1.37%

1 month 1.37%

3 months 1.79%

6 months 2.07%

Current year 3.93%

1 year 7.71%

3 years -24.26%

5 years -18.68%

Weekly chart

Disclaimer : SURPERFORMANCE SAS assumes no responsibility for any use that may be made of the information available, and the consequences that may result, including any decision
taken on the basis of information provided, even in case of error or omission. The content is intended for investors who have the necessary knowledge and experience to understand and https://www.marketscreener.com
appreciate the information developed. These information are disseminated for information only. These information may contain inaccuracies, errors or omissions.

Page 5 / 6
 PDF Report issued on the 07/06/2023

UNITÉ DE FABRICATION DES MÉDICAMENTS S.A Summary

Bourse de Tunis / UMED / TN0007720014

Summary Ratings
• The company has strong fundamentals. More than 70% of companies have a lower mix of growth, profitability, debt and
visibility. Investment
• The company presents an interesting fundamental situation from a short-term investment perspective.
Trading

Strengths ESG Refinitiv -

• The company's earnings per share (EPS) are expected to grow significantly over the next few years according to the
consensus of analysts covering the stock. Financials

• The company is one of the best yield companies with high dividend expectations. Sales Growth

• Over the past year, analysts have regularly revised upwards their sales forecast for the company. Earnings Growth

• Over the last 4 months, analysts have significantly revised upwards the company's estimated sales. EBITDA / Sales
• For the past year, analysts covering the stock have been revising their EPS expectations upwards in a significant manner. Profitability
• For the last 4 months, the company has been enjoying highly positive EPS revisions, which were frequently and significantly Finances
raised.

• Analysts have a positive opinion on this stock. Average consensus recommends overweighting or purchasing the stock. Valuation
• The difference between current prices and the average target price is rather important and implies a significant appreciation P/E ratio
potential for the stock.
EV / Sales
• The average price target of analysts who are interested in the stock has been strongly revised upwards over the last four
months. Price to Book -
• The opinion of analysts covering the stock has improved over the past four months. Price to Free Cash Flow
• Over the past twelve months, analysts' opinions have been strongly revised upwards. Yield
• The divergence of price targets given by the various analysts who make up the consensus is relatively low, suggesting a
consensus method of evaluating the company and its prospects. Momentum
• Historically, the company has been releasing figures that are above expectations. Turnover review 12m
Turnover review 4m
Weaknesses
Turnover review 7 days
• The company is in debt and has limited leeway for investment
Earnings revision 12m
• The valuation of the company is particularly high given the cash flows generated by its activity.
Earnings revision 4m

Consensus
Analyst Opinion
Potential Price Target
Price target revision 4m
4m Revision of opinion
12m Revision of opinion

Business Predictability
Analyst Coverage
Divergence of Estimates -
Divergence of analysts' opinions -
Divergence of Target Price
Earnings quality

Disclaimer : SURPERFORMANCE SAS assumes no responsibility for any use that may be made of the information available, and the consequences that may result, including any decision
taken on the basis of information provided, even in case of error or omission. The content is intended for investors who have the necessary knowledge and experience to understand and https://www.marketscreener.com
appreciate the information developed. These information are disseminated for information only. These information may contain inaccuracies, errors or omissions.

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