Julphar Reports Strong 9M 2026 Results with Revenue Growth and Significant Improvement in Profitability

Revenue from continuing operations reached AED 906.0 million for the nine months ended 30 September 2026, up 13.5% year-on-year. Gross profit increased 23.5% to AED 394.3 million, EBITDA increased 90.3% to AED 126.0 million, and net income from continuing operations reached AED 89.0 million.

12 November 2026, Ras Al Khaimah, UAE: Gulf Pharmaceutical Industries PSC (Julphar) today announced its financial results for the nine months ended 30 September 2026 (9M 2026), reporting revenue growth and a significant improvement in profitability from continuing operations. 

Revenue Growth Across Key Markets

Revenue from continuing operations reached AED 906.0 million, compared with AED 797.9 million in 9M 2025, representing growth of 13.5% year-on-year. Reported growth was supported by stronger performance in the UAE and other international markets and included the impact of quarter-to-quarter sales phasing following geopolitical disruption and certain non-recurring sales transactions. Excluding these non-recurring sales, underlying revenue growth was 6.4%. 

Other international markets contributed strongly, with revenue increasing 28.6% to AED 335.0 million. Revenue in the UAE increased 9.0% to AED 340.7 million, while other GCC markets grew 2.4% to AED 230.3 million. 

The performance was achieved despite regional geopolitical developments, global supply-chain disruption, inflationary pressures, and higher logistics and material costs. Operational-efficiency initiatives, an improved product mix, effective risk management and supply-chain diversification supported performance during the period. 

Significant Improvement in Profitability

Gross profit from continuing operations increased 23.5% to AED 394.3 million, compared with AED 319.3 million in 9M 2025, supported by an improved product mix and operational-efficiency measures which helped partially absorb inflationary pressures. 

EBITDA from continuing operations increased 90.3% to AED 126.0 million, compared with AED 66.2 million in the corresponding period last year, reflecting continued improvement in underlying operating performance. 

Net income from continuing operations reached AED 89.0 million, compared with AED 8.1 million in 9M 2025, reflecting improved underlying operating performance and lower financing costs. 

Total net income for 9M 2026 was AED 87.5 million, compared with AED 138.2 million in 9M 2025. The prior-year comparative included a one-off net capital gain of AED 118.7 million from the divestment of Zahrat Al Rawdah Pharmacies LLC, which significantly increased reported net income in the comparative period. 

Stable Financing Position

Following the debt restructuring completed in 2025, Julphar maintained a stable financing position, with total loans and other interest-bearing debt of AED 263.8 million as of 30 September 2026. 

Total equity increased to AED 1,046.9 million, compared with AED 959.8 million as of 31 December 2025 with accumulated losses decreasing to AED 74.0 million, compared with AED 163.0 million at the beginning of the year, reflecting the profitability generated during the period. 

Strategic and Portfolio Progress

During the first nine months of 2026, Julphar launched four new products in UAE and completed 27 international registrations, supporting the Company's international expansion initiatives. 

Julphar also continued to progress its new manufacturing facility project in the Kingdom of Saudi Arabia, alongside licensing activities, in-house R&D workstreams and pipeline expansion involving selected biotechnology and specialty products. 

Capital expenditure during the period amounted to AED 27.3 million, supporting infrastructure upgrades, equipment modernization, process optimization and research and development. 

Leadership Commentary

Sheikh Saqr Humaid Al Qasimi - Chairman of the Board, Julphar:

“The first nine months of 2026 demonstrate the continued progress Julphar is making in strengthening the business. We delivered growth across key markets, significantly improved profitability, and strengthened our equity position, while continuing to invest in our strategic priorities. These results reflect disciplined execution and provide a solid foundation for Julphar's sustainable long-term growth.”

Basel Ziyadeh - Chief Executive Officer, Julphar:

“Our nine-month performance reflects continued improvement in the underlying business. Revenue grew across key markets, while improved product mix, operational efficiency, and financial discipline contributed to a significant increase in profitability. We remain focused on disciplined execution, portfolio expansion and investing in the capabilities that will support Julphar's next phase of growth.”

-Ends-