Cosmos Health’s Subsidiary CosmoFarm Achieves Record Revenue, Up 8.62% to $43 Million YTD 2024, with Gross Profit Rising 21%
Cosmos Health's subsidiary CosmoFarm reported record revenue of $43 million for the first ten months of 2024, marking an 8.62% increase from the previous year, accompanied by a 21% rise in gross profit. The growth is attributed to investments in advanced robotic systems for automated operations, expanded sales and marketing initiatives, and strategic acquisitions of distribution networks. CosmoFarm, operating from a 29,000-square-foot facility in Athens, serves over 1,500 pharmacies and is projected to exceed $52 million in annualized revenue.
La sussidiaria di Cosmos Health, CosmoFarm, ha riportato un fatturato record di $43 milioni per i primi dieci mesi del 2024, segnando un incremento dell'8,62% rispetto all'anno precedente, accompagnato da un aumento del 21% del profitto lordo. La crescita è attribuita agli investimenti in sistemi robotici avanzati per operazioni automatizzate, all'espansione delle iniziative di vendita e marketing e a acquisizioni strategiche di reti di distribuzione. CosmoFarm, che opera da un'impianto di 29.000 piedi quadrati ad Atene, serve oltre 1.500 farmacie e si prevede supererà $52 milioni di fatturato annualizzato.
La subsidiaria de Cosmos Health, CosmoFarm, reportó ingresos récord de $43 millones durante los primeros diez meses de 2024, lo que representa un incremento del 8,62% en comparación con el año anterior, junto con un incremento del 21% en la ganancia bruta. Este crecimiento se atribuye a las inversiones en sistemas robóticos avanzados para operaciones automatizadas, la expansión de iniciativas de ventas y marketing, y adquisiciones estratégicas de redes de distribución. CosmoFarm, que opera desde una instalación de 29.000 pies cuadrados en Atenas, atiende a más de 1.500 farmacias y se proyecta que superará $52 millones en ingresos anuales.
코스모스 헬스의 자회사 코스모팜은 2024년 첫 10개월 동안 4,300만 달러의 기록적인 수익을 보고했으며, 이는 전년 대비 8.62% 증가한 수치로 총 이익이 21% 증가한 것과 함께 기록되었습니다. 이러한 성장은 자동화를 위한 첨단 로봇 시스템에 대한 투자, 판매 및 마케팅의 확대, 그리고 유통망의 전략적 인수에 기인합니다. 아테네에 위치한 29,000 평방피트 규모의 시설에서 운영되는 코스모팜은 1,500개 이상의 약국에 서비스를 제공하며, 연간 수익이 5,200만 달러를 초과할 것으로 예상됩니다.
La filiale de Cosmos Health, CosmoFarm, a annoncé un chiffre d'affaires record de 43 millions de dollars pour les dix premiers mois de 2024, ce qui représente une augmentation de 8,62% par rapport à l'année précédente, accompagnée d'une hausse de 21% du bénéfice brut. Cette croissance est attribuée à des investissements dans des systèmes robotiques avancés pour les opérations automatisées, à l'expansion des initiatives de vente et de marketing, et à des acquisitions stratégiques de réseaux de distribution. CosmoFarm, qui opère depuis une installation de 29 000 pieds carrés à Athènes, sert plus de 1 500 pharmacies et devrait dépasser 52 millions de dollars de revenus annuels.
Die Tochtergesellschaft von Cosmos Health, CosmoFarm, berichtete für die ersten zehn Monate des Jahres 2024 von Rekordumsätzen in Höhe von 43 Millionen US-Dollar, was einem 8,62% Anstieg im Vergleich zum Vorjahr entspricht, begleitet von einem 21% Anstieg des Bruttogewinns. Dieses Wachstum wird auf Investitionen in fortschrittliche Roboteranlagen für automatisierte Abläufe, erweiterte Verkaufs- und Marketinginitiativen sowie strategische Übernahmen von Vertriebsnetzen zurückgeführt. CosmoFarm, das von einer 29.000 Quadratfuß großen Einrichtung in Athen aus operiert, bedient über 1.500 Apotheken und wird voraussichtlich einen Jahresumsatz von 52 Millionen US-Dollar überschreiten.
- Record revenue of $43 million YTD 2024, up 8.62% year-over-year
- Gross profit increased by 21%
- Projected to exceed $52 million in annualized revenue
- Expanded customer base to over 1,500 pharmacies
- None.
Insights
The record revenue growth at CosmoFarm represents a significant milestone for Cosmos Health, with
The investment in automation and robotic systems has clearly paid off, optimizing operations and enabling scalable growth. With a customer base of over 1,500 pharmacies and a substantial 29,000-square-foot distribution facility, CosmoFarm has established a solid foundation for continued expansion. However, investors should note that COSM's current market cap of
CHICAGO, IL / ACCESSWIRE / November 1, 2024 / Cosmos Health Inc. ("Cosmos Health" or the "Company'') (NASDAQ:COSM), a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, announced today that its healthcare distribution business, operated through its wholly owned subsidiary, CosmoFarm S.A. ("CosmoFarm"), has achieved record sales.
In the first ten months of 2024, CosmoFarm achieved record revenue of approximately
Since its acquisition in Q4 2018, CosmoFarm has experienced substantial growth under Cosmos Health's ownership. Key drivers of this growth include investments in advanced robotic systems, such as ROWA and SCHAEFER's A-frame, for automated procurement, inventory management, and order processing; expanded sales and marketing initiatives; and strategic bolt-on acquisitions of distribution networks.
The picture below illustrates CosmoFarm's owned 29,000-square-foot headquarters and distribution facility in Athens.
Click here to watch a video showcasing CosmoFarm's robotic systems:
Greg Siokas, CEO of Cosmos Health, stated: "We are delighted to report record revenue at CosmoFarm, set to exceed
About Cosmos Health Inc.
Cosmos Health Inc. (Nasdaq:COSM), incorporated in 2009 in Nevada, is a diversified, vertically integrated global healthcare group. The Company owns a portfolio of proprietary pharmaceutical and nutraceutical brands, including Sky Premium Life®, Mediterranation®, bio-bebe®, C-Sept® and C-Scrub®. Through its subsidiary Cana Laboratories S.A., licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency (EMA), it manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices within the European Union. Cosmos Health also distributes a broad line of pharmaceuticals and parapharmaceuticals, including branded generics and OTC medications, to retail pharmacies and wholesale distributors through its subsidiaries in Greece and the UK. Furthermore, the Company has established R&D partnerships targeting major health disorders such as obesity, diabetes, and cancer, enhanced by artificial intelligence drug repurposing technologies, and focuses on the R&D of novel patented nutraceuticals, specialized root extracts, proprietary complex generics, and innovative OTC products. Cosmos Health has also entered the telehealth space through the acquisition of ZipDoctor, Inc., based in Texas, USA. With a global distribution platform, the Company is currently expanding throughout Europe, Asia, and North America, and has offices and distribution centers in Thessaloniki and Athens, Greece, and in Harlow, UK. More information is available at www.cosmoshealthinc.com, www.skypremiumlife.com, www.cana.gr, www.zipdoctor.co, as well as LinkedIn and X.
Forward-Looking Statements
With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company's ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic and the war in Ukraine, on the Company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's filings with the SEC, which are available at the SEC's website (www.sec.gov). The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
BDG Communications
cosm@bdgcommunications.com
+44 207 0971 653
SOURCE: Cosmos Health Inc.
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