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SEGMENT REPORTING
 12 Months Ended
Dec. 31, 2024
SEGMENT REPORTING

NOTE 19 – SEGMENT REPORTING

 

A. Basis for segmentation

 

The Group operates through various operating segments, which include the wholesale sector, the pharmaceutical manufacturing sector, the nutraceuticals and pharmaceuticals sector and other, with only the first three of them being reportable segments based on the criteria (quantitative thresholds) of ASC 280. The financial information utilized by our Chief Operating Decision Maker (“CODM”), which is our CEO, for resource allocation and performance evaluation is included within the operating segments described above. The reconciling items presented in the tables below are excluded from the segment data provided to the Chief Operating Decision Maker (“CODM”). The “Other” category primarily consists of corporate expenses incurred by the Group’s parent entity, including, but not limited to, costs related to SEC legal and compliance matters, executive compensation, audit and review fees, and other corporate overhead expenses.

B. Information about reportable segments

 

The table below present's information about the Company's reportable segments for the 12-month period ended December 31, 2024. The accounting policies followed in the preparation of the reportable segments are the same with those followed in the preparation of the Company's consolidated financial statements.

 

Year ended December 31, 2024

 

 

 

Wholesale

 

 

Pharma

manufacturing

 

 

Nutraceuticals & Pharmaceuticals

 

 

Other

 

 

Total

 

Revenues                                        

 

 

51,593,787

 

 

 

865,373

 

 

 

1,967,242

 

 

 

-

 

 

 

54,426,402

 

Cost of Sales

 

 

(48,887,569 )

 

 

(249,061 )

 

 

(978,449 )

 

 

-

 

 

 

(50,115,079 )

General and Administrative expenses

 

 

(647,225 )

 

 

(773,429 )

 

 

(1,442,102 )

 

 

(4,176,049 )

 

 

(7,038,805 )

Salaries

 

 

(1,701,552 )

 

 

(1,243,568 )

 

 

(1,430,736 )

 

 

(1,317,580 )

 

 

(5,693,436 )

Sales and Marketing expenses

 

 

(10,516 )

 

 

(489 )

 

 

(255,559 )

 

 

(88,405 )

 

 

(354,969 )

Research and Development costs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(533,293 )

 

 

(533,293 )

Net finance costs

 

 

(840,456 )

 

 

-

 

 

 

234,856

 

 

 

(265 )

 

 

(605,865 )

Segment profit / (loss)

 

 

(493,531 )

 

 

(1,401,174 )

 

 

(1,904,748 )

 

 

(6,115,592 )

 

 

(9,915,045 )

Reconciling items:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

(231,344 )

 

 

(565,371 )

 

 

(334,075 )

 

 

(118,448 )

 

 

(1,249,238 )

Provisions

 

 

(1,021,818 )

 

 

(123,503 )

 

 

(3,549,111 )

 

 

-

 

 

 

(4,694,432 )

Impairment Charges

 

 

-

 

 

 

-

 

 

 

(160,948 )

 

 

(131,032 )

 

 

(291,980 )

Other income and expenses

 

 

(304,495 )

 

 

5,789

 

 

 

225,665

 

 

 

40,718

 

 

 

(32,323 )

Net profit/(loss) before Income Taxes

 

 

(2,051,188 )

 

 

(2,084,259 )

 

 

(5,723,217 )

 

 

(6,324,354 )

 

 

(16,183,018 )

 

The following summary describes the operations of each reportable segment:

 

Reportable segments

 

Operations

Wholesale

 

Distribution and export of pharmaceutical products

Pharma manufacturing

 

Production of pharmaceutical products

Nutraceutical and pharmaceuticals

 

Trade of owned nutraceutical & pharmaceutical products