Abbott Laboratories

Pakistan Limited

Introduction
Abbott Laboratoriesis an
Americanworldwidehealth carecompany.
Abbott Pakistan is part of the global
healthcare corporation of Abbott
Laboratories.

Products:
There are two basic categories of
products
1. Pharmaceutical products
2. Nutrition products

Financial Analysis
1. Horizontal Analysis
2. Vertical Analysis
3. Ratio Analysis

Balance Sheet

2015

2014

2013

2012

2011

2010

2009

(Rupees in '000)

Fixed Assets:
property,plantand
equipment

4,017,403

3,359,092

3,183,735

2,629,154

intangibleassets

21,983

24,395

41,615

58,835

76,055 -

OtherNon-CurrentAssets

68,797

62,980

44,064

54,509

55,449

56,152

42,606

CurrentAssets

12,380,092

10,319,128

7,898,590

6,587,364

4,975,763

3,856,673

3,259,185

Total Assets

16,488,275

13,765,595

11,168,004

9,329,862

7,405,329

5,790,421

4,964,576

2,298,062

1,877,596

1,662,785
-

CapitalReserves

979,003

979,003

979,003

979,003

979,003

979,003

979,003

CapitalReserves

381,945

339,481

300,030

262,308

223,247

197,167

173,853

RevenueReserves

11,588,299

9,553,116

7,468,232

5,466,083

3,983,933

2,736,369

2,085,604

TotalEquity

12,949,247

10,871,600

8,747,265

6,707,394

5,186,183

3,912,539

3,238,460

219,144

223,953

203,562

189,557

165,219

115,182

119,627

CurrentLiabilities

3,319,884

2,670,042

2,217,177

2,432,911

2,053,927

1,762,700

1,726,116

TotalLiabilities
Total Equity and
Liabilities

3,539,028

2,893,995

2,420,739

2,622,468

2,219,146

1,877,882

1,606,489

16,488,275

13,765,595

11,168,004

9,329,862

7,405,329

5,790,421

4,964,576

Non-CurrentLiabilities

Income Statement
2015

Net sales

2014

2013

2012

2011

2010

2009

21,170,446

19,692,354

17,217,258

15,216,253

12,946,968

10,995,701

8,450,118

Gross profit

8,227,233

7,550,142

6,621,646

5,702,828

4,666,478

3,687,038

2,321,131

Operating profit

5,012,361

4,323,341

3,689,179

3,016,363

2,378,042

1,744,787

878,503

Profit before
taxation

5,006,477

4,318,567

3,686,223

3,014,137

2,374,826

1,741,257

875,978

Taxation

1,419,741

1,502,255

1,157,374

924,042

730,240

564,313

266,906

Profit after
taxation

3,586,736

2,816,312

2,528,849

2,090,095

1,644,586

1,176,944

609,072

Ordinary cash
dividends

2,937,009

763,622

685,302

685,302

587,402

489,502

1,174,804

EBITDA

5,496,717

4,758,663

4,087,276

3,353,127

2,657,942

2,000,889

1,084,803

Horizontal Analysis
Balance Sheet

(Rupees in '000)
Fixed Assets:

2015

2014

2013

2012

2011

2010

2009

property,plant and equipment

intangible assets

241.6069
0

202.016
0

191.47
0

158.1175
0

138.2056
0

112.9187
0

100%
100%

Other Non-Current Assets

161.4726

147.8196

103.4221

127.9374

130.1436

131.7936

100%

Current Assets

379.8524

316.6168

242.3486

202.1169

152.6689

118.3324

100%

Total Assets

332.1185

277.2763

224.9538

187.9287

149.1634

116.6348

100%

Capital Reserves

100

100

100

100

100

100

100%

Capital Reserves

219.6942

195.269

172.5768

150.8792

128.4114

113.4102

100%

Revenue Reserves

555.6328

458.0503

358.0849

262.0863

191.0206

131.2027

100%

Total Equity

399.8582

335.7028

270.1057

207.1168

160.1435

120.8148

100%

Non-Current Liabilities

183.1894

187.2094

170.1639

158.4567

138.1118

96.28428

100%

Current Liabilities

192.3326

154.685

128.4489

140.9471

118.9912

102.1194

100%

Total Liabilities

220.2958

180.1441

150.6851

163.2422

138.1364

116.8935

100%

Total Equity and Liabilities

332.1185

277.2763

224.9538

187.9287

149.1634

116.6348

100%

Income Statement

2015

2014

2013

2012

2011

2010

2009

Net sales

250.5343

233.0424

203.7517

180.0715

153.2164

130.1248

100%

Gross profit

354.4493

325.2786

285.2767

245.6918

201.0433

158.8466

100%

Operating profit

570.5571

492.1259

419.9393

343.3526

270.6925

198.6091

100%

571.53

492.9995

420.8123

344.0882

271.1057

198.7786

100%

Taxation

531.9255

562.8405

433.6261

346.205

273.5944

211.4276

100%

Profit after taxation

588.8854

462.3939

415.1971

343.1606

270.015

193.2356

100%

Ordinary cash dividends

249.9999

64.99995

58.3333

58.3333

50

41.6667

100%

EBITDA

506.7019

438.6661

376.7759

309.1001

245.0161

184.4472

100%

Profit before taxation

Vertical Analysis
Balance Sheet

(Rupees in '000)
Fixed Assets:

2015

2014

2013

2012

2011

2010

2009

property,plant and equipment

intangible assets

24.36521
0.133325

24.40208
0.177217

28.50765
0.372627

28.17999
0.63061

31.03254
1.027031

32.4259
0

33.49299
0

Other Non-Current Assets

Current Assets
Total Assets

0.417248
75.08422
100%
0

0.457517
74.96318
100%
0

0.394556
70.72517
100%
0

0.584242
70.60516
100%
0

0.748772
67.19165
100%
0

0.96974
66.60436
100%
0

0.8582
65.64881
100%
0

Capital Reserves
Capital Reserves

5.937571
2.316464

7.111956
2.466156

8.766141
2.686514

10.49322
2.811489

13.22025
3.01468

16.90729
3.405055

19.71977
3.50187

Revenue Reserves
Total Equity

70.28206
78.53609

69.3985
78.97661

66.87168
78.32434

58.58697
71.89167

53.79819
70.03312

47.25682
67.56916

42.00971
65.23135

1.32909

1.626904

1.822725

2.031724

2.231083

1.989182

2.409612

20.13482
21.46391

19.39649
21.02339

19.85294
21.67566

26.0766
28.10833

27.7358
29.96688

30.44166
32.43084

34.76865
32.35904

100

100

100

100

100

100

100

Non-Current Liabilities
Current Liabilities
Total Liabilities
Total Equity and Liabilities

Income Statement

Net sales

2015

2014

2013

2012

2011

2010

2009

100%

100%

100%

100%

100%

100%

100%

Gross profit

38.86188

38.34047

38.45935

37.47853

36.04302

33.53163

27.46862

Operating profit

23.67622

21.95441

21.42722

19.8233

18.36756

15.8679

10.39634

Profit before taxation

23.64842

21.93017

21.41005

19.80867

18.34272

15.8358

10.36646

6.70624

7.628621

6.722174

6.07273

5.640239

5.132124

3.158607

Profit after taxation

16.94218

14.30155

14.68787

13.73594

12.70248

10.70367

7.207852

Ordinary cash dividends

13.87316

3.877759

3.98032

4.50375

4.536985

4.451758

13.90281

EBITDA

25.96411

24.16503

23.73941

22.03648

20.52946

18.19701

12.83773

Taxation

Ratio Analysis
Profitability Ratios
Unit

2015

2014

2013

2012

2011

2010

2009

Profitability Ratios

Gross profit ratio

38.90%

38.30%

38.50%

37.50% 36.00%

33.50% 27.50%

Net profit to sales

16.90%

14.30%

14.70%

13.70% 12.70%

10.70% 7.20%

EBITDA margin to sales

26.00%

24.20%

23.70%

22.00% 20.50%

18.20% 12.80%

Return on equity / Return on capital

employed

27.70%

25.90%

28.90%

31.20% 31.70%

30.10% 18.80%

Return on assets

23.71%

22.60%

24.70%

25.00% 24.90%

21.90% 13.50%

Liquidity Ratios
Unit

2015

2014

2013

2012

2011

2010

2009

Liquidity Ratios

Current ratio

Times

3.73

3.86

3.56

2.71

2.42

2.19

2.03

Quick / Acid test ratio

Times

2.81

2.76

2.27

1.66

1.26

0.97

0.94

Cash to Current Liabilities

Times

2.51

2.39

1.76

1.15

0.71

0.46

0.48

Activity / Turnover Ratios

Unit

2015

2014

2013

2012

2011

2010

2009

Activity / Turnover Ratios

Total assets turnover

Times

1.39

1.58

1.68

1.81

1.96

2.04

1.87

Inventory Turnover

Times

4.52

4.35

4.08

4.01

3.78

3.61

3.64

Debt Ratios
Unit

2015

21.02% 21.68%

28.10% 29.97%

32.43% 32.36%

Debt/Equity Raito

27.32%

26.62% 27.67%

39.09% 42.79%

48% 49.60%

Debt to Tangible Net worth Ratio

27.38%

26.67% 27.80%

39.44% 43.42%

48% 49.60%

2009

21.46%

2010

2011

Debt Ratio

2012

2013

Debt Ratios

2014

Conclusion &
Recommendation
Abbott is one of the largest Pharmaceutical
and Nutritional Company in Pakistan.
Pfizer, Novartis, Merck &Co.,Sanofi,
GlaxoSmithKline, AstraZeneca and Johnson &
Johnson are major competitors of Abbot
Pakistan.
Abbott has a good reputation and a well
1 GetzPharma
known company
2Pfizer
3GlaxoSmithKline
4Novartis

5FerozsonsLaboratories
6Merck&Co.
7Sanofi
8Johnson&Johnson
9AbbottLaboratories
10MacterInternational