Apr 02, 2020

Capitalization of Farmak is estimated at $850 million to $1 billion

Farmak reinvests 95% of its profits in the development.

“We have never paid more than 5% of our profits as dividends. We have reinvested everything in the development. Due to this, Farmak’s capitalization can be estimated at $850 million to $1 billion today. If I sell the shares that I hold, I will earn a very large amount of money, but I have no intention to sell them. Basically, I am a rather wealthy person, but I have no special wealth. And I do not need it – I do not like a luxurious life. When I am abroad, I prefer to go and buy food at the market than dine at a fancy restaurant,” said Filya Zhebrovska, Chairman of the Supervisory Board of JSC Farmak in the interview with Focus.

As Filya Zhebrovska explains, the Company now goes through the transition period that will last for another two or three years. “In 2017, before retiring from business, I worked a lot on business processes, and then I invited Slovakian expatriate manager Augustin Dubnička to manage the Company, as I wanted to make sure that the built processes were clear for people from the outside. He worked for nine months and we experienced no catastrophe. After that, I entrusted control to Volodymyr Kostiuk, and since then I have not interfered with the operational activities. All top managers of the Company, with whom we created Farmak, joined me in the Supervisory Board. We have to afford an opportunity to the next generation to prove themselves,” she said.

It is worth noting that Farmak plans to invest approximately UAH 1.2 billion in the development in 2020.

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