Slovenian pharmaceuticals producer Krka  expects a 14% decline in consolidated profit for 2023, to 311.2 million euro ($337 million), due to foreign exchange losses, it said.

Revenue is expected to rise by 5% to 1.806 billion euro, whereas earnings before interest, tax, depreciation and amortisation (EBITDA) are seen growing 3% to 502.3 million euro, Krka said in a statement on Thursday, citing preliminary unaudited results.

"Investments at Group level amounted to 131 million euro," CEO Jose Colaric said, adding that this figure is expected to exceed 150 million euro in 2024.

In 2023, Krka obtained marketing authorisations for fourteen new products and completed 698 marketing authorisation procedures in various markets, he added.

Krka recorded a consolidated net profit of 235.6 million euro in the first nine months of 2023, down 22% on the year. Consolidated sales revenue increased by an annual 8% to 1.341 billion euro in the January-September period.

In 2022, Krka booked a consolidated net profit of 363.6 million euro in 2022, up 18% on an annual basis.