Corporate | 8 August 2013 07:25
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STADA Arzneimittel AG / Key word(s): Half Year Results
Corporate News STADA with dynamic sales growth in the first half of 2013 Important items at a glance – Group sales increases to Euro 974.3 million (+10 percent) – organic growth rises to 6 percent – Adjusted EBITDA increases to Euro 189.8 million (+7 percent) – reported EBITDA records growth to Euro 184.1 million (+15 percent) – Share of branded products in operating profit continues to rise – Exclusive contract negotiations for the acquisition of British OTC manufacturer Thornton & Ross – Outlook to 2014 confirmed STADA Key Figures
Bad Vilbel, August 8, 2013 – In the first half of 2013, STADA Arzneimittel AG recorded a sustainable business development, in the context of which both Group sales and all reported key earnings figures increased. ‘In the first half of 2013 we continued to increase the share of branded products in operating profit. This shows that we are right with our strategy to gradually expand this strong-margin core segment. The planned acquisition of the British OTC manufacturer Thornton & Ross will contribute to this end, with it we intend to strengthen our business activities in the British pharmaceutical market in the segment for branded products for self-medication, which is especially strategically important,’ said Hartmut Retzlaff, STADA’s Chairman of the Executive Board.
Development of sales
Sales of the core segment Generics increased by 6 percent to Euro 618.3 million in the period under review (1-6/2012: Euro 585.1 million). Generics thus contributed 63.5 percent to Group sales (1-6/2012: 66.1 percent). The core segment Branded Products recorded sales growth of 18 percent to Euro 336.5 million in the first half of the current financial year (1-6/2012: Euro 284.5 million). Branded products thereby contributed 34.5 percent to Group sales (1-6/2012: 32.1 percent).
Earnings development
After adjusting the key earnings figures for influences distorting the period comparison resulting from one-time special effects, adjusted operating profit increased by 8 percent in the first half of 2013 to Euro 137.6 million (1-6/2012: Euro 127.1 million). Adjusted EBITDA recorded growth of 7 percent to Euro 189.8 million (1-6/2012: Euro 176.7 million). Net income, adjusted for one-time special effects and non-operational effects from the measurement of derivative financial instruments was, at Euro 70.1 million, approximately at the same level of the corresponding period of the previous year (1-6/2012: Euro 69.9 million).
The
net debt to adjusted EBITDA ratio
in the reporting period on linear extrapolation of the adjusted EBITDA of the first half of 2013 on a full year basis amounted to 3.2
In the second quarter of 2013, STADA issued a second corporate bond with a volume of Euro 350 million, a term of five years and a fixed interest rate of 2.25 percent p.a.
Development of the market regions
In the largest market region Central Europe , sales in the half year under review increased slightly by 1 percent to Euro 407.3 million (1-6/2012: Euro 403.6 million). Sales generated in this market region thus contributed a share of 41.8 percent to Group sales (1-6/2012: 45.6 percent). Sales developed positively in this market region in Italy , France , – as a result of acquisition – Switzerland , Ireland and Austria .
In the
market region CIS/Eastern Europe
, sales in the first six months of 2013 recorded a significant increase – in part due to acquisitions – by 30 percent to Euro 292.5 million (1-6/2012: Euro 225.7 million). Sales achieved in this market region thereby contributed 30.0 percent to Group sales (1-6/2012: 25.5 percent).
Russia
recorded a clear sales increase of 33 percent applying the exchange rates of the previous year. In euro, sales grew by a strong 30 percent to Euro 194.2 million
In the market region Germany , – in view of the continued difficult local framework conditions for generics resulting from intensive competition in tenders for discount agreements from public health insurance organizations – sales in the first half of 2013 decreased by 2 percent to Euro 238.6 million (1-6/2012: Euro 243.7 million). The market region thus contributed 24.5 percent to Group sales (1-6/2012: 27.5 percent). In the market region Asia & Pacific , sales in the reporting period increased significantly by 195 percent to Euro 35.9 million (1-6/2012: Euro 12.2 million). Sales of the market region thereby contributed 3.7 percent to Group sales (1-6/2012: 1.4 percent). The growth in this market region was primarily attributable to the sales increase in Vietnam following the consolidation of Pymepharco Joint Stock Company as a subsidiary since January 1, 2013.
Development, production and procurement
Outlook
Additional information:
End of Corporate News 08.08.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | STADA Arzneimittel AG | |
| Stadastraße 2-18 | ||
| 61118 Bad Vilbel | ||
| Germany | ||
| Phone: | +49 (0)6101 603- 113 | |
| Fax: | +49 (0)6101 603- 506 | |
| E-mail: | communications@stada.de | |
| Internet: | www.stada.de | |
| ISIN: | DE0007251803, DE0007251845, | |
| WKN: | 725180, 725184, | |
| Indices: | MDAX | |
| Listed: | Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, Hannover, München, Stuttgart | |
| End of News | DGAP News-Service |
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