21.12.2012

December 21, 2012, MOSCOW - OJSC Pharmacy Chain 36.6 [RTS: APTK; MICEX: RU14APTK1007] - the leading Russian pharmaceutical retailer announces 9M 2012 financial results prepared in accordance with the International Financial Reporting Standards (unaudited).

SALES:

  • Consolidated sales from ongoing operations in 9M 2012 reached RUR 15 588 mln which is a decrease of 1%;
  • Net sales in the retail pharmacy segment in 3Q 2012 increased by 6% and reached RUR 3 492 mln. In 9M 2012 retail sales reached RUR 10 939mln which is an increase of 3% compared to sales in 9M 2011.
  • As of the end of 9M 2012 Pharmacy Chain 36.6 operated 892 pharmacies, 9 stand-alone optical outlets and 24 additional optical departments within pharmacies.

PROFIT:

  • Consolidated gross profit in 9M 2012 reached RUR 6 290 mln, which is a decrease of 8%;
  • Gross profit of the retail pharmacy segment in 9M 2012 reached RUR 3 153 mln, which is a decrease of 9%. The gross profit margin in the retail segment in 9M 2012 decreased as a percentage of sales by 4 points to 29%;
  • The Company's consolidated EBITDA reached RUR 1 189 mln, which is a decrease of 9%; Company's consolidated EBITDA margin decreased by 4 point;
  • EBITDA loss in the retail pharmacy segment in 9M 2012 reached RUR 171 mln versus profit of RUR 40mln in 9 2011;
  • Consolidated selling, general and administrative expenses decreased in 9M 2012 by 2% and reached RUR 5 574 mln;
  • SG&A of the retail pharmacy segment in 9M 2012 increased by 0.5% and reached RUR 3 686 mln.
  • Consolidated Net loss in 9M 2012 reached RUR 650mln versus RUR 552 mln in 9M 2011.

FINANCIAL DEBT AND INVESTMENTS

  • Company's Net Debt (deducting the remaining monetary funds) equaled to RUR 8 557 mln;
  • As of the end of 9M 2012 consolidated financial debt reached RUR 10 268 mln which is an increase of 7% versus the beginning of the year data. Whereas the retail pharmacy financial debt equaled to RUR 8 689 mln and Veropharm's debt reached RUR 1 579 mln;
  • Consolidated finance costs in 9M 2012 increased by 7% and reached RUR 1 144 mln;
  • Consolidated investments in fixed and intangible assets in 9M 2012 reached RUR 723 mln, out of which retail investments in opening new pharmacies and re-branding equaled to RUR 80 mln, Veropharm investments reached RUR 643 mln.

VEROPHARM

For the latest update on 9M 2012 performance please refer to the official press-release of the company as of November 30th, 2012 at www.pahrmacychain366.ru.

ELC

  • At July 26, 2012 Group sold its share of 50% in the 'Early Learning Center' at a price of RUR 242 mln. Early Learning Center revenue consolidated by the Group (which is 50% of the total revenue) equaled to RUR 119 mln, net loss equaled to RUR 1,72 mln, as of the moment of disposal, the unit operated 19 stores.

Press-release

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