June 05, 2014, MOSCOW - OJSC «VEROPHARM» [RTS:VRPH, MICEX:VFRM] announces its unaudited financial results of the first quarter of 2014 in accordance with the International Financial Reporting Standards (IFRS).
SALES-
Sales in the first quarter of 2014 amounted to RUR 1,311 mln. The share of product segments in OJSC "Veropharm" sales is as follows:
Group of pharmaceutical products
- Rx drugs sales amounted to RUR 948 mln. The Rx drugs sales made 72.3% of total sales of the Company;
- OTC drugs sales amounted to RUR 187 mln. The OTC drugs sales made 14.2% of total sales of the Company;
- Traditional drugs sales amounted to RUR 2 mln. The traditional drugs sales made 0.2% of total sales of the Company;
Group of non-pharmaceutical products
- Non-pharmaceutical products sales made RUR 174 mln, which corresponds to 13.3% of total sales of the Company.
- Under the Federal Reimbursement Program (FRP) Veropharm's sales amounted to RUR 17.6 mln according to the results of the first quarter of 2014, which corresponds to 1.3% of the Company's total sales.
- The Russian Federation is the main market and ensures 97.5% of the Company's sales. During the first quarter of 2014 the Company has exported 2.5% of its products.
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In the first quarter of 2014 the gross profit of OJSC "Veropharm" amounted to RUR 644 mln. The gross profit ratio in the first quarter of 2014 made 49.1%. The gross profit ratio of the segments of OJSC "Veropharm" is as stated:
Group of pharmaceutical products
- In relation to Rx drugs it made 44.8% in the first quarter of 2014;
- In relation to OTC drugs it made 57.0% in the first quarter of 2014;
- In relation to traditional products it made 42.7% in the first quarter of 2014.
Group of non-pharmaceutical products
- In relation to non-pharmaceutical products it made 64.4% in the first quarter of 2014.
- In the first quarter of 2014 EBITDA amounted to RUR 310 mln. EBITDA margin made 23.7%.
- Operating profit in the first quarter of 2014 made RUR 276 mln. Operating profit margin made 21.1% in the first quarter of 2014.
- Net profit for the reporting period amounted to RUR 30 mln. Net profit margin made 2.3%.
- In the first quarter of 2014 the amount of investments assigned for modernization and equipment of the main production facilities of the Company made RUR 404 mln.
- As at March 31, 2013 the debt of OJSC "Veropharm" amounted to RUR 2,852 mln, which makes no more than 31% of the Company's net assets value.
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