Navamedic: Improved earnings as Company prepares new launches
(Thomson Reuters ONE) -
Navamedic ASA (OSE: NAVA), the Norwegian pharmaceutical products company, today
announced its first quarter 2012 results. Sales reached yet another all time
high in the first quarter and Navamedic is now preparing for eight product
launches later this year.
"Our Vitaflo business area continues its high growth and further improvement of
profitability. We are now preparing for massive launches of new generic drugs
later this year. We have received marketing authorizations for the entire 2012
pipeline in all our markets in the Nordic and Benelux regions. We start rolling
out the new products from July," said Navamedic CEO Olof Milveden.
Navamedic sales in the first quarter were NOK 20.6 million, which is a 22 per
cent growth over the previous year's first quarter. Sales were mainly
attributable to the Vitaflo business area. While Vitaflo profitability continues
to improve, Navamedic's group results are affected by costs related to the
build-up of its new generics business. The Group's consolidated EBITDA came in
slightly above the zero mark in the first quarter, against an EBITDA of NOK -1.0
million in the corresponding quarter last year.
Navamedic's net result in the first quarter was NOK -1.0 million, against NOK
-1.8 million last year.
Navamedic launched its two first generic drugs on the Finnish and Dutch markets
in October last year and is well underway towards building a position in this
fast growing segment. The Company currently has 11 generic products filed for
approval and expects to launch eight of these in the market during 2012,
starting in July.
The Vitaflo business area, which is a distributor of health care products and
patented drugs in the Nordic markets, experienced high sales growth also in the
first quarter 2012. Over the last eight quarters, Vitaflo sales have seen
organic growth of more than 60 per cent. Profitability continued to improve also
in the first months of 2012 and the EBITDA margin went above 10 per cent in the
first quarter.
Navamedic forecasts continued double digit sales growth and attractive margins
in its Vitaflo business area. As additional generic products are rolled out in
the second half of 2012, the Company expects results improvement also in this
area towards the end of the year. Navamedic targets a positive EBITDA for the
entire group for the full year 2012.
For further information, please call Olof Milveden, CEO, telephone
+46 733 463 736 or Bjørn Lindholt, CFO, telephone +47 9300 6601.
Navamedic ASA is a Norwegian pharmaceutical products company. Through its
subsidiary Vitaflo Scandinavia the Company is a distributor of a broad range of
nutrition and pharmaceutical products in the Nordic markets. Navamedic is
currently building up a generic pharmaceutical business for the Nordic, Dutch
and Belgian markets based on its partnership with Aspen Healthcare of South
Africa. Navamedic is listed on the Oslo Stock Exchange (ticker: NAVA).
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Navamedic ASA via Thomson Reuters ONE
[HUG#1608698]
Unternehmensinformation / Kurzprofil:
Datum: 03.05.2012 - 18:58 Uhr
Sprache: Deutsch
News-ID 142574
Anzahl Zeichen: 3960
contact information:
Town:
Lysaker
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 158 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Navamedic: Improved earnings as Company prepares new launches"
steht unter der journalistisch-redaktionellen Verantwortung von
Navamedic ASA (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
