DGAP-News: STADA with dynamic sales growth in the first half of 2013
(firmenpresse) - DGAP-News: STADA Arzneimittel AG / Key word(s): Half Year Results
STADA with dynamic sales growth in the first half of 2013
08.08.2013 / 07:25
---------------------------------------------------------------------
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
1-6/2013 1-6/2012 +/-
Group sales Euro 974.3 million Euro 885.2 million +10%
Operating profit Euro 131.7 million Euro 101.4 million +30%
Operating profit, adjusted Euro 137.6 million Euro 127.1 million +8%
EBITDA Euro 184.1 million Euro 160.7 million +15%
EBITDA, adjusted Euro 189.8 million Euro 176.7 million +7%
Net income Euro 66.6 million Euro 48.2 million +38%
Net income, adjusted Euro 70.1 million Euro 69.9 million 0%
Earnings per share Euro 1.12 Euro 0.82 +37%
Earnings per share, adjusted Euro 1.18 Euro 1.19 -1%
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
In the first half of 2013, Group sales rose by 10 percent to Euro 974.3
million (1-6/2012: Euro 885.2 million).
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
Reported operating profit recorded growth of 30 percent to Euro 131.7
million in the first six months of 2013 (1-6/2012: Euro 101.4 million).
Reported EBITDA increased by 15 percent to Euro 184.1 million (1-6/2012:
Euro 160.7 million). Reported net income showed a plus of 38 percent to
Euro 66.6 million (1-6/2012: Euro 48.2 million).
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
(1-6/2012: 3.6).
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
The four STADA market regions showed varying developments in the first half
of 2013. Whereas sales of the market region Germany decreased, the market
region Central Europe recorded a slight sales increase. Sales were able to
show significant growth in the market regions CIS/Eastern Europe and Asia&Pacific.
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 (1-6/2012: Euro 149.5
million) due to a negative currency effect of the Russian ruble. In Serbia,
sales rose significantly by 28 percent applying the exchange rates of the
previous year. In euro, sales increased by a strong 29 percent to Euro 40.3
million with a slightly positive currency effect of the Serbian dinar
(1-6/2012: Euro 31.4 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
Research and development costs amounted to Euro 27.5 million in the half
year under review (1-6/2012: Euro 25.7 million). Worldwide, STADA launched
a total of 352 individual products in the individual national markets in
the first half of 2013 (1-6/2012: 367 product launches).
Outlook
The Executive Board confirms the outlook for the future development of the
STADA Group published at the beginning of the year. Thus, the Executive
Board expects, from today's perspective, further growth in sales and
earnings for the Group in 2013 and 2014. Furthermore, the Executive Board
sees the opportunity for further growth in the Group's adjusted EBITDA in
the high single-digit percent area in 2013 and thereby achieving a new
record value. In addition, the Executive Board affirms the long-term
prognosis envisaged for 2014, according to which Group sales of
approximately Euro 2.15 billion, at an adjusted level, EBITDA of
approximately Euro 430 million and net income of approximately Euro 215
million should be reached at minimum.
Additional information:
STADA Arzneimittel AG / Corporate Communications / Stadastrasse 2-18 /
61118 Bad Vilbel - Germany / Phone: +49 (0) 6101 603-113 / Fax: +49 (0)
6101 603-506 / E-mail: communications(at)stada.de.
Or visit us in the Internet at www.stada.com.
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(at)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
---------------------------------------------------------------------
224668 08.08.2013
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 08.08.2013 - 07:25 Uhr
Sprache: Deutsch
News-ID 285806
Anzahl Zeichen: 17713
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 251 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: STADA with dynamic sales growth in the first half of 2013"
steht unter der journalistisch-redaktionellen Verantwortung von
STADA Arzneimittel AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
