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STADA’s business development in the first six months of 2018 as expected

  • 08/09/2018
  • Press Release

STADA’s business development in the first six months of 2018 as expected

• Increase in adjusted Group sales – driven by both Generics and Branded Products
• Double-digit increase in reported and adjusted EBITDA – considerable margin improvement in
the Generics segment
• Significant growth in reported and adjusted net income
• Positive development of cash flow from operating activities

“In the first six months of 2018, STADA developed in line with our expectations. In addition to doubledigit
increase in our key earnings figures – including significant net income growth – we were able to
considerably improve the margin of our Generics segment. We also pushed ahead with our strategic
realignment, implementing steps such as acquiring the EMEA rights for Nizoral dandruff treatment
shampoo and taking over distribution responsibility for our strongest-selling product APO-Go in
Germany, with Scandinavia to follow shortly. As such, we remain on track to reach our targets for
2018,” STADA CEO Dr. Claudio Albrecht strikes a positive balance.


Slight decrease in reported Group sales – increase in adjusted Group sales
Reported Group sales decreased by 1 percent in the first six months of 2018 to €1,137.5 million.
Sales of STADA Vietnam J.V. Co. Ltd. are no longer included. Group sales adjusted for portfolio and
currency effects increased by 5 percent to €1,171.6 million.
Increase in reported and adjusted EBITDA
Reported EBITDA increased by 18 percent in the reporting period to €260.6 million, while adjusted
EBITDA rose by 10 percent to €261.7 million.

Increase in reported and adjusted EBITDA
Reported EBITDA increased by 18 percent in the reporting period to €260.6 million, while adjusted
EBITDA rose by 10 percent to €261.7 million.


Significant increase in reported and adjusted net income
Reported net income grew by 83 percent in the first six months of the current financial year, rising to
€165.3 million, while adjusted net income increased by 31 percent to €149.7 million.


Increase in cash flow from operating activities
Cash flow from operating activities increased to €95.0 million in the first six months of 2018
(1-6/2017: €89.5 million). Following the most recent investments, free cash flow totaled €-99.6 million
(1-6/2017: €16.9 million). Free cash flow adjusted for payments for significant investments or
acquisitions and proceeds from significant disposals increased to €61.6 million (1-6/2017: €43.5
million).


Improved equity ratio
The equity ratio as of June 30, 2018, improved to 34.3 percent (December 31, 2017: 31.4 percent).
Net debt as of June 30, 2018, totaled €1,165.5 million, including a shareholders’ loan (December 31,
2017: €1,054.7 million).

Sales and earnings development of the Generics segment
In the first six months of 2018, reported sales of the Generics segment totaled
€672.4 million and were more or less on a par with the corresponding period of the previous year. The
figure no longer includes generics sales of STADA Vietnam J.V. Co. Ltd. Sales adjusted for portfolio
and currency effects increased by 4 percent to €684.7 million. Overall, the Generics segment
accounted for 59.1 percent of Group sales in the reporting period (1-6/2017: 59.0 percent). Adjusted
EBITDA increased by 22 percent to €183.6 million. The adjusted EBITDA margin was 27.3 percent
(1-6/2017: 22.3 percent)

Sales and earnings development of the Branded Products segment
In the first six months of 2018, reported sales of the Branded Products segment decreased by
1 percent to €465.1 million. The figure no longer includes branded product sales of STADA Vietnam
J.V. Co. Ltd. Sales adjusted for portfolio and currency effects increased by 7 percent to
€486.9 million. Overall, the Branded Products segment accounted for 40.9 percent of Group sales in
the reporting period (1-6/2017: 41.0 percent). Adjusted EBITDA decreased by 1 percent to
€120.0 million. The adjusted EBITDA margin was 25.8 percent (1-6/2017: 25.9 percent)

 

About STADA Arzneimittel AG
STADA Arzneimittel AG is a publicly-listed company with headquarters in Bad Vilbel, Germany. The company focuses on a three-pillar strategy consisting of generics, non-prescription OTC products and specialty pharmaceuticals, biosimilars in particular. Worldwide, STADA is represented in about 30 countries with roughly 50 subsidiaries. Branded products such as Grippostad and Ladival are among the highest selling in their product categories in Germany. In financial year 2017, STADA achieved adjusted Group sales of €2,255.3 million, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of €433.9 million and adjusted net income of €195.6 million. As of December 31, 2017, STADA employed 10,176 people worldwide.


Additional information for journalists:
STADA Arzneimittel AG / Media Relations / Stadastrasse 2–18 / 61118 Bad Vilbel – Germany /
Phone: +49 (0) 6101 603-165 / Fax: +49 (0) 6101 603-215 / E-Mail: press@stada.de
Or visit us on the Internet at www.stada.com/press


Additional information for capital market participants:
STADA Arzneimittel AG / Investor & Creditor Relations / Stadastrasse 2–18 / 61118 Bad Vilbel – Germany /
Phone: +49 (0) 6101 603-113 / Fax: +49 (0) 6101 603-215 / E-mail: ir@stada.de
Or visit us on the Internet at www.stada.com/investor-relations