STADA: Excellent Start. Record Result Q1 2003
05/20/2003 . Ad hoc Release
In the first quarter of 2003 (Q1 2003), STADA increased its consolidated sales by +19% from Q1 2002 to EUR 181.2 million; sales in the three core segments generics, branded products and special pharmaceuticals grew by a total of +33% to EUR 172.2 million (individually: generics +32%, branded products +32%, special pharmaceuticals +42%). The non-core commercial business segment declined by another -66% as planned. This means the core segments now contributed 95% of total sales.
In earnings, too, STADA recorded new all-time highs in Q1 2003. The Group’s net income increased to EUR 12.4 million in Q1 2003 (+11.4%), earnings before taxes (EBT) to EUR 21.7 million (+15.0%) and earnings before interest and taxes (EBIT) to EUR 25.2 million (+19.3%). In Q1 2003, EBITDA was EUR 34.1 million (+30.8%) due to the higher amortization of intangible assets in connection with the active acquisition policy. The earnings per share reached EUR 0.62 in Q1 2003 (Q1 2002: EUR 0.60 with 6.3% fewer shares) and diluted earnings per share (according to IAS) were EUR 0.60 (Q1 2002: EUR 0.50).
Geographically, the growth was established on a broad basis. Many national STADA sales companies were able to expand their sales in Q1 2003, in some instances very strongly - for instance, in France (+78%), Italy (+224%), Spain (+1,965%), the USA (+39%) and Germany (+15%). The sales efforts in growth markets were further intensified in Q1 2003 and led to a rise in the cost of sales ratio to 25.9% (Q1 2002: 24.7%).
On the whole, the first quarter of 2003 was the best quarter in the Company's history. From the perspective of the Executive Board, this confirms the target for the current financial year to become the 8th record year in a row with growth in sales and profits in the double-digit percentage range.
You'll find the complete quarterly report on the Internet at www.stada.com.
For more information, please contact:
STADA Arzneimittel AG
D-61118 Bad Vilbel
Tel.: +49 6101 603-113
Fax: +49 6101 603-506