Oct 27 2009
Genomma Lab Internacional, S.A.B. de C.V. (BMV: LAB) ("Genomma Lab" or "the Company"), announced today its results for the quarter ended September 30, 2009. All figures included herein were prepared in accordance with Mexican GAAP; figures are stated in nominal Mexican pesos. Also, the following consolidated figures show the Company's Spanish operations reclassified as discontinued operations according to Mexican GAAP.
3Q09 Highlights (vs. 3Q08)
- During the third quarter of 2009, the Company launched Primer Nivel Por Tu Salud generic pharmaceuticals brand; the launch included 167 medical prescription ("RX") and over the counter pharmaceuticals ("OTC") products.
- Also, during the third quarter, Genomma Lab signed a strategic alliance agreement with Grupo Televisa S.A.B. de C.V. (NYSE: TV) to market and distribute OTC and personal care products in the U.S. and Puerto Rico.
- Net Sales for the quarter reached Ps. 1,123.7 million, an increase of 57.9%
- EBITDA(1) increased 43.6%, to Ps. 296.8 million. This represents a 26.4% margin during the period.
- Earnings per Share(2) increased 37.5%, to Ps. 1.09.
- International Net Sales rose 295.9%, to Ps. 187.8 million.
- During the third quarter, Genomma Lab successfully launched four products under three existing brands (Base Brands(3) and Prior Year Launches(4)) as part of our line extension strategy.
- The Company also launched six products under four New Brands(5), as part of its new product launch plan during the third quarter.
(1) EBITDA is calculated by adding pre-operative expenses, depreciation and amortization to the operating income.
(2) Earnings per share are for the last 12 months and were calculated using the weighted average of shares outstanding for the period.
(3) As defined below.
(4) As defined below.
(5) As defined below.
Comments from the Chairman and CEO
Mr. Rodrigo Herrera, Chairman and Chief Executive Officer, stated: "We are pleased to report Genomma Lab's third quarter 2009 results, which demonstrate outstanding growth and profitability. We are delighted to see that consumer demand for our products remained strong during the third quarter. We will remain cautious until we are sure that the economic situation, and its effect on products demand, has ended.
"We are particularly excited about the launch of Primer Nivel Por Tu Salud, our generic pharmaceuticals brand, since we believe that the market penetration of the generic pharmaceuticals industry in Mexico remains low and we plan to capitalize on the accelerated growth rates estimated for this industry in the coming years. Also, we believe that we have consolidated our business model and feel ready to enter the U.S. and Puerto Rican markets through our strategic alliance with Televisa.
"We will continue to develop and launch innovative products under premium brands, supported by our continuous advertising strategy to drive growth in revenues, earnings and cash generation."
SOURCE Genomma Lab Internacional, S.A.B. de C.V.
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