Mar 22 2010
2009 for Octapharma continued the focus on consolidation with the
introduction of our own plasma production, resulting in investments
exceeding €135M. Against this backdrop, for the fifth consecutive year,
Octapharma realised a record turnover and profit. Our Net turnover
passed the mark of 1 billion at €1,009M equivalent to an increase of 14%
over €886M in 2008.
In terms of gross profit, this increased from €367M in 2007 to €415M in
2009. The gross margin was kept stable at 41% as a result of increased
efficiency in our plasma centers and production plants, even though 2009
again included costs for the introduction of our own plasma production
capacities above €50M.
Continuous cost awareness together with sustained efficiencies in our
processes ensured that the operating costs remained 13% equivalent to
€135M in 2009 versus €117M in 2008. This meant that Octapharma reached a
satisfactory level in its operating income (earnings before interest and
taxes) of €278M (28% margin), compared with €256M (29% margin) in 2008.
Overall, the 2009 results of €254M against €231M in 2008 is below our
budget, though in line with the management expectations after the first
half of 2009, particularly when factoring in the considerable
establishment costs related to introducing our plasma production and
large expenses related to changes at the production facilities.
As regards liquidity, the continued positive results have ensured that
there is a cash buffer above €270M by year end, strong equity position
with €968M or 79% of the balance sum, guaranteeing the financial basis
for the planned investments and continuing our growth in the coming
years.
Octapharma has benefited largely from the very positive developments in
the market. However, Chairman Wolfgang Marguerre emphasised that
Octapharma’s satisfying result for 2009 came into fruition primarily
because of the good contribution and impressive performance of all
employees.
Looking forward, the outlook for Octapharma in the year 2010 remains
challenging though cost awareness and productivity should enable an
outcome at an almost unchanged level.
Source Octapharma