Pharmacy Chain 36.6 Announces Q1 2007 Financial Results
OREANDA-NEWS. On August 02, 2007 OAO Pharmacy Chain 36.6 [MICEX: RU14APTK1007; RTS: APTK] announced non-audited consolidated financial results for the first quarter of 2007 in accordance with the International Financial Reporting Standards (IFRS), reported the press-centre of OAO Pharmacy Chain 36.6.
Sales
Consolidated sales in Q1 2007 increased by 86,6% year-on-year and reached US$185,1 million.
Sales in the pharmacy segment increased by 104,5% year-on-year in Q1 2007 and reached US$148,7. The significant growth in the pharmacy segment is primarily a result of the large number of pharmacies acquired in 2006. The sales of pharmacies that had operated for one year or more as of the start of 2006 (like-for-like sales) grew by 34,7%.
Veropharm’s sales reached US$24.1, up 22,4% over the first quarter of 2006, primarily as a result of strong growth in sales of the prescription drugs segment.
Sales of the European Medical Center (EMC) totaled US$6,3 million in Q1 2007.
Profit
Consolidated gross profit in Q1 2007 grew by 69,6% and reached US$60,6 million. Expansion of the pharmacy chain into the regions led to a decrease in the gross profit margin in the retail segment to 27,0%.
Consolidated EBITDA increased by 52,4% and reached US$8,3 million. EBITDA for the production business grew by 29,3% and reached US$7.1 million. In the retail sector EBITDA decreased to US$0,7 million. EBITDA for EMC totaled US$1,8 million.
The Company’s net losses in Q1 2007 totaled US$5,7 million.
Debt
Total debt as of the end of Q1 2007 amounted to US$259,2 million.
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