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.