Grindeks Announced Financial Results for 2011
OREANDA-NEWS. March 07, 2012. JSC "Grindeks" has submitted the non-audited consolidated financial statements for 2011 to “NASDAQ OMXRiga”. Non-audited financial results show that the turnover of the Group of "Grindeks" amounted to 69.6million lats in 2011, which is by 4.5 million lats or 6.9% more than in
In 2011, ROE was 10.8%; ROA was 8.9%; ROS was11.2%; liquidity was 2.98.
Sales volume of the final dosage forms of"Grindeks" was 60.4 million lats in 2011 and has increased by 2.7 million lats or 4.7% more in comparison with 2010. The main markets of the final dosage forms are
In 2011, sales of the active pharmaceutical ingredients reached 9.2 million lats, which is by 1.8 million lats or 24.3% more than in 2010. The main active pharmaceutical ingredient export markets for"Grindeks" are
Chairman of the Board of JSC"Grindeks" Juris Bundulis: “In the foreground of our business is the patient –a human being with his health. It helps people both in times of need and inimproving the quality of life. On the one hand, this business has a humanitarian character, on the other hand, it is a business that requires enormous resources, besides, competition, both in the final dosage form and in the active pharmaceutical ingredient business, is very fierce. However, it gives a stimulus to develop and look for new solutions. In 2011, "Grindeks" continued to strengthen its position in existing markets and increased the turnover up to 69.9 million lats. In order to achieve better results in the future and to offer patients more efficient and modern medications, the strategic priority of "Grindeks" will be the product range expansion. In addition to existing therapeutic groups, "Grindeks" will develop new therapeutic directions – gastrointestinal and antimicrobial medications. In 2012, "Grindeks" will also pay special attention to strengthening the position of the foreign representative offices in all markets.
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