OREANDA-NEWS. OJSC "VEROPHARM" [RTS:VRPH, MICEX:VFRM] announces its audited financial results for the first half of 2013 in accordance with the International Financial Reporting Standards (IFRS).

SALES

Sales for the first half of 2013 amounted to RUR 2,391.6 mln. The share of product segments in OJSC “Veropharm” sales is as follows:

Group of pharmaceutical products

Rx drugs sales amounted to RUR 1,791.9 mln. The Rx drugs sales made 74.8% of total sales of the Company;

OTC drugs sales amounted to RUR 383.9 mln. The OTC drugs sales made 16.1% of total sales of the Company.

Traditional drugs sales amounted to RUR 8.4 mln. The traditional drugs sales made 0.4% of total sales of the Company.

Group of non-pharmaceutical products

Non-pharmaceutical products sales made RUR 207.4 mln, which corresponds to 8.7% of total sales of the Company.

Under the Federal Reimbursement Program (FRP) Veropharm's sales amounted to RUR 18.6 mln according to the results of the first half of 2013, which corresponds to 0.8% of the Company's total sales.

The Russian Federation is the main market and ensures 96.0% of the Company's sales. During the first half of 2013 the Company has exported 4.0% of its products.

PROFIT

In the first half of 2013 the gross profit of OJSC “Veropharm” amounted to RUR 1,586.7 mln. The gross profit ratio for the first half of 2013 made 66.3%. The gross profit ratio of the segments of OJSC “Veropharm” is as stated:

Group of pharmaceutical products

In relation to Rx drugs it made 66.4% in the first half of 2013 against 74.5% in the first half of 2012;

In relation to OTC drugs it made 69.3% in the first half of 2013 against 69.7% in the first half of 2012;

In relation to traditional products it made 50.5% in the first half of 2013 against 55.0% in the first half of 2012.

Group of non-pharmaceutical products

In relation to non-pharmaceutical products it made 60.5% the first half of 2013 against 67.0% the first half of 2012.

In the first half of 2013 EBITDA amounted to RUR 717.2 mln. EBITDA margin made 30.0%.

Operating profit the first half of 2013 made RUR 655.1 mln. Operating profit margin made 27.8% in the first half of 2013.

Net profit for the reporting period amounted to RUR 499.4 mln. Net profit margin made 20.9%.

FACILITIES INVESTMENTS

In the first half of 2013 the amount of investments assigned for modernization and equipment of the main production facilities of the Company made RUR 1,190 mln.

DEBT

As at June 30, 2013 the debt of OJSC “Veropharm” amounted to RUR 2,162.4 mln, which makes no more than 25% of the Company's net assets value.