NIZHNY-NOVGOROD – German-based pharmaceutical concern Stada doubled sales in Russia to €76.9 million in Q1 2017, the company said in a report.
The company boosted sales of branded products 2.9-fold to €52.4 million in Q1, while sales of generics increased 21% to €24.5 million.
The company noted in its report that the financial results for the period were significantly affected by exchange-rate differences.
Russia’s pharmaceutical market is beginning to recover and is demonstrating growth both monetarily and in physical volume, the report said. Against this backdrop, the company succeeded in significantly increasing sales and profit in Q1 2017 in comparison to the same period last year, according to Stada AG Senior Vice President and NizhPharm CEO Dmitry Yefimov.
The group’s revenue as a whole in Q1 totaled €566.3 million, up 14% year-on-year. Taking into account exchange rate differences, sales grew 8% to €538.4 million.
Earnings before interest, taxes, depreciation and amortization (EBITDA) grew 27% to €108.6 million, while adjusted EBITDA increased 18% to €108.5 million.
The group’s net profit rose 66% to €49.2 million, while adjusted net profit grew 33% to €53.3 million.
