LAVIPHARM S.A.
H1 2008 Financial Results.
LAVIPHARM sustained its performance during the 1st Half of 2008.
The parent company Lavipharm SA sustained the level of Sales (Euro 27.8 million from Euro 27.0 million), Gross Profit (Euro 7.0 million from Euro 6.5 million) and EBITDA (Euro 2.7 million from Euro 2.6 million) in the first Half of 2008. In addition, financial expenses decreased significantly by 64.8% (Euro 1.8 million from 3.9 million) due to the reduction of Bank Loans achieved through the company's Share Capital Increase in September 2007.
As a result, Profits before Taxes improved significantly and amounted to Euro 1.7 million from Losses of Euro 2.5 million in H1 2007. In the same context, Profits after Taxes increased to Euro 837 K from Losses of Euro 3.9 million H1 2007.
The sales of Lavipharm Hellas, the Group's subsidiary active in the area of pharmaceuticals, reported an increase of 20.2%, continuing 2007's sales high growth (50%). Furthermore, the sales of Castalia Laboratoires Dermatologiques, the Group?s subsidiary active in the area of skincare, increased by 10.7%, following the recent renewal of the company's cosmetics brand.
Consolidated Sales amounted to Euro 119.7 million compared to Euro 125.3 million in H1 2007, while Gross Profit amounted to Euro 20.4 million compared to Euro 23.0 million. Operating expenses increased by 16.9%, mainly due to the increase of distribution and marketing expenses, expenses for the restructuring of the sales network, and due to a provision for reimbursement towards Insurance Organizations (according to a recent Ministry Directive). As a result, EBITDA dropped to Euro 1.1 million from Euro 9.1 million, Losses before Taxes to Euro 6.4 million from 1.7 million and Losses after Taxes and Minority Rights to Euro 5.5 million from 3.8 million in H1 2007.
Lavipharm is an integrated Group engaged in the research, development, manufacturing, marketing, sales, wholesaling, logistics, and retailing of pharmaceutical, cosmetic and consumer health products in Greece with a strong international activity.
The parent company Lavipharm SA sustained the level of Sales (Euro 27.8 million from Euro 27.0 million), Gross Profit (Euro 7.0 million from Euro 6.5 million) and EBITDA (Euro 2.7 million from Euro 2.6 million) in the first Half of 2008. In addition, financial expenses decreased significantly by 64.8% (Euro 1.8 million from 3.9 million) due to the reduction of Bank Loans achieved through the company's Share Capital Increase in September 2007.
As a result, Profits before Taxes improved significantly and amounted to Euro 1.7 million from Losses of Euro 2.5 million in H1 2007. In the same context, Profits after Taxes increased to Euro 837 K from Losses of Euro 3.9 million H1 2007.
The sales of Lavipharm Hellas, the Group's subsidiary active in the area of pharmaceuticals, reported an increase of 20.2%, continuing 2007's sales high growth (50%). Furthermore, the sales of Castalia Laboratoires Dermatologiques, the Group?s subsidiary active in the area of skincare, increased by 10.7%, following the recent renewal of the company's cosmetics brand.
Consolidated Sales amounted to Euro 119.7 million compared to Euro 125.3 million in H1 2007, while Gross Profit amounted to Euro 20.4 million compared to Euro 23.0 million. Operating expenses increased by 16.9%, mainly due to the increase of distribution and marketing expenses, expenses for the restructuring of the sales network, and due to a provision for reimbursement towards Insurance Organizations (according to a recent Ministry Directive). As a result, EBITDA dropped to Euro 1.1 million from Euro 9.1 million, Losses before Taxes to Euro 6.4 million from 1.7 million and Losses after Taxes and Minority Rights to Euro 5.5 million from 3.8 million in H1 2007.
Lavipharm is an integrated Group engaged in the research, development, manufacturing, marketing, sales, wholesaling, logistics, and retailing of pharmaceutical, cosmetic and consumer health products in Greece with a strong international activity.