Pharmacy Chain 36.6 announces Q1 2007 financial results02.08.2007 AUGUST 2, 2007, MOSCOW – OAO Pharmacy Chain 36.6 [MICEX: RU14APTK1007; RTS: APTK] announces non-audited consolidated financial results for the first quarter of 2007 in accordance with the International Financial Reporting Standards (IFRS). 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.
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