logo
Share SHARE
FONT-SIZE Plus   Neg

STADA 2011 Prelim. Net Profit Falls; Backs Long-term Targets - Quick Facts

STADA Arzneimittel AG (STDAF.PK,STDAY.PK) confirmed its 2011 preliminary results, by reported a plunge in its 2011 net income to 22.0 million euros or 0.37 euros per share from 68.4 million euros or 1.16 euros per share a year ago. However, on an adjusted basis, net profit totaled 146.6 million euros or 2.49 euros per share, higher than last year's 133.3 million euros or 2.27 euros per share.

With varying development in individual national markets, Group sales went up 5% in the reporting year to 1.71 billion euros from 1.63 billion euros in the earlier year period. When effects on sales based on changes in the Group portfolio and currency effects are taken into account, Group sales rose 5% in 2011.

The company said that 2011 reported key earnings figures dropped significantly due to high burdening one-time special effects, mainly as a result of impairments on receivables from various Serbian pharmaceutical wholesalers, operationally, i.e. excluding one-time special effects, however, they all exceeded the key earnings figures, adjusted accordingly, of the prior year.

Despite these earnings burdening one-time special effects from the further implementation of the "STADA - build the future" program, the Executive Board expects a very significant increase in reported net income for 2012 as compared with 2011.

In addition, the Executive Board confirmed its long-term prognosis envisaged for 2014, according to which Group sales of nearly 2.15 billion euros, at an adjusted level, EBITDA of about 430 million euros and net income of around 215 million euros should be reached.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Bank of Nova Scotia or otherwise known as Scotiabank, Friday reported lower net profit for the third quarter, in the absence of a year-ago gain. Earnings per share, however, came in line with the Street view. Further, the company said it raised its quarterly dividend by 2 cents. Non-traditional discount and variety stores operator Big Lots Inc. (BIG) Friday reported a decline in net profit for the second quarter, while net sales grew 1.2 percent from the prior year. Comparable sales for the quarter increased 2.8 percent. Google has rejected the European Union's charges that it abused its market power and the demanded that it change the way it ranks online comparison shopping services in its search results, setting up a potentially long legal battle with the EU regulator empowered to levy billions of euros in fines
comments powered by Disqus
Follow RTT