STADA Arzneimittel AG (STDAY.PK,STDAF.PK), a pharmaceutical company, reported Thursday that its fiscal 2017 net income reduced 1% to 85.3 million euros from 85.9 million euros last year. Earnings per share were 1.37 euros, down from 1.38 euros a year ago.
Adjusted net income was 195.6 million euros or 3.14 euros per share, compared to 177 million euros or 2.85 euros per share a year ago, mainly reflecting positive development of the operating profit in Belgium, Germany, Spain and Russia.
The adjusted EBITDA increased 9% to 433.9 million euros.
Group sales increased 8% to 2.31 billion euros from prior year's 2.13 billion euros. This rise was mainly due to the increase in the Belgian, Italian and Serbian Generics segment as well as in the Russian Branded Products segment. Group sales adjusted by currency and portfolio effects increased by 6%.
Further, STADA targets to accelerate growth and increase its ranking position in the global pharma market in the coming years. To achieve this target the Executive Board and the Supervisory Board of STADA consider it necessary, to significantly increase investments in R&D, new products, technologies and markets.
Against this backdrop, both bodies suggest to the General Meeting on June 6, 2018, to pay a dividend for the 2017 financial year of 0.11 euro per STADA share, down from previous year's 0.72 euro.
Looking ahead, the Executive Board expects further Group growth for financial year 2018 as compared to the prior year. Group sales adjusted for currency and portfolio effects are expected to be 2.495 billion euros plus or minus 5%, representing a growth in the high single digits adjusted for currency and portfolio effects. Adjusted EBITDA is expected to be 480 million euros plus or minus 5% and adjusted net income 230 million euros plus or minus 5%.
With regard to the strategic outlook for 2019, the Executive Board expects to be able to achieve adjusted Group sales of 2.575 billion euros bn plus or minus 5%, an adjusted EBITDA of 540 million euros plus or minus 5% and adjusted net income of 275 million euros plus or minus 5%.
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