STADA Arzneimittel AG, (STDAY.PK, STDAF.PK),a pharmaceutical and healthcare company, Tuesday posted a higher net income for the first quarter, reflecting higher revenues. Further, the firm also confirmed its outlook for 2014.
For the three-month period, the firm reported EBITDA of 96.9 million euros, compared with 77.2 million euros during the corresponding quarter last year.
On an adjusted basis, the firm recorded EBITDA of 98.5 million euros, compared with 92.3 million euros during the comparable period previous year.
The net income for the period was reported as 34.9 million euros or euro 0.59 per share, compared with the prior year's figure of 19.4 million euros or euro 0.33 per share.
Adjusted net income declined to 36.7 million euros or euro 0.62 per share, due to a temporarily increased tax rate.
Group sales rose to 477 million euros, from 443.4 million euros during the same period last year, mainly due to the substantial sales rise in branded products. The company reported significant sales increase in the market region CIS/Eastern Europe, particularly in Russia and Serbia.
Cnfirming its outlook, the company said it still expects further growth in sales and earnings for 2013 as well as 2014, and adjusted EBITDA in the high single-digit percent in 2013. For fiscal 2014, STADA reiterated that it expects at least 2.15 billion euros in group sales, adjusted EBITDA of about 430 million euros and net income of approximately 215 million euros.
For comments and feedback: editorial@rttnews.com