For the first half of 2018, the results confirm our double-digit growth
The Management Board of PharmaNutra S.p.A. has examined and approved the half-year report as consolidated at 30 June 2018 and written in pursuance of the ”Regolamento Emittenti AIM Italia/Mercato Alternativo del Capitale” and in compliance with the IFRS international accounting standards.
In the first half of 2018 our Company recorded revenues of 22.1 million euros, up 19.8% compared to the same period of the previous year, a result achieved thanks to the consolidation of activities on the Italian market and on foreign markets. In particular, there is a notable strengthening of our international presence, confirming the success of the research and development activities. On the Italian market there are excellent performances, obtained also thanks to the record launching of the new UltraMag® product, supported by the growth of the Sales Scientific Informers network.
More specifically, the turnover of Sideral® brand products has risen from € 13.7 million to € 17.1 million (+ 25%). There has also been a significant increase in turnover of 28% for products designed for the medical device market for osteoarticular diseases branded by Cetilar®, whose revenues grew from 1.7 million to 2.1 million.
This performance’s significant increase concerning the two main product lines is attributable to the continuous research and development activities and to the clinical activities around the production. This generates a stronger awareness about the efficacy of the products in the medical class and an increasing perception of this quality in favor of consumers. The PharmaNutra Group has further strengthened its presence on international markets with a growth in revenues from 3.4 million euros to 5 million euros, with a 44.3% growth and an incidence of 22.5% of total consolidated revenues.
The PharmaNutra Group’s Gross Operating Result stands at around 5.5 million euros, equal to a margin of 25% on turnover and with a 20% increase compared to 30 June 2017. Net Profit is 2.9 millions of euros, with a 22% increase compared to 30 June 2017. The Net Financial Position at 30 June 2018 remains in line with the figure as at 31 December 2017, rising from net availability of 9.1 million euros to net availability of 9 millions. It should be noted that during the first half of 2018 PharmaNutra S.p.A. paid dividends to the shareholders for an amount of 3.2 million euros, equal to about 53% of the net profit made in the previous financial year, given its structural financial capacity and the consolidated corporate policy practice of dividends.
Andrea Lacorte, Chairman of PharmaNutra SpA, commented: “The result for the first half of 2018 confirms our expectations in terms of company’s growth and strengthening. All our product lines have performed very well, obtaining important feedback and appreciation from the market, confirming the effectiveness of the PharmaNutra Group’s scientific research, which proves to be valid not only in the treatment of iron deficiency and the osteoarticular apparatus, but also in the magnesium integration segment. The technological innovation applied to the product is the lever on which we can make the difference and it is in this direction that we will continue to work for the development of new solutions”.
“We can not but be proud of the results we obtained. It allows us to project ourselves towards the second part of the year with great confidence”, added Vice President Roberto Lacorte. “This year again our company continues on its strong double-digit growth trend and creates great prospects for further positioning abroad to increase its presence and expand into new and important market segments with new patented products and formulations of great and proven effectiveness. The business potential is wide and we realize that our products have immediate positive feedback on the markets”.
Here are more details, with a reconstruction of the first six months of 2018 main events and the Group’s accounting statements prepared in accordance with the International Accounting Standards IFRS: http://www.pharmanutra.it/wp-content/uploads/2018/09/CS-Pharmanutra-Semestrale-2018-crescita-a-doppia-cifra.pdf