OREANDA-NEWS. On September 05, 2007 OAO Pharmacy Chain 36.6 [RTS:APTK; MICEX:RU14APTK1007] announced its non-audited consolidated financial results for the first half of 2007 in accordance with the International Financial Reporting Standards (IFRS), reported the press-centre of OAO Pharmacy Chain 36.6.

Sales
Consolidated sales in H1 2007 increased by 78,6% year-on-year and reached US$390,5 million.

Sales in the pharmacy segment increased by 92,0% year-on-year in H1 2007 and reached US$302,9 million. The significant sales growth in the pharmacy segment is primarily a result of the large number of pharmacies acquired in 2006. The sales of pharmacies that had operated for one year or more as of the beginning of 2006 (like-for-like sales, US$) grew by 34,6%.

Veropharm’s sales reached US$59,5 million, up 31,7% over the first half 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$12,7 million in H1 2007.

Profit
Consolidated gross profit in H1 2007 grew by 66,1% and reached US$130,9 million. Expansion of the pharmacy chain into the regions led to a decrease in the gross profit margin in the retail segment to 27,5%. Retail segment gross margin increased in Q2 2007 to 28,0%, compared to 27,0% in Q1 2007.

Consolidated EBITDA increased by 63,9% and reached US$15,0 million.  EBITDA for the production business grew by 38,9% and reached US$17,0 million. In the retail sector EBITDA decreased to US$  - 3 million.  EBITDA for EMC totaled US$3,5 million.

The Company’s net losses in H1 2007 totaled US$16,9 million.

Debt
Net debt as of the end of H1 2007 amounted to US$247,1 million.