OREANDA-NEWS. OJSC "VEROPHARM" [RTS:VRPH, MICEX:VFRM] announces its audited financial results for the first quarter of 2013 in accordance with the International Financial Reporting Standards (IFRS).

SALES

Sales the first quarter of 2013 amounted to RUR 1,199.7 mln. The share of product segments in OJSC “Veropharm” sales is as follows:

Group of pharmaceutical products

Rx drugs sales amounted to RUR 959.0 mln. The Rx drugs sales made 79.9% of total sales of the Company;

OTC drugs sales amounted to RUR 151.5 mln. The OTC drugs sales made 12.6% of total sales of the Company.

Traditional drugs sales amounted to RUR 3.8 mln. The traditional drugs sales made 0.3% of total sales of the Company.

Group of non-pharmaceutical products

Non-pharmaceutical products sales made RUR 85.39 mln, which corresponds to 7.1% of total sales of the Company.

Under the Federal Reimbursement Program (FRP) Veropharm’s sales amounted to RUR 8.7 mln according to the first quarter of 2013, which corresponds to 0.7% of the Company’s total sales.

The Russian Federation is the main market and ensures 93.6% of the Company's sales. For the first quarter of 2013 the Company exported 6.4% of its products.

PROFIT

In the first quarter of 2013 the gross profit of OJSC “Veropharm” amounted to RUR 794,3 mln. The gross profit ratio for the first quarter of 2013 made 66.2% against 68.4% for the first quarter of 2012. The gross profit ratio of the segments of OJSC “Veropharm” is as stated:

Group of pharmaceutical products

In relation to Rx drugs it made 67.2% in the first quarter of 2013 against 68.9% in the first quarter of 2012;

In relation to OTC drugs it made 65% in the first quarter of 2013 against 70.6% in the first quarter of 2012;

In relation to traditional products it made 39.3% in the first quarter of 2013 against 34% in the first quarter of 2012.

Group of non-pharmaceutical products

In relation to non-pharmaceutical products made 57.9% in the first quarter of 2013 against 67.4% in the first quarter of 2012.

For the first quarter of 2013 EBITDA amounted to RUR 500.3 mln. EBITDA margin increased by 11.1% as compared to the same period of the previous year and made 41.7%.

Operating profit increased by 2.1% in the 1st quarter of 2013 as compared to the same period of 2012 and made RUR 468.3 mln. The operating profit margin made 39% in the first quarter of 2013, increase by 11% as compared to the same period in 2012.

Net profit for the reporting period amounted to RUR 342.7 mln.

FACILITIES INVESTMENTS

In the first quarter of 2013 amount of investments assigned for modernization and equipment of the main production facilities of the Company made RUR 401.8 mln.

DEBT

As at March 31, 2013 the debt of OJSC “Veropharm” amounted to RUR 1,884.99 mln, which makes no more than 25% of the Company’s net assets value.