OREANDA-NEWS. OJSC "VEROPHARM" [RTS:VRPH, MICEX:VFRM] announces its unaudited financial results of the first quarter of 2014 in accordance with the International Financial Reporting Standards (IFRS).

SALES

Sales in the first quarter of 2014 amounted to RUR 1,311 mln. The share of product segments in OJSC “Veropharm” sales is as follows:

Group of pharmaceutical products

Rx drugs sales amounted to RUR 948 mln. The Rx drugs sales made 72.3% of total sales of the Company;

OTC drugs sales amounted to RUR 187 mln. The OTC drugs sales made 14.2% of total sales of the Company;

Traditional drugs sales amounted to RUR 2 mln. The traditional drugs sales made 0.2% of total sales of the Company;

Group of non-pharmaceutical products

Non-pharmaceutical products sales made RUR 174 mln, which corresponds to 13.3% of total sales of the Company.

Under the Federal Reimbursement Program (FRP) Veropharm's sales amounted to RUR 17.6 mln according to the results of the first quarter of 2014, which corresponds to 1.3% of the Company's total sales.

The Russian Federation is the main market and ensures 97.5% of the Company's sales. During the first quarter of 2014 the Company has exported 2.5% of its products.

PROFIT

In the first quarter of 2014 the gross profit of OJSC “Veropharm” amounted to RUR 644 mln. The gross profit ratio in the first quarter of 2014 made 49.1%. The gross profit ratio of the segments of OJSC “Veropharm” is as stated:

Group of pharmaceutical products

In relation to Rx drugs it made 44.8% in the first quarter of 2014;

In relation to OTC drugs it made 57.0% in the first quarter of 2014;

In relation to traditional products it made 42.7% in the first quarter of 2014.

Group of non-pharmaceutical products

In relation to non-pharmaceutical products it made 64.4% in the first quarter of 2014.

In the first quarter of 2014 EBITDA amounted to RUR 310 mln. EBITDA margin made 23.7%.

Operating profit in the first quarter of 2014 made RUR 276 mln. Operating profit margin made 21.1% in the first quarter of 2014.

Net profit for the reporting period amounted to RUR 30 mln. Net profit margin made 2.3%.

FACILITIES INVESTMENTS

In the first quarter of 2014 the amount of investments assigned for modernization and equipment of the main production facilities of the Company made RUR 404 mln.

DEBT

As at March 31, 2014 the debt of OJSC “Veropharm” amounted to RUR 2,852 mln, which makes 31% of the Company's net assets value.