August 30, 2013, MOSCOW - OJSC «VEROPHARM» [RTS:VRPH, MICEX:VFRM] announces its audited financial results for the first half of 2013 in accordance with the International Financial Reporting Standards (IFRS).

SALES
  • Sales for the first half of 2013 amounted to RUR 2,391.6 mln. The share of product segments in OJSC "Veropharm" sales is as follows: Group of pharmaceutical products
    • Rx drugs sales amounted to RUR 1,791.9 mln. The Rx drugs sales made 74.8% of total sales of the Company;
    • OTC drugs sales amounted to RUR 383.9 mln. The OTC drugs sales made 16.1% of total sales of the Company.
    • Traditional drugs sales amounted to RUR 8.4 mln. The traditional drugs sales made 0.4% of total sales of the Company.
    Group of non-pharmaceutical products
    • Non-pharmaceutical products sales made RUR 207.4 mln, which corresponds to 8.7% of total sales of the Company.
  • Under the Federal Reimbursement Program (FRP) Veropharm's sales amounted to RUR 18.6 mln according to the results of the first half of 2013, which corresponds to 0.8% of the Company's total sales.
  • The Russian Federation is the main market and ensures 96.0% of the Company's sales. During the first half of 2013 the Company has exported 4.0% of its products.
PROFIT
  • In the first half of 2013 the gross profit of OJSC "Veropharm" amounted to RUR 1,586.7 mln. The gross profit ratio for the first half of 2013 made 66.3%. The gross profit ratio of the segments of OJSC "Veropharm" is as stated: Group of pharmaceutical products
    • In relation to Rx drugs it made 66.4% in the first half of 2013 against 74.5% in the first half of 2012;
    • In relation to OTC drugs it made 69.3% in the first half of 2013 against 69.7% in the first half of 2012;
    • In relation to traditional products it made 50.5% in the first half of 2013 against 55.0% in the first half of 2012.
    Group of non-pharmaceutical products
    • In relation to non-pharmaceutical products it made 60.5% the first half of 2013 against 67.0% the first half of 2012.
  • In the first half of 2013 EBITDA amounted to RUR 717.2 mln. EBITDA margin made 30.0%.
  • Operating profit the first half of 2013 made RUR 655.1 mln. Operating profit margin made 27.8% in the first half of 2013.
  • Net profit for the reporting period amounted to RUR 499.4 mln. Net profit margin made 20.9%.
FACILITIES INVESTMENTS
  • In the first half of 2013 the amount of investments assigned for modernization and equipment of the main production facilities of the Company made RUR 1,190 mln.
  • As at June 30, 2013 the debt of OJSC "Veropharm" amounted to RUR 2,162.4 mln, which makes no more than 25% of the Company's net assets value.
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