Veropharm Posts 46% Q1 Net Profit Growth

Veropharm, one of Russia’s largest drug makers, saw first quarter 2012 net profit increase 46.1 percent year-on-year to 494.3 million rubles ($15 million) to IFRS, the company said on Tuesday.

The company’s revenue for the quarter grew by 18 percent year-on-year to 1.63 billion rubles.

EBITDA rose 20.2 percent in the first three months of 2012 to 499.5 million rubles, while EBITDA margin increased to 30.6 percent from 30.0 percent, Veropharm said.

Veropharm’s fixed capital investment soared 189 percent year-on-year to 137 million rubles.

The company’s debt stood at 704.4 million rubles as of the end of the first quarter of 2012 and stayed within 20 percent of its net asset value.


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