Stada Arz reports solid start to 2012

German generic and branded drugmaker Stada Arzneimittel (SAZ: GR) reported first-quarter 2012 financial results, with sales development within expectations, further increased profitability and a gross margin rise of over 50%.

Group sales increased 6% to 443.4 million euros ($581.5 million). Net income for the quarter came in at 19.4 million euros (-35%, adjusted +18%) and EBITDA was 77.3 million euros (-3%, adjusted +12%), with earnings per share of 0.33 (-35%, adjusted +20%).

“Overall, Stada's business development was operationally good in the first quarter of 2012. Adjusted for largely planned, burdening one-time special effects, EBITDA and net income even met our highest expectations,” according to Hartmut Retzlaff, chairman of the executive board. “In addition, we made significant progress in the context of our accelerated acquisitions policy to complement our organic growth. The integration of business activities that we have just recently acquired is also progressing according to plan”, said Mr Retzlaff, expressing satisfaction with the successful progress of integration management.