Stada Arzneimittel posts downturn in first nine months 2015 profit

German drugmaker Stada Arzneimittel (SAZ: Xetra) today reported that group sales increased by 3% to 1.53 billion euros ($1.64 billion) in the first nine months of 2015, achieving increases in sales in the firm’s two market regions Central Europe and Asia/Pacific & MENA.

Reported operating profit decreased in the reporting period by 3% to 179.8 million euros 4% to 281.2 million. Reported net income recorded a decrease of 9% to 89.9 million euros. After adjusting the key earnings figures for influences distorting the period comparison resulting from one-time special effects, adjusted operating profit fell 6% in the first nine months of 2015 to 217.8 million euros. Adjusted EBITDA was down 7% to 293.8 million euros. Adjusted net income decreased 7% to 126.9 million euros.

Overall, we are pleased with the business development of Stada in the first nine months of 2015. Despite continued difficult framework conditions in the market region CIS/Eastern Europe, the key earnings figures decreased less than we had originally expected due to a robust development in the other market regions, among other things,” says Hartmut Retzlaff, chairman of the executive board.