Stada shows strong 1st-qtr sales and earnings growth
German generic drugmaker Stada Arzneimittel (SAZ: Xetra), the subject of a ~$5.6 billion takeover bid by the private equity groups Bain Capital and Cinven reports that group sales for the first-quarter 2017 increased 14% to 566.3 million euros ($615.6 million). Currency and portfolio adjusted, sales rose 8% to 538.4 million euros.
Reported operating profit for the quarter increased 36% to 76.5 million euros. The adjusted operating profit rose by 20% to 81.7 million euros. Reported earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 27% to 108.6 million euros. Adjusted EBITDA recorded growth of 18% to 108.5 million euros.
“We have made a good start in the first quarter of 2017 and significantly increased both sales and all reported and adjusted key earnings figures. Thus, we are on track to reach the guidance for the current financial year,” says Dr Matthias Wiedenfels, chairman of the executive board at Stada.
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