Gedeon Richter posts 1st-half sales growth but earnings decline

6 August 2019

Hungary's largest drugmaker Gedeon Richter (RICHT: HB) today posted financial results, showing that consolidated sales at 241,522 million forint ($819.5 million; 753.9 million euros), increasing 7.6% in forint terms and up 5.6% in euros during the first six months to June 2019 when compared with the first half of 2018.

Gross profit in first-half 2019 at 137,491 million forint increased by 5.5% in forint terms and by 3.5% in euros when compared to the same period of the previous year. The gross margin declined to 56.9% during the reported period. Earnings before interest, taxes, depreciation and amortization (EBITDA) were 51,915 million forint, down 2.5%, withbasic earnings per share (EPS) at 21 forint, up 1.9%.

Richter’s share declines 2.88% to 15.54 euros in early trading

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