Reig Jofre closes the first quarter of 2020 with a growth of 26% in sales

  • Relevant growth in Pharmaceutical Technologies, + 12%, quantitative leap in Specialty Pharmacare, + 92% and good performance in Consumer Healthcare + 7%
  • The growth reflects the revenue from the new Osteoarticular business acquired in mid-2019
  • Special mention may be made of the performance in the domestic market, + 60%, due to the new Osteoarticular product line and the manufacture of injectable essential drugs in the first weeks of the COVID-19 crisis
  • Profitability on sales has evolved positively, thanks to the containment of operating expenses, which is partly due to the current uncertainties. However, the essential drugs associated with COVID-19 treatment have a lower profitability than the company average and little impact on the result.
  • EBITDA stands at 13% over sales, and registered a growth of 43% compared to the first quarter of the previous year
  • Investments continue at the expected level, with the main volume associated with the construction of the new Injectables Plant in Barcelona
  • The debt/EBITDA ratio has decreased in comparison to the end of 2019 and currently stands at 2.5
  • Production in the new plant is expected to suffer some delay due to the difficulty occasioned by the COVID-19 crisis in relation to the completion of the work and the commissioning of the lyophilisation lines, initially planned for the second half of 2020