Reig Jofre releases first half 2018 results note

Reig Jofre increases sales by 7%, EBITDA by 12,5% and net profit by 7,5% at the end of June

  • The company reached €90.1 M in sales (+ 7%), driven mainly by the excellent growth of its nutritional supplements line in France (+ 42%) and the antibiotic and injectable products line (+ 11%).
  • EBITDA stood at €7.6 M (+ 12.5%) and net result at €2.96 M, with 7.5% growth due mainly to the impact of higher amortizations.
  • Operating expenses increased 13% with respect to previous year, due mainly to the increase in marketing expenses of the nutritional supplements division by Forté Pharma’s launch campaigns and higher R&D expenses.
  • Total investment in the first half amounted to €8 M. The investment in productive assets reached €5.6 M derived from the completion of the Toledo plant expansion; the start of the new facilities construction at the Barcelona plant; and the adaptation to the European Directive EU 2011/62 for the prevention of counterfeit medicines. Investment in R&D stood at additional €2.4 M (+ 11%).
  • The company’s liquidity reduced due to the increase in investments and non-current assets. Net debt stood at €20.2 M from €18.3 M at the end of 2017.
  • A scrip dividend was distributed, which represented the issuance of 896,889 new shares, 1.4% outstanding shares more. Free float will increase more than 8% up to 15.8%.