News

REIG JOFRE INCREASES REVENUES BY 7% AND EBITDA BY 10%, DRIVEN BY INTERNATIONAL EXPANSION

• Revenue growth led by the prescription and hospital medicine product units.
• Group operating profits grew by 22% over the previous year.
• Consolidation of the business in international markets, which is growing by 15% and already accounts for 58% of revenues.
• Industrial investments of €13.6 M for capacity and productivity expansion at the plants (€12.2 M) and activation of R&D projects (€1.4 M).

REIG JOFRE, (BME:RJF), a pharmaceutical company listed on the Spanish stock exchange and a global benchmark in essential solutions for people’s health, today announced its financial results for the third quarter of 2024. The company continues its sustained growth, with a 7% increase in revenues to 253 million euros and a 10% increase in EBITDA to 28.9 million euros. This growth is led by the Specialty Pharmacare division, focused on prescription products, and Pharmaceutical Technologies, which produces antibiotics, injectables and lyophilizates.

Operating profit grew by 22% to EUR 10.7 million, driven by the focus on product profitability and the containment of other operating expenses.

EBITDA reached 28.9 million euros, a year-on-year increase of 10%, with a margin of 11.4% on sales, mainly due to the Consumer Healthcare business, focused on the in-house brand FORTÉ PHARMA, as well as an increase in productivity at its industrial plants, despite the inflationary context.

Consolidated profit amounted to EUR 8 million, 2% higher than in the third quarter of 2023.

Reig Jofre continues to drive its growth through industrial investments totaling 13.6 million euros in the third quarter of 2024. This capital will be used to expand capacity and productivity at the Toledo and Barcelona plants, as well as the vertical integration of biotechnology, with an investment of 3.7 million euros in the Leanbio project.

Net financial debt amounted to EUR 63 million, down EUR 6 million in the fourth quarter because of the improvement in working capital used to finance daily operations, maintaining a debt/EBITDA ratio of 1.7x, equal to the same period last year.

Reig Jofre expects a more contained year-end than in previous years with the aim of increasing profitability in the medium and long term, supported by the profitable growth of its main business areas and expansion in international markets.

In the words of Laura Martí, CFO of REIG JOFRE, these results bring us even closer to our commitment to support people in what is essential for them at every moment of their lives by developing, producing and distributing essential solutions that bring treatments, prevention and wellness all over the world.