Reig Jofre submits results note on the first quarter of 2021
REIG JOFRE sales held steady in the first quarter of 2021 with 11% growth in its consolidated net profit.
In a quarter still heavily impacted by COVID-19, Reig Jofre managed to keep its sales on par with the first quarter of 2020 adjusted for this effect. The drop in prescriptions and decline in bacterial seasonal winter infections were one of the key factors affecting these results.
As at the end of the first quarter, sales exceeded €62 million, a slight increase on the same period of the previous year. Some product ranges achieved growth despite of the environment, and this offset the impact on sales from social distancing measures. Careful cost management boosted EBITDA by 9% to €8.8 million.
Both the Pharmaceutical Technologies division, which mostly manufactures and sells products for hospital use, and the Specialty Pharmacare division, which produces prescription medical products, posted year-on-year growth, a remarkable result in a pharmaceutical market that is contracting in many European countries.