Results note: Third quarter of 2017

Reig Jofre keeps sales stable, reduces net debt and continues to invest in manufacturing capacity to attend expected increase of demand

  • Reig Jofre closed the first nine month of the year with turnover of 119,6 M€ (+0.2%)
  • The good performance of the lines of injectables (+ 21%), dermatology (+ 10%) and respiratory (+ 14%) counteracted the still slow recovery of the lines of antibiotics (-9%) and nutritional supplements (-9%)
  • Reig Jofre closed the third quarter of 2017 with EBITDA of 9.2 M € compared to 11.5 M € in the same period of the previous year, directly motivated by the increase in personnel costs due to investments in manufacturing capacity in three of its four plants, as a result of the growth in demand in the dermatology and injectable lines; the investment in expansion projects in new markets in the line of antibiotics, and the non-reduction of the workforce linked to this line despite the fall in sales and in anticipation to the beginning of the recovery
  • Despite the above, a better financial result and a lower tax item slightly corrected the impact on the net result, which stood at 3.2 M € versus 5.0 M € in the same period of 2016
  • At the end of September, net financial debt was reduced by 37% to € 13.8 million, below 1 time EBITDA, compared to 1.9 times at the end of 2016

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