Farmacol posts 22% sales growth in 2009

2010-03-02

Farmacol enjoyed a 28.2% y-o-y jump in consolidated sales turnover in the fourth quarter of 2009, to almost PLN 1.43bn (€363m), with group net profit up by 29.9% y-o-y to PLN 32.6m (€8.3m). As a result, in 2009 as a whole group sales climbed 22% to nearly PLN 5.14bn (€1.31bn), and net profit grew 11.4% to PLN 79.5m (€20.m), preliminary unaudited figures show. Excluding Cefarm Bialystok (whose results were integrated as of Q4), sales were up by 20.8%.
In its commentary Farmacol noted that in Q4 its share in sales to pharmacies rose by almost 2 p.p. to nearly 22%, and that sales to hospitals grew dynamically as well.
In 2009 as a whole the company’s gross sales margin fell to 6.9% from 7.62%, due to lower discounts from manufacturers. At the same time, the net profit margin improved to 1.69% from 1.55%.