Genomma Lab Internacional Reports 1Q10 Earnings
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MEXICO CITY--(Business Wire)--
Genomma Lab Internacional, S.A.B. de C.V. (BMV: LAB) ("Genomma Lab" or "the
Company"), announced today its results for the quarter ended March 31, 2010. All
figures included herein were prepared in accordance with Mexican GAAP; figures
are stated in nominal Mexican pesos. Also, the following consolidated figures
show the Company`s Spanish operations reclassified as discontinued operations
according to Mexican GAAP.
1Q 2010 Highlights (vs. 1Q 2009)
* Net Sales for the quarter reached Ps. 1,112.4 million, an increase of 71.4%
* EBITDA increased 73.8%, to Ps. 161.1 million. This represents a 14.5% margin
during the period.
* Earnings per Share1 increased 45.8%, to Ps. 1.49.
* International Net Sales rose 186.6%, to Ps. 314.3 million.
* During the first quarter, Genomma Lab successfully launched 18 products under
7 existing brands (Base Brands2 and Prior Year Launches3) as part of our line
extension strategy.
* The Company also launched 4 products under 2 New Brands4, as part of its new
product launch plan during the first quarter.
* During the first quarter of 2010, the Company launched operations in Brazil
and in the United States.
_________________________
1 Earnings per share are for the last 12 months and were calculated using the weighted average of shares outstanding for the period.
2 As defined below.
3 As defined below.
4 As defined below.
Comments from the Chairman and CEO
Mr. Rodrigo Herrera, Chairman and Chief Executive Officer, stated: "We are
pleased to report our first quarter 2010 results, which show an outstanding top
line and EBITDA growth. As in previous periods, we have seen that the demand for
our products continues to increase and that our brands are strongly positioned
in our consumers` mind. This has allowed us to become one of the fastest growing
companies in the industries in which we participate.
"We are excited about the performance of our international operations, in which
we highlight the Company´s incursion into the Brazilian and U.S. markets. These
markets represent a great opportunity for expansion in our international
operations and overall Company growth. Replicating the success we have had in
other countries, we are confident that these initiatives will also be
successful; however, we are being very cautious in the approach we have taken to
enter these markets.
"We are a Company that focuses on the wellness of our consumers, so we will
continue to develop and launch innovative products under premium brands,
supported by an aggressive advertising strategy to drive growth in revenues,
earnings and cash generation."
Company Description
Genomma Lab Internacional, S.A.B. de C.V. is one of the fastest growing
pharmaceutical and personal care products companies in Mexico with an increasing
international presence. Genomma Lab develops, sells and markets a broad range of
premium branded products, many of which are leaders in the categories in which
they compete in terms of sales and market share. Genomma Lab relies on the
combination of a successful new products development process, a
consumer-oriented marketing, a broad retail distribution network and a low-cost,
highly flexible operating model.
Genomma Lab`s shares are listed on the Mexican Stock Exchange under the ticker
symbol "LAB.B" (Bloomberg: labb.mx).
Note on Forward-Looking Statements
This report may contain certain forward-looking statements and information relating to the Company that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like "believe," "anticipate," "expect," "envisages," "will likely result," or any
other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation and in oral statements made by authorized officers of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations:
Genomma Lab Internacional
Oscar Villalobos, +52 (55) 5081 0000 Ext. 4250
inversion@genommalab.com
or
In New York:
i-advize Corporate Communications, Inc.
Maria Barona, 212-406-3692
genomma@i-advize.com
Copyright Business Wire 2010
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