Genomma Lab Delivers Outstanding Top Line Growth of 57.9% and EBITDA(1) Growth
of 43.6% in 3Q 2009
MEXICO CITY, Oct. 26 /PRNewswire/ -- Genomma Lab Internacional, S.A.B. de C.V.
(BMV: LAB) ("Genomma Lab" or "the Company"), announced today its results for
the quarter ended September 30, 2009. 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.
3Q09 Highlights (vs. 3Q08)
-- During the third quarter of 2009, the Company launched Primer Nivel
Por
Tu Salud generic pharmaceuticals brand; the launch included 167
medical
prescription ("RX") and over the counter pharmaceuticals ("OTC")
products.
-- Also, during the third quarter, Genomma Lab signed a strategic
alliance
agreement with Grupo Televisa S.A.B. de C.V. (NYSE: TV) to market and
distribute OTC and personal care products in the U.S. and Puerto Rico.
-- Net Sales for the quarter reached Ps. 1,123.7 million, an increase of
57.9%
-- EBITDA(1) increased 43.6%, to Ps. 296.8 million. This represents a
26.4%
margin during the period.
-- Earnings per Share(2) increased 37.5%, to Ps. 1.09.
-- International Net Sales rose 295.9%, to Ps. 187.8 million.
-- During the third quarter, Genomma Lab successfully launched four
products under three existing brands (Base Brands(3) and Prior Year
Launches(4)) as part of our line extension strategy.
-- The Company also launched six products under four New Brands(5), as
part
of its new product launch plan during the third quarter.
(1) EBITDA is calculated by adding pre-operative expenses, depreciation and
amortization to the operating income.
(2) Earnings per share are for the last 12 months and were calculated using
the weighted average of shares outstanding for the period.
(3) As defined below.
(4) As defined below.
(5) As defined below.
Comments from the Chairman and CEO
Mr. Rodrigo Herrera, Chairman and Chief Executive Officer, stated: "We are
pleased to report Genomma Lab's third quarter 2009 results, which demonstrate
outstanding growth and profitability. We are delighted to see that consumer
demand for our products remained strong during the third quarter. We will
remain cautious until we are sure that the economic situation, and its effect
on products demand, has ended.
"We are particularly excited about the launch of Primer Nivel Por Tu Salud,
our generic pharmaceuticals brand, since we believe that the market
penetration of the generic pharmaceuticals industry in Mexico remains low and
we plan to capitalize on the accelerated growth rates estimated for this
industry in the coming years. Also, we believe that we have consolidated our
business model and feel ready to enter the U.S. and Puerto Rican markets
through our strategic alliance with Televisa.
"We will continue to develop and launch innovative products under premium
brands, supported by our continuous advertising strategy to drive growth in
revenues, earnings and cash generation."
For the complete version of this earnings report, please visit:
www.genommalab.com
Company Description
Genomma Lab Internacional, S.A.B. de C.V. is one of the fastest growing
over-the-counter pharmaceutical and personal care products companies in
Mexico. 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. Through a combination of a
successful new products development process, 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).
SOURCE Genomma Lab Internacional, S.A.B. de C.V.
Investor Relations: Oscar Villalobos, Tel: +52 (55) 5081 0000 Ext. 4250,
inversion@genommalab.com; in New York: i-advize Corporate Communications,
Inc., +1-212-406-3692, genomma@i-advize.com
