Results note: First half of 2017

Thursday, 27 July 2017.

Reig Jofre confirms the beginning of regularization of the lack of raw material that affected its main unit in 2016.

  • The delay in the supply of raw material in the sterile penicillin area caused in 2016 a slowdown in the growth of the company's sales, a significant increase in stocks at the end of that year and the consequent increase of the financial debt. Also contributing to an increase in inventories in 2016 was the advance of production linked to the company's injectable area, in anticipation of production interruptions in the first quarter of 2017 due to works to expand the plant. The beginning of the regularization of both situations allowed the company to correct its inventories and recover in the first half of 2017 its traditional levels of net financial debt.
  • Regarding sales, the reversal of the lack of supply is expected to boost the release of product batches in the second half of the year and regularize the revenues of the company's main product unit, while demand continues to increase for the main products of the antibiotics and injectables portfolio.
  • Reig Jofre closed the first half of the year with an increase in revenues of 1.8 M€ (+2.2%), up to 84.11 M€, despite a decline in sales of 6 M€ of the sterile penicillins affected by the supply problems mentioned and the still weak evolution of the nutritional supplements area.

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