Reig Jofre closes the first quarter of 2019 with a sales growth of 6% and net profit of 8%

Thursday, 09 May 2019.

  • The sales growth allowed the turnover to reach € 49.3M (+6%) driven by the evolution of the areas of Consumer Healthcare (+ 28%) and Specialty Products (+ 6%), the latter, thanks mainly to national market sales.
  • The Consumer Healthcare area, mainly comprised by the French subsidiary of nutritional supplements Forté Pharma, achieved good results thanks to the new launches in the energy and weight control ranges, which strengthens the market position already achieved in 2018 in France, Belgium and The Netherlands, especially. Spain followed the positive trend of the rest of Europe.
  • Due to the entry into force of the new International Financial Reporting Standard (IFRS 16), lease expenses are now considered as amortization. As a result, depreciation of fixed assets grew by 33%.
  • Considering this new criterion, the EBITDA reached € 5.6M, an increase by 19% compared to the first quarter of 2018. Without considering this impact, the adjusted EBITDA would have been € 5.0M, (+ 6%).
  • Investments in the first quarter of 2019 reached € 5.7M. The progress of the new injectable plant in Barcelona that accounted for more than 60% of the investment, progresses as planned and its start is scheduled for the third quarter of 2020.
  • Liquidity is maintained compared to the year-end 2018. Net debt increased to € 30.2M from € 24.5M at the close of last year, by the execution of the investment plan and the increase in working capital due to the income growth.
  • The Shareholders' Meeting held on April 25 approved the distribution of a dividend under the format of Scrip Dividend, via a capital increase, for a maximum amount of € 3M. It is expected to finalize this benefit distribution in early June.

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