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Reig Jofre closes the third quarter of 2019 with an accumulated growth of 10% in sales and 17% in EBITDA

Thursday, 14 November 2019.

  • Turnover was € 147.1 M (+ 10%) at the end of the third quarter. All business units recorded positive growth during the year, with special emphasis on the area of Specialty Products (+ 31%) and the positive performance of the domestic market, which registered a growth of 20% compared to the same period of the previous year and, with regard to the international markets, the positive evolution of Africa, Asia and Oceania
  • The new division of Joint Health and Pain acquired on July 1 recorded its first quarter of sales following its integration into Reig Jofre, which had a positive impact on the area of specialty products (+ 31%) and the greater growth of domestic sales
  • The Consumer Healthcare area registered an accumulated growth in sales of 11%, driven especially by the growth of Forté Pharma. The Pharmaceutical Technologies area reversed the trend of the first half and registered a positive growth in the year of + 2%
  • Sales in the third quarter reached 54.3 million euros, a 26% increase over the third quarter of the previous year
  • Adjusted EBITDA for the quarter was 4.9 million euros. This represents a 49% growth compared to the third quarter of 2018. The adjustment includes the reversal of the application of IFRS 16 and the exclusion of non-recurring transaction costs associated with the purchase of the Joint Health and Pain division.
  • In cumulative terms, the EBITDA adjusted with the same criteria reaches 12.9 million euros at the end of September, representing a 17% growth compared to the first nine months of 2018 2
  • Investments in the first nine months of 2019 reached 17.8 million euros, of which 10.4 million corresponded to the new injectables plant in Barcelona, which is scheduled to start production in the final quarter of 2020. This global figure includes 3.9 million euros of investment in R&D projects
  • Financial Debt as of September 30 reached 53.1 million euros, including 8.1 million corresponding to the application of IFRS 16. Net Debt stood at 46.4 million at the end of the third quarter, evolving in accordance with the investment plan
  • The Net Debt / EBITDA ratio stood at 2.80 in September 2019, up from 1.5 at the end of 2018

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