Genomma Lab Internacional Reports Third Quarter 2019 Results
MEXICO CITY, Oct. 23, 2019 -- Genomma Lab Internacional, S.A.B. de C.V. (BMV: LAB B) ("Genomma Lab" or "the Company"), today announced its results for the second quarter ended June 30, 2019. All figures included herein are stated in nominal Mexican pesos and have been prepared in accordance with International Financial Reporting Standards (IFRS).
The following table provides an abridged Income Statement, in millions of Mexican pesos. The margin for each figure represents its ratio to net sales and the percentage change from the second quarter 2019, as compared with the same period in 2018:
|
|
Q3-2019 |
% Sales |
Q3-2018 |
% Sales |
Var. % |
|
Net Sales |
3,077.3 |
100.0% |
2,734.8 |
100.0% |
12.5% |
|
Gross Profit |
1,962.1 |
63.8% |
1,819.9 |
66.5% |
7.8% |
|
Operating Income |
581.4 |
18.9% |
524.1 |
19.2% |
10.9% |
|
EBITDA(1) |
617.1 |
20.1% |
539.9 |
19.7% |
14.3% |
|
Net Income(2) |
233.4 |
7.6% |
223.7 |
8.2% |
4.3% |
(1) EBITDA defined as operating income before depreciation and amortization.
(2) Net Income of Majority Shareholders
Highlights
- Q3-2019 Sales increased by Ps. 342.5 million; a +12.5% year-on-year increase
- Q3-2019 EBITDA margin reached 20.1%; a 40 bps year-on-year expansion
- Exclusive license to Market Novamil® & Novalac® in Mexico
- Capex Investments for the nine months ended September 30, 2019 reached Ps. 379.9 million
Comments from the CEO
Mr. Jorge Brake, Chief Executive Officer, commented: "The performance during the third quarter is further affirmation that our transformational Growth and Innovation Strategy is gaining meaningful traction, reflected in strength across key metrics- notably year on year net sales increases of 12.5% for the quarter and of 9.5%, year to date, as well as operating profitability improvement with EBITDA margin expansion of 40 bps to 20.1% year on year. Our success in this regard demonstrates that we have triggered Genomma's innovation power; transforming and upgrading key heritage brands within our current portfolio and categories, as well as broadening our reach while announcing the addition of exciting new adjacent categories- yet another milestone for our Company with considerable future growth potential."
Mr. Brake continued: "We remain focused on ensuring the successful implementation of this strategy, which is driving strengthening top line growth in Mexico and on the ground in Latin America, while continuing to execute on a turnaround in Genomma´s US market. We are encouraged by our success thus far."
For a full version of Genomma Lab Internacional's Third Quarter 2019 Earnings Release, please visit: https://inversionistas.genommalab.com/en
CONFERENCE CALL INFORMATION:
Genomma Lab will host a conference call on Thursday, October 24, 2019, to discuss these results at 12:00 p.m. Eastern Time / 11:00 a.m. Central Time (Mexico City Time).
To access the call, please dial:
+1 877-407-8031 (From within the U.S.)
+1 201-689-8031 (From outside the U.S.)
There will also be a live Audio Webcast of the event at: Genomma Lab Q3 '19 Results Call
Replay will be available until October 31, 2019
Please dial:
+1 877-481-4010 (U.S.)
+1 919-882-2331 (International)
Replay ID: 54123
About
Genomma Lab Internacional, S.A.B. de C.V. is one of the leading 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 product 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 "LAB B" (Bloomberg: LABB:MM).
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.
SOURCE Genomma Lab Internacional, S.A.B. de C.V.
