Siegfried Reports Distinct Sales Increase For First 3 Quarters Of 2010
In the third quarter, sales of active pharmaceutical ingredients and intermediates contin- ued to develop favorably, exceeding even the previous year’s strong quarterly result. The pleasing sales increase in the current year is attributed mainly to rising sales in the USA. Sales of finished formulated drugs, which today are still delivered largely to generics com- panies, remained at the previous year’s level despite a heavily contested price war – es- pecially also in the German market – and negative currency influences.
Outlook
Siegfried’s Board of Directors and Executive Committee expect sales growth for the entire 2010 financial year to remain in the high single-digit percentage range. Following divest- ment of the inhalation business, the operating result (EBITDA) will be disburdened of con- nected expenses. Siegfried therefore anticipates the EBITDA margin to again rise above 10%
The Siegfried Group (SIX: SFZN) reports sales of CHF 218.5 million for the first 9 months of the 2010 financial year, representing an increase of 8.8% in Swiss francs and of 12.1% in local currencies over the comparable period the previous year. Sieg- fried sold active pharmaceutical ingredients and intermediates amounting to CHF 172.4 million, CHF 17.5 million or 11.3% over the previous year’s result. Sales of ready formulated drugs amounted to CHF 46.1 million, or a growth of 0.4% over the first three quarters of 2009.
In the third quarter, sales of active pharmaceutical ingredients and intermediates contin- ued to develop favorably, exceeding even the previous year’s strong quarterly result. The pleasing sales increase in the current year is attributed mainly to rising sales in the USA. Sales of finished formulated drugs, which today are still delivered largely to generics com- panies, remained at the previous year’s level despite a heavily contested price war – es- pecially also in the German market – and negative currency influences.
Outlook
Siegfried’s Board of Directors and Executive Committee expect sales growth for the entire 2010 financial year to remain in the high single-digit percentage range. Following divest- ment of the inhalation business, the operating result (EBITDA) will be disburdened of con- nected expenses. Siegfried therefore anticipates the EBITDA margin to again rise above 10%..
For further information:
Michael Hüsler, Chief Financial Officer Tel. +41 (0)62 746 11 35, Fax +41 (0)62 746 11 03 E-Mail: michael.hüsler@siegfried.ch
Siegfried Holding AG Untere Brühlstrasse 4 CH - 4800 Zofingen Phone + 41 62 746 11 11 Fax + 41 62 746 11 04
www.siegfried.ch
About Siegfried
Active in Life Science markets, the Siegfried Group is a global manufacturer of pharmaceutical prod- ucts with production facilities located in Switzerland, Malta and the USA. At the end of 2009, Siegfried employed approximately 820 employees and achieved annual sales of roughly CHF 283 million.
Siegfried is active in both the primary and secondary production of drugs. The company develops and manufactures active pharmaceutical ingredients for the research-based pharmaceutical industry as well as the corresponding intermediate steps and standard products, and provides development and production services for drugs in finished dosage forms.
Siegfried Holding AG is listed on the Swiss Exchange in Zurich (SIX: SFZN).