Genomma Lab Internacional, S.A.B. de C.V. (BMV: LABB) announced its results for the first quarter ended March 31, 2019.
MEXICO CITY, April 29, 2019 /PRNewswire/ -- Genomma Lab Internacional, S.A.B. de C.V. (BMV: LABB) ("Genomma Lab" or "the Company"), today announced its results for the first quarter ended March 31, 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 pesos. The margin for each figure represents its ratio to net sales and the percentage change from the first quarter 2019, as compared with the same period in 2018:
|
Q1-2018(1) |
% Sales |
Q1-2019 |
% Sales |
Var. % |
|
|
Net Sales |
3,010.8 |
100.0% |
3,137.9 |
100.0% |
+4.2% |
|
Gross Profit |
2,028.9 |
67.4% |
2,022.1 |
64.4% |
(0.3)% |
|
Operating Income |
650.5 |
21.6% |
597.1 |
19.0% |
(8.2)% |
|
EBITDA(2) |
666.7 |
22.1% |
624.2 |
19.9% |
(6.4)% |
|
Net Income |
375.7 |
12.5% |
252.3 |
8.0% |
(32.9)% |
|
(1) 2018 Restated Results by the application of IAS-29 & IAS-21 under IFRS standards as if adopted on January 1st. 2018. |
|||||
|
(2) EBITDA is defined as operating income before depreciation and amortization. |
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Highlights
- Consolidated Net Sales closed at Ps. 3.14 billion, a 4.2% growth year-on-year
- Mexico Net Sales increased 18.0% year on year
- LatAm EBITDA margin for Q1-2019 closed at 27.3%; a 230bps year-on-year expansion
- Capex Investments for the three months ended March 31, 2019 reached Ps. 106.4 million.
Comments from the CEO
Mr. Jorge Brake, Chief Executive Officer, commented: "We began 2019 with strong progress executing on the four key pillars of our Growth and Industrial Integration Strategy to increase shareholder value, as reflected in our top-line for the first quarter despite the continued effects of Argentina's macro headwinds on our consolidated figures. Tight cost controls and streamlined operations also successfully mitigated these effects, and we remain focused on executing important expense and cost containment strategies in tandem with our Growth Strategy to drive results throughout the different regions in which we operate."
Mr. Brake continued: "Further, among other important initiatives, we made continued progress on our Mexico manufacturing facility during the first quarter, and kicked-off our Center of Innovation program, which will establish a solid pipeline for Genomma's sustained profitable growth."
For a full version of Genomma Lab Internacional's First Quarter 2019 Earnings Release, please visit: https://inversionistas.genommalab.com/en
CONFERENCE CALL INFORMATION:
Genomma Lab will host a conference call on Tuesday, April 30, 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:
https://www.investornetwork.com/event/presentation/46129
Replay will be available until May 7, 2019
Please dial:
+1 877-481-4010 (U.S.)
+1 919-882-2331 (International)
Replay ID: 46129
About Genomma Lab
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 "LABB" (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.
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SOURCE Genomma Lab Internacional, S.A.B de C.V.
Company Codes: Mexico:LAB.B
