Novo Mesto, 15 May (STA) - Drug maker Krka posted a record group net profit of EUR 152.5 million for the first quarter, up 54% year-on-year, as sales revenue rose by 7% to an all-time quarterly high of EUR 522 million, show unaudited results released on Thursday.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 5% to EUR 146 million and operating profit (EBIT) by 7% to EUR 123 million.
The biggest sales increase was recorded in Krka's key Eastern European market, where it rose by 13% on the back of a 12% increase in revenue in Russia.
Its second biggest market, Central Europe, grew by 6%. Sales in Poland, Krka's second largest individual market in size, saw a 14% year-on-year increase.
The company posted sales growth in all product categories, whereby its largest product group, prescription drugs, rose by 8%.
"The Krka Group continues to operate successfully," CEO Jože Colarič was quoted as saying.
"The high increase in net profit ensued from net financial result impacted by changes in the value of the Russian rouble. We continue to generate robust cash flow from operating activities, which is sufficient for the smooth settlement of our operating liabilities, investments, and implementation of the long-term dividend policy," he said.
