November 11 (SeeNews) - Romanian pharmaceutical group Farmaceutica Remedia [BSE:RMAH] announced on Friday that its net profit fell by an annual 16.61%, to 4.82 million lei ($1.01 million/985,645 euro) in the first nine months of 2022.
Remedia’s total operating income grew by 11.8% on the year, to 390.72 million lei in January-September, the company said in an unaudited financial report filed with the Bucharest Stock Exchange.
Net income from the sale of goods amounted to 384.26 million lei in the first nine months of the year, growing by an annual 11.2%, while other operating revenues totalled 6.44 million lei, up by 44.5% on the year.
Operational expenses grew by 12.3% year-on-year in January-September, reaching 384.8 million lei, contributing to a 20.8% annual decrease in Remedia’s operating result.
Total debts rose by an annual 12% to 204.74 million lei at the end of September.
The company’s total assets reached 271.14 million lei at the end of September, compared to 206.23 million lei at end-2021.
In 2021, Remedia booked a 7.23 million lei net profit, down by an annual 80.9%, while registering 472.83 million lei in net sales, a 7.8% increase on the year.
Pursuant to regulations mandating the separation of retail from wholesale activities, the group is comprised of Farmaceutica Remedia and Farmaceutica Remedia Distribution & Logistics.
The company was listed on the Bucharest Stock Exchange in 1996 and currently has a market capitalisation of 61.3 million lei, according to bourse data. Valentin Norbert Taurus holds 84.3% of the company’s shares while other shareholders own the remaining 15.7%.
Farmaceutica Remedia shares traded 0.31% lower at 0.64 lei as of 1351 CET on Friday.
(1 euro=4.8902 lei)