September 1 (SeeNews) - Zentiva Group Romania said on Thursday its turnover rose 8% year-on-year in the first half of 2022 - a period in which it invested 2.2 million euro ($2.2 million) to upgrade and expand its production facilities.
The group achieved a consolidated turnover of 553.8 million lei ($114.5 million/ 114.1 million euro) in the first half of 2022, mostly due to higher sales for non-prescription, cold and flu, digestive system and nervous system pharma products, Zentiva Group Romania said in a press release.
The group's exports rose by 13% year-on-year in the first six months of 2022. Zentiva exports pharma products from Romania to countries such as Germany, Great Britain, France, Italy, Switzerland, the Czech Republic and more recently Spain.
Given the increase in production costs and the restrictive regulatory environment, the group relies on the sustained advance of exports to maintain the solidity and development prospects of its companies, as well as the resources needed for the annual investment plans. Since last year, prices of raw materials and excipients have increased by 20%-60%, of packaging by 15%-20%, transportation by 250%-300%, and energy and gas prices by 100%-150%, the group said.
In Romania, the Zentiva group brings together Zentiva SA [BSE:SCD], Labormed-Pharma, Labormed Pharma Trading (formerly Alvogen Romania), Be Well Pharma S.R.L. and Solacium Pharma, the latter being a distributor of dietary supplements, medical devices and OTC products.
Zentiva Group Romania employs 1,250, of whom approximately 800 in production operations at the group's two factories in Bucharest.
The Romanian entity is part of Zentiva Group, which employs more than 4,700 people across Europe and has four manufacturing sites - in Prague, Bucharest and Ankleshwar, as well as two R&D centres in Prague and Ankleshwar.
Zentiva SA's shares traded 0.96% lower at 2.06 lei on the Bucharest Stock Exchange by 1308 CET on Thursday.
(1 euro=4.8525 lei)