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Krka's net profit up 37% to EUR 140m in H1, revenue up by 12%

Ljubljana/Novo Mesto, 04 July (STA) - The drug maker Krka generated EUR 761.8 million in sales revenue in the first half of the year, which is 12% more than in the same period last year. Net profit rose by 37% to EUR 139.9m, the Novo Mesto-based company said on Thursday.

Estimated operating profit grew by 14% to EUR 154.9 million and estimated gross operating profit rose by 10% to EUR 210.3 million, the company said.

Sales went up in all groups of products and services. In the domestic market, sales increased by 4% to EUR 45 million.

Almost 6% of all sales was generated on the Slovenian market, while the remaining 94% was generated abroad, totalling EUR 714.7 million.

Sales went up in all regions, rising by 15% to EUR 251.5 million in East Europe, where Krka sells 33% of its products.

The sales in the Russian Federation, Krka's biggest single market, went up by 9% to EUR 166.8 million.

In Western Europe, where 22.5% of the sales revenue is generated, sales went up by 17% to EUR 170.6 million.

The biggest growth was recorded in the Scandinavian countries, Spain, UK and Portugal. In Germany, the biggest market in the region, sales rose by 5% to EUR 40.6 million.

Krka sold 5% more products in Central Europe, where it generated EUR 169.6 million in revenue. In Poland, the biggest market in the region, sales went up by 6% to EUR 79.5 million.

In Southeast Europe, sales reached EUR 98.5 million, which is an 11% increase. The biggest growth was recorded in Bulgaria, Serbia and Romania.

The group allocated EUR 49 million for investment in the first six months, of which EUR 39 million was invested by the core company.

Krka registered six new products in 12 pharmaceutical forms in the first six months of the year.

The group's sales are expected to reach EUR 1.375 billion this year, while net profit should top EUR 172 million. The group plans to invest more than EUR 124 million in production expansion and infrastructure, while 10% of sales revenue will go for R&D.

The results were presented today by CEO Jože Colarič, while supervisors will get acquainted with the final unaudited results on 31 July.

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