MEXICO CITY, July 26, 2023 /PRNewswire/ — Genomma Lab Internacional, S.A.B. de C.V. (BMV: LAB B) (“Genomma Lab” or “the Company”), today announced its results for the second quarter ended June 30, 2023. All figures included herein are stated in nominal Mexican pesos and have been prepared in accordance with International Financial Reporting Standards (IFRS).
The following tables provide an abridged Income Statement. The margin for each figure represents its ratio to net sales and the percentage change in the second quarter 2023 as compared with the same period in 2022. As stated in Genomma’s First Quarter 2023 results press release, the Company presents “like-for-like” top-line growth (excluding Argentina) to illustrate Genomma’s performance in constant currencies:
| Q2 2023 | % Sales | Q2 2022 | % Sales | Like-for-like | Var. % | |
| Net Sales | 4,370.5 | 100 % | 4,323.6 | 100 % | +17.4%(2) | +1.1 % |
| Gross Profit | 2,664.8 | 61.0 % | 2,613.0 | 60.4 % | +2.0 % | |
| Operating Income | 871.1 | 19.9 % | 839.8 | 19.4 % | +3.7 % | |
| EBITDA(1) | 920.1 | 21.1 % | 892.0 | 20.6 % | +3.2 % | |
| Net Income | 417.4 | 9.6 % | 404.7 | 9.4 % | +3.1 % |
| 1) | EBITDA defined as operating income before depreciation and amortization. |
| 2) | Like For Like currency (excluding Argentina) |
Highlights
- Q2-2023 Sales increased by Ps. 46.9 million; +1.1% year-on-year
- Q2-2023 EBITDA closed at Ps. 920.1 million; a +3.2% increase year-on-year
- Cash & Equivalents closed at Ps. 1.37 billion as of June 30, 2023
- Q2-2023 Net Debt to EBITDA ratio closed at 1.40x; The Company successfully refinanced its Long-term Debt (Local Bonds of 3 & 4-year maturities)
- Capex Investments for the six months ended June 30, 2023, reached Ps. 80.7 million.
For a full version of Genomma Lab’s Second Quarter 2023 Earnings Release, please visit: https://inversionistas.genommalab.com/en/financial-information
CONFERENCE CALL INFORMATION:
Genomma Lab will host a conference call on Thursday, July 27, 2023, to discuss these results at 1:00 p.m. Eastern Time / 11:00 a.m. Mexico City Time.
To access the call, please register here
After registration, please use the Zoom link provided to ensure optimal access to the event webcast and to avoid difficulties associated with local carrier connections.
About
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 “LAB B” (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. Risks and uncertainties include, but are not limited to: risks related to the impact of the COVID19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays, supply chain disruptions and other impacts to the business, or on the Company’s ability to execute business continuity plans as a result of the COVID-19 pandemic, economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products attained by competitors; challenges inherent in new product development; the ability of the Company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws; changes in behavior and spending patterns of purchasers of products and services; financial instability of international economies and legal systems and sovereign risk. A further list and descriptions of these risks, uncertainties and other factors can be found within the Company’s related filings with the Bolsa Mexicana de Valores. Any forward-looking statement made in this release speaks only as of the date of this release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
View original content:https://www.prnewswire.com/news-releases/genomma-lab-internacional-reports-second-quarter-2023-results-301886852.html
SOURCE Genomma Lab Internacional, S.A.B. de C.V.
