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Genomma Lab Internacional Reports Second Quarter 2019 Results

MEXICO CITY, July 24, 2019 /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, 2019. All figures included herein are stated in nominal Mexican pesos and have been prepared in accordance with International Financial Reporting Standards (IFRS).

The following table provides an abridged Income Statement, in millions of Mexican pesos. The margin for each figure represents its ratio to net sales and the percentage change from the second quarter 2019, as compared with the same period in 2018:


Q2-2019

 % Sales

Q2-2018

% Sales

Var. %

Net Sales

3,277.5

100.0%

2,924.7

100.0%

+12.1%

Gross Profit

2,087.9

63.7%

1,908.6

65.3%

+9.4%

Operating Income

633.3

19.3%

574.4

19.6%

+10.2%

EBITDA(1)

667.5

20.4%

591.0

20.2%

+13.0%

Net Income

243.2

7.4%

304.3

10.4%

(20.1)%


(1) EBITDA is define as operating income before depreciation and amortization.

Highlights

  • Q2-2019 Sales increased by Ps. 352.8 million; a +12.1% year-on-year increase.
  • Q2-2019 EBITDA margin reached 20.4%; a 20 bps year-on-year expansion.
  • COFEPRIS granted the Sanitary License for Genomma's New OTC Manufacturing Plant.
  • Capex Investments for the six months ended June 30, 2019 reached Ps. 187.2 million.

Comments from the CEO 

Mr. Jorge Brake, Chief Executive Officer, commented: "Genomma's continued strong operating performance this quarter was again supported by our successful implementation of the key initiatives associated with Genomma's new strategic priorities. The Company strong execution at our Mexico operations- and in many of the LatAm markets in which we have a presence- is further affirmation of our Company's new growth path, supported by the four key strategic pillars of our strategy: Product Innovation and Portfolio Optimization, Best-in-Class Go-to-Market, Superior Supply Chain Capabilities and a Strengthened Corporate Culture. I'm confident that our continued discipline executing on these strategic pillars will continue driving Genomma Lab growth on a consistent basis."

Mr. Brake continued: "Further, the Sanitary License we were granted in early July for Genomma's OTC manufacturing plant is a significant milestone for our Company, and one that we are delighted to have reached after a phase of considerable progress. This certification will enable us to continue with the regulatory process and obtain initial GMPs for solid and semi-solids production for the Mexican market."

For a full version of Genomma Lab Internacional's Second Quarter 2019 Earnings Release, please visit: https://inversionistas.genommalab.com/en

CONFERENCE CALL INFORMATION:

Genomma Lab will host a conference call on Thursday, July 25, 2019, to discuss these results at 12:00 p.m. Eastern Time / 11:00 a.m. Central Time (Mexico City Time).

To access the call, please dial:
+1 877-407-8031 (From within the U.S.)
+1 201-689-8031 (From outside the U.S.)

There will also be a live Audio Webcast of the event at:
https://www.investornetwork.com/event/presentation/49976

Replay will be available until August 1, 2019
Please dial:
+1 877-481-4010 (U.S.)
+1 919-882-2331 (International)
Replay ID: 49976

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. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Cision

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