Results of PGF Group after the fourth quarter 2009
In Q4 2009, Polska Grupa Farmaceutyczna’s sales revenue totalled PLN 1.4bn. The aggregate revenue for the entire 2009 was PLN 5.4bn.
The steps taken by Polska Grupa Farmaceutyczna in the final quarter of 2009 were partly a continuation of the activities commenced in the preceding months; to some extent, they were also a part of the implementation of innovative strategies and new projects.
-In my opinion, the first group of activities includes our direct sales efforts and the image campaign for I Care for My Health Pharmacies. At the same time, we embarked upon completely new projects because our prime objective is to develop and constantly enhance our offering addressed to diverse customer groups. The key project in this category is the Senior Citizen initiative, which targets persons aged over 75. The initiative is designed to co-finance the purchase of pharmaceuticals,says Jacek Szwajcowski, President of PGF S.A.
January 2010 saw the establishment of Business Support Solution. The new undertaking provides finance and accounting, HR and payroll, as well as legal services to Polish and foreign entities of the PGF Group; additionally, Business Support Solution will presently offer these services to third parties.
The last quarter of 2009 was important to PGF also due to other reasons: the 2000th outlet was added to the chain of I Care for My Health Pharmacies.
Not only is it a source of great pride to us, but it is also the strongest evidence that our concept of the retail pharmacy chain relying on partner, franchise and company-owned pharmacies meets the high expectations and requirements of the pharmacists, who are our partners in the healthcare system. We want the I Care for My Health brand to give pharmacists the sense of prestige, whereas the patients should always associate it with the highest standard of pharmaceutical care, says Jacek Szwajcowski, President of PGF S.A.
The PGF Group’s financial performance showed improvement in the course of 2009. EBITDA rose by a third, while net profit surged by nearly 47%. Furthermore, PGF also managed to significantly reduce its debt.
| Q42009 | Q42008 | Growth | Q1-Q42009 | Q1-Q42008 | Growth | |
|---|---|---|---|---|---|---|
| Sales revenue (PLN '000) | 1 376.4 | 1 219.0 | 12.9% | 5 390.7 | 5 095.0 | 5.8% |
| EBITDA (PLN '000) | 54.3 | 38.5 | 41.0% | 145.4 | 108.8 | 33.6% |
| Net profit (attributale to owners of the parent)(PLNm) | 27.0 | 23.8 | 13.4% | 65.5 | 44.6 | 46.9% |
| EBITDA margin | 3.95% | 3.15% | +0.80p.p. | 2.70% | 2.14 | +0.56p.p. |
| Net margin | 1.96% | 1.95 | +0.01p.p. | 1.21% | 0.88% | +0.33p.p. |
