The Company is poised for further acquisitions in Central and Eastern Europe and plans to consistently improve its performance. PGF’s long-term objective is to achieve the leading position in Central and Eastern Europe.
In 2007, PGF posted consolidated sales revenue of PLN 4.4bn (compared with PLN 4bn a year earlier) and a net profit of PLN 74.1m (a 19% rise over 2006). “The company had a successful year. We have become the first Polish pharmaceutical company to expand its operations beyond the Polish borders and delivered record-breaking performance despite substantial capital expenditure. As previously declared, we again posted a double-digit rise in net profit,” said Jacek Szwajcowski, President of the PGF Management Board.
In 2007, PGF completed three major investment projects:
- acquisition of Lithuanian companies – for EUR 22.5m
- acquisition of Apexim – for approx. PLN 27m
- construction of a pharmaceuticals warehouse in Poznań – PLN 22m
“The financial ratios confirm that our decisions contribute to improved efficiency and, first and foremost, provide a foundation for long-term development, especially in the context of further acquisitions on international markets. Our goal for the coming year is to generate PLN 5bn in revenues and maintain the double-digit growth rate with respect to net profit,” says Jacek Szwajcowski. “Additionally, we intend to acquire further pharmaceutical distributors in at least two other countries.”
February 2008 marked the 10th anniversary of PGF’s debut on the Warsaw Stock Exchange. Over the decade, the Company recorded an over 1,500% upsurge in sales. Every fifth pharmaceutical product sold domestically is sourced from PGF’s warehouses. Now, the PGF Group yields annual revenues of PLN 4.4bn, with the average annualised net profit growth of approx. 30% (over the last five years) and return on equity of 20.8% (in 2007). Total cash flows from operating activities generated by the Company since 2001, which was the year of completion of the restructuring process at PGF following a period of M&A activity, reached PLN 726m. The figure exceeds the total cash flows from operating activities posted jointly by all the other listed pharmaceutical companies.
Skonsolidowane wyniki finansowe Polskiej Grupy Farmaceutycznej
| |
I-IV kw. 2007 |
I-IV kw. 2006 |
Zmiana |
| Przychody ze sprzedaży (tys. zł) |
4 410 252 |
4 007 621 |
10 % |
| EBITDA (tys. zł) |
113 897 |
108 354 |
5,1 % |
| Rentowność EBITDA (%) |
2,58 % |
2,70 % |
- 0,12 p.p |
| Zysk operacyjny (tys. zł) |
93 259 |
87 016 |
7,2 % |
| Rentowność operacyjna (%) |
2,11 % |
2,17 % |
- 0,06 p.p |
| Zysk netto (tys. zł) |
74 568 |
62 521 |
19,3 % |
| Rentowność netto (%) |
1,69 % |
1,56 % |
+ 0,13 p.p. |
|
