A&D Pharma exceeds 500 million euro in turnover

A&D Pharma Holdings, the Dutch holding company that owns the integrated pharmaceutical sales and marketing services, wholesales and retail business in Romania said it recorded consolidated unaudited net sales of 502 million euro for the twelve months ended in December 31, 2008, an 18% y/y increase from last year.

The company expects to report an increase of around 18% in consolidated unaudited sales compared to a year earlier for the twelve months ended in December 31 2008, up to 502 million euro, of which 248 million occurred in the second half of the year. A&D Pharma’s audited consolidated net sales for the full year 2007 amounted to 425.5 million euros.

Mediplus, part of A&D Pharma recorded a y/y sales growth of 17% to 425 million for the twelve-month period ended in December 31 2008, compared to 363.6 million during 2007. This includes the unaudited sales of 99 million euro from the Sales and Marketing business segment (2007: 91.7 million euro) and unaudited sales of 326 million euro from the wholesale business segment (2007: 271.9 million euro).

Mediplus’s average annual share of the total pharmaceutical wholesale market increased and strengthened further from 17.9% in 2007 to 18.8% in 2008, reflecting higher sales of oncology treatments in particular as well as the opening up of the hospital market. Mediplus significantly outperformed the general hospital market to increase its share of the hospital market from 3.9% in 2007 to 10.4% in 2008.

A&D Pharma’s retail division, Sensiblu recorded y/y sales growth of 27% to 155 million euro for the full year 2008, compared to 121.6 million euro for the full year 2007. Sensiblu, which operates a chain of 221 pharmacies across Romania consolidated its market position during the period and continued the restructuring of its outlet network by adding 12 new outlets, closing 13 outlets and relocating 5 outlets across Romania.

As anticipated in October 2008, the steep depreciation of the leu against the euro continued throughout the last quarter of 2008 and the beginning of 2009. It is therefore expected to impact negatively on the group’s financial result both in 2008 and 2009.

“The depreciation of the Romanian currency against the Euro continues to be unfavorable and will impair our financial result. But the challenging economic climate is not distracting us from our focus to grow A&D Pharma’s bottom line by reducing operating costs and optimizing the efficiency of our operations”, said Robert Popescu, interim CEO of A&D Pharma.

The unconsolidated divisional sales figures include inter-company sales of 78
million euro, from 60 million euro in 2007, according to the representatives of the company.

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