Is Zentiva confirming the improvements made in first nine months last year?

According to the financial calendar posted by Bucharest Stock Exchange, the drug producer Zentiva Romania will submit the 2008 preliminary report on March 23, 2008.

Financial analysts expect a confirmation of the favorable results of first three quarters 2008, although, it is possible the financial crisis to be reflected in the company’s turnover in the last part of the year.

In first nine months of 2008, Zentiva’s net sales hiked only 2% (expressed in lei), while Zentiva N.V’s sales jumped 18% in first nine months, (expressed in Czech korunas), fueled by the constant growth of sales in Turkey (+22% in local currency).

“The favorable evolution of Zentiva’s results in Romania reflects the reconsolidation of activity locally and the benefits of strategy changes initiated in the last year, meant to change focus from market share to working capital optimization, spending management and financial profitability. All these factors led to a consolidation and development of operating infrastructure and business durability “, said Dragos Damian, managing director of Zentiva.

Zentiva’s workforce accounts for 6,000 and holds production facilities in Czech, Slovakia, Romania and Turkey.

Zentiva’s shares are traded at the stock exchanges in Prague and London.