Genomma Lab Internacional Reports First Quarter 2020 Results

|Apr 22|magazine12 min read

MEXICO CITY, April 22, 2020 /PRNewswire/ -- Genomma Lab Internacional, S.A.B. de C.V(BMV: LAB B) ("Genomma Lab" or "the Company"), today announced its results for the first quarter ended March 31, 2020. All figures included herein are stated in nominal Mexican pesos and have been prepared in accordance with International Financial Reporting Standards (IFRS).

The following tables provide an abridged Income Statement, in millions of Mexican pesos. The margin for each figure represents its ratio to net sales and the percentage change in the first quarter 2020 as compared with the same period in 2019:


Q1 2020

 % Sales

Q1 2019

% Sales

Var. %

Net Sales

3,334.5

100%

3,137.9

100.0%

6.3%

Gross Profit

2,061.6

61.8%

2,022.1

64.4%

2.0%

Operating Income

640.6

19.2%

597.1

19.0%

7.3%

EBITDA(1)

678.4

20.3%

624.2

19.9%

8.7%

Net Income

373.6

11.2%

252.3

8.0%

48.1%







1)

EBITDA defined as operating income before depreciation and amortization

 

Highlights

  • Q1-2020 Sales increased by Ps. 196.6 million; +6.3% year-on-year
  • Q1-2020 EBITDA grew 8.7% with a 20.3% margin; +40 bps year-on-year margin expansion
  • Q1-2020 Net Income increased by Ps. 121.3 million; +48.1% year-on-year
  • Net Debt to EBITDA ratio closed at 1.8x at the end of Q1-2020
  • Capex Investments for the three months ended March 31, 2020 reached Ps. 108.5 million. 

Comments from the CEO

Mr. Jorge Brake, Chief Executive Officer, commented: "The unprecedented COVID-19 crisis has presented Genomma Lab with challenges as well as important opportunities to step up our production and distribution of extremely high demand products, particularly in the health and hygiene categories. Our company has a long history of a unique capacity to nimbly adapt when faced with adversity while identifying exciting new and innovative ways to serve our customers' ever-evolving needs and demands." He added: "I've never been more proud of our Genomma team that is working tirelessly to fulfill demand for our products while helping the communities where we operate stay healthy. The strength of our supply chain, with benefit of a revitalized corporate culture, is reflected in our Company's ability to act with speed and agility. Our top priorities as a company are our employees and their families as well as maintaining the profitability of our business, thus seeking the highest return on investment for our shareholders and stakeholders, and contributing to the health and wellbeing of human kind."

For a full version of Genomma Lab Internacional's First Quarter 2020 Earnings Release, please visit: https://inversionistas.genommalab.com/en/financial-information/

CONFERENCE CALL INFORMATION:

Genomma Lab will host a conference call on Thursday, April 23, 2020, to discuss these results at 11:00 a.m. Eastern Time / 10:00 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: Genomma Lab First Quarter 2020 Results Call

Replay will be available until March 5, 2020
Please dial:
+1 877-481-4010 (U.S.)
+1 919-882-2331 (International)
Replay ID: 34339

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.

Contact Information:
Enrique González, Head of IR
Tel: +52 (55) 5081-0075
[email protected]

Barbara Cano, InspIR Group
Tel: +1 (646) 452-2334
[email protected]

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SOURCE Genomma Lab Internacional, S.A.B. de C.V.