Protek : announces FY-2014 financial results

21.04.2015

Protek Group announces FY-2014 financial results

Protek Group (PRTK:RTS, MICEX), one of the major pharmaceutical companies in Russia operating in all the segments of the pharmaceutical market (production, distribution, and retail sales), has announced its audited IFRS results for FY-2014.

In 2014, the Group's consolidated IFRS revenue increased by 12.7% y-o-y to RUB 156,948 mln.

The Group made a consolidated gross profit of RUB 19,469 mln., driving the gross margin to 12.4%.

The Group's consolidated EBITDA amounted to RUB 5,312 mln., with EBITDA margin reaching 3.4%.

The Group's consolidated EBITDA (adjusted for contingencies and one-off events) was RUB 5,203 mln., with adjusted EBITDA margin standing at 3.3%.

The Group's and Segments' Financial Highlights, FY-2014*:

	Revenue, RUB mln.	Gross profit, RUB mln.	Gross margin, %	Adjusted EBITDA, RUB mln.	Adjusted EBITDA margin, %
GROUP	156,948	19,469	12.4%	5,203	3.3%
Distribution	133,436	8,618	6.5%	2,476	1.9%
Retail Sales	24,207	7,088	29.3%	1,130	4.7%
Production	7,446	3,822	51.3%	1,666	22.4%

The Group's and Segments' Financial Highlights, FY-2013:

	Revenue, RUB mln.	Gross profit, RUB mln.	Gross margin, %	Adjusted EBITDA, RUB mln.	Adjusted EBITDA margin, %
GROUP	139,311	17,544	12.6%	4,284	3.1%
Distribution	119,742	8,269	6.9%	1,907	1.6%
Retail Sales	19,901	5,919	29.7%	915	4.6%
Production	6,344	3,659	57.7%	1,743	27.5%

Mr Vadim Muzyaev, President of Protek Group, has commented on the FY-2014 financial results: "Consolidated revenue growth rate amounted to 12.7% which surpassed the market growth rate in 2014 (9.3% according to DSM data). The biggest increase in revenue was showed by Retail segment (+21.6%). Net increase in numbers of pharmacies amounted to 210 shops. Half of total number of pharmacies was composed of low-priced pharmacies. Rigla retail chain is still topping the IMS rating**.
The Distribution Segment revenue grew up by 11.4% in 2014. The Production Segment revenue growth rate amounted to 17.4% due to the sales of proprietary brands and licensed production. Protek Group's management is reasonably satisfied with Group's consolidated financial results".

* From 1 January 2014 the Distribution segment includes Protek-SVM. Comparable data for FY-2013 in both Distribution and Production segments was adjusted appropriately.
**IMS Health data, 2014.

Contacts
Public Relations Department Protek Group
Phone: [phone] (ext. 4512)
e-mail: [e-mail]
www.protek-group.ru

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Matters discussed in this document may constitute forecasts and other forward-looking statements concerning future events or financial performance of the Company. The words "believe", "expect", "anticipate", "intend", "plan", "estimate", "aim", "forecast", "project", "will", "may", "might", "should", "could" and similar expressions (or their negative) identify certain of these forward-looking statements. The Company warns that these forward-looking statements are but forecasts that may differ significantly from actual events and performance. The Company does not intend to supplement, amend, update or revise any of the forward-looking statements contained in this document to reflect any events or circumstances occurring after the publication of this document, or any extraordinary circumstances. Multiple factors, including, in particular, overall economic conditions, competitive environment and many other risks inherent to the Company and its operations, may result in actual performance differing substantially from these forecasts and forward-looking statements of the Company.