Faes Farma’s Q3 results were a mixed bag. While sales came in below our expectations with flat yoy growth at €49m (+9% in H1; +6% in 9M), the shortfall was more than offset by improved profitability, with EBIT growing 20% to €13m (9M: +15%) and net profit increasing 19% to €10m (9M: +14%). For 9M, the top line was driven by Bilastine (+25%), antidiabetic licences (+21%), anti-inflammatory licences (+10%) and Ingaso Farm (+13.5%). Higher other operating income and lower de
28 Dec 2015
Margin improvement offsets weak top-line performance
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Margin improvement offsets weak top-line performance
Faes Farma, S.A. (FFEA:FRA) | 0 0 2.0% | Mkt Cap: 765.7m
- Published:
28 Dec 2015 -
Author:
Jyoti Prakash - Pages:
Faes Farma’s Q3 results were a mixed bag. While sales came in below our expectations with flat yoy growth at €49m (+9% in H1; +6% in 9M), the shortfall was more than offset by improved profitability, with EBIT growing 20% to €13m (9M: +15%) and net profit increasing 19% to €10m (9M: +14%). For 9M, the top line was driven by Bilastine (+25%), antidiabetic licences (+21%), anti-inflammatory licences (+10%) and Ingaso Farm (+13.5%). Higher other operating income and lower de