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ots Ad hoc-Service: STADA Arzneimittel AG
STADA Arzneimittel AG Reports Excellent Fiscal Year for 1999
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Bad Vilbel (ots Ad hoc-Service) -
Sales up 37.5 percent to DM 692 million - 2000 off to a brilliant start - stock split announced to stimulate market price
STADA Arzneimittel AG today publishes its figures for the 1999 fiscal year.
At the press conference reviewing the 1999 financial year, STADA is able to report excellent results as well as strategic successes with its expansion in the European generics markets. The Bad Vilbel-based health company has continued its dynamic growth course in sales and profits in 1999.
STADA's sales rose 37.5 percent in 1999, up from approximately DM 503 million to DM 692 million. EBITDA (earnings before interest, tax, depreciation, and amortization) was up 17.6 percent and reached more than DM 74 million.
"It's especially pleasing that the company's expansion is founded on a broad basis. Many subsidiaries have contributed to it with above- average growth rates. Our success is based on healthy, organic growth" emphasized Hartmut Retzlaff, CEO of STADA Arzneimittel AG. Acquisitions contributed 2% (DM 9 million) of the growth in sales. 35% (DM 179 million) is related to organic growth.
The earnings per share according to the German Association for Financial Analysis and Investment Consulting (DVFA) was increased from DM 16.60 in the previous year to DM 17.50 in 1999.
At the annual general meeting on June 19, 2000, STADA's Executive Board and Supervisory Board will propose to the shareholders another dividend increase from DM 8.50 to DM 9.50 for common shares and from DM 9.50 to DM 10.50 for preferred shares.
In its projections, STADA expects the organic growth to continue for the next few years (CAGR for sales higher than 20% p.a., CAGR for EBITDA higher than 10% p.a.). Furthermore, additional growth promoting acquisitions of companies, products, and brands are planned. "The brilliant start in 2000 with 52 percent growth in consolidated sales in the first two months of the year has already made us very confident that we will be able to achieve the company's goals for 2000", said Retzlaff. The first quarter results will be published on May 12, 2000.
To consistently finance the dynamic growth, the capital measures (capital increase and issuance of bonds with warrants) adopted earlier were introduced. As the CEO explained, "The company will receive proceeds of some DM 280 million as a result of these measures".
In addition to the exceptional fundamentals, the share price will be further strengthened with a stock split. "We will propose this at the shareholders' meeting on June 19, 2000 in order to make the share price more accessible and stimulate prices", Retzlaff announced.
Additional information on STADA Arzneimittel AG, the complete 1999 annual report, and the charts presented at the press conference are on the Internet at www.stada.de.
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