Business · Companies · 2 hrs ago
Blau Farmacêutica posts 5% fall in third-quarter recurring profit
Brazilian drugmaker Blau Farmacêutica reported R$69 million in recurring net profit for the third quarter, 5% below the same period a year earlier.
The company said profit would have risen 7% without currency effects, to R$79 million.
Revenue increased 7% to R$506 million, with hospital sales up 11% to R$431 million.
Recurring EBITDA rose 12% to R$128 million, helped by a higher gross margin and lower expenses relative to sales.
New production lines missed the quarter’s sales window because they received all required approvals only in early November, limiting sales through private channels.
Blau said it will prioritize expanding its existing factories in the short term.
Blau Farmacêutica reported recurring net profit of R$69 million in the third quarter, down 5% from a year earlier.
Without the effects of currency variation, recurring profit would have been R$79 million, up 7%, the company said.
Recurring EBITDA rose 12% to R$128 million, while net revenue increased 7% to R$506 million.
The company said delayed approvals for new production lines prevented sales of their products during the quarter and limited private-channel sales.
Blau said it plans to prioritize expansion at its existing factories in the short term.
- Who
- Blau Farmacêutica, a pharmaceutical company.
- What
- It reported recurring net profit of R$69 million, down 5% year over year.
- When
- In the third quarter. The results were disclosed on Nov. 10.
- Where
- Not stated
- Why
- The company said recurring profit would have risen 7% excluding currency variation. It did not state a specific reason for the reported decline.
This story does not have two clearly opposing sides.
Blau recorded recurring net profit of R$69 million and said delayed approvals limited sales from new production lines.
The company had net cash of R$98 million, compared with net debt of R$197 million a year earlier.
Blau received all approvals for its new production lines, after the quarter had ended.
Blau disclosed its third-quarter results.
- Recurring net profit
- R$69 million, down 5% year over year
- Profit excluding currency effects
- R$79 million, up 7%
- Recurring EBITDA
- R$128 million, up 12%
- Net revenue
- R$506 million, up 7%
- Hospital segment revenue
- R$431 million, up 11%
- Operating cash flow
- R$213 million, up 49%