Navamedic Q1 2014 results
Positive start of the year for Navamedic
Navamedic ASA (OSE: NAVA) today announced the Company's first quarter 2014 financial results. Navamedic repeated its sales record from the previous quarter and increased revenues by 26 per cent compared to the first quarter last year. EBITDA ended at NOK 2.0 million, compared to NOK 3.5 million last year.
However, Navamedic had a non-recurring extraordinary income of NOK 2.6 million in last year's first quarter. Adjusted for this item, profitability from operations in reality improved by NOK 1.1 million from last year's to this year's first quarter. The first quarter EBITDA corresponds to a margin of 4.6 per cent, while the EBITDA margin last year (before the one-off income) was 2.6 per cent.
Navamedic showed a pre-tax profit of NOK 0.2 million in the first quarter of 2014, against NOK 1.9 million last year (including the one-off income).
"We saw a significant sales increase in all of our segments, while we also work intensely to improve margins through e.g. product portfolio composition and an active pricing policy. Navamedic will continue to show a sales growth. However, our main focus going forward is on further improving profitability," Navamedic CEO Håkan Josephsson said.
For further information, please contact interim CEO Håkan Josephsson, telephone +46 706 742 533 or CFO Bjørn Lindholt, telephone +47 9300 6601.
Navamedic ASA is a Norwegian pharmaceutical products company, marketing and distributing more than 100 products in the Nordic and Benelux markets. The Company operates three business areas; Pharma Products, Medical Nutrition and Consumer Care based on its relationship with a number of pharmaceutical product manufacturers. Navamedic is listed on the Oslo Stock Exchange (ticker: NAVA).
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.