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Genomma Lab Internacional Announces Results for the First Quarter 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
By: PR Newswire Association LLC. - 25 Apr 2024 | Back to overview list |
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MEXICO CITY, April 24, 2024 /PRNewswire/ -- Genomma Lab Internacional, S.A.B. de C.V. (BMV: LAB B) ("Genomma" or "the Company"), today announced its results for the first quarter of 2024. All figures included herein are stated in nominal Mexican pesos and have been prepared in accordance with International Financial Reporting Standards (IFRS), unless otherwise mentioned. Comments from our CEO, Marco Sparvieri "Our EBITDA margin expanded significantly, reaching 22.3% in Q1 2024, an increase above 150 basis points year on year, driven by cost efficiencies through our manufacturing plant and the focus on our productivity initiatives. Our productivity goals remain on track, with a 40% progress to date towards Ps. $1,800 MM in annual cost savings by 2027." Q1 2024 Financial Summary The following table provides a summary of the Company's Income Statement, in millions of Mexican pesos.
Like-for-like ("LFL") sales: when adjusted into constant currency and excluding the hyperinflationary subsidiary, sales increased by 9.7% reflecting a double-digit increase in six out of nine core categories, 78% of sales exceeding inflation and 45% of sales resulting from market share growth. Net sales (ex Argentina): when excluding the hyperinflationary subsidiary, sales increased by 5.8%, adversely impacted by a strong Mexican peso revaluation. Net sales: 0.5% increase impacted by Argentina results. EBITDA: reached 22.3% margin and a 7.9% increase reflecting a significant 153 basis-point margin expansion due to cost efficiencies in the manufacturing facility and productivity initiatives across the Company. Net income: 3.9% increase due to a higher operating income. Excluding the non-controlled affiliate, net income would have increased by double-digits. EPS: Ps. 0.36 per share, a 6.8% increase reflecting higher net income and the cancellation of 28 million shares during the second quarter of 2023. For a full version of Genomma Lab's First Quarter 2024 Earnings Release, please visit: https://inversionistas.genommalab.com/en/financial-information CONFERENCE CALL INFORMATION: Genomma Lab will host a conference call on Thursday, April 25, 2024, to discuss these results at 1:00 p.m. Eastern Time / 11:00 a.m. Mexico City Time. To access the call, please register here. After registration, please use the Zoom link provided to ensure optimal access to the event webcast and to avoid difficulties associated with local carrier connections. About Note on Forward-Looking Statements View original content:https://www.prnewswire.com/news-releases/genomma-lab-internacional-announces-results-for-the-first-quarter-2024-302126810.html SOURCE Genomma Lab Internacional, S.A.B. de C.V. |
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Copyright 2024 PR Newswire Association LLC. | Back to overview list |