Pharmacy Chain 36.6 losses widen 31% in 9M
MOSCOW. Feb 17 (Interfax) - Pharmacy Chain 36.6 saw its net losses to International Financial Reporting Standards (IFRS) increase 31% year-on-year in January-September to 551.8 million rubles, the company said in a statement.
This growth was caused by a lump-sum compensation payment to a consortium of investors as an ahead-of-schedule settlement for a dollar-denominated loan in the process of restructuring Pharmacy Chain 36.6's credit portfolio.
Earnings before taxes, depreciation and amortization (EBITDA) for the nine-month period was up 23.2% to 1.307 billion rubles, and gross profit rose 15.3% to 6.863 billion rubles. The gross margin stood at 43.7%, compared to 40.7% in the same period of 2010.
The group's consolidated net sales grew 7.4% to 15.693 billion rubles in January-September of last year. In the third quarter, sales edged up 0.3% to 4.882 billion rubles.
In the retail segment, net sales increased 4.3% to 10.571 billion rubles. In the third quarter, they were down 3% to 3.307 billion rubles. The average LFL check (including VAT) during the nine months grew 22.3% to 303 rubles. Gross profit in the retail segment was up 14.4% to 3.477 billion rubles. The gross margent grew by 2.9% to 32.9%.
As of September 30, 2011, trade accounts payable had grown 7.1% to 3.129 billion rubles.
Inventories shrank 3.7% to 2.538 billion rubles.
As of September 30, Pharmacy Chain 36.6 had aggregate debt totaling 11.125 billion rubles, or 19.2% more than in the same period of 2010. Net debt came to 10.762 billion rubles. Debt in the retail and corporate segment totaled 10.199 billion rubles, 97% of which was denominated in rubles. OJSC VeroPharm had debt of 926.5 million rubles (100% in rubles).
Expenses grew 21.9% to 1.066 billion rubles. Investments totaled 430.4 million rubles, including 113.5 million rubles in the retail segment. VeroPharm's investments came to 315.2 million rubles.
As of September 30, 2011, Pharmacy Chain 36.6 managed 996 pharmacies, 19 Early Learning Centers, ten optic stores and 19 optical departments located inside of pharmacies.
