PROTEK Group announces preliminary operational results for Q3-2017 and 9M-2017

26.10.2017

PROTEK Group (PRTK: MICEX), a major Russian pharmaceutical company announces its preliminary operational results for Q3-2017 and 9M-2017 according to the unaudited management accounts *.

Group Revenue Highlights by Segment*:

Revenue,                  RUB mln.

Group

Distribution

Retail

Production

Eliminations

Q3-2017

62,028

52,334

12,176

2,470

-4,952

Q3-2016

59,245

52,257

9,672

2,589

-5,273

Change, Q3-2017 / Q3-2016

4.7%

0.1%

25.9%

-4.6%

-

9M-2017

185,315

156,571

35,978

8,208

-15,442

9M-2016

169,422

148,068

27,793

7,596

-14,035

Change, 9M-2017 / 9M-2016

9.4%

5.7%

29.4%

8.1%

-

 

  • In Q3-2017, the consolidated revenue of the Group increased by 4.7% y-o-y to RUB 62,028 mln. 

  • In 9M-2017, the Group’s consolidated revenue increased by 9.4% y-o-y to RUB 185,315 mln.
  • The Group’s revenue growth for 9M-2017 was driven by all the business segments.

Distribution Segment:

Distribution Segment Revenue Highlights:


Revenue, RUB mln.

Q3-2017

52,334

Q3-2016

52,257

Change, Q3-2017 / Q3-2016

0.1%

9M-2017

156,571

9M-2016

148,068

Change, 9M-2017 / 9M-2016

5.7%


  • In 9M-2017, the Distribution Segment made up 78% of the Group’s total revenue**.

Retail Segment

  • Total of 1,939 retail outlets were active as at 30th September 2017.
  • In Q3-2017, 104  pharmacies were organically opened and 23 pharmacies were closed.
  • In 9M-2017, 227 pharmacies were organically opened and 56 pharmacies were closed.
  • In 9M-2017, the Retail Segment made up 17.9 % of the Group’s total revenue**.

Retail Segment Operating Highlights:


Revenue, 

RUB mln.

Traffic, ‘000

Q3-2017

12,176

27,809

Q3-2016

9,672

23,859

Change, Q3-2017 / Q3-2016

25.9%

16.6%

9M-2017

35,978

81,674

9M-2016

27,793

68,013

Change, 9M-2017 / 9M-2016

29.4%

20.1%


Like-for-Like (L-f-L) Sales***:

As at 30th September 2017, there were 1,222 Like-for-Like pharmacies in the Retail Segment.

L-f-L Retail Segment Operating Highlights:


L-f-L revenue change, %

Traffic change, %

Average ticket change, %

Q3-2017/ Q3-2016

4.3%

-2.1%

6.6%

9M-2017 / 9M-2016

4.5%

-1.6%

6.2%


“Bud Zdorov!” and “Jivika” low price pharmacies:

  • As at 30th September 2017, retail “Bud Zdorov!” brand was represented in 1,040 pharmacies and Jivika brand in 354 pharmacies.
  • In 9M-2017, “Bud Zdorov!” and “Jivika” pharmacies L-f-L revenue increased by 10.7%         y-o-y, traffic L-f-L was up 1.6%.

Production Segment

Production Segment Operating Highlights:


Revenue, RUB mln.

Volume, mln. packages

Prop. brands in revenue, %

Q3-2017

2,470

9.2

77.6%

Q3-2016

2,589

8.7

67.1%

Change, Q3-2017 / Q3-2016

-4.6%

6%

9M-2017

8,208

27.6

77.46%

9M-2016

7,596

20.5

72.8%

Change, 9M-2017 / 9M-2016

8.1%

34%


  • In Q3-2017, the proprietary brands’ revenue surged by 10.4% to RUB 1,917 mln. against RUB 1,737 mln. in Q3-2016.
  • In 9M-2017, the proprietary brands’ revenue surged by 14.9% to RUB 6,358 mln. against RUB 5,533 mln. in 9M-2016.
  • The 9M-2017 revenue growth was due to a sales increase of all proprietary products except for Nemulex and Bartizar.
  • In 9M-2017, the Production Segment made up 4.1 % of the Group’s total revenue**.

Vadim Muzyaev, President of PROTEK Group: "Consolidated revenue in 9M-2017 reached 185.3 billion Rubles, +9.4% y-o-y. In Q3-2017 revenue growth rate amounted to 4.7%, total Group’s revenue accounted for 62.0 billion Rubles. Such results were stipulated by growth in Retail segment (+29.4% for 9M-2017), Production segment (+8.1% for 9M-2017) and Distribution segment  (+5.7% correspondingly). Pharmaceutical market growth rate in Q3-2017 was 13.2% in value terms and 15.2% in packages according to DSM Group data. Management is reasonably satisfied by operational results of PROTEK Group”.

*Unaudited management accounts of Protek Group for Q3-2017 and 9M-2017, preliminary data.

**Calculated as the share of each segment in the total revenue (excluding unallocated revenue and eliminations).

***Like-for-Like data on the pharmacies opened or acquired over the 24 months immediately preceding the reporting period and not closed during the reporting period.

***

Matters discussed in this document may constitute forecasts and other forward-looking statements concerning future events or financial performance of the Company.  The words “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “aim”, “forecast”, “project”, “will”, “may”, “might”, “should”, “could” and similar expressions (or their negative) identify certain of these forward-looking statements. 

The Company warns that these forward-looking statements are but forecasts that may differ significantly from actual events and performance.  The Company does not intend to supplement, amend, update or revise any of the forward-looking statements contained in this document to reflect any events or circumstances occurring after the publication of this document, or any extraordinary circumstances. 

Multiple factors, including, in particular, overall economic conditions, competitive environment and many other risks inherent to the Company and its operations, may result in actual performance differing substantially from these forecasts and forward-looking statements of the Company.

News list
сотексРафармапротеинпротектранссервис
Проаптекаспаргопротек-свмриглапротек фонд