MEXICO CITY, Feb. 17 /PRNewswire-FirstCall/ -- Genomma Lab Internacional, S.A.B. de C.V. (BMV: LAB) ("Genomma" or "the Company"), announced today its fourth quarter and twelve month results for the periods ended December 31, 2008. All figures included herein are audited(1) and were prepared in accordance with Mexican GAAP; 2008 figures are stated in nominal Mexican pesos and 2007 figures have been restated in constant Mexican pesos as of December 31, 2007. Also, the following consolidated figures show the Company's Spanish operations reclassified as discontinued operations according to Mexican GAAP.
4Q08 Highlights (vs. 4Q07) -- Net Sales reached Ps. 749.2 million, an increase of 33.6% -- Gross Profit was Ps. 545.5 million, an increase of 37.6% -- EBITDA(2) increased 27.3% to Ps. 212.1 million -- Consolidated Net Income rose 92.8% to Ps. 192.7 million -- Earnings Per Share(3) increased 34.0% to Ps. 0.97 during the fourth quarter -- International Net Sales rose 662.9%, to Ps. 113.4 million -- During the fourth quarter, Genomma successfully launched eight products under six existing brands (Base Brands(4) and Prior Year Launches(5)) as part of our line extension strategy -- The Company also launched five products under four New Brands(6), as part of its new product launch plan during the fourth quarter -- As of December 31, 2008 the Company had a net cash position of Ps. 1,291.0 million
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Genomma Lab Internacional, S.A.B. de C.V. is one of the fastest growing over-the-counter pharmaceutical and personal care products companies in Mexico. Genomma develops, sells and markets a broad range of premium branded products, many of which are leaders in the categories in which they compete in terms of sales and market share, through a combination of a successful new products development process, consumer-oriented marketing, a broad retail distribution network and a low-cost, highly flexible operating model.
The Company had net sales of Ps. 2,629.4 million and EBITDA of Ps. 691.1 million in 2008. Genomma's shares are listed on the Mexican Stock Exchange under the ticker symbol "LAB.B" (Bloomberg: labb.mx).
Note on Forward-Looking Statements
This report may contain certain forward-looking statements and information relating to the Company that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like "believe," "anticipate," "expect," "envisages," "will likely result," or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this release and in oral statements made by authorized officers of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
(1) Audited Financial Statements have not been presented to the shareholders' meeting for approval. (2) EBITDA is defined as earnings before interest, taxes, depreciation and amortization. (3) Earnings per share is for the last 12 months. Earnings per share were calculated using the weighted average of shares outstanding for the period. (4) As defined in the full earnings report. (5) As defined in the full earnings report. (6) As defined in the full earnings report. Investor Relations Contact: Oscar Villalobos Tel: +52 (55) 5081 0000 Ext. 4250 E-mail: email@example.com In New York: i-advize Corporate Communications, Inc. Tel: (212) 406-3692 E-mail: firstname.lastname@example.org
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