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Grupo Casa Saba Announces Quarterly Earnings Report 2Q09
Date:7/27/2009

ion as a percentage of total sales went from 3.17% in 2Q08 to 2.38% in the second quarter of 2009.

There were marginal changes in the sales mix during the quarter. Private Pharma sales represented 85.20% of total sales (compared to 83.70% during the second quarter of 2008), while Government Pharma accounted for 3.81% (versus 3.92% during the second quarter of 2008). Health, Beauty, Consumer Goods, General Merchandise and Other represented 8.61% (compared to 9.21% in the second quarter of 2008) and Publications made up the remaining 2.38% (versus 3.17% during the second quarter of 2008).

GROSS INCOME

During the second quarter of the year, Grupo Casa Saba's gross income increased 12.42% versus the same period of the previous year to reach $832.64 million. The company's gross margin improved 0.35%, from 10.64% in 2Q08 to 10.99% during the current period. This was the result of the higher sales derived from recent investments in our Private Pharma division.

OPERATING EXPENSES

Operating expenses reached $585.52 million, an increase of 17.07% compared to the second quarter of 2008. This was due to the investments that were made in the Private Pharma division. Operating expenses represented 7.73% of our total sales in 2Q09 compared to 7.19% during the same period of the previous year.

OPERATING INCOME

Operating income increased 2.75%, as a result of the growth in sales which offset the increase in operating expenses. The operating margin was 3.26%, 0.20% lower than the 3.46% margin registered in the second quarter of 2008.

OPERATING INCOME PLUS DEPRECIATION AND AMORTIZATION

Operating income plus depreciation and amortization for 2Q09 was $269.88 million, an increase of 4.17% compared to the second quarter of 2008. Depreciation and amortization for the period was $22.76 million, 22.51% higher than in the second quarter
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SOURCE Grupo Casa Saba
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