Genomma Lab Internacional Reports First Quarter 2018 Results

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Genomma Lab Internacional, S.A.B. de C.V.

Apr 25, 2018, 04:27 ET

MEXICO CITY, April 25, 2018 /PRNewswire/ -- Genomma Lab Internacional, S.A.B. de C.V. (BMV: LABB) ("Genomma Lab" or "the Company"), today announced its results for the first quarter ended March 31, 2018. All figures included herein are stated in nominal Mexican pesos and have been prepared in accordance with International Financial Reporting Standards (IFRS).

The following table provides an abridged Income Statement, in millions of pesos. The margin for each figure represents its ratio to net sales and the percentage change from the first quarter 2018, as compared with the same period in 2017:

	Q1-2017	% Sales	Q1-2018	% Sales	Var. %
Net Sales	3,203.1	100.0%	3,025.4	100.0%	(5.5)%
Gross Profit	2,232.4	69.7%	2,051.1	67.8%	(8.1)%
Operating Income	677.6	21.2%	667.1	22.1%	(1.6)%
EBITDA⁽¹⁾	694.2	21.7%	683.4	22.6%	(1.6)%
Net Income	471.6	14.7%	378.6	12.5%	(19.7)%

(1) EBITDA is defined as operating income before depreciation and amortization.

Comments from the CEO

Mr. Máximo Juda, Chief Executive Officer, commented: "We are pleased with our progress in the first quarter of 2018. While exchange rate effects on our consolidated figures adversely impacted our first quarter sales growth when expressed in Mexican pesos, year over year sales increased 4.1% in local currencies, with one of the highest quarterly EBITDA margins in our Company's history. This is a reflection of improved fulfillment capabilities as well as our streamlined operations and the continued successful execution of important cost containment strategies throughout our organization."

Mr. Juda continued: "Further, we made important headway in anticipation of launching our new manufacturing facility located in the State of Mexico. We continued to rationalize product portfolio with a focus on our most profitable SKUs, ensuring optimal plant efficiency, and ramped up our innovation progress at the Mexico City pilot plant in anticipation of launches in the second half of the year. Construction of the new production facility is progressing well and remains on track to begin production in the fourth quarter of 2018, to ensure superior product quality and an enhanced value equation, while economies of scale will drive further important cost efficiencies."

For a full version of Genomma Lab Internacional's First Quarter 2018 Earnings Release, please visit: Genomma Lab Internacional Q1 2018 Earnings Release (English version)

CONFERENCE CALL INFORMATION:

Genomma Lab will host a conference call on Thursday, April 26, 2018, to discuss these results at 11:00 a.m. Eastern Time / 10:00 Central Time (Mexico City Time).

To access the call, please dial:
+1 877-407-8031 (From within the U.S.)
+1 201-689-8031 (From outside the U.S.)

There will also be a live Audio Webcast of the event at:
http://www.investorcalendar.com/event/27975

About
Genomma Lab Internacional, S.A.B. de C.V. is one of the leading pharmaceutical and personal care products companies in Mexico with an increasing international presence. Genomma Lab 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. Genomma Lab relies on the combination of a successful new product development process, a consumer-oriented marketing, a broad retail distribution network and a low-cost, highly flexible operating model.

Genomma Lab's shares are listed on the Mexican Stock Exchange under the ticker "LABB" (Bloomberg: LABB:MM).

SOURCE Genomma Lab Internacional, S.A.B. de C.V.