EnglishZentiva N.V. announced that it expected to report net sales for the first quarter of 2008 of around CZK 4.4 billion, representing a 30% growth over the same period in 2007. The growth was driven by the new Turkish business which contributed total net sales of CZK 1.4 billion in the quarter.
"This first quarter sales outcome is a solid performance particularly given the strengthening of the Czech Koruna during this period. This growth in sales provides us with a good foundation from which to generate the operational improvements that we started to deliver in the latter part of 2007. The integration of our Turkish business is progressing and we continue to focus on efficiencies across the Group," said Chairman and CEO Jiri Michal.
In Romania, Zentiva gross pharmaceutical sales declined by around 40% yoy. In local currency terms sales in Romania declined by approximately 30% yoy. During the quarter, Zentiva continued to successfully manage its working capital in this important market for the Group.
Zentiva is listed on the Bucharest Stock Exchange (BSE) as SCD. The market capitalization is 210.56 million RON, corresponding to 0.505 RON/share as of 22 April.
Zentiva"s other markets have shown healthy growth with pharmaceutical sales up 11% yoy (almost 19% at comparable currencies) driven by strong performances in Russia, Ukraine, other CIS, Bulgaria and Hungary.
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