LACHEN, Switzerland -- (BUSINESS WIRE) --
2009 for Octapharma continued the focus on consolidation with the introduction of our own plasma production, resulting in investments exceeding €135M. Against this backdrop, for the fifth consecutive year, Octapharma realised a record turnover and profit. Our Net turnover passed the mark of 1 billion at €1,009M equivalent to an increase of 14% over €886M in 2008.
In terms of gross profit, this increased from €367M in 2007 to €415M in 2009. The gross margin was kept stable at 41% as a result of increased efficiency in our plasma centers and production plants, even though 2009 again included costs for the introduction of our own plasma production capacities above €50M.
Continuous cost awareness together with sustained efficiencies in our processes ensured that the operating costs remained 13% equivalent to €135M in 2009 versus €117M in 2008. This meant that Octapharma reached a satisfactory level in its operating income (earnings before interest and taxes) of €278M (28% margin), compared with €256M (29% margin) in 2008.
Overall, the 2009 results of €254M against €231M in 2008 is below our budget, though in line with the management expectations after the first half of 2009, particularly when factoring in the considerable establishment costs related to introducing our plasma production and large expenses related to changes at the production facilities.
As regards liquidity, the continued positive results have ensured that there is a cash buffer above €270M by year end, strong equity position with €968M or 79% of the balance sum, guaranteeing the financial basis for the planned investments and continuing our growth in the coming years.
Octapharma has benefited largely from the very positive developments in the market. However, Chairman Wolfgang Marguerre emphasised that Octapharma's satisfying result for 2009 came into fruition primarily because of the good contribution and impressive performance of all employees.
Looking forward, the outlook for Octapharma in the year 2010 remains challenging though cost awareness and productivity should enable an outcome at an almost unchanged level.
A copy of the company accounts is available at
About Octapharma:
Octapharma is a biopharmaceutical company founded in 1983. Its mission is to work for the safe and optimal usage of human proteins. Octapharma products are state-of-the-art within the treatment area of haemophilia, immune diseases, intensive care and emergency medicine. Octapharma's turnover in 2009 was EUR €1,009M. Octapharma is a privately held company with headquarters in Lachen, Switzerland, and employs over 3,000 people worldwide.
CONTACT:
Octapharma AG
Karl Erik Clausen, +41-55-451-21-23
Chief Financial Officer