Earnings Release • Mar 22, 2021
Earnings Release
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| Informazione Regolamentata n. 20106-8-2021 |
Data/Ora Ricezione 22 Marzo 2021 18:11:29 |
MTA - Star | |
|---|---|---|---|
| Societa' | : | Pharmanutra S.p.A. | |
| Identificativo Informazione Regolamentata |
: | 143972 | |
| Nome utilizzatore | : | PHARMANUTRAN02 - Lacorte Roberto | |
| Tipologia | : | 1.1 | |
| Data/Ora Ricezione | : | 22 Marzo 2021 18:11:29 | |
| Data/Ora Inizio Diffusione presunta |
: | 22 Marzo 2021 18:11:30 | |
| Oggetto | : | PR - PHN draft financial results 2020 approved |
|
| Testo del comunicato |
Vedi allegato.
THE GROUP CONFIRMS ITS STRONG CAPITAL SOLIDITY AND HIGH GENERATION OF CASH FLOW IN THE DECIDEDLY CHALLENGING COVID-19 CONTEXT
Net Consolidated Revenues €56.4 M (+5% compared to 2019) growing despite the difficult period Consolidated RESTATED EBITDA €16.0 M (+22% compared to 2019) for lower operating expenses than expected due to COVID-19
Consolidated Net Income RESTATED €11.6 M (+37% compared to 2019) also thanks to the Patent Box tax benefit for 2020
Net Financial Position Assets €9.4 M (+5.8M compared to 31.12.2019) operating liquidity generated in the year 11.8 M
Dividend Proposed ordinary unit of €0.67 per share (+45.7% compared to 2019)
Pisa, 22nd March 2021 - The Board of Directors of PharmaNutra S.p.A. (MTA; Ticker PHN), pharmaceutical company leader in the iron-based supplements sector, meeting today, approved the Draft Financial Statements for the Financial Year and the Consolidated Financial Statements as at 31st December 2020.
Andrea Lacorte and Roberto Lacorte, President and Vice President of PharmaNutra S.p.A., commented: "The group has achieved very positive economic results, as the financial statement figures show, and commercial ones thanks to constantly increasing sales figures; and lastly, from a scientific point of view. Even though the global situation is still complicated due to the pandemic, we are closing another growth year, consistent with Group tradition, upholding the main growth drivers declared: continuing international expansion thanks to new foreign distribution agreements, and recognition of new patents in new geographical areas that are a strategic asset for the Group's commercial and scientific success globally. Results combined with an increase in liquidity generated by operations, confirming the capacity of PharmaNutra to develop business maintaining a high cash generation level. Thanks to a solid financial structure and its current market position, PharmaNutra can concentrate its attention and reactivity on the future, to maximise further results as soon as the COVID-19 situations ends".
| Amounts in millions of euro | 2020 | % | 2019 | $\%$ | CHANGE |
|---|---|---|---|---|---|
| ECONOMIC DATA | |||||
| REVENUE | 58,7 | 100,0% | 54,2 | 100,0% | $+8%$ |
| REVENUE FROM SALES | 56,4 | 96,2% | 53,6 | 98,9% | +5% |
| EBITDA | 15,6 | 26,5% | 13,2 | 24,3% | $+18%$ |
| RESTATED EBITDA* | 16,0 | 27,3% | 13,2 | 24,3% | $+22%$ |
| NET INCOME | 14,1 | 24,0% | 8,5 | 15,6% | $+66%$ |
| NET INCOME EXCLUDING NON-RECURRING ITEMS** | 11,6 | 20,5% | 8,5 | 15,6% | $+37%$ |
| EPS - EARNINGS PER SHARE (in Euro) | 1,45 | 0,87 | $+66%$ | ||
| EPS - EARNINGS PER SHARE EXCLUDING NON-RECURRING ITEMS (in Euro) |
1,20 | 0,87 | $+37%$ | ||
| Amounts in millions of euro | 2020 | 2019 | CHANGE | ||
| BALANCE SHEET DATA | |||||
| NET INVESTED CAPITAL | 18,4 | 14,6 | 3,8 | ||
| NET FINANCIAL POSITION (positive cash) | (19,4) | (13,6) | (5,8) | ||
| EQUITY | 37,7 | 28,1 | 9,6 |
* The 2020 Restated EBITDA is net of non-recurring revenues amounting to €1 million related to a contractual indemnity, and nonrecurrent costsfor a total €1.5 million, of which €610 thousand related to finalising the agreement with the Revenue Office for access to the Patent Box preferential tax regime and €904 thousand in costs related to the group's passage towards MTA market -Star segment listing.
** The Net Result excluding non-recurring itemsfor 2020 does notinclude the tax benefitfrom formalising the preferentialtax regime agreement related to excluding from each year's taxable income a part of income from use of the so-called "intellectual property" (Patent Box) related to the yearsfrom 2016 to 2019 for a total of €3.4 million, cancellation of taxesforthe first IRAP advance foreseen by the Recovery Decree for €254 thousand, and costs net of non-recurring revenue for €1.5 million.
In 2020 consolidated revenue amounted to €56.4 million recording a 5% growth compared to the previous year.
In an extremely challenging year, the Group showed flexibility with a strong performance in the three business areas recording an approximately 3% increase in turnover on the Italian market and about 13% on foreign markets.
In volume terms, sales of finished products as at 31st December 2020 reached 8,044 thousand units increasing about 12% compared to 7,162 thousand units in the previous years.
ITALY
Strengthening and protecting business with investments to handle market changes and protect each existing asset.
Revenues from Italian market sales increased by 3% reaching €40.0 million (€39.0 in the previous year), proof of the Group's resilience in an exceptionally difficult period for the entire sector.
This was also made possible by targeted investments in innovative digital, remote working and interactive tools, such as augmented reality with which the sales network managed to maintain an ongoing dialogue with doctors and pharmacists during the first lockdown period.
This innovative "e-detailing" system will become an essential part of the traditional sales model, opening new scenarios and contributing to amplifying the commercial message.
To confirm and strengthen itsstrategic, long-term investments, in November PharmaNutra launched Cetilar® Tape with menthol, a product in the Cetilar® line.
Revenues from foreign market sales increased about 13% reaching €16.5 million (€14.6 million in the previous year) and represent about 29% of the total turnover compared to about 27% in the previous year.
The highest foreign market incidence is Europe representing 54% of the total as at 31st December 2020. This comes almost solely from the sales of SiderAL® line products for about 92% of the total.
The solid foreign market performance in 2020, despite restrictions implemented, saw the conclusion of new agreements in Bulgaria, in the Czech Republic and in Slovakia. This plus renewal of the distribution agreement in Romania and the extension of the existing distribution agreement with Medintorg to the Ukrainian market, where the group was not yet present. Lastly, extension of the existing distribution in Greece and Cyprus to Cetilar® brand products in addition to the SiderAL® and Cetilar® Cream brands.
The Group also confirmed and strengthened its presence in non-European areas by finalising important distribution agreements in Mexico with Marzam S.A., formalising a distribution agreement with Drogueria Inti - Bolivia - to distribute SiderAL® , and extending the existing distribution agreement in Brazil to include new Sucrosomial® Iron based products.
The EBITDA of the Group as at 31st December 2020 was €15.6 million (13.2 million in 2019), equal to a 26.5% margin of total revenue, with growth of about 18% compared to the previous year. The increase compared with the previous year also comes from the lower operating costs due to the COVID-19 pandemic restrictions, not just the increase in turnover.
The Restated EBITDA, obtained excluding: (i) a non-recurring contractual indemnity of about €1 million, (ii) non-recurring costs connected to formalising the "Patent Box" tax benefit and the costs sustained to launch the group's passage to the MTA market - STAR segment, for a total of €1,514 thousand, amounted to €16.0 million (27.3% of margin on total revenues), with an increase of about 22% compared to the previous year.
Netincome forthe period was €14.1 million (€8.5 million as at 31st December 2019). Excluding the net effect from the aforementioned non-recurring items, plus the tax benefit related to finalising the Patent Box agreement for the years 2016-2019, for €3.4 million, and cancellation of the first IRAP advance based on the Recovery Decree, for €254 thousand, the net profit for the period would amount to €11.6 million, with a 37% increase on the previous year.
The Net Financial Position of 2020 shows positive development compared to 31st December 2019, progressing from a positive balance of €13.6 million to a positive balance of €19.4 million.
The liquid assets generated by operating income amount to €11.8 million, confirming the great capacity for cash generation by the Group.
In the month of March the company was awarded new patents, respectively in India for "Solid Iron" and in the United States for Cetilar®.
In the month of April it signed an important commercial and scientific agreement with Pfizer Consumer Healthcare Italy S.r.l. to include Sucrosomial® Magnesium in the ingredients of a new product that Pfizer launched on the Italian market.
In the month of May the parent company obtained "Play Sure Doping Free" certification for the Cetilar® line products and for the food supplement ApportAL® .
In the month of June it formalised an agreement with the Revenue Office for access to the preferential tax regime granted by the Patent Box.
At the start of September its subsidiary Alesco obtained exclusive distribution for the Italian market of the Atura brand plant proteins. Alesco thus enriched its portfolio with new, top quality, natural raw materials, expanding its presence in fast-growing niche markets.
At the start of November PharmaNutra launched a new Cetilar® line product, Cetilar® Tape with menthol. This is an innovative inelastic, adhesive strip, versatile and easy to apply to any part of the body, based on menthol and cetylated fatty acids (CFA) of plant origin, guaranteeing a prolonged benefit for joints, muscles and tendons thanks to its slow release action.
On 15th December 2020, the ordinary shares of the Company were admitted to trading on the Mercato Telematico Azionario (MTA) organized and managed by Borsa Italiana S.p.A. – STAR segment, with simultaneous exclusion from trading on the AIM Italia market. That passage took place following Consob approval on 11th December 2020 of the Information Prospectus prepared by the Company and Borsa Italiana authorisation on the same date.
On 22nd December 2020 the company obtained two important certifications, respectively from the Notified Body of the Higher Institute for Health (ISS) and the U.S. Food and Drug Administration (FDA). It, in fact, received the CE Certification from the ISS classifying the products Cetilar® Patch and Cetilar® Tape as Class 2A Medical Devices; with Cetilar® Cream – already certified Class 2A – they now form a line of Cetylated-Esterbased (CFA) medical devices for the well-being of muscles and joints.
Those certifications are not just further qualitative confirmation of the Cetilar® line products. They are a fundamental step forward in distribution, enabling the Group to commercialise automatically at European level, and to obtain the free sale certificate required by non-EU Countries.
PharmaNutra has also obtained GRAS (acronym for Generally Recognized As Safe) acknowledgement for its patented Cetylated Esters (CFA). As is required by the FDA, that acknowledgement was obtained through the admissibility procedure by a panel of qualified experts, based on scientific data related to the safety of CFA.
The statutory financial statements of the parent company PharmaNutra close with a positive net income of € 12.6 million and net liquidity of € 16.1 Million.
The company's Board of Directors has resolved to propose a dividend of €0.67 for each share entitled (for a maximum total of €6,486,254.59) to the forthcoming Shareholders' Meeting, and distribution as follows: exdividend date of coupon no. 4 on 3 rd May 2021,record date on 4 th May 2021 and dividend payment date on 5 th May 2021.
In line with the developments of the health situation in Italy and markets where the Group operates, over 2021 the strategy of PharmaNutra will be essentially aimed at strengthening its leadership on the market of oral iron supplements, where it already holds a share of the market amounting to approximately 52% thanks to the product brand SiderAL® , and to further increase the market shares as regards the product brand Cetilar® .
Particular attention will be paid to international development, with special reference to the European, Asian and US markets. We envisage expanding our product range sold in the countries where the Group is already operative, and opening new markets, where necessary setting up new business partnerships if deemed strategically relevant.
It is believed that the strategic actions implemented during 2020 enable the Group to manage the current moment in the best way possible and place it in a condition to rapidly exploit the market recovery on the return to normal with a positive outlook for 2021.
The Board of Directors has resolved to propose to the Shareholders' Meeting pursuant to, for the effects of and within the limits of art. 2357 of the Italian Civil Code, the purchase, even in one or more tranches, for eighteen months from the aforementioned ordinary Shareholders' Meeting resolution, of a number of ordinary Company shares, with no nominal value indicated, for a counter value of maximum €3,000,000, at an amount that is no higher than the highest between the price of the last independent transaction and the price of the highest independent offer during negotiations where the purchase is made. Without prejudice to the fact that the unitary amount may not be lower than the minimum of 20% and higher than the maximum of 10% compared to the reference price that the security recorded in the trading session of the day prior to each single transaction, after revocation of the shareholders' meeting resolution of 27th April
2020 for the part not executed.
The draft Financial Statements for the year as at 31st December 2020 approved today by the Board of Directors of PharmaNutra S.p.A. will be submitted to the next Company Shareholders' Meeting to be held, on first call, on 26th April 2021.
PharmaNutra continues evolving towards a chemical-pharmaceutical industry status and strengthens that move by starting work to build a new industrial research and development facility, future headquarters of its technological and innovative assets. The new facility will be a vanguard in Europe, housing a molecular biology laboratory specialised in simulating digestion.
The new facility is expected to open in 24 months and will centralise all the Group's production and administrative stages in a single, modern site, increasing its technician and researcher workforce. The investment in the new facility, estimated as amounting to €18 million, partly self-financed and partly covered by external resources, is a strong guarantee for the employees, investors and stakeholders of PharmaNutra for what concerns protection of all company values, especially research, development and production in distribution security and quality terms. An activity that will state the true identity of PharmaNutra as a chemical/pharmaceutical industry and, when fully operational, will have positive effects in terms of turnover and margins, being able to rely on the top quality of solutions developed.
The Group reacted in a flexible, prompt and effective way to the restrictive measures adopted by national governments to deal with the COVID-19 pandemic, adopting anti-contagion protocols that could ensure the health and safety of its people.
Health insurance policies were stipulated to safeguard all employees from the consequences if infected and the Group did not use any of the social safety nets made available by Authorities for the COVID-19 emergency.
The COVID-19 epidemic slowed down the growth of volumes sold and turnover on Italian markets compared to 2019. Group company activities are included in those considered essential in measures adopted by the Government so continued normally except for the medical-scientific information activity which, due to restrictions imposed by Authorities, was redesigned and adapted to the situation.
The activities of suppliers linked to production and logistics carried on normally, as did those of customers. Nor did raw material procurement suffer any negative impacts.
***
The Manager in charge of drafting corporate accounts, Francesco Sarti, declares, pursuant to paragraph 2 of art. 154 bis of Legislative Decree 58/1998 (T.U.F.), that the account information in this press release corresponds to what is found in the accounts, books and records.
***
The following Group accounting prospectus are attached to this document, drawn up in accordance with the International Accounting Principle IFRS
***
The consolidated financialstatement as of 31st December 2020 will be made available to the public according to the terms and methods envisaged by the Issuer Regulations, as well as on the Internetsite of PharmaNutra S.p.A. www.pharmanutra.it in the section "Investor Relations".
On today's date, Monday 22nd March 2021, at 18:00 CET the results of the financial year 2020 will be presented by the Management to analysts and institutional investors. The web conference presenting the results can be followed live at the link: PHN 2020 FY Results ITA
The web conference will also be repeated in English for international analysts and investors on Monday 22nd March 2021, at 19:00 CET. The conference in English can be followed live at the following link: PHN 2020 FY Results ENG
The meeting will be held by: Andrea Lacorte (President), Roberto Lacorte (VP and CEO), Carlo Volpi (COO) and Francesco Sarti (CFO).
Founded and led by the President Andrea Lacorte and Vice President Roberto Lacorte, PharmaNutra was established in 2003. It develops unique nutritional supplements and innovative nutritional devices, handling the entire production process, from proprietary raw materials to finished product. The efficacy of the products has been demonstrated with a wealth of scientific evidence, with 112 studies published involving more than 7000 subjects. The Group distributes and sells its products in Italy and abroad. In Italy, products are sold through a network of 140 Pharmaceutical Representatives serving doctors and also exclusively selling PharmaNutra products to pharmacies throughout Italy. Products are sold in over 50 countries abroad, through 34 partners selected from among the finest pharmaceutical companies. PharmaNutra leads the market in the production of iron-based nutritional supplements under the SiderAL® brand, where it boasts a number of important patents on Sucrosomial® technology. Over the years, the Group has developed a precise strategy for the management and production of intellectual property, founded on the integrated management of all the various elements: proprietary raw materials, patents, brands and clinical evidence. PharmaNutra.it
For further information:
Via Delle Lenze, 216/b - 56122 Pisa Tel. +39 050 7846500 [email protected]
Internal Press Office [email protected]
Via Santa Radegonda, 16 - 20121 Milan Tel. +39 02 83635708
Matteo Russo [email protected] Cristina Tronconi [email protected]
| LIABILITIES AND EQUITY (€/000) | 31/12/20 | 31/12/19 |
|---|---|---|
| NON-CURRENT ASSETS | 11.303 | 11.639 |
| Tangible assets | 4799 | 4857 |
| Intangible assets | 5.181 | 4.728 |
| Investments | 254 | 254 |
| Non-current financial assets | 218 | 218 |
| Other non-current financial assets | 918 | |
| Deferred tax assets | 851 | 664 |
| CURRENT ASSETS | 40.406 | 37.225 |
| Inventories | 1.894 | 1.853 |
| Cash and cash equivalents | 16 4 5 5 | 13.751 |
| Current financial assets | 4349 | 5076 |
| Trade receivables | 15.053 | 15.028 |
| Other current assets | 1.031 | 922 |
| Tax assets | 1.624 | 595 |
| TOTAL ASSETS | 51.709 | 48,864 |
| LIABILITIES AND EQUITY | 31/12/20 | 31/12/19 |
| EQUITY: | 37,730 | 28.134 |
| Share capital | 1.123 225 |
1.123 225 |
| Legal reserve Other reserves |
22.363 | 18.352 |
| Reserve JAS 19 | (50) | (59) |
| 67 | 109 | |
| Financial Instruments Reserve (FVOCI) | ||
| FTA reserve | (70) | (70) |
| Profit (loss) for the period | 14.072 | 8454 |
| Capital and reserve attributable to non-controlling interests | ||
| Profit (loss) attributable to non-controlling interests | ||
| NON-CURRENT LIABILITIES | 2,835 | 4,457 |
| Non-current financial liabilities | 562 | 1.543 |
| Provisions for liabilities and charges | 1.018 | 686 |
| Post-employment benefits | 1.255 | 2.228 |
| CURRENT LIABILITIES | 11.144 | 16.273 |
| Current financial liabilities | 1.101 | 4.860 |
| Trade payables | 7.175 | 8.165 |
| Other current liabilities | 2348 | 2.137 |
| Taxes payable | 520 | 1111 |
| TOTAL LIABILITIES AND EQUITY | 51,709 | 48,864 |
OPHARMANUTRA OUNIAPHARMA
@ALESCO
PharmaNutra S.p.A.
via delle Lenze, 216/b - 56122 Pisa (IT)
P.I. 01679440501 | tel. + 39 050 7846500 | fax + 39 050 7846524
pharmanutrait | mali: info@pharmanutrait | pec: [email protected] C.F.
P.iva / Reg. Impr. 01679
| INCOME STATEMENT (€/000) | 2020 | 2019 |
|---|---|---|
| A) REVENUE | 58,680 | 54.214 |
| Net revenue | 56.449 | 53.624 |
| Other revenue | 2 2 3 1 | 590 |
| of which other non-recurring revenue | 1.049 | |
| B) OPERATING COSTS | 43.126 | 41.036 |
| Purchases of raw and ancillary materials and consumables | 2477 | 2.560 |
| Changes in inventories | 240 | 296 |
| Service costs | 35.285 | 34 26 2 |
| of which costs for non-recurring services | 1.514 | |
| Personnel expenses | 3.712 | 3.264 |
| Other operating costs | 1.412 | 654 |
| (A-B) EBITDA | 15.554 | 13.178 |
| C) Amortisation, depreciation and impairments | 2338 | 974 |
| of which non-recurring impairments | 1.049 | |
| (A-B-C) EBIT | 13.216 | 12.204 |
| D) FINANCIAL INCOME [EXPENSE] | 86 | (7) |
| Financial income | 146 | 71 |
| Financial expense | (60) | (78) |
| PRE-TAX PROFIT (A-B-C+D) | 13.302 | 12.197 |
| Taxes for the year | (2.661) | (3.743) |
| Taxes for previous years | 3.431 | |
| (Profit)/loss attributable to non-controlling interests | ÷. | ÷. |
| Profit/(loss) attributable to the parent company's shareholders | 14,072 | 8.454 |
| Earnings per share (in Euro) | 1,45 | 0.87 |
| OVERALL INCOME STATEMENT PROSPECTUS (€/000) | 2020 | 2019 |
|---|---|---|
| PROFIT (LOSS) FOR THE PERIOD | 14 0 72 | 8.454 |
| Profits (losses) from IAS application that will flow into I/S | $\blacksquare$ | |
| Profits (losses) from IAS application that will not flow into I/S | (23) | 78 |
| PROFIT (LOSS) FOR THE OVERALL PERIOD | 14.049 | 8.532 |
OUNIAPHARMA @ALESCO
PharmaNutra S.p.A.
via delle Lenze, 216/b - 56122 Pisa (IT)
P.I. 01679440501 | tel. + 39 050 7846500 | fax + 39 050 7846524
pharmanutrait | mali: info@pharmanutrait | pec: [email protected] C.F.
P.iva / Reg. Impr. 01679
Other changes
Profit (loss) for the period
Group Equity as at 31/12/2020
24.442
$(4.840)$
8454
28.134
$(4.453)$
14.072
37.730
$(23)$
$(42)$
$67$
$\overline{a}$
$(70)$
14072
14.072
$\overline{9}$
$(50)$
78
| €/000 | Share capital | Legal reserve |
Other reserves |
Actuarial reserve IAS 19 |
Financial Instruments Reserve (FVOCI) |
FTA reserve | Profit (loss) for the period |
Balance |
|---|---|---|---|---|---|---|---|---|
| Group Equity as at 31/12/2018 | 1.123 | 225 | 14.638 | (8) | (23) | (70) | 8.557 | 24.4 |
| Allocation of results | $\blacksquare$ | 8.557 | $\blacksquare$ | $\blacksquare$ | $\sim$ | (8.557) | ||
| Dividend distribution | $\blacksquare$ | ۰. | (4.840) | $\blacksquare$ | $\blacksquare$ | т | (4.84 | |
| Other changes | $\blacksquare$ | - | (3) | (51) | 132 | $\sim$ | $\overline{\phantom{0}}$ | |
| Profit (loss) for the period | $\blacksquare$ | $\blacksquare$ | $\blacksquare$ | $\blacksquare$ | $\sim$ | 8.454 | 84 | |
| Group Equity as at 31/12/2019 | 1 1 2 3 | 225 | 18.352 | (59) | 109 | (70) | 8454 | 28.1 |
| Allocation of results | $\overline{\phantom{0}}$ | ۰. | 8454 | $\blacksquare$ | $\blacksquare$ | $\blacksquare$ | (8.454) | |
| Dividend distribution | - | (4.453) | $\blacksquare$ | $\blacksquare$ | (4.45 |
$\overline{a}$
$\frac{1}{225}$
$10$
j.
22.363
$\overline{a}$
$1.123$
OPHARMANUTRA OUNIAPHARMA @ALESCO
PharmaNutra S.p.A.
P.I. 01679440501 | tel. +39 050 7846524
P.I. 01679440501 | tel. +39 050 78465524
pharmanutra.it | mail: [email protected] | pec: [email protected] C.F.
P.Iva / Reg. Impr. 01679440501 | I.V. REA 146259
| FINANCIAL STATEMENT (€/000) | 31/12/20 | 31/12/2019 |
|---|---|---|
| Net profit including attributable to non-controlling interests | 14.072 | 8.454 |
| NON-MONETARY COSTS/REVENUE | ||
| Amortisation, depreciation and impairments | 2.338 | 973 |
| Provisions to post-employment benefits | 203 | 172 |
| CHANGES IN OPERATING ASSETS AND LIABILITIES | ||
| Changes in provisions for liabilities and charges | 178 | 148 |
| Changes in post-employment benefits | (1.176) | 361 |
| Changes in inventories | (41) | 297 |
| Changes in trade receivables | (1.275) | (2.051) |
| Changes in other current assets | (109) | 746 |
| Changes in tax assets | (1.029) | 930 |
| Changes in other current liabilities | 211 | 349 |
| Changes in trade payables | (990) | 1,498 |
| Changes in taxes payable | (591) | 106 |
| CASH FLOWS FROM (FOR) OPERATING ACTIVITIES | 11 791 | 11.983 |
| Net investment in tangible and intangible assets | (1.329) | (4.863) |
| (Increase)/decrease in other non-current assets | 731 | (421) |
| CASH FLOWS FROM (FOR) INVESTING ACTIVITIES | (598) | (5.284) |
| Increase/(decrease) in equity | (23) | 85 |
| Cash flow for dividend distribution | (4.453) | (4.840) |
| Increase/(decrease) in non-current financial liabilities | (981) | (287) |
| (Increase)/decrease in current financial assets | 727 | (4.212) |
| (Increase)/decrease in non-current financial assets | 0 | (10) |
| CASH FLOWS FROM (FOR) FINANCING ACTIVITIES | (4.730) | (9.264) |
| CHANGE IN CASH AND CASH EOUIVALENTS | 6.463 | (2.565) |
| Opening cash and cash equivalents less current financial liabilities | 8,891 | 11 456 |
| Closing cash and cash equivalents less current financial liabilities | 15.354 | 8.891 |
| Total cash and cash equivalents | 16.455 | 13.751 |
| Total current financial liabilities | (1.101) | (4.860) |
| Closing cash and cash equivalents less current financial liabilities | 15.354 | 8.891 |
PharmaNutra Group - Consolidated Financial Statement (indirect method)
OPHARMANUTRA
BUNIAPHARMA @ALESCO
PharmaNutra S.p.A.
P.I. 01679440501 | tel. +39 050 7846524
P.I. 01679440501 | tel. +39 050 7846524
pharmanutra.it | mail: [email protected] | pec. pharmanutra.it | mail: [email protected] | pec. [email protected] C.F.
| LIABILITIES AND EQUITY (€/000) | 31/12/20 | 31/12/19 |
|---|---|---|
| NON-CURRENT ASSETS | 9.213 | 9.904 |
| Tangible assets | 4.520 | 4552 |
| Intangible assets | 1.096 | 839 |
| Investments | 3.051 | 3.051 |
| Non-current financial assets | 178 | 178 |
| Other non-current financial assets | 918 | |
| Deferred tax assets | 368 | 366 |
| CURRENT ASSETS | 34,162 | 32,093 |
| Inventories | 1.502 | 1.624 |
| Cash and cash equivalents | 12.708 | 11549 |
| Current financial assets | 4349 | 5.076 |
| Trade receivables | 13.325 | 12 583 |
| Other current assets | 938 | 857 |
| Tax assets | 1.340 | 404 |
| TOTAL ASSETS | 43.375 | 41.997 |
| LIABILITIES AND EQUITY | 31/12/20 | 31/12/19 |
| 31.799 | 23.645 | |
| EQUITY: Share capital |
1.123 | 1.123 |
| Legal reserve | 225 | 225 |
| Other reserves | 17.652 | 15.233 |
| Reserve IAS 19 | (10) | (19) |
| Financial Instruments Reserve (FVOCI) | 67 | 109 |
| FTA reserve | 106 | 106 |
| Profit (loss) for the period | 12.636 | 6.868 |
| Capital and reserve attributable to non-controlling interests | ||
| Profit (loss) attributable to non-controlling interests | ||
| NON-CURRENT LIABILITIES | 2.150 | 3.620 |
| Non-current financial liabilities | 328 | 1.099 |
| Provisions for liabilities and charges | 902 | 597 |
| Post-employment benefits | 920 | 1924 |
| CURRENT LIABILITIES Current financial liabilities |
9.426 781 |
14.732 4.016 |
| Trade payables | 6.444 | 8315 |
| Other current liabilities | 1.896 | 1.729 |
| Taxes payable | 305 | 672 |
| TOTAL LIABILITIES AND EQUITY | 43.375 | 41.997 |
OPHARMANUTRA
BUNIAPHARMA @ALESCO
PharmaNutra S.p.A.
P.I. 01679440501 | tel. +39 050 7846524
P.I. 01679440501 | tel. +39 050 7846524
pharmanutra.it | mail: [email protected] | pec. pharmanutra.it | mail: [email protected] | pec. [email protected] C.F.
| INCOME STATEMENT (€/000) | 2020 | 2019 |
|---|---|---|
| A) REVENUE | 49,025 | 45,213 |
| Net revenue | 48.011 | 44.673 |
| Other revenue | 1.014 | 540 |
| B) OPERATING COSTS | 38.148 | 35.964 |
| Purchases of raw and ancillary materials and consumables | 1984 | 2521 |
| Changes in inventories | 223 | (482) |
| Service costs | 32.156 | 31029 |
| of which costs for non-recurring services | 1.455 | |
| Personnel expenses | 2661 | 2 3 6 4 |
| Other operating costs | 1.124 | 532 |
| (A-B) EBITDA | 10,877 | 9,249 |
| C) Amortisation, depreciation and impairments | 1.023 | 768 |
| $(A-B-C)$ EBIT | 9.854 | 8,481 |
| D) FINANCIAL INCOME [EXPENSE] | 1.538 | 1.041 |
| Financial income | 1568 | 1.080 |
| Financial expense | (30) | (39) |
| PRE-TAX PROFIT (A-B-C+D) | 11.392 | 9.522 |
| Taxes for the year | (1.826) | (2.654) |
| Taxes for previous years | 3.070 | |
| Profit/(loss) attributable to non-controlling interests | ÷. | ÷. |
| Profit/(loss) attributable to the parent company's shareholders | 12.636 | 6.868 |
| Earnings per share (in Euro) | 1,31 | 0,71 |
| OVERALL INCOME STATEMENT PROSPECTUS (€/000) | 2020 | 2019 |
|---|---|---|
| PROFIT (LOSS) FOR THE PERIOD | 12 6 3 6 | 6.868 |
| Profits (losses) from IAS application that will flow into I/S Profits (losses) from IAS application that will not flow into I/S |
$\blacksquare$ (29) |
117 |
| PROFIT (LOSS) FOR THE OVERALL PERIOD | 12.607 | 6.985 |
$\begin{tabular}{l} \textbf{PharmaNutra S.p.A.}\ \textbf{PIL O16794/60501} \begin{tabular}{l} \textbf{D161} \ \textbf{PIL O16794/60501} \end{tabular} \end{tabular} \begin{tabular}{l} \textbf{D161} \ \textbf{D21} \ \textbf{D31} \ \textbf{D41} \ \textbf{D41} \ \textbf{D41} \ \textbf{D41} \ \textbf{D42} \ \textbf{D43} \ \textbf{D53} \ \textbf{D54} \ \textbf{D63} \ \textbf{D7} \ \textbf{D$
| Numero di Pagine: 16 |
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