Genomma Lab Internacional Reports Fourth Quarter & Full Year 2022 Results

Rhea-AI Summary

Genomma Lab Internacional, S.A.B. de C.V. reported its financial results for the fourth quarter and full year ended December 31, 2022. Key highlights include a net sales increase of 8.9% year-on-year, reaching Ps. 16.86 billion, and a gross profit rise of 6.6%, totaling Ps. 10.20 billion. The operating income grew by 7.1%, amounting to Ps. 3.26 billion, with an EBITDA increase of 8.1% and a margin of 20.6%. However, the fourth quarter showed a decline in gross profit margin to 57.1% from 63.0% year-over-year. The conference call for Q4 results is scheduled for February 23, 2023.

Positive

• FY-2022 sales increased by Ps. 1.37 billion, +8.9% year-on-year.
• FY-2022 EBITDA rose by 8.1%, with a margin of 20.6%.
• FY-2022 operating income grew by Ps. 216.3 million, +7.1% year-on-year.
• Q4-2022 net debt to EBITDA ratio closed at 1.40x.
• Capex investments for the year reached Ps. 256.0 million.

Negative

• Q4-2022 gross profit decreased 7.5% compared to Q4-2021.
• Q4-2022 operating income fell by 5.5% year-on-year.

MEXICO CITY, Feb. 22, 2023 /PRNewswire/ -- Genomma Lab Internacional, S.A.B. de C.V. (BMV: LAB B) ("Genomma Lab" or "the Company"), today announced its results for the fourth quarter and full year ended December 31, 2022.  All figures included herein are stated in nominal Mexican pesos and have been prepared in accordance with International Financial Reporting Standards (IFRS).

The following tables provide an abridged Income Statement, in millions of Mexican pesos. The margin for each figure represents its ratio to net sales and the percentage change in the fourth quarter and full year 2022 as compared with the same audited period in 2021:

	FY 2022	% Sales	FY 2021(2)	% Sales	Var. %
Net Sales	16,858.8	100.0 %	15,487.1	100.0 %	+8.9 %
Gross Profit	10,195.6	60.5 %	9,563.2	61.7 %	+6.6 %
Operating Income	3,262.9	19.4 %	3,046.6	19.7 %	+7.1 %
EBITDA(1)	3,470.9	20.6 %	3,209.8	20.7 %	+8.1 %
Net Income	1,396.8	8.3 %	1,307.9	8.4 %	+6.8 %
	Q4 2022	% Sales	Q4 2021(2)	% Sales	Var. %
Net Sales	4,171.1	100.0 %	4,090.1	100.0 %	+2.0 %
Gross Profit	2,383.7	57.1 %	2,576.2	63.0 %	(7.5) %
Operating Income	788.4	18.9 %	834.3	20.4 %	(5.5) %
EBITDA(1)	839.9	20.1 %	889.6	21.8 %	(5.6) %
Net Income	253.6	6.1 %	216.0	5.3 %	+17.4 %

1)	EBITDA defined as operating income before depreciation and amortization
2)	FY-2021 audit adjustments were allocated to Q4-2021 as presented herein. Largest effects were related to the audited financial statements of Marzam, affiliate company not controlled by Genomma.

 

Highlights

• FY-2022 Sales increased by Ps. 1.37 billion; +8.9% year-on-year
• FY-2022 EBITDA increased +8.1% with a 20.6% margin
• FY-2022 Operating Income increased by Ps. 216.3 million; +7.1% year-on-year
• Q4-2022 Net Debt to EBITDA ratio closed at 1.40x
• Capex Investments for the twelve months ended December 31, 2022 reached Ps. 256.0 million.

For a full version of Genomma Lab's Fourth Quarter & Full Year 2022 Earnings Release, please visit: https://inversionistas.genommalab.com/en/financial-information

CONFERENCE CALL INFORMATION:

Genomma Lab will host a conference call on Thursday, February 23, 2023 to discuss these results at 11:00 a.m. Eastern Time / 10:00 Central Time (Mexico City Time).

To access the call, please register here

After registration, please use the Zoom link provided to ensure optimal access to the event webcast and to avoid difficulties associated with local carrier connections.

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 "LAB B" (Bloomberg: LABB:MM).

Note on Forward-Looking Statements

This report may contain certain forward-looking statements and information relating to the Company that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like "believe," "anticipate," "expect," "envisages," "will likely result," or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation and in oral statements made by authorized officers of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Risks and uncertainties include, but are not limited to: risks related to the impact of the COVID19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays, supply chain disruptions and other impacts to the business, or on the Company's ability to execute business continuity plans as a result of the COVID-19 pandemic, economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products attained by competitors; challenges inherent in new product development; the ability of the Company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws; changes in behavior and spending patterns of purchasers of products and services; financial instability of international economies and legal systems and sovereign risk. A further list and descriptions of these risks, uncertainties and other factors can be found within the Company's related filings with the Bolsa Mexicana de Valores. Any forward-looking statement made in this release speaks only as of the date of this release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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

FAQ

What are the key financial highlights for Genomma Lab (GNMLF) for FY 2022?

Genomma Lab reported a 8.9% increase in net sales, reaching Ps. 16.86 billion, and a 6.6% rise in gross profit totaling Ps. 10.20 billion for FY 2022.

When is the conference call for Genomma Lab's Q4 2022 results?

The conference call is scheduled for February 23, 2023, at 11:00 a.m. Eastern Time.

What was the net income for Genomma Lab for FY 2022?

Genomma Lab reported a net income of Ps. 1,396.8 million for FY 2022.

How did Genomma Lab's EBITDA perform in FY 2022?

Genomma Lab's EBITDA increased by 8.1% in FY 2022, with a margin of 20.6%.

What was the change in Genomma Lab's gross profit margin for Q4 2022?

The gross profit margin for Q4 2022 declined to 57.1%, down from 63.0% in Q4 2021.