- Over 28 million net revenues from sales of products, goods and materials;
- PLN 7.5 million of net profit - as compared to approx. PLN 5 million in the first quarter of 2017;
- A 7% quantitative growth of products sold and strengthening the leading position of most drugs from the portfolio in their respective therapeutic groups.
In the first quarter of 2018, the Company improved its profitability by achieving the level of sales value of its products comparable to the first quarter of 2017, with a significant increase in production and sales efficiency as well as greater activation of the costs of scientific and research activities. The Company reduced its operating costs by 13%. Material and energy consumption as well as external services decreased significantly, while depreciation increased, which is however an expected phenomenon resulting from investments made in advanced and automatic production technologies.
Bogdan Manowski, Director for Business Development at Celon Pharma S.A.: The result for the first quarter of 2018 confirms the strong position held by our products in Poland. The introduced optimisation of production processes aimed at increasing efficiency is to prepare the Company for the implementation of increased export orders in the coming periods. Additional exports will in the first place concern the Scandinavian markets where we have obtained marketing authorisation for Salmex in recent months.
The Company is consistently implementing its research and development action plan. Currently Celon Pharma S.A. is finalising phase 1 of its eskatemine clinical trial and is getting ready to launch its clinical programme for an FGFR inhibitor.
Maciej Wieczorek, PhD, President of the Board of Celon Pharma S.A.: The progress of innovative projects as well as the construction of our new Research and Development Centre are proceeding in accordance with the adopted plan. At the same time, we are increasing our international presence by presenting the results of our scientific and research works at numerous conferences. They arouse great interest among both scientists and potential business partners.
The strategy for intentional commercialisation of Celon Pharma’s innovative portfolio assumes the option of selling complete rights and territorial rights, as well as various combinations of co-development with co-financing. The selection of the strategy for the product will be associated with the market specificity and investment specificity of the product development.
The Management Board of the Company recommended to the General Meeting of Shareholders, which will be held on 23 May this year, the distribution of the Company's net profit for 2017 and allocation of PLN 7, 650,000 for dividend payment to the shareholders, in the amount of PLN 0.17 per share. The Management Board recommends 12 June 2018 to be the dividend record date and that the dividend be paid out on 25 June 2018.