Kaunas, Lithuania, 2012-02-27 17:01 CET (GLOBE NEWSWIRE) --
Consolidated unaudited profit before tax of AB Sanitas (company code 134136296, registered address Veiveriu str. 134B, Kaunas, Lithuania) group (hereinafter - the Group) for 2011 amounted to LTL 457,272 thousand (€ 132,435 thousand), compared to LTL 62,999 thousand (€ 18,246 thousand) profit before tax for the same period in 2010.
The Group profit before tax significantly differs from prior year result mainly due to investment to the associate entity Valeant IPM sp. z o.o. accounting, which resulted in LTL 467,383 thousand (€ 135,363 thousand) gain in the Group profit and loss. In addition to this, in 2011 the Group experienced LTL 56,331 thousand (€ 16,315 thousand) one-off expenses related to sale of the company’s shares. In 2010 the Group had LTL 14,487 thousand (€ 4,196 thousand) one-off gain from disposal of the subsidiary HBM Pharma s.r.o. If the mentioned above one-off items are eliminated, the Group profit before tax would amount to LTL 46,220 thousand (€ 13,386 thousand) in 2011 and to LTL 48,512 thousand (€ 14,050 thousand) in 2010. The result for 2011 was also negatively affected by foreign currency exchange loss in the amount of LTL 14,903 thousand (€ 4,316 thousand) which was caused by PLN depreciation against EUR on Jelfa S.A. loans, denominated in EUR.
The Group‘s sales in 2011 amounted to LTL 333,433 thousand (€ 96,569 thousand), compared to LTL 339,372 thousand (€ 98,289 thousand) for the same period in 2010.
Unaudited interim condensed consolidated and separate financial statements for the period ended 31 December, 2011 together with the confirmation of the responsible persons are enclosed.
A person authorized to provide additional information: Mr. Saulius Mecislovas Zemaitis,
General Manager AB Sanitas, phone number +370 37 200 662.
Dovilė Morkytė
Lawyer
Tel. +370 615 15163
