Biomed Lublin improved its financial results in the first half of 2020 – the company announced in a press release. He explains the growth of Biomed with a better sales mix and an increase in sales outside Poland.
The revenues of Biomed Lublin in the first half of 2020 increased by 7%, to PLN 19.7 million. At the same time, operating profit increased by 13%. up to PLN 2.24 million. Biomed’s EBITDA also increased – from PLN 4.9 million to PLN 5.2 million, i.e. by approx. 6%. Every year. In the opinion of the company’s management board, this improvement is the result of a better sales mix.
The operating margin of the biotechnology company increased to 11.4 percent, and the EBITDA margin was 26.5 percent.
The company’s net result was PLN 0.7 million (+18% y / y).
Sales of BGC vaccine (+56%), Onko BGC (+116%) and Lakcid (+58%) in the company’s revenues increased significantly.
Declines were recorded in the case of Distreptaza (-24.4%) and Gamma Anti-D (-28.4%).
The Management Board of Biomed Lublin estimates that mainly foreign markets contributed to the increase in sales. Their share in revenues increased to 45%. against 33 percent a year ago.
“Our profit would have been significantly higher had it not been for the lockdown, during which doctors issued fewer prescriptions and hospitals suspended scheduled procedures and surgeries. This mainly applies to Distreptase. Despite the difficult conditions, we did everything to increase exports and sales of key products such as the vaccine. anti-tuberculosis and Onko BCG “, said Marcin Piróg, the president of Biomed Lublin.
“Against the background of the industry, which recorded an almost 30% drop in sales, these are encouraging results. In the coming quarters, we hope for a further increase in interest in the BCG vaccine, which is constantly being tested for its effectiveness in protecting against Covid-19 infection” – he added.
From the beginning of 2020, the prices of Biomed Lubla’s shares have increased by almost 1000 percent. This is mainly due to the production of the first batch of the drug for Covid-19. President Piróg assures that the work on the drug based on the plasma of convalescents is going according to plan. (PAP Biznes)