The income of the pharmaceutical company Genomma Lab rose 17% in the fourth quarter of 2021, accumulating 4,062.7 million pesos (mdp), with which the company spun three consecutive years of growth.
In a statement sent to the Mexican Stock Exchange (BMV), the company reported an operating flow (or Ebitda) of 889.9 million pesos during the last quarter of the year, which represented an increase of 23.6%. With this, it reached a net profit of 326.8 million pesos, 9.9% higher than that registered in the same period of 2020.
The company attributed this increase in sales to “innovation initiatives”, in which there were several line extensions in its products, as well as a “strong performance” of new categories and “aggressive” marketing and advertising campaigns. To a lesser extent, the rise in revenue was also related to a slight recovery in the anti-flu category at the end of December.
“Starting this quarter, we will highlight our efforts to achieve inorganic growth initiatives and strategic alliances as a new pillar within Genomma’s growth strategy,” said Jorge Brake, CEO of Genomma Lab, quoted in the financial report. “We will continue to capitalize on business opportunities that align with the company’s long-term goals and values, seeking to exploit our unique manufacturing and marketing capabilities.”
In the annual accumulated, Genomma Lab registered 15,459.7 million pesos in sales, 11.5% more than in 2020. It also registered an Ebitda of 3,215.8 million pesos and a net profit (9.8% more in the year-on-year comparison), and a net profit of 1,451 million pesos. , 1.3% lower than the gains achieved in 2020.
For this year, the company’s strategy aims to “deepen and broaden” its position in new categories that add value to its brand portfolio.
By region, the Mexican market had the largest increase in revenue during the quarter, 25.6%, while the Latin American market showed a rebound of 16.6% in the year. In the United States, Genomma Lab’s sales grew 1.6% in the quarter, and fell 14.4% during 2021.
Over-the-counter products grew the most in revenue (17.2%) during the year, with greater strength in the Latin American market, where sales rose 45.1%. In addition, personal care products grew 5.3%, with the greatest dynamism in the Mexican market, where sales grew 18.8%.
