Greek pharmaceuticals/cosmetics/detergents industry's production up 11.3 pct in Jan-Aug

Greek pharmaceuticals/cosmetics/detergents industry's production up 11.3 pct in Jan-Aug

The Greek pharmaceuticals/cosmetics and detergents industry remains in a positive course this year as it continues to improve its export performance, a development that helped the industry to report remarkable operating profits in 2012, a survey showed on Thursday.
The survey by ANA-MPA, based on Hellenic Statistical Authority Elstat's data on the January-August 2013 period, showed that production of pharmaceuticals grew 11.3 pct helped by rising orders from the international market and higher sales of generics in the domestic market. Cosmetics production grew 4.0 pct in the eight-month period, while production of detergents jumped 14.5 pct.

The pharmaceuticals/cosmetics/detergents sector, with 64 enterprises, said its 2012 EBITDA were almost unchanged at 2011 levels and net profits fell despite the fact that pharmaceutical companies reported a significant improvement of their profitabiity. Revenues totalled 1.87 billion euros in 2012, down 2.0 pct from the previous year, while assets in circulation totaled 2.6 billion euros. Gross earnings fell 3.0 pct to 636 million eurs, EBITDA totaled 235 million euros and pre-tax and interest earnings rose 10 pct to 153.3 million euros.

Pre-tax earnings fell 31 pct to 25.6 million euros, while net earnings after taxes dropped 75 pct to 1.2 million euros.

Based on net results, 32 out of the 64 enterprises in the sector (50 pct of total) were profitable, while the other 32 were loss-making. Net profits by the 32 profitable companies were 67.1 million euros, while net losses of the 32 loss-making companies were 65.9 million euros.