DGAP-News

STADA: Good start in the first quarter of 2013 - organic growth accelerated - Seite 2

says Hartmut Retzlaff, Chairman of the Executive Board at STADA.

Development of sales
In the first quarter of 2013, Group sales rose by 8 percent to Euro 477.0
million (1-3/2012: Euro 443.4 million).

Sales of the core segment Generics showed an increase of 2 percent to Euro
305.7 million in the first three months of the current financial year
(1-3/2012: Euro 299.3 million). Generics thus had a share in Group sales of
64.1 percent (1-3/2012: 67.5 percent). The core segment Branded Products
recorded sales growth of 21 percent to Euro 163.1 million in the first
quarter of 2013 (1-3/2012: Euro 135.2 million). Branded Products thus
contributed 34.2 percent to Group sales (1-3/2012: 30.5 percent).

Earnings development
Reported operating profit increased in the reporting period by 54 percent
to Euro 71.0 million (1-3/2012: Euro 46.2 million). Reported EBITDA rose by
25 percent to Euro 96.9 million (1-3/2012: Euro 77.2 million). Reported net
income recorded an increase of 80 percent to Euro 34.9 million (1-3/2012:
Euro 19.4 million).

After adjusting the key earnings figures for influences distorting the
period comparison resulting from one-time special effects and
non-operational effects from the measurement of derivative financial
instruments, adjusted operating profit increased by 8 percent in the first
quarter of 2013 to Euro 73.0 million (1-3/2012: Euro 67.9 million).
Adjusted EBITDA showed a plus of 7 percent to Euro 98.5 million (1-3/2012:
Euro 92.3 million). Adjusted net income recorded a minus of 7 percent to
Euro 36.7 million (1-3/2012: Euro 39.3 million) due to a temporarily
increased tax rate.

The net debt to adjusted EBITDA ratio amounted in the reporting period on
linear extrapolation of the adjusted EBITDA of the first quarter of 2013 on
a full year basis to 3.0 (1-3/2012: 3.3) and was thus below the value of
December 31, 2012 in the amount of 3.2.

Helmut Kraft, Chief Financial Officer, said the following regarding the
financial development in the first three months of 2013: 'We are very
satisfied with the level of profitability reached in the first quarter of
2013. The strong adjusted EBITDA margin of 20.7 percent impressively
underlines that we have been more than able to compensate for the
challenging environment in Western Europe with the cost efficiency
practiced within the Company and our investment focus on emerging markets
and highly profitable branded products. As a result we have in the meantime
achieved almost 50 percent of the adjusted operating profit of the core
segments with our branded products with a clear upward progression and our