Economic-Financial performance
The demand in reais reached R$ 1.7 billion, a 16% growth over 2008. In units, growth reached 9.8%.
Its presence in the whole country and its portfolio adapted to diversified market needs allowed the company to make use of the opportunities generated by the economic recovery, and, for the second year running, Aché posted increase in demand – both in reais and in units – above MFT’s. The demand in reais reached R$ 1.7 billion, a 16% growth over 2008 (2.5 percentage points over the market average). In units, growth reached 9.8 %, against an MFT’s evolution of 8.4%.
The results reported in the year are an evidence of the company’s strength and are based on the strategies adopted over the recent years, with investments focused on a sustainable future growth and the creation of methodologies to detect and seize market opportunities.
The Prescription Business Unit, with higher representativeness for the company, boosted the overall performance, with a demand of 64.2 million units and R$ 1.168 billion. When compared to the previous year, demand grew by 6% in units and 13% in value. The growth was well balanced over the several therapeutic classes, highlighting medicines for the respiratory system, cardiovascular system, gastrointestinal tract and metabolism, with performance above the Unit’s average.
Generics had the best performance among the company’s business units, with a 31.8% growth in reais when compared to 2008. The Unit’s overall demand reached R$ 374.1 million (28.3 million units). The growth was 8 percentage points higher than the market’s performance, and was boosted by portfolio structuring and by the policy of presence and relationship with the points of sale.
The performance of the Over-the-Counter Drugs (OTC) Unit – with 8.2% growth in demand and 2.5% decrease in units – reflected the regulatory measures imposed to this segment. To cope with the new measures, the company focused on reevaluating its product positioning and definition of the Unit’s future strategy.
| EVOLUTION (R$) | ||||||
|---|---|---|---|---|---|---|
| 2009 | 2008 | 2007 | ||||
| MFT | Aché | MFT | Aché | MFT | Aché | |
| Total | 14.5% | 16.0% | 12.1% | 14.7% | 9.9% | 3.5% |
| Prescription | 12.5% | 13.0% | 10.3% | 10.1% | 6.7% | 3.6% |
| Generics | 23.8% | 31.8% | 24.4% | 45.4% | 27.7% | 10.1% |
| OTC | 14.2% | 8.2% | 10.4% | 4.4% | 10.2% | (3.8%) |
| EVOLUTION (UNITS) | ||||||
|---|---|---|---|---|---|---|
| 2009 | 2008 | 2007 | ||||
| MFT | Aché | MFT | Aché | MFT | Aché | |
| Total | 8.4% | 9.8% | 7.7% | 12.3% | 5.6% | 0.4% |
| Prescription | 5.4% | 6.0% | 5.4% | 7.9% | 3.0% | 0.1% |
| Generics | 19.4% | 31.0% | 19.0% | 45.9% | 19.5% | 7.2% |
| OTC | 7.4% | (2.5%) | 6.2% | (1.3%) | 4.1% | (3.7%) |
Focused on its future growth, the company diversified its investment front lines, and earmarked a total of R$ 42.5 million to renew its portfolio, expand the Guarulhos plant, and update machinery. Over one-half of that amount (R$ 25 million) was intended for the Research, Development and Innovation area, a 104.6% growth over the previous year.
| VALUE ADDED STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2008 TO 2007 (In R$ thousand) | |||
|---|---|---|---|
| CONSOLIDATED | |||
| 2009 | 2008 | 2007 | |
| REVENUES | |||
| Sales of goods, products and services | 1,378,186 | 1,237,586 | 1,100,924 |
| Provision for doubtful accounts - reversion (constitution) | 813 | (25,819) | (4,156) |
| 6,065 | - | - | |
| 1,385,064 | 1,211,767 | 1,096,768 | |
| THIRD-PARTY INPUTs | |||
| Costs of products, goods, and services sold | 240,287 | 231,419 | 238,667 |
| Material, energy, third-party services and others | 270,866 | 251,164 | 208,175 |
| Loss/recovery of assets | 6,690 | 10,980 | 7,884 |
| 517,843 | 493,563 | 454,726 | |
| GROSS VALUE ADDED | 867,221 | 718,204 | 642,042 |
| DEPRECIATION, AMORTIZATION AND DEPLETION | (25,292) | (186,965) | (161,915) |
| NET VALUE ADDED PRODUCED BY THE COMPANY | 841,929 | 531,239 | 480,127 |
| VALUE ADDED RECEIVED FROM TRANSFER | |||
| Equity equivalence result | - | - | - |
| Financial income | 47,092 | 51,355 | 30,904 |
| 47,092 | 51,355 | 30,904 | |
| TOTAL VALUE ADDED TO BE DISTRIBUTED | 889,021 | 582,594 | 511,031 |
| DISTRIBUTION OF VALUE ADDED | 889,021 | 582,594 | 511,031 |
| Employees | 257,987 | 237,293 | 207,642 |
| Direct remuneration | 221,375 | 209,759 | 183,548 |
| Benefits | 22,506 | 14,392 | 12,594 |
| FGTS (government severance indemnity fund) | 14,106 | 13,142 | 11,500 |
| Taxes and contributions | 307,051 | 182,461 | 152,121 |
| Federal | 204,475 | 51,383 | 43,402 |
| State | 99,655 | 127,623 | 103,845 |
| Other taxes | 2,921 | 3,455 | 4,874 |
| Interest on third-party capital | 53,882 | 72,855 | 68,149 |
| Interests | 36,147 | 55,388 | 57,505 |
| Rents | 17,735 | 16,945 | 10,613 |
| Others | - | 522 | 31 |
| Interests on own capital | 270,101 | 89,985 | 83,119 |
| Dividends | 270,101 | 81,661 | 58,355 |
| Retained earnings for the year | - | 7,912 | 24,730 |
| Participation of non-controlling in retained earnings | - | 412 | 34 |
| Economic and Financial Evolution – main indicators (R$ million) | |||||
|---|---|---|---|---|---|
| 2009 | 2008 | 2007 | var (%) 2009 / 2008 | var (%) 2008 / 2007 | |
| Gross Income | 2,157.2 | 1,913.5 | 1,628.9 | 12.7 | 17.5 |
| Net Income | 1,196.0 | 1,078.6 | 954.2 | 10.9 | 13.0 |
| Gross Profit | 911.7 | 807.1 | 704.2 | 13.0 | 14.6 |
| Operating Profit | 368.0 | 250.1 | 252.6 | 47.1 | (1.0) |
| Net Profit | 270.1 | 89.6 | 83.1 | 201.5 | 7.8 |
| Ebitda | 404.3 | 304.0 | 291.8 | 33.0 | 4.2 |
| EBITDA Margin vs. net Income | 33.8 | 28.2 | 30.6 | 5.6 p.p. | (2.4 p.p) |
Sintocalmy enters the market in 2010 to offer a safer, more efficient alternative in the treatment of symptoms of anxiety.
Increased demand in all segments boosted the company’s results.