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Investing.com -- Gedeon Richter PLC (BU:GDRB) reported second-quarter sales of HUF 241.5 billion on Wednesday, growing 12% year-on-year and aligning with analyst forecasts while exceeding consensus estimates by 2%.
The Hungarian pharmaceutical company’s Women’s Health segment showed particularly strong performance, with 19% year-on-year growth, helping drive Clean EBIT to HUF 79.6 billion. This represented a 23% increase compared to the same period last year and beat expectations by 7%.
The company’s Biotechnology unit showed margin improvement, with Clean EBIT margin improving from -43% in the first quarter to -18% in the second quarter. Research and development costs were lower than expected in Q2, particularly in the Central Nervous System (CNS) division.
Net profit reached HUF 51.9 billion, falling 8% below consensus estimates, primarily due to reduced foreign exchange gains in the net financials line.
Following these results, Gedeon Richter has maintained its full-year guidance, projecting pharmaceutical revenues to grow 10% at constant exchange rates and Clean EBIT to increase by 10% at constant exchange rates.
The company’s stock is currently trading at HUF 10,460.00, with RBC analysts maintaining an Outperform rating and a price target of HUF 12,400.00.