Adcock Ingram is a leading South African pharmaceutical manufacturer, marketer and distributor. The Company occupies a 10% share of the private pharmaceutical market in South Africa with a strong presence in over-the-counter brands. The Company is South Africa’s largest supplier of hospital and critical care products. Its footprint extends to India and other territories in sub-Saharan Africa.

The extensive product portfolio includes branded and generic prescription medicines and over-the-counter/fast moving consumer goods (FMCG) brands, intravenous solutions, blood collection products and renal dialysis systems.

Vision
To be recognised as a leading world-class branded healthcare company.

Foreword
Adcock Ingram is now the number 1 in the Vitamins, Minerals & Supplements category in FMCG and number 2 in Pharmacy.

CEO, Jonathan Louw

FINANCIAL FEATURES

Turnover increased 3% to R4,599 million
   
EBITDA decreased 16% to R986 million
   
HEPS decreased 9% to 422,4 cents
   
Final distribution per share increased 8% to 115 cents

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COMMENTARY

FINANCIAL REVIEW

Headline earnings

The Group achieved headline earnings for the year ended 30 September 2012 of R713.4 million (422.4 cents per share). This represents a 10.1% decrease over the comparable figure for 2011 of R793.9 million and translates into a decrease of 9.2% in headline earnings per share.

Turnover

The acquisition of NutriLida supported turnover growth of 3.3% to R4,599 million (2011: R4,454 million). This was achieved notwithstanding the loss of sales of DPP-containing products and the reduced Anti-Retroviral (ARV) tender award. Price reductions across the business averaged 0.7% for the year, an improvement from the figure of 2.3% at the half-year.

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FINANCIALS

arrow Consolidated statements of comprehensive income
arrow Consolidated statement of changes in equity
arrow Consolidated statements of financial position
arrow Consolidated abridged statements of cash flows
arrow Notes to the consolidated financial statements

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