Annual Report 2009
The Siegfried Group achieved sales of CHF 283 million, a 2.2% decrease over the previous year. Sales of active ingredients (Siegfried Actives) grew 15.3% to CHF 220.9 million. The Siegfried Generics Division reported sales of CHF 62.1 million, a drop of 36%.
> Annual Report 2009
Operative cash flow was a bright spot: increasing by 69.4% to CHF 45.5 million. Net working capital were reduced by CHF 39 million to CHF 133 million, which had a positive effect on cash flow, but reduced our operative results. Net debt was reduced by CHF 7.9 million to CHF 63.3 million.
The EBITDA of CHF 25.3 million (excl. the “Deliver” program restructuring costs) for the Siegfried Group is 8.9% of total revenue. The “Deliver” restructuring project achieved savings of about CHF 10 million.
For 2009, the Siegfried Group increased sales of the core business active pharmaceutical ingredients by 15.3% over the previous year and achieved an EBITDA of CHF 25.9 million and an EBITDA margin of 11.7%; compared to the industry average, these are solid results.
