Shareholders will meet on September 19. The increase in capital will be in cash, as well as kind, by including a state-a piece of land provided exclusively to the company by the state. The company will issue a total of 431 million shares, at a subscription price equal to the nominal value of shares, of RON 0.1, to be registered on October 5. Company representatives could not be contacted by closing time of this edition.
Biofarm’s profits in H1 2007 increased by 21.19 percent, amounting to RON 9.15 million (some €2.8 million), compared to RON 7.55 million (€2.1 million) year-on-year. The company’s total revenues rose by 5.4 percent to RON 30.9 million (approximately €9.3 million), while total expenses dropped by RON 420,000 (€123,000) to RON 19.9 million (€6.1 million). However, the company’s turnover virtually stagnated with an increase of a mere 1.3 percent, from RON 29.14 million (€9 million) to RON 29.53 million (€9.42 million), within the context of 20 percent growth of the pharmaceuticals market. Romania’s pharmaceuticals market is worth some €1.8 billion and is one of the most dynamic in the region.
For 2007, Biofarm forecasts turnover worth RON 66 million (€20 million), 14 percent higher year-on-year, and profits of RON 13.3 million (€4 million), up 4.5 percent compared to the same period last year. Biofarm is the only Romanian producer of gelatinous capsules and one of the most important producers of syrups and solutions, with a 15 percent market share in this sector. Main Biofarm shareholders are SIF5 Oltenia (14.33 percent), SIF2 Moldova (10.78 percent), SIF1 Banat Crisana (10 percent), business persons Dumitru Tudor, Elena Rada Constantinescu and Bogdan Andrei Tudor with 8.42 percent, and the Julius Baer International Equity Fund, with 5.14 percent.
