Earnings per share came to HUF 31 for the period.
Richter’s revenue rose 7.5% to HUF 88.8 bln. Direct cost of sales rose at more than double that pace, climbing 16.7% to HUF 36.3 bln.
Gross profit edged up 1.9% to HUF 52.4 bln.
Sales and marketing expenses and R+D spending both rose almost 12% to HUF 27.1 bln and HUF 10.7 bln, respectively.
Operating profit dropped 40.4% to HUF 7.3 bln.
In Q1-Q3, Richter’s net income fell 27.7% to HUF 28.8 bln as operating profit dropped 37.6% to HUF 26.3 bln. Richter attributed the decline to a deteriorating gross margin, a lack of milestone income, higher claw-back related liabilities and increased R+D spending. Revenue edged up 1.2% to HUF 263.7 bln.
In a breakdown of sales by region, Richter said turnover in Hungary was up 3.7% at HUF 25.8 bln in Q1-Q3. Sales in the rest of the European Union increased 6.7% to HUF 100.2 bln. Sales in the CIS were down 7.9%, with sales in Russia falling 12.5% to HUF 64.2 bln and sales in Ukraine dropping 19.3% to HUF 12.4 bln. US sales were up 17.3% at HUF 10.8 bln, sales in China rose 4.6% to HUF 10.1 bln and Latin American sales jumped 36.3% to HUF 5.9 bln.
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