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Stada raises medium term sales and profit outlook
March 17, 2017 / 9:38 AM / 6 months ago

Stada raises medium term sales and profit outlook

FRANKFURT, March 17 (Reuters) - German drugmaker Stada , the subject of takeover approaches from two private equity consortiums, has raised it outlook for the medium term on anticipated growth in its core generics business and additional cost savings.

The company now expects 2019 adjusted group sales of between 2.65 billion euros and 2.7 billion ($2.85-$2.91 bln), up from a previous outlook of about 2.6 billion euros.

Adjusted earnings before interest tax, depreciation and amortization (EBITDA) is expected to come in at between 570 million euros and 590 million and adjusted net income at between 250 million euros and 270 million.

Previously the company had said it expected adjusted EBITDA to reach about 510 million euros in 2019 and adjusted net income at about 250 million euros.

On Thursday, Stada postponed the bidding process to give rival suitors a chance to improve their offers. ($1 = 0.9284 euros) (Reporting by Harro ten Wolde; Editing by Arno Schuetze)

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