Genomma Lab Internacional Reports Fourth Quarter & Full Year 2023 Results

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“Due to the abrupt devaluation of the Argentine peso in late December, accounting rules required Genomma Lab to record a non-cash negative impact on 4Q23 and full year 2023 earnings. However, excluding this extraordinary accounting effect, the Company’s core business is solid with good prospects. This information has been proactively and transparently presented, enabling investors to understand that this is an isolated event, not indicative of operating issues. Genomma remains committed to delivering value for its shareholders through a strong and growing business.”

MEXICO CITY, Feb. 21, 2024 /PRNewswire/ — Genomma Lab Internacional, S.A.B. de C.V. (BMV:LAB) (“Genomma Lab” or “the Company”), today announced its results for the fourth quarter and full year ended December 31, 2023.  All figures included herein are stated in nominal Mexican pesos and have been prepared in accordance with International Financial Reporting Standards (IFRS), unless otherwise mentioned.

The following table provides an abridged Income Statement, in millions of Mexican pesos. The margin for each figure represents its ratio to net sales and the percentage change in full year 2023 as compared with the same audited period in 2022.

FY 2023

 % Sales

FY 2022 (2)

 % Sales

Like for like(3)

Var. %

Net Sales

16,466.7

100.0 %

16,819.9

100.0 %

+16.7 %

(2.1) %

Gross Profit

10,082.8

61.2 %

10,163.5

60.4 %

(0.8) %

Operating Income

3,224.2

19.6 %

3,245.2

19.3 %

(0.6) %

EBITDA(1)

3,453.5

Full story available on Benzinga.com


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