Zentiva Hlohovec posts significant profit decrease

Zentiva’s Slovak subsidiary in Hlohovec closed the financial year 2011 with a net profit of €7.55m, a significant drop compared with 2010, when the company earned €54.8m, news portal Zdrave Zdravotnictvo reported, adding that the manufacturer did not state the reasons for the decrease.

Sales revenues reached €223.2m in 2011, an increase by €8.4m year-on-year, while the company’s operating costs amounted to €148.2m, up by €61.2m compared with 2010.

The company’s assets stood at €262.3m at the end of 2011, while its equity capital totalled €206.1m, Slovak daily SME added.

A general shareholders meeting is set for 29 June, during which the annual statement and 2011 dividends will be discussed. Zentiva Hlohovec shareholders will also elect a new board chairman. Zentiva Hlohovec is owned through Zentiva NV by Sanofi.