BAD VILBEL (dpa-AFX) - STADA Arzneimittel AG (STDAY.PK), which is the target of a voluntary public takeover offer, reported Thursday that its second-quarter net income declined 22 percent to 41.1 million euros from last year's 52.4 million euros. Earnings per shares were 0.66 euros, lower than 0.84 euros last year.
Adjusted net income was 60.8 million euros or 0.97 euros per share, compared to 56.0 million euros or 0.90 euros per share a year ago.
Reported EBITDA decreased 3 percent to 112.4 million euros, while adjusted EBITDA was up 17 percent to 129.2 million euros.
Group sales increased 7 percent to 576.9 million euros in the second quarter from 537.5 million euros a year ago, driven by Generics and Branded Products.
Group sales adjusted for currency and portfolio effects recorded an increase of 4 percent to 557.9 million euros.
On July 25, STADA said that it's Executive Board and Supervisory Board urged its shareholders to accept the renewed voluntary public takeover offer by Nidda Healthcare Holding AG, the acquiring company of Bain Capital and Cinven Partners LP.
In early July, Nidda Healthcare announced a new voluntary public takeover offer for STADA for 66.25 euros per STADA share.
Copyright RTT News/dpa-AFX