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23 Nov, 2009 11:21

Kalina posts 9M 2009 Net Income of $13 million

Kalina posts 9M 2009 Net Income of $13 million

Russia’s largest cosmetics and perfumery producer, Kalina, has posted a 9M 2009 Net Income of $13 million under IFRS.

The bottom line was down 26% year on year from the $17 million posted for 9M 2008, with EBITDA down 12% year on year to $37 million, on the back of a 7.8% drop in Sales to $320 million.

Kalina noted that the results were significantly better in Rouble terms with Rouble denominated 9M Net Profit coming in at 419 million Roubles, unchanged from 9M 2008, with 9M Rouble denominated EBITDA up 19% to 1.207 Billion Roubles, on the back of a 25% year on year increase in Rouble denominated sales to 10.44 billion Roubles.

The company attributed the results to the launching of new products under the Black Pearl and Dr Scheller brands, which helped to offset foreign exchange losses of 78.1 million Roubles.