Genomma Lab Internacional SAB de CV

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Our forecast was reaffirmed with the return of LAB shares and the exit of LASITE AND STES to the Mexbol. Sample adjustments will take place next Tuesday, March 21st, effective at market close on Friday, March 17th. The announcement is preliminary and...

Genomma Lab Internacional announced that, after a long delay due to the pandemic, it has finally received the Good Manufacturing Practices (GMP) Certification from the Ministry of Health’s Federal Committee for Protection from Sanitary Risks (COFEPRI...

Going forward, the normalization in the comparative base and the progressive start-up of its plant support a favorable outlook, while the valuation looks attractive (~12% discount vs. Challenges in the cost and expense structure affected profitabilit...

Latam was the main growth driver for the quarter. The latter was the result of a difficult comparative base, due to preventive buying of drugs at the beginning of the pandemic a year ago. As a result, EBITDA totaled MXN 726 million (+6.9% y/y). Final...

EBITDA maintained its double-digit growth. Again, successful commercial strategy, coupled with strict expense control, translated into a positive year-end for LAB. Meanwhile, EBITDA grew 16.4% y/y to MXN 771 million, reflecting into a 190bps margin e...

The personal care plant could start up in 4Q20, while the certification process of the OTC plant continues. Through a relative valuation model by multiples, we establish a PT2021 of MXN 29.00. This represents a 10.5x FV/EBITDA 2021E, slightly below t...