IMA’s 2009 on track but challenges may lie ahead

17-Feb-2009 - Last updated on 17-Feb-2009 at 11:32 GMT

IMA chief financial officer Sergio Marzo says that although demand for its machines has been strong so far this year, the number of orders it receives in the second quarter will provide a better reflection of the pharmaceutical industry’s position.

Marzo said that: “So far the number of the projects on the market is good and comparable with last year. In the next few months we will see what is going to happen in term of decision making process from the pharma industry.”

He added that while sales in the European Union in 2008 were not as strong as they had been, demand in North America, Eastern Europe and Asia had continued to grow, with the Asian market likely to be of increasing importance for the Italian firm.

Marzo made the comments to in-PharmaTechnologist following the publication of the Italian firm’s strongest ever set of financial results, which saw full year 2008 operating profit of €72m ($92m), up 3 per cent, as revenue grew 20 per cent to €547m.

He said that in addition to higher revenue from IMA Edwards’ freeze drying and aseptic packaging technologies, IMA’s blistering and filling machine platforms had continued to perform well in 2008.

Marzo added that although sales of IMA’s solid dose packaging systems had not as been as strong last year, the breadth of the company’s portfolio had proved to be a real competitive advantage in the difficult economic climate.

He also explained that the decline in Q4 operating profit, down 5 per cent to €25.6m was “due to a different mix between original equipment and after sales together with a lower percentage of revenues coming form the tea market.”

In a press statement issued by the firm, company chairman Alberto Vacchi said that the firm had “kept [its] promises with a record 2008, despite the macro economic scenario.”

Vacchi went on to predict that for 2009 IMA’s revenues will reach €565m and gross profit will hit around €91m adding that “with constant and targeted investments…we will be able to cope with the challenges that await us over the coming months.”