Financial updates
Pharming Group reports financial results for the first quarter of 2020
Pharming Group N.V. presents its (unaudited) financial report for the first quarter of the year ended 31 March 2020.
Highlights:
- Delivered revenues of €49.3 million, an increase of 40% on Q1 2019
- Operating profit of €19.4 million, an increase of 59% on Q1 2019
- Despite significant one- off financial expenses of €3.7 million from full pay-off of loan, net profits increased by 25% to €8.4 million, compared to Q1 2019,
''Looking forward to the remainder of 2020, we expect continued sales growth versus last year, driven by increasing patient numbers and despite competitive pressure, whilst remaining cognisant of the macro-environment and uncertainty around COVID-19''
- Sijmen de Vries - CEO