Israeli pharmaceutical company Teva ( US) submitted financial statements for 1 neighborhood 2021 G.
Revenue fell by almost 9% to $3,99 billion, EBITDA - by 13%, and Adjusted Net Income - by 46%. At the same time, free cash flow has significantly decreased (FCF): with $551 million to $59 million.
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Teva presented frankly weak results. Some time ago, the company began implementing a cost optimization strategy., increasing efficiency and reducing net debt. However, so far this strategy has not yielded tangible results..
For objectivity's sake, we note, that in some way the pandemic prevented. However,, the company could benefit from this situation too, however failed to do so. Profitability stays in place, net debt is decreasing, however very insignificantly. Debt burden remains high: based on the results of 1 quarter 2021 G. about 5.1x Net debt / EBITDA.
Against the background of a weak report, a position on Teva was closed in one of the portfolios of a subscription service.
We continue to follow the paper, but at this stage we do not see strong drivers for growth. At least, till.
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