Procaps Group S.A. (NASDAQ:PROC) Q2 2023 Earnings Call Transcript September 5, 2023 11:00 AM ET

Company Participants

Melissa Angelini - IR Director

Ruben Minski - CEO

Patricio Vargas - CFO

Conference Call Participants

Kemp Doliver - Brookline Capital Markets

Operator

Good day, and welcome to the Procaps Group Business Update Call and Webcast. Today's conference is being recorded. Please note that some statements made during this call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties. Any statement that refers to expectations, projections, and/or future events, including financial projections or future market conditions is a forward-looking statement.

The company's actual future results could differ materially from those expressed in such forward-looking statements due to a variety of risks, uncertainties, and other factors, including, but not limited to, those set forth in Procaps Group’s SEC filings. Procap assumes no obligation to update any such forward looking statements. Please also note that past performance or market information is not a guarantee of future results.

At this time, I would like to turn the conference over to Melissa Angelini, Investor Relations Director for Procaps. Please go ahead.

Melissa Angelini

Thank you. Hello, everyone. Thank you for standing by and welcome to the Procaps business update call. We appreciate everyone joining us today. This conference call is also being webcast, and a link to the webcast is available on the Procaps IR website. The questions received through the webcast platform will be answered by email. Please note that we filed our earnings release today, which can also be found on the IR website. Please review the disclaimers included in the investor presentation. During this call, non-GAAP financial measures will be discussed and presented. We believe non-GAAP disclosures enable investors to better understand Procaps core operating performance. Please refer to the investor presentation for a reconciliation of each of these non-GAAP measures to the most directly comparable GAAP financial measures.

Now, I would like to turn the call over to Procaps’ CEO. Please, Ruben, go ahead.

Ruben Minski

Thank you, Melissa, and thank you all for joining us today for our second quarter and six months 2023 results conference call. I wanted to give you an update on how we're doing and where we're headed. While we faced a tough first half of the year, and it is true that we did not do as well as we hoped, the measures that we have started implementing late last year are already bearing the results of our full recovery. We're continuing to work on our value creation and market growth initiatives and speeding up our plans to make the company better in the medium and long term.