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DGAP-News: PharmaSGP Holding SE / Key word(s): AGM/EGM
PharmaSGP Holding SE successfully holds 2022 AGM
- 91.07% of share capital represented
- Shareholders approve proposed dividend payment; all other agenda items approved by a clear majority
- Following record revenue in 2021, Management Board reports on growth prospects based on PharmaSGP platform
In the course of the annual meeting, the Management Board delivered a detailed report on the development in revenue and earnings in the 2021 fiscal year, in which PharmaSGP achieved a historic record revenue amounting to € 65.3 million. Adjusted EBITDA in the 2021 fiscal year also increased substantially to € 19.4 million (previous year € 17.0 million). Based on the successful development in business, the Management Board was able to propose that the Annual General Meeting should approve a dividend payment amounting to 50.5% of Group earnings for the period. The shareholders represented at the meeting adopted this proposal by a majority of 100%.
Once again in the first quarter of 2022, the company has set another new record with revenue up 67% on the same period last year at € 20.6 million. This success PharmaSGP achieved was in large part due to the acquisition of a product portfolio from the GlaxoSmithKline Group. The potential unlocked by the integration of the four established OTC brands Baldriparan®, Formigran®, Spalt® and Kamol® has continued to unfold since September of last year.
As CEO Natalie Weigand commented: “The development in sales in the past financial year and in the first quarter impressively demonstrates the potential we are able to leverage via our platform with both existing and newly acquired brands. We are delighted that our investors are able to profit from our strong operating performance during the past year, and we are confident that we will be able to continue to develop our potential.” Michael Rudolf, CFO of PharmaSGP, added: “With a look to the 2022 fiscal year we are targeting a revenue of between € 78 million and € 82 million, and we aim to sustain an adjusted EBITDA margin in a range above 30%.”
The detailed results of voting at the 2022 annual general meeting are available to download from the PharmaSGP website under the heading of Investor Relations / Annual General Meeting.
PharmaSGP is a leading consumer health company with a diversified portfolio of over-the-counter (OTC) pharmaceuticals and other healthcare products that are marketed with a focus on the pharmacy distribution channel. These products are mostly based on natural active pharmaceutical ingredients with documented efficacy and few known side effects.
The Company’s core brands cover chronic indications, including rheumatic pain, nerve pain and other age-related ailments. In Germany, PharmaSGP is the market leader for systemic chemical-free pain remedies with its brand families RubaXX® for rheumatic pain and Restaxil® for neuralgic pain. Furthermore, PharmaSGP also offers leading products against sexual weakness and vertigo symptoms. Since introducing the first product from the current product portfolio in 2012, PharmaSGP has successfully established its business model in other European countries, including Austria, Italy, Belgium, Spain and France. In September 2021, the product portfolio was expanded by the brands Baldriparan®, Formigran®, Spalt® and Kamol®, thus also strengthening or developing the indications pain and sleep disorder. The sales territory was expanded to include Switzerland and Eastern Europe.
In 2021, PharmaSGP generated revenues of € 65.3 million at an adjusted EBITDA margin of 29.7%.
In order to further expand its competitive position, PharmaSGP plans to increase the number of indications covered by PharmaSGP’s product offering, increase PharmaSGP’s European footprint, and accelerate its growth strategy especially by capitalizing on selected M&A opportunities.
15.06.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
PharmaSGP Holding SE
Lochhamer Schlag 21
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich
EQS News ID:
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