DGAP-News: PharmaSGP Holding SE / Key word(s): Preliminary Results/Half Year Results
PharmaSGP reports record revenues (+59%) and record earnings (+86%) in the first half of 2022
Gräfelfing, 1 September 2022 – In the first half of 2022, German OTC pharmaceutical company PharmaSGP Holding SE continued its dynamic performance of the previous quarters, achieving half-year revenues of € 42.0 million based on preliminary, unaudited results. This corresponds to growth of 59% (previous year: € 26.4 million). The highest quarterly revenues in the company’s history, € 21.4 million in the second quarter, made a significant contribution to this result. Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) for the first six months of 2022 amounted to € 12.1 million, representing a significant year-on-year increase of 86%. The adjusted EBITDA margin also rose year-on-year to 28.8%, as expected (previous year: 24.6%).
CEO Natalie Weigand comments: “The significant jump in year-on-year growth in the first half of 2022 is attributable to the consistent implementation of our marketing strategy, both organically and non-organically. Driven especially by an adjusted EBITDA margin of 33% in the second quarter, we further improved our overall profitability, which we also see as a clear reflection of the success of our platform strategy. This is because the combination of rising profitability and strong growth impressively demonstrate that GlaxoSmithKline’s OTC brands have been integrated smoothly and we can add significant value for our investors with this strategy.”
CFO Michael Rudolph adds: “We aim to continue on this successful track and at mid-year we concluded a long-term financing with four banking partners who fully support our M&A strategy. With our profitable business model and backed by a very high cash conversion rate of over 85%, we now have additional financing potential with a volume of up to 75 million Euro. This enables us to strengthen our unique European platform with further acquisitions and creates additional scope for our growth plans.”
Given this very strong performance in the first half of the year, the Management Board confirms the guidance for the current 2022 financial year.
PharmaSGP will publish its full report for the first quarter of 2022 on 15 September 2022. In addition, a webcast for interested investors will be held on the same day. The dial-up details for this will be sent out soon.
OVERVIEW OF PRELIMINARY YEAR-ON-YEAR FIGURES
ABOUT PHARMASGP HOLDING SE
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.
01.09.2022 CET/CEST 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
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