PharmaSGP continues dynamic business development with significant revenues
growth in Q1 2024
EQS-News: PharmaSGP Holding SE / Key word(s): Quarter Results/Preliminary
Results
PharmaSGP continues dynamic business development with significant revenues
growth in Q1 2024
14.05.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
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PharmaSGP continues dynamic business development with significant revenues
growth in Q1 2024
Gräfelfing, May 14, 2024 - German OTC pharmaceutical company PharmaSGP
Holding SE continued the positive business development of 2023 in the first
quarter of 2024 and achieved an increase in revenues of 25.6% to EUR30.1
million (prior-year quarter: EUR24.0 million) based on preliminary, unaudited
figures. Compared to the previous year, adjusted earnings before interest,
taxes, depreciation and amortization (adjusted EBITDA) rose from EUR7.0
million to EUR8.9 million in the first three months of 2024. The resulting
adjusted EBITDA margin increased quarter-on-quarter to 29.4% (prior-year
quarter: 29.2%).
CEO Natalie Weigand comments: 'After an outstanding year 2023 and
significantly faster growth than the market, we are very proud to be able to
continue this development in 2024. Accordingly, we have further strengthened
our position as a fast-growing OTC consumer health company in Europe in the
first three months of 2024 thanks to our well-proven platform model and
effective marketing strategies.'
CFO Michael Rudolf adds: 'The revenues figures for the first quarter of 2024
reflect in particular PharmaSGP's potential in foreign markets. As expected,
the adjusted EBITDA margin of 29.4% was slightly higher than in the
prior-year quarter. With the revenues and earnings margin achieved in the
first three months of 2024, we see ourselves well on track for another year
of profitable growth.'
In the current financial year 2024, revenues are expected to be in a range
between EUR107.0 million and EUR112.0 million. The Management Board expects
adjusted EBITDA to increase to between EUR35.0 million and EUR38.0 million. This
corresponds to an adjusted EBITDA margin of 32.7% to 33.9%.
PharmaSGP will publish its full statement for the first three months of 2024
on May 28, 2024.
OVERVIEW OF PRELIMINARY YEAR-ON-YEAR FIGURES
Consolidated figures (in EUR million) Q1 Q1
2024 2023
Revenues 30.1 24.0 +25.6-
%
Adjusted EBITDA 8.9 7.0 +26.5-
%
Unadjusted EBITDA 8.7 7.0 +23.5-
%
Adjusted EBITDA margin 29.4% 29.2%
Unadjusted EBITDA margin 28.7% 29.2%
Revenues by region (in EUR million) Q1 Q1
2024 2023
Germany 20.8 17.9 +16.1-
%
Italy 5.3 2.9 +80.2-
%
Austria 3.2 2.1 +49.7-
%
Other European countries 0.9 1.0 -15.5-
%
Revenues share by region Q1 Q1
2024 2023
Germany 69% 75%
Italy 18% 12%
Austria 11% 9%
Other European countries 2% 4%
Revenues by product category (in EUR Q1 Q1
million) 2024 2023
Health Brands 29.0 23.2 +24.8-
%
Beauty Brands 1.1 0.8 +42.0-
%
CONTACT
cometis AG
Claudius Krause
Phone: +49-611-20585528
Email: ir@pharmasgp.com
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 2023, PharmaSGP generated revenues of EUR101.1 million at an adjusted
EBITDA margin of 33.7%.
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.
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Language: English
Company: PharmaSGP Holding SE
Lochhamer Schlag 1
82166 Gräfelfing
Germany
E-mail: ir@pharmasgp.com
Internet: https://pharmasgp.com
ISIN: DE000A2P4LJ5
WKN: A2P4LJ
Listed: Regulated Market in Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Munich, Tradegate Exchange
EQS News ID: 1901587
End of News EQS News Service
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1901587 14.05.2024 CET/CEST