Medios AG / DE000A1MMCC8
07.05.2024 - 07:31:15Medios AG records further revenue growth in the first quarter of 2024 and confirms full-year guidance
| Medios AG / Key word(s): Quarterly / Interim Statement/Quarter Results 07.05.2024 / 07:31 CET/CEST The issuer is solely responsible for the content of this announcement. Press release Revenue increases by 5.8% to €456.2 million in the first quarter Cash flow from operating activities increases to €43.4 million Closing of the Ceban acquisition planned for May 2024 Guidance 2024 confirmed: Significant increase in revenue and margin expected Berlin, May 7, 2024 – Medios AG ("Medios"), the leading provider of Specialty Pharma solutions in Germany, confirms its guidance for the 2024 financial year after a solid first quarter. Revenue increased by 5.8% year-on-year to €456.2 million in the period from January to March 2024 (previous year: €431.2 million). At €15.1 million (previous year: €15.0 million), EBITDA pre1 reached the level of the same quarter of the previous year. As a result, the EBITDA pre1 margin of 3.3% (previous year: 3.5%) was slightly lower than in the same period of the previous year. Cash flow from operating activities improved significantly in the first quarter of 2024 to €43.4 million (previous year: €–25.3 million). Heterogeneous sales and earnings development in the operating segments The Pharmaceutical Supply segment achieved an increase in revenue of 8.9% to €401.0 million in the first quarter of 2024 (previous year: €368.1 million). The segment’s EBITDA pre1 increased by 9.0% to €11.0 million (previous year: €10.1 million). The Patient-Specific Therapies segment generated revenue of €55.1 million in the first quarter of 2024 after €62.9 million in the previous year. Around €3.5 million of this decline was attributable to the sale of Kölsche Blister GmbH in June 2023. In addition, regulatory price adjustments in some compounding areas still had a negative impact on the earnings development. As a result, the segment’s EBITDA pre1 decreased by 9.4% to €5.9 million (previous year: €6.6 million). Matthias Gaertner, Chief Executive Officer (CEO) of Medios AG: “In the first quarter of 2024, we once again achieved an increase in revenue and significantly increased our cash flow – despite the focus on the acquisition of Ceban, which we expect to successfully complete shortly. With an even larger Medios Group, which will also operate internationally for the first time, we expect to continue our successful growth trajectory for the rest of the 2024 financial year." In the first quarter of 2024, Medios announced the acquisition of Ceban Pharmaceuticals B.V. ("Ceban"). Ceban is the Dutch market leader in pharmaceutical compounding services and is also active in Belgium and Spain. In 2023, Ceban generated revenue of approximately €160 million and an adjusted EBITDA of approximately €29 million, which corresponds to an adjusted EBITDA margin of around 18%. The acquisition represents an important step in Medios' growth strategy, which aims to build the leading European Specialty Pharma platform. Positive outlook Medios confirms the guidance for the 2024 financial year first announced on March 18, 2024. The company expects revenue of €1.9 billion to €2.1 billion and EBITDA pre1 of €82 million to €91 million. This expectation is based on the assumption that the acquisition of Ceban Pharmaceuticals B.V. will be completed shortly and fully consolidated from the beginning of May 2024. In the medium term, the market share in the area of patient-specific therapies in particular is to be further expanded, thereby increasing the profitability of the entire Medios Group. Accordingly, Medios is aiming for consolidated revenue of more than €2bn and an EBITDA pre1 margin at least in the mid-single-digit range in the medium term.
1 EBITDA is defined as consolidated earnings before interest, taxes, depreciation and amortization. EBITDA pre is adjusted for special charges for stock options and expenses for M&A activities as well as for performance-related payments for the acquisition of compounding volumes and, from 2024, for expenses for the introduction of an ERP system. 07.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Language: | English |
| Company: | Medios AG |
| Heidestraße 9 | |
| 10557 Berlin | |
| Germany | |
| Phone: | +49 30 232 566 - 800 |
| Fax: | +49 30 232 566 - 801 |
| E-mail: | ir@medios.ag |
| Internet: | www.medios.ag |
| ISIN: | DE000A1MMCC8 |
| WKN: | A1MMCC |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1896957 |
| End of News | EQS News Service |
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