Turnover Fagron increases 5.4% to € 142.4 million

Regulated information
Nazareth (Belgium)/Rotterdam (The Netherlands), 13 October 2021 – 7.00 am CET

Turnover Fagron increases 5.4% to € 142.4 million

Highlights of Q3-2021

• Turnover increases 5.4% to € 142.4 million (+4.6% at constant exchange rates)
• Strong turnover growth in Latin and North America
• Turnover declines in EMEA due to a combination of factors
• Fagron expects for FY 2021 turnover growth with a REBITDA on the lower end of the bandwidth of between € 118 million and € 124 million
• Fagron will organize Capital Markets Day in Q1-2022
  
  

Rafael Padilla, CEO of Fagron: “Fagron’s 5.4% turnover growth in the third quarter of 2021 is the result of good developments in both Latin and North America and a decline of the turnover in EMEA due to a combination of factors.

The turnover of EMEA declined 7.8% this quarter. At Compounding Services, the turnover decline was mainly the result of the registration of non-sterile compoundings by third parties in 2020. The decline in the turnover at Brands and Essentials was caused by a combination of the fading demand for COVID-19 related products, slow recovery of elective care and doctor visits, pressure on the supply chain because of the Corona pandemic and slight delay in the commissioning of the repackaging facility in Poland.

Latin America showed turnover growth of 13.3%. Our competitive position continues to improve despite the volatile market environment. With our focus on prevention, we are well-positioned in this region to benefit from the increased demand for lifestyle enhancement products.

North America saw continued strong turnover growth of 20.7% in the third quarter, mainly because of good results at Compounding Services. The expansion of the product range and the conclusion of new contracts at Fagron Sterile Services are bearing fruit and we are on track to realize the turnover target.

The ongoing global vaccination programs will allow further normalization of the markets in which we operate. However, the pace at which this will happen also depends on the development of the Corona pandemic and the consequences thereof for Fagron. With our focus areas we are well positioned to benefit from increased emphasis on prevention and a healthy lifestyle. Furthermore, we remain actively looking at acquisition opportunities, in EMEA and North America in particular.

Based on the above, we expect to realize turnover growth with a REBITDA on the lower end of the bandwidth of between € 118 million and € 124 million for the full year 2021.

During the Capital Markets Day which we are organizing in the first quarter of 2022 we will present a strategic update and medium-term objectives for both the three regions and for Fagron as a whole.”

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Turnover Fagron increases 5.4% to € 142.4 million