Fagron announces a 16% increase in turnover to 156.4 million euros

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Regulated information
Nazareth (Belgium)/Rotterdam (Netherlands), April 14, 2022 – 7:00 a.m. CET

Fagron announces a 16% increase in turnover to 156.4 million euros

Fagron, the world’s leading player in pharmaceutical preparation, today publishes its quarterly results for the period ending March 31, 2022.

Strong points

  • Strong revenue growth despite challenging operating environment
    • Revenue increased by 16.0% to €156.4 million (10.2% at constant exchange rates), with growth in all regions
    • Organic growth of 13.3% (7.6% at constant exchange rates)
  • Manage ongoing supply chain disruptions and risks
    • Ongoing pressure on supply chain due to COVID-related issues with limited direct impact from Ukraine crisis so far
    • Inventory management and profitability of key areas to maximize product availability with a centralized procurement team
  • Continued deployment of a disciplined acquisition strategy
    • The acquisition of Hiperscan in Germany and Curaphar in the Netherlands further strengthens its position in key markets
    • Acquisition of Letco and concurrent divestiture of 80% of the North American contract manufacturing division
    • Acquisition of Pharma-Pack in Belgium
  • New advances on environmental and social initiatives
    • 1,000 solar panels installed
    • Launch of the global Fagron female mentorship program
  • Consolidated reports on compounding services and high-end pharmaceuticals

Rafael Padilla, CEO of Fagron:

“We delivered strong results in the first quarter of 2022 driven by organic growth and M&A activity, even though we are in the midst of an unpredictable operating environment given the continued impact of COVID, the continued challenges of supply chain and rising inflation.

In line with our disciplined acquisition strategy, we completed three acquisitions in the first quarter of this year to consolidate our position in key European markets. We have also strengthened our position in North America with the acquisition of Letco, the integration of which is proceeding as planned. We remain committed to further consolidate the market and add capabilities to Fagron through rigorous assessment of market opportunities.

Supported by favorable underlying secular trends of increased personalization and a focus on global healthcare, we remain committed to our strategic priorities and are confident in our ability to achieve our medium-term objectives. , despite the current difficult environment.

Please open the link below for the press release:

Fagron announces a 16% increase in turnover to 156.4 million euros

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