Medios AG / Key word(s): Quarter Results/Change in Forecast
23-Apr-2019 / 13:23 CET/CEST
Medios AG grows stronger than expected in first quarter and raises forecasts for financial year 2019
Berlin, 23 April 2019 – Medios AG (‘Medios’) is raising its forecasts for the financial year 2019. The Management Board now expects group sales of EUR 430 to 440 million, group earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for extraordinary expenses*, of EUR 16.5 to 17.5 million and group earnings before taxes (EBT), adjusted for extraordinary expenses*, of EUR 14.5 to 15.5 million. Previously, the Management Board had expected group sales of EUR 400 to 410 million, adjusted EBITDA* of EUR 16 to 17 million, and adjusted EBT* of EUR 14 to 15 million.
The reason for the raised forecast is the increase in sales and earnings in the first fiscal quarter of 2019, which was more pronounced than the Management Board had expected. According to IFRS, group sales for the period from January to March 2019 increased by 56 per cent year-on-year to EUR 107.0 million (previous year EUR 68.6 million). Adjusted EBITDA* rose by 38 per cent to EUR 3.6 million (previous year EUR 2.6 million). Adjusted EBT* climbed by 33 per cent to EUR 3.2 million (previous year EUR 2.4 million).
As far as currently foreseeable, the guidance takes into account both the effects of the planned ‘Act for more Drug Safety’ on the business development of Medios as well as additional investments in the Drug Safety business unit and the establishment of the ‘Medios Apotheke’ brand. The new earnings forecasts also include additional investments in the digitalization, amongst others the significant increase in the headcount of the Medios Digital subsidiary.
Matthias Gärtner, CFO Medios AG
* EBITDA and EBT are each adjusted for extraordinary expenses for stock options of EUR 0.6 million (non-cash). EBT are also adjusted for extraordinary expenses for amortization of EUR 0.2 million (non-cash) on the customer base following the acquisition of operating units of BerlinApotheke Schneider & Oleski oHG.
Information and Explanation of the Issuer to this News:
About Medios AG
Medios AG is Germany’s first publicly listed Specialty Pharma company. The share (WKN: A1MMCC, ISIN: DE000A1MMCC8) is listed in the Regulated Market of the Frankfurt Stock Exchange (General Standard).
Cautionary note regarding forward-looking statements/No duty to update
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|EQS News ID:||802335|
|End of Announcement||DGAP News Service|