DGAP-News: Medios AG / Key word(s): Annual Results
18.04.2019 / 09:17
Medios AG publishes Annual Report 2018
Berlin, 18 April 2019 – Medios AG (‘Medios’), one of the leading Specialty Pharma companies in Germany, has published its Annual Report 2018. According to the audited IFRS financial statements, group sales in the period from January to December 2018 increased year on year by 29 per cent to EUR 327.8 million (previous year EUR 253.6 million). Group earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for extraordinary expenses*, rose by 37 per cent to EUR 11.7 million (previous year EUR 8.5 million). Group earnings before taxes (EBT), adjusted for extraordinary expenses*, climbed by 38 per cent to EUR 11.0 million (previous year EUR 8.0 million). Thereby, the guidance of the Management Board for the financial year 2018 was met.
The Drug Supply business unit generated sales of EUR 288.9 million, an increase of 37 per cent (previous year EUR 210.6 million). This was in particular due to the ongoing strong demand for Specialty Pharma medicines. Adjusted EBITDA* went up by 23 per cent to EUR 9.4 million (previous year EUR 7.6 million). Adjusted EBT* climbed by 23 per cent to EUR 9.2 million (previous year EUR 7.4 million).
The Patient-specific Therapies business unit registered a planned decline in sales of 9.7 per cent to EUR 38.8 million (previous year EUR 43.0 million) due to the strategic diversification of the indication areas through new products. Nonetheless, earnings increased disproportionately: adjusted EBITDA* was up by 76 per cent to EUR 3.3 million (previous year EUR 1.9 million) and adjusted EBT* climbed by 74 per cent to EUR 2.8 million (previous year EUR 1.6 million). Thereby, the adjusted EBT* margin rose from 3.8 to 7.3 per cent.
The internal Services business unit, which only provides services to the other companies in the Medios Group, reported a negative earnings contribution, as anticipated. This was in particular due to services which were rendered in the areas of information technology, human resources and finances to implement the growth strategy and cannot be charged in full to the subsidiaries.
Manfred Schneider, CEO of Medios AG: ‘By expanding our partner network, extending our product range and specializing in additional indication areas, we laid the foundations for further growth in 2018. The establishment of our new Drug Safety business unit and positioning of our new ‘Medios Apotheke’ brand will also make a contribution.’
Matthias Gärtner, CFO of Medios AG: ‘In 2018, we achieved significant growth in both sales and earnings in our Drug Supply business unit. Thanks to the diversification into additional indication areas, we have virtually doubled our operating profit margin in the Patient-specific Therapies business unit. In 2019, we also want to grow sales in this business unit again. We are very confident that we will be able to continue the dynamic growth course of the Medios Group in the current financial year and further improve profitability.’
As reported in February, the Management Board is expecting 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 for the financial year 2019. This represents a sales growth of 22 to 25 per cent and a further increase in adjusted operating earnings* with improved earnings margins. As far as currently foreseeable, the guidance includes both the effects of the planned ‘Act for more Drug Safety’ on the course of Medios’ business as well as additional investments in the Drug Safety business unit and the establishment of the ‘Medios Apotheke’ brand.
The Annual Report 2018 of Medios AG is available for download from the website http://medios.ag/en/investor-relations/financial-reports.
* EBITDA is adjusted for extraordinary expenses for a) stock options totalling EUR 2.59 million (non-cash) from the financial years 2017 and 2018 and b) start-up expenses of EUR 0.64 million for the laboratories acquired in September 2017. EBT is adjusted for extraordinary expenses for a) and b), plus amortization of EUR 0.35 million (non-cash) on the customer base following the acquisition of operating units of BerlinApotheke Schneider & Oleski oHG.
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).
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