DGAP-News: Medios AG / Key word(s): Half Year Results
04.09.2019 / 09:00
Medios AG publishes half-year report 2019
Berlin, 4 September 2019 – Medios AG (‘Medios’), one of the leading Specialty Pharma companies in Germany, has published its half-year financial report 2019. According to the IFRS financial statements, group sales in the period from January to June 2019 increased by 57.9 per cent year-on-year to EUR 228 million (previous year EUR 145 million). Group earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for extraordinary expenses*, rose by 52.9 per cent to EUR 7.71 million (previous year EUR 5.04 million). Group earnings before taxes (EBT), adjusted for extraordinary expenses*, climbed by 45.0 per cent to EUR 6.85 million (previous year EUR 4.72 million).
The main growth driver was the Drug Supply business segment. Its sales increased by 59.0 per cent to EUR 215 million (previous year EUR 135 million), in particular due to the continued high demand for specialty pharmaceuticals. Adjusted EBITDA* rose by 16.6 per cent to EUR 5.36 million (previous year EUR 4.60 million). Adjusted EBT* climbed by 13.3 per cent to EUR 5.08 million (previous year EUR 4.49 million).
The Patient-Specific Therapies business segment also continued to grow. Sales increased by 9.6 per cent to EUR 28.7 million (previous year EUR 26.2 million). Adjusted EBITDA* rose by 177 per cent to EUR 2.80 million (previous year EUR 1.01 million), and adjusted EBT* climbed by 250.5 per cent to EUR 2.33 million (previous year EUR 0.93 million). The adjusted EBT* margin thus increased significantly from 3.5 to 8.1 per cent.
The Services business segment, which mainly provides internal services for the Medios Group, generated sales of EUR 2.03 million (previous year EUR 1.23 million). Adjusted earnings improved as a result of the increasingly expense-based passing-on of internal services to the subsidiaries of the Medios Group. Adjusted EBITDA* amounted to EUR -0.44 million (previous year EUR -0.54 million) and adjusted EBT* to EUR -0.55 million (previous year EUR -0.59 million).
Matthias Gärtner, CFO of Medios AG: ‘The continued high demand for specialty pharmaceuticals has clearly driven our dynamic growth also in the first half of 2019. At the same time, we were able to more than double the adjusted EBT margin in the Patient-Specific Therapies business segment. We therefore remain very confident that we will again improve profitability for the full year.’
Manfred Schneider, CEO of Medios AG: ‘In the second half of 2019, we intend above all to further increase awareness of our new ‘MediosApotheke’ brand and further expand our new Drug Safety business unit. Thanks to our increased investments in digitalization, we can also benefit from current developments such as the e-prescription.’
Medios reaffirms its forecasts for the 2019 financial year. Accordingly, the Management Board expects to reach at least the upper end of the forecasted sales target range of EUR 430 to 440 million. It also expects adjusted EBITDA* of EUR 16.5 to 17.5 million and adjusted EBT* of EUR 14.5 to 15.5 million. As far as currently foreseeable, the forecasts take into account legal changes and additional growth investments.
The half-year financial report 2019 of Medios AG is available for download on the website https://medios.ag/en/investor-relations/financial-reports.
* EBITDA and EBT are each adjusted proportionately for extraordinary expenses for stock options in the amount of EUR 1.28 million (non-cash) for the 2019 financial year. EBT are also adjusted proportionately for extraordinary expenses for amortization of EUR 0.60 million (non-cash) on the customer base as a result of the acquisition of parts of BerlinApotheke Schneider & Oleski oHG in the 2019 financial year.
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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