DGAP-News: Medios AG / Key word(s): Quarter Results/Change in Forecast
23.04.2019 / 13:52
Medios AG raises forecasts for financial year 2019 after particularly successful first quarter
Berlin, 23 April 2019 – Medios AG (‘Medios’), one of the leading Specialty Pharma companies in Germany, is raising its forecasts for the financial year 2019 after a particularly successful first quarter. 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). Group earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for extraordinary expenses*, rose by 38 per cent to EUR 3.6 million (previous year EUR 2.6 million). Group earnings before taxes (EBT), adjusted for extraordinary expenses*, climbed by 33 per cent to EUR 3.2 million (previous year EUR 2.4 million). Thus, the key figures developed better than the Management Board had expected.
For the 2019 financial year, the Management Board therefore now expects group sales of EUR 430 to 440 million, adjusted EBITDA* of EUR 16.5 to 17.5 million and adjusted EBT* of EUR 14.5 to 15.5 million. This represents a sales growth of 31 and 34 per cent as well as a further increase in adjusted operating earnings*. 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.
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 of Medios AG: ‘In the first three months of 2019, we surprisingly significantly increased the number of our partner pharmacies by a fifth from around 150 to roughly 180. This enabled us to increase sales and earnings even more strongly than in the already very strong prior-year quarter. We therefore remain very confident that we will continue the dynamic growth course of Medios Group in the current financial year and further improve profitability despite additional investments in digitalization.’
Manfred Schneider, CEO of Medios AG: ‘In the first quarter of 2019, we achieved two milestones with the positioning of our new brand ‘Medios Apotheke’ and the establishment of our new business unit Drug Safety. Together with the further expansion of our partner network, the extension of our product range and the specialization in additional indication areas, these milestones will contribute significantly to the growth of Medios Group.
* 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.
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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