DGAP-News: Medios AG / Key word(s): Change in Forecast
23.09.2019 / 11:15
Medios AG raises sales forecast for 2019 financial year significantly to more than half a billion euro
Berlin, 23 September 2019 – Medios AG (‘Medios’), one of the leading Specialty Pharma companies in Germany, raises its forecasts for the 2019 financial year. Accordingly, the Management Board is now expecting, on IFRS basis, sales of EUR 500 to 510 million (previous year EUR 328 million), group earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for extraordinary expenses*, of EUR 17 to 18 million (previous year EUR 11.7 million) as well as group earnings before taxes (EBT), adjusted for extraordinary expenses*, of EUR 15 to 16 million (previous year EUR 11.0 million). This corresponds to an increase in sales of 52.5 to 55.6 per cent and an increase in earnings of 45.3 to 53.8 and 36.4 to 45.5 per cent, respectively, over the previous year. As far as currently foreseeable, the forecasts take into account legal changes and additional growth investments.
The reasons for the raised forecasts are increasingly positive impulses from the increased investments in the growth of the Medios Group. Since the beginning of the second half of 2019, these have had an even greater impact on the sales and earnings development of Medios than the Management Board had expected.
In its latest forecast, the Management Board had assumed that it would at least reach the upper end of the forecasted sales target range of EUR 430 to 440 million. It had also expected adjusted EBITDA* of EUR 16.5 to 17.5 million and adjusted EBT* of EUR 14.5 to 15.5 million.
Manfred Schneider, CEO of Medios AG: ‘Medios is investing in Specialty Pharma solutions that guarantee the best possible patient care and are economically sustainable. This is also a major reason for our dynamic growth. The Specialty Pharma market is becoming increasingly important for patients due to new approvals, which often have to be applied individually. This also increases the demand for innovative solutions for the mostly high-priced therapies. We have positioned ourselves extremely well in this environment, both by preparing patient-specific infusions and by enabling the specialised pharmacies to be supplied within the framework of partnerships.’
Matthias Gärtner, CFO of Medios AG: ‘The healthcare market in Germany is going through a consolidation phase. Patient-specific solutions are becoming increasingly important compared to traditional therapies. We can benefit disproportionately from this development by investing more in our sales growth and accepting somewhat weaker profit margins in the short term. In the medium term, however, these should rise again. Our growth investments will soon enable us to become the leading provider of Specialty Pharma solutions in Germany.’
* 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.
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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