Medios AG with record year 2019 – Optimistic outlook for 2020 despite corona pandemic

DGAP-News: Medios AG / Key word(s): Annual Results/Forecast
08.04.2020 / 07:49
The issuer is solely responsible for the content of this announcement.

Corporate News

Medios AG with record year 2019 – Optimistic outlook for 2020 despite corona pandemic

  • Specialty Pharma company publishes Annual Report 2019
  • Significant increase in group sales to EUR 517 million (+ 58%) and adjusted EBT* to EUR 16.2 million (+ 48%)
  • Management Board expects sustained growth for 2020 with group sales of around EUR 610 to 670 million and adjusted EBT* of around EUR 17.5 to 20.5 million

Berlin, 8 April 2020 – Medios AG (“Medios”), one of the leading Specialty Pharma companies in Germany, has published its Annual Report 2019. According to the audited IFRS financial statements, group sales in the period from January to December 2019 increased by 57.6% year-on-year to EUR 516.8 million (previous year EUR 327.8 million). Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for extraordinary expenses*, rose by 51.4% to EUR 17.7 million (previous year EUR 11.7 million). Consolidated earnings before taxes (EBT), adjusted for extraordinary expenses*, climbed 47.7% to EUR 16.2 million (previous year EUR 11.0 million). The audited key figures thus correspond almost exactly to the preliminary annual figures published in February. Accordingly, the forecast for the 2019 financial year, which had been raised significantly in September, was slightly exceeded. For the 2020 financial year, the Management Board expects continued growth despite the corona pandemic.

Both operating segments contributed to the strong growth
The Pharmaceutical Supply business unit achieved sales of EUR 466 million in the 2019 financial year, an increase of 61% (previous year EUR 289 million). The main reasons for this were the intensification of business relations with existing partner pharmacies, the expansion of the existing partner network and the extension of the product range. Adjusted EBITDA* increased by 26% to EUR 11.7 million (previous year EUR 9.3 million). Adjusted EBT* climbed by 22% to EUR 11.2 million (previous year EUR 9.2 million).

The Patient-specific Therapies business unit achieved sales of EUR 50.4 million in the 2019 financial year, an increase of 30% (previous year EUR 38.8 million). This is mainly due to the significant increase in individualized productions and the further diversification of the indication areas. Adjusted EBITDA* rose by 88% to EUR 6.2 million (previous year EUR 3.3 million). Adjusted EBT* climbed 93% to EUR 5.4 million (previous year EUR 2.8 million). The adjusted EBT* margin was thus 10.7%, a significant increase of 3.4 percentage points (previous year 7.3%).

The internal Services business unit, which mainly provides services for the group companies of the Medios Group, recorded sales of EUR 0.3 million (previous year EUR 0.1 million) and an adjusted EBT* of EUR -0.4 million.

Matthias Gärtner, CFO of Medios AG: “2019 was the most successful financial year in our company history. We benefited in particular from the increasing number of new individualized therapies in various indication areas. For the 2020 financial year, we expect continued growth. It remains our goal to strengthen Medios’ position as one of the leading competence partners for Specialty Pharma solutions and thus to further increase Medios’ attractiveness especially for partner pharmacies.”

The growth strategy of Medios comprises on the one hand the expansion of the customer base and the partner network with specialized pharmacies in Germany. On the other hand, the product range is to be increased and extended to other indication areas. Further strategic focuses are the use of existing capacities and the expansion of existing production. For example, Medios plans to increase margins through economies of scale and to further increase the number of patient-specific therapies manufactured.

Optimistic outlook for 2020 financial year
As a Specialty Pharma company, Medios has a business model that is relatively independent of economic cycles. Business development has so far not been significantly affected by the corona pandemic. Nevertheless, it is currently impossible to estimate whether the spread of the corona virus will have a larger impact on business development in the future. As a result of these special conditions, the forecast for the 2020 financial year includes wider ranges: Accordingly, Medios expects – including the acquisition of Kölsche Blister GmbH in March 2020 – group sales of around EUR 610 to 670 million, an adjusted EBITDA* of around EUR 19.5 to 22.5 million and an adjusted EBT* of around EUR 17.5 to 20.5 million.

The 2019 Annual Report of Medios AG is available for download on the website http://medios.ag/en/investor-relations/financial-reports.

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* EBITDA and EBT are each adjusted proportionately for extraordinary expenses for stock options in the amount of EUR 1.37 million (non-cash) for the 2019 financial year. EBT are also adjusted proportionately for extraordinary expenses for amortization of EUR 0.61 million (non-cash) on the customer base as a result of the acquisition of parts of MediosApotheke Anike Oleski e. Kfr. in the 2019 financial year.

About Medios AG
Medios AG is one of the leading Specialty Pharma companies in Germany. As a specialist for the provision of Specialty Pharma drugs to patients, GMP-certified provider of patient-specific therapies and innovative analytical methods, Medios covers substantial elements of the supply chain in this field and follows the highest international quality standards. Usually, Specialty Pharma drugs are high-priced medicines for rare and/or chronic diseases. Patient-specific therapies are, for example, infusions that are compiled and produced on the basis of individual diseases and parameters like body weight and surface. In the field of drug safety, NIR spectroscopic analysis methods (NIR: Near infrared) are used to distinguish marketable finished drugs from drug counterfeits. It is Medios’ aim to provide integrated solutions along the value chain to partners and clients, thereby ensuring an optimal pharmaceutical care for patients.

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).

Contact
Kirchhoff Consult AG
Nikolaus Hammerschmidt
Borselstraße 20
22765 Hamburg
Germany
Phone: +49 40 60918618
Fax: +49 40 60918660
E-mail: nikolaus.hammerschmidt@kirchhoff.de
www.kirchhoff.de

Disclaimer
This notification contains forward-looking statements that are subject to certain risks and uncertainties. Future results may significantly deviate from currently expected results, specifically due to various risk factors and uncertainties such as changes in business, economic, and competitive circumstances, exchange rate fluctuations, uncertainties about legal disputes or investigations, and the availability of financial resources. Medios AG assumes no responsibility whatsoever for updating the forward-looking statements contained in this notification.


08.04.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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