Fagron realises turnover growth of 13.4%; REBITDA increases to EUR 117.0 million.

Rafael Padilla, CEO of Fagron: 'Fagron achieved very good results in 2019, with strong growth in both turnover and REBITDA.

Turnover increased by 13.4% to EUR 534.7 million, supported by a healthy organic growth and the contribution from a number of strategic acquisitions in 2019. REBITDA also showed a good development, increasing by 9.9% to EUR 117.0 million, while we continued to invest in the further development of our organization and activities.

In 2019 we took further important steps to strengthen our foundation. The acquisitions in our various geographical markets have strengthened both our product proposition and our positioning as the global market leader in niche markets. The establishment of Fagron Genomics and the successful launch of various genetic tests has added a promising branch to our activities.

In North America we successfully completed the integration of Humco. The resulting commercial synergies further reinforce Fagron's competitive position and contributed to the very strong performance of Brands and Essentials. The sterile compounding facilities in Wichita are on track to achieve the stated turnover target by 2022 at the latest. Due to a change in the services provided to certain large customers turnover growth in the fourth quarter was slightly lower, but with a higher profitability.

In Europe the sterile GMP-compounding facility in the Netherlands, which has been fully operational again since July, saw turnover growth level off somewhat in the fourth quarter due to the complex process to get commitment of new hospitals. Genomics showed a promising development with growth accelerating in the course of the year. Furthermore, we made a start on integrating Dr. Kulich Pharma, the company we acquired in the Czech Republic.

Over the past year we significantly strengthened our position in Latin America with several acquisitions. Following the acquisition of Cedrosa we now have access to the rapidly growing Mexican market, while the acquisition of Levviale, Apace and Ortofarma strengthened our leading position in Brazil. We started integrating these companies in the second half of the year. The Latin American activities also continued their strong organic performance.

With the successes we achieved in 2019 we have further strengthened our foundation and we look forward to reaping the continued benefits of this in 2020.'

Contact:

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