Fagron : Turnover increase of 10.6%; REBITDA increased to €55.6 million

Regulated information Nazareth (Belgium)/Rotterdam (Netherlands), 5 August 2019
Turnover increase of 10.6%; REBITDA increased to €55.6 million
Acquisitions strengthen market position in Latin America and Europe
New sustainable credit facility of €375 million
S1-2019 Highlights1 - Financial
• Turnover increased to €255.4 million (+10.6%)
• REBITDA2 increased to €55.6 million (+6.4%)
• EBITDA increased to €54.2 million (+13.8%)
• Net profit3 increased to €26.8 million (+44.4%)
• Strong operational cash flow of €37.5 million
• Net financial debt/REBITDA ratio of 2.55 on 30 June 2019
Strategic - Operational
• Successful continuation of buy-and-build strategy with acquisitions in Brazil, Czech Republic and Mexico
• Start construction of new GMP repackaging facility in Poland
• Sterile GMP compounding facility in the Netherlands fully operational since July
• Promising start for Fagron Genomics with 2,200 DNA tests sold in Q2-19
• New sustainable credit facility of €375 million with improved terms
• Settlement in principle with US Department of Justice
Rafael Padilla, CEO of Fagron: 'We are very pleased with the results and progress made in the first semester of 2019. Not only did Fagron once again show good growth in turnover, but also the construction of the new facility in Poland and the investments in North America strengthen our foundation for further growth. We are therefore convinced that we are well-positioned to benefit from the substantial growth opportunities in the markets for personalised medicine.
The strong turnover growth was especially driven by the excellent performance in North America and the solid turnover development in Latin America. In addition to strong organic growth, we further strengthened our leading market positions in Brazil and the Czech Republic with four acquisitions and made a robust entrance in the Mexican market. Once again, these are important steps in the execution of our disciplined buy-and-build strategy in our core markets.
We are confident that we will realise a nice increase of turnover and profitability in the second semester of 2019 in comparison to the same period in 2018.

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Turnover increase of 10.6%; REBITDA increased to €55.6 million