Regulated information
Nazareth (Belgium)/Rotterdam (The Netherlands), 12 April 2019 - 7am CET

Fagron achieved turnover growth of 13.1%

Key points

  • Turnover increased by 13.1% to € 123.4 million
  • Organic turnover growth of 7.1% CER[1], mainly driven by strong growth in North and South America
  • Brands realized organic turnover growth of 14.8% CER
  • Further growth of turnover and profitability expected in 2019

Rafael Padilla, CEO of Fagron: "Fagron had an outstanding start of 2019, with turnover growth of 13.1% and organic turnover growth of 7.1%. The North America and South America segments continued to perform very well, while the European segment's turnover development, as previously announced, is still being influenced by the temporarily reduction of the capacity at one of our compounding facilities in the Netherlands. The compounding activities at this facility were restarted in early April and we expect the facility to be fully operational during the second half of 2019. In contrast, Brands had a strong development in Europe, partly driven by the successful start of Fagron Genomics.

In North America, there was double-digit turnover growth in all activities. In addition to strong turnover growth at the Wichita compounding facilities, good progress was also made in the continued expansion of the product range and the automation of the manufacturing process. The sterile compounding facilities in Wichita are on track to achieve the previously stated turnover target.

In South America, Fagron managed to take advantage of the continued positive market developments by ensuring good product availability and further continued to differentiate itself through the development and introduction of innovative Brands.

With our healthy organic growth and disciplined acquisition strategy, we will continue to expand our leading market positions in Europe, North America and South America over the coming years. We see ample opportunities in the market for personalized medicine, and I am confident that our strategic focus puts us in a strong position to seize those opportunities. This is supported by positive developments in the first months of 2019, and we expect to continue to grow further in turnover and profitability in 2019."

[1] CER = Constant Exchange Rates.

Please open the link below for the press release:

Fagron continued strong turnover growth in first quarter 2019


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Source: Fagron NV via Globenewswire