Clinigen : PDF (227.28KB)

12 January 2022

Half Year Trading Update

Clinigen Group plc (AIM: CLIN, 'Clinigen' or 'the Group'), the global pharmaceutical Services and Products company, today provides an unaudited trading update for the six months ended 31 December 2021.

Clinigen reiterates guidance as stated in the Scheme Document sent to shareholders on 20th December 2021; namely that the Group expects FY2022 EBITDA growth of between 5% and 10%. As usual, the Group expects to see a second half weighting to the full year numbers. Leverage1 on 31 December 2021 is expected to be 2.5x, meaningfully below the Group's temporary banking covenant of 3.5x.

Shaun Chilton, Group Chief Executive Officer of Clinigen, said:

"During the first half of the year we have seen a solid performance across both the Services and Products divisions. We remain mindful of the continued prevalence of the COVID-19 Omicron variant, which has the potential to impact our principal markets. However, we continue to perform well on those elements within our control and remain focused on building the lifecycle platform to service the needs of pharma companies and healthcare professionals around the globe."

Notes

• Bank covenant leverage is calculated by dividing adjusted EBITDA of the Group for the last 12 months by net debt at the period end, excluding the impact of IFRS 16. Adjusted EBITDA excludes the EBITDA from businesses disposed of during the last 12 months.
• • Ends -

For further information, please contact:
Clinigen Group plc	[phone]
Shaun Chilton, Chief Executive Officer	[e-mail]
Richard Paling, Interim Chief Financial Officer
Rob Fox, VP Investor Relations and Corporate Development
Numis Securities Limited - Nominated Adviser & Joint Broker	Tel: [phone]
James Black / Garry Levin / Freddie Barnfield	[e-mail]

RBC Capital Markets - Joint Broker	Tel: [phone]
Marcus Jackson / Elliot Thomas
Consilium Strategic Communications	Tel: [phone]
Mary-Jane Elliott / Matthew Cole / Jessica Hodgson	[e-mail]

About Clinigen Group

Clinigen Group plc (AIM: CLIN) is a global, specialist pharmaceutical services and products platform focused on providing ethical access to medicines. Its mission is to deliver the right medicine to the right patient at the right time. The Group operates from sites in North America, Europe, Africa and the Asia Pacific.

Clinigen has more than 1,000 employees across five continents in 14 countries, with supply and distribution hubs and operational centres of excellence in key long-term growth regions. The Group works with 34 of the top 50 pharmaceutical companies; interacting with over 5,000 hospitals across more than 115 countries.

For more information on Clinigen, please visit http://www.clinigen.com

Cautionary statement

This announcement contains certain projections and other forward-looking statements with respect to the financial condition, results of operations, businesses and prospects of Clinigen Group plc. These statements are based on current expectations and involve risk and uncertainty because they relate to events and depend upon circumstances that may or may not occur in the future. There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements. Any of the assumptions underlying these forward-looking statements could prove inaccurate or incorrect and therefore any results contemplated in the forward-looking statements may not actually be achieved. Recipients are cautioned not to place undue reliance on any forward-looking statements contained herein. Except as required by law, Clinigen undertakes no obligation to update or revise (publicly or otherwise) any forward-looking statement, whether as a result of new information, future events or other circumstances.

The information contained in this statement has not been audited and may be subject to further review.