Villers-lès-Nancy,
PRESS RELEASE
up 25.70% to €44.34m
- Strong recovery in business since June:
- Like-for-like (excluding recent acquisitions), Q3 2020 revenue grew 11.65% to €39.39m.
- 9 months revenue: €122.27 million (+9.02%). Like-for-like, €114 million (+1.98%).
- Significant contributions from the latest acquisitions (
MALTA BELGIUM , ICT, SVEMU, I-MEDS, PANDALAB, ASCA INFORMATIQUE) in Q3 2020:- Positive impact of 14.05% with €4.95 million, including €3.10 million for ASCA INFORMATIQUE (integrated on
1 July 2020 ).
- Positive impact of 14.05% with €4.95 million, including €3.10 million for ASCA INFORMATIQUE (integrated on
- 2020 outlook: Group targets for annual growth and profitability maintained.
€m - IFRS 15 | 2020 | 2019 | Change |
Q1 | 39.00 | 38.15 | + 2.23 % |
Q2 | 38.93 | 38.73 | + 0.52 % |
Q3 (unaudited) | 44.34 | 35.28 | + 25.70 % |
9 month YTD | 122.27 | 112.16 | + 9.02 % |
For the 2020 third quarter,
For the first nine months, revenue was up 9.02% in relation to the same period in 2019 to €122.27 million. Like-for-like, revenue grew 1.98% to €114 million.
The strength of its business recovery plan and the high level of mobilisation on the part support and sales teams enabled the Group to meet the rebound in demand since June and maintain the sustained pace of pharmacy installations (postponed during the confinement of March). With several offerings particularly adapted to the specific challenges linked to the crisis (PACK COMMUNICANT, OFFITELECONSULT, PHARMAPROTECT…), the Group registered a strong order intake in Q3 for these solutions.
Operating highlights by Division at
·Revenue of the Pharmacy - Europe Solutions Division grew 23.88% (€33.49 million) in Q3 2020 and 4.67% (€90.20 million) at
As expected, the Pharmacy France Business Unit benefited from the rescheduling in Q3 of RentPharm deliveries initially planned for Q2 (finance leases) plus the positive impact from the acquisition of ASCA INFORMATIQUE that was integrated on 1 July.
The Pharmacy Italy Business Unit continued to develop its business by focusing on wholesalers-distributors while consolidating its business with pharmacies through the integration of SVEMU: +7.11% in the first nine months of 2020.
Confronted with a major crisis caused by the epidemic, the situation in
This Division accounts for 73.77% of Group revenue.
·The Solutions for Health and Social Care Facilities Division registered particularly strong growth: +62.86% (€6.56 million) in Q3 2020 and +44.92% (€19.06 million) for the first nine months.
Acquisitions of the last 12 months (
This Division contributed 15.58% to Group revenue, confirming the potential of its activities as Group growth drivers.
·The e-Health Solutions Division’s revenue remained stable in Q3 at €3.81 million
(-0.50%) and gaining marginally (+1.51%) over the first nine months to reach €11.86 million at
This Division was adversely affected notably by the tepid recovery in business both by the
This Division accounts for 9.70% of Group revenue.
·Revenue of the Fintech Division grew 24.92% to €0.47 million. For the first nine months, the Division’s revenue held its ground (+0.65%) at €1.16 million, recovering from the decrease in H1 2020
This Division accounts for 0.95% of Group revenue.
Significant events after
·Deployment of e-Health in the
Driven by the development of the Digital Healthcare Platform, Pharmagest Group announced the implementation of a new experiment, the “Interoperability Hub” in the
The technological solutions developed through this programme are destined to facilitate the flow of information among the different business line information systems of healthcare professionals in the private practice sector, healthcare establishments and regional coordinators in advance of its regional deployment.
This initiative strengthens Pharmagest Group’s position as an innovative industrial stakeholder in the service of health, capable of structuring and delivering technological solutions that are essential for the healthcare offering and its coordination across the office-based private practice and hospital pathways, as described in the French government healthcare plan (“Ma santé 2022”).
·
The 4th of October marked the end of the initiative to distribute masks and personal protection equipment for healthcare professionals by Santé Publique France, the
To support and aid healthcare professionals during this transition, La Coopérative WELCOOP, Pharmagest Group’s parent company, implemented an initiative of unprecedented scale for distributing several million IIR EN 14683:2019 type 3-ply surgical masks at cost to French pharmacies destined for all health care professionals within
This initiative, in which the pharmacist was given the central role, was supported by all La Coopérative WELCOOP’s subsidiaries that by joining forces were able to purchase millions of masks to be sold in pharmacies at cost.
The success of this initiative was managed and ensured by Pharmagest Group’s subsidiary, PANDALAB, specialised in secure and instant messaging solutions for healthcare professionals.
2020 outlook
After the very robust recovery in commercial activity in June, continuing growth momentum has set the stage for a strong rebound in revenue in the 2020 second half. In the current context, the Group is expecting to maintain the pace of growth reached at the end of September.
The Group furthermore intends to accelerate the deployment of new solutions to support all activities of the healthcare universe: pharmacies, senior homes, home-based nursing services, hospital-at-home programmes and also office-based private practitioners.
Finally, with a solid gross cash position, the Group is particularly well-positioned to pursue market opportunities that may arise in order to meet the challenges of tomorrow.
Based on its experience from the first lockdown period and in line with the Government’s goal of maintaining the level of the country’s economic activity,
Financial calendar:
- Publication of FY 2020 annual sales:
About
With more than 1,100 employees and “Citizens in the Service of Health and Well-Being”,
As a key contributor to the quality of healthcare and coordination between office-based private practice and hospitals,
Listed on Euronext Paris™ - Compartment B
Indices: CAC® SMALL and CAC® All-Tradable par inclusion
Eligible for the Long-Only Deferred Settlement Service (SRD)
ISIN: FR 0012882389 – Reuters: PHA.PA – Bloomberg: - PMGI FP
The Group is included in the Gaïa-Index 2019 comprised of socially responsible mid-caps and was recently included in the “European Rising Tech” label recognising the top-performing SMEs listed on the Euronext markets of
For all the latest news go to www.pharmagest.com
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CONTACTS
Analyst and Investor Relations:
Chief Administrative and Financial Officer: Jean-Yves SAMSON
Tel. +33 (0)3 83 15 90 67 – jean-yves.samson@lacooperativewelcoop.com
Media Relations:
FIN’EXTENSO – Isabelle APRILE
Tel. +33 (0)1 39 97 61 22 - i.aprile@finextenso.fr
Attachment
- PHARMAGEST_Q3 2020 revenue_PRESSRELEASE_20201118_
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