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Fagron realises turnover of € 103.4 million

12 October 2016

Regulated information Waregem (Belgium) / Rotterdam (The Netherlands), 12 October 2016

Fagron realises turnover of € 103.4 million Developments new facility in Wichita in line with expectations

During the third quarter of 2016, Fagron Group realised a consolidated turnover from continued operations of € 103.4 million, a decrease of 1.1% (-2.7% at constant exchange rates) compared to the third quarter of 2015. In the first nine months of 2016, the consolidated turnover from continued operations decreased by 2.5% (+0.6% at constant exchange rates) to € 313.6 million. Organic turnover from continued operations showed a decline of 5.2% (-2.2% at constant exchange rates).

Turnover (x € 1,000) Q3 2016 Q3 2015 Total growth Total growth CER Org. growth Org. growth CER
Fagron 101,862 102,719 -0.8% -2.5% -0.8% -2.5%
HL Technology 1,538 1,818 -15.4% -14.7% -15.4% -14.7%
Fagron Group (continued operations) 103,401 104,537 -1.1% -2.7% -1.1% -2.7%
Discontinued operations -1 9,001 -100% -99.9% -100% -99.9%
Total 103,400 113,538 -8.9% -10.4% -8.9% -10.4%
Turnover (x € 1,000) 9M 2016 9M 2015 Total growth Total growth CER Org. growth Org. growth CER
Fagron 307,540 314,216 -2.1% 1.0% -4.9% -1.9%
HL Technology 6,097 7,317 -16.7% -14.2% -16.7% -14.2%
Fagron Group (continued operations) 313,637 321,534 -2.5% 0.6% -5.2% -2.2%
Discontinued operations 4,158 35,772 -88.4% -88.4% -88.4% -88.4%
Total 317,795 357,305 -11.1% -8.3% -13.3% -10.6%

CER = constant exchange rates

Hans Stols, CEO Fagron: "The sterile activities of Fagron Specialty Pharma Services (FSPS) in the United States and the activities in South America and Rest of World have developed positively in the last quarter. Turnover in Europe remained below the level of the unusually strong third quarter of 2015.

In the US, turnover of Fagron Essentials and Fagron Trademarks have been negatively impacted as a result of  both the changed reimbursement system and the initiated process to integrate Freedom Pharmaceuticals and Fagron Inc., to be centralised in Minneapolis.

In the period under review we have made good progress with the expansion of the FSPS sales team in the United States, which is now practically fully deployable. Validation of the products for the new Wichita facility is proceeding as planned. It is expected that the facility will have received all required licences and will have completed the validation processes early 2017.

Recently the Board of Directors has initiated the process to explore strategic options for HL Technology. After completion of their findings, we will inform the market."

Please open the link below for the press release: