Fagron realises turnover of € 103.4 million
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 Group (continued operations)||103,401||104,537||-1.1%||-2.7%||-1.1%||-2.7%|
|Turnover (x 1,000)||9M 2016||9M 2015||Total growth||Total growth CER||Org. growth||Org. growth CER|
|Fagron Group (continued operations)||313,637||321,534||-2.5%||0.6%||-5.2%||-2.2%|
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: