Frequently Asked Questions
In this section you can find answers to frequently asked questions about Fagron
Fagron’s financials
REBITDA is Fagron’s EBITDA before non-recurring results. Non-recurring results generally consist of acquisition and restructuring costs offset by any release of contingent liabilities related to acquisitions.
This information can be found here.
This information can be found here.
Assuming no significant changes in current market conditions, we expect high single digit organic revenue growth and an increase in profitability for 2024 year-on-year.
Our regular maintenance capex remains stable at 3 to 3.5% of revenue, while we are making one-off investments in 2023 and 2024 in North America, to facilitate further growth and enhance operational excellence in the region, and in EMEA in the registration and exclusive license and distribution rights.
We remain committed to our disciplined acquisition strategy in all regions where we are active as part of Fagron’s growth strategy.
At our Capital Markets Day, held on 15 March 2022, Fagron outlined the following medium term financial objectives for the period until 2026:
- 8% organic revenue CAGR at CER for Fagron as a whole
- EMEA: low-single digit organic revenue CAGR at CER
- Latin America: high-single digit organic revenue CAGR at CER
- North America: mid-teens organic revenue CAGR at CER;
- REBITDA margin consistent with 2017-2021 average;
- Cash generation and earnings conversion to remain sustainably high
- At least 70% operating cash conversion (% of REBITDA)
- At least 50% free cashflow conversion (% of REBITDA)
- 10-11% operating working capital as % of revenue (average)
- Capital allocation strategy focused on driving growth opportunities
General maintenance capex averages between 3 to 3.5% of total revenue. Additional capex expenditure will be announced.
Fagron is committed to optimizing shareholder return. Dividend is flexible and geared to support strategic initiatives.
Fagron is committed to responsible balance sheet management. Fagron’s bank covenants allow for 3.5x net leverage. Fagron strives to not exceed 2.8x net leverage. Fagron publishes its net leverage every semester.
Fagron’s statutory auditor is Deloitte Bedrijfsrevisoren CVBA. Its current mandate shall expire after Fagron’s general meeting of shareholders that must approve Fagron’s 2024 annual accounts.
*Important information regarding forward-looking statements. Certain statements in this section may be deemed to be forward-looking. Such forward-looking statements are based on current expectations and are influenced by various risks and uncertainties. Consequently, Fagron cannot provide any guarantee that such forward-looking statements will, in fact, materialize and cannot accept any obligation to update or revise any forward-looking statement as a result of new information, future events or for any other reason.
Information on this page was most recently updated on 15 February 2024.