EBITDA INCREASES 30.5%
ARSEUS WILL DIVEST REMAINING DENTAL AND MEDICAL ACTIVITIES IN 2014
Key points in 2013, based on continuing operations[2]:
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Turnover increased 14.4% to € 386.1 million
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Organic turnover growth was 8.6% (12.6% at constant exchange rates)
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EBITDA increased 30.5% to € 88.0 million
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EBIT increased 37.4% to € 73.9 million
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Net financial debt/annualised REBITDA ratio was 2.61 at 31 December 2013
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Divestment of all remaining dental and medical activities in 2014
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Dividend proposal for 2013: € 0.72 per share, 20.0% higher than in 2012
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Outlook 2014[3]: Turnover of at least € 480 million with an REBITDA[4] margin of 26%
Ger van Jeveren, CEO of Arseus: “2013 was an excellent year for Arseus. Turnover from continuing operations grew organically by 12.6% to € 386.1 million, while EBITDA increased by 30.5% to € 88.0 million. The Board of Directors has decided to divest the remaining dental and medical activities in 2014. As a result, Arseus will transform to a pure R&D scientific company delivering innovative solutions and concepts to compounding pharmacies worldwide and ICT total solutions to medical professionals in Belgium, the Netherlands and France.
In France supply chain agreements were signed with two leading compounding pharmacies. In January 2014, Fagron further consolidated its global market leadership with the acquisition of two compounding facilities in the US and Europe. Furthermore, Fagron has signed an agreement in principle to acquire three large compounding facilities in the US. This transaction is expected to be closed in the second quarter of 2014. Due to the quality of the organisation and its operational excellence, Fagron will be able to integrate these acquisitions quickly and smoothly.
Based on the current portfolio, including the acquisitions mentioned above, Arseus expects a turnover from continuing operations of at least € 480 million with an REBITDA margin from continuing operations of 26% in 2014.”
[1] This press release was sent out by Arseus NV and Arseus BV.
[2] Continuing operations refer to Fagron, Corilus and HL Technology.
[3] Based on constant exchange rates (Euro/US dollar of 1.324 and Euro/Brazilian Real of 3.112).
[4] EBITDA after corporate costs and before non-recurrent result.
Please open the link below for the press release: