AGAIN A VERY STRONG QUARTER FOR FAGRON
MANAGEMENT CONFIRMS EXPECTATIONS FOR 2014
Waregem (Belgium) / Rotterdam (The Netherlands)[1], 8 October 2014 -In the third quarter of 2014, the consolidated turnover of Arseus increased by 34.1% (33.9% at constant exchange rates) to
€ 110.9 million. Organic growth amounted to 10.5% (10.3%). In the first nine months of 2014, consolidated turnover increased by 30.5% (34.4%) to € 320.0 million. Organic growth amounted to 9.5% (12.9%).
The evolution of turnover[2] per division is as follows:
x 1,000 euros Q3 2014 Q3 2013 Total growth Tot. growth constant* Org.growth Org. growth constant** Fagron 109,055 81,100 34.5% 34.3% 10.4% 10.3% HL Technology 1,845 1,623 13.7% 11.2% 13.7% 11.2% Total 110,900 82,723 34.1% 33.9% 10.5% 10.3%
growth Org. growth constant** Fagron 313,185 239,257 30.9% 35.0% 9.4% 12.9% HL Technology 6,863 6,032 13.8% 12.5% 13.8% 12.5% Total 320,048 245,289 30.5% 34.4% 9.5% 12.9%
* Total growth at constant exchange rates ** Organic growth at constant exchange rates
Ger van Jeveren, CEO of Arseus: “Arseus, once again, reported strong growth in the third quarter of 2014 with total turnover growth of 33.9%. Fagron generated organic growth of 12.9% at constant exchange rates in the first nine months of 2014. Fagron’s healthy organic growth is evidence of its successful strategy of innovating and optimising pharmaceutical compounding with the aim of providing optimal tailor-made pharmaceutical patient care. Turnover growth is driven by increased volumes in Fagron Compounding Services and the successful global cross-selling of innovative concepts, such as the Fagron Advanced Derma and SyrSpend® SF. Consequently, we are confirming our earlier expectations for 2014 to achieve turnover of at least € 435 million[3], with a REBITDA[4] margin of 26%.”
[1] This press release was sent out by Arseus NV and Arseus BV.
[2] Unaudited management figures.
[3] Based on continuing operations (Fagron and HL Technology) and on constant exchange rates (EUR/US dollar 1.324 and EUR/BRL 3.112).
[4] EBITDA after corporate costs and before non-recurrent result.
Please open the link below for the press release: