Regulated information | Consolidated results for the financial year 2014
Waregem (Belgium)/Rotterdam (Netherlands)1 , 6 February 2015
Turnover growth of 30.4% to € 447.1 million
Strong organic growth of 11.5%
REBITDA margin of 26.5%
Strongly improved free cash flow generation
Dividend increase of 39% to € 1.00 per share
Key financial highlights 2014:
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Turnover growth of 30.4% to € 447.1 million
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Organic growth of 11.5% at constant exchange rates
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REBITDA increases 49.8% to € 118.5 million
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REBITDA margin 26.5%
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Proposed dividend for 2014: € 1.00 per share, an increase of 39% compared to 2013
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Outlook 20152: turnover of at least € 500 million with a REBITDA margin of 26%
Ger van Jeveren, CEO of Fagron: “2014 was an excellent year for Fagron with record results. Following the successful completion of the divestment of the dental and medical activities, we have changed our company name into Fagron. From now on we can focus even more on the growth of Fagron as a global pharmaceutical R&D company delivering innovative solutions to compounding pharmacies worldwide. In 2014 Fagron’s turnover increased 30.4% to € 447.1 million. This is a result of already successfully integrated acquisitions and an organic growth of 11.5%. EBITDA increased by 49.8% to € 118.5 million, which represents 26.5% of turnover. The strong organic growth is driven by the increasing number of patients worldwide that are being treated with medication compounded by Fagron . This medication is developed, formulated and prepared, often using Fagron Trademark vehicles, in one of Fagron’s GMP approved compounding facilities. The impressive results of 2014 illustrate the successful execution of our innovation strategy with a focus on Fagron Compounding Services and the development and introduction of Fagron Trademarks which have significant added value in improving the quality of life of patients every day. Thanks to the substantially increased cash flow generation, we propose a dividend of € 1.00 per share which is a 39% increase compared to 2013. Due to our successful and professional team of more than 300 pharmacists and over 1,000 pharmaceutical compounding specialists, we are convinced that Fagron will continue to expand its global market leadership in the niche market of pharmaceutical compounding. Fagron expects to realise a turnover of at least € 500 million with a REBITDA margin of 26% in 2015.”
[1] This press release was sent out by Fagron NV and Fagron BV.
[2] Based on constant exchange rates (Euro/US dollar of 1.250 and Euro/Brazilian Real of 3.100).
For further information
Marieke Palstra
Global Investor Relations Director
Tel. +31 88 33 11 213
marieke.palstra@fagron.com
investors.fagron.com
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