Regulated information | Consolidated results for the first half of 2014
Waregem (Belgium) / Rotterdam (The Netherlands)[1] 5 August 2014
TURNOVER OF ARSEUS INCREASES STRONGLY BY 34.7% TO € 209.1 MILLION
STRONG ORGANIC GROWTH AT FAGRON OF 14.2%
REBITDA MARGIN AT FAGRON OF 28.5% DUE TO SUCCESSFUL R&D AND INNOVATION STRATEGY
NET DEBT/REBITDA RATIO IS 2.96
BOARD OF DIRECTORS DECIDES TO DIVEST CORILUS
Ger van Jeveren, CEO of Arseus: “The results of Arseus over the first six months of 2014[2] are outstanding. Turnover increased 34.7% to € 209.1 million. At constant exchange rates, Fagron generated organic growth of 14.9% in the second quarter of 2014. With its successful R&D and innovation strategy, Fagron’s REBITDA margin rose to 28.5%, an increase of 400 basis points compared to the previous year.
An important strategic milestone was reached in the first half of the year with the completion of the divestment of Healthcare Solutions and Healthcare Specialties, which has transformed Arseus into a pure and innovative pharmaceutical R&D company. In line with this strategic decision, the Board of Directors decided to initiate the process of divesting Corilus. From now on, Arseus will focus fully on the expansion of Fagron as a successful and innovative pharmaceutical R&D company. In the first half of the year, the global market leadership in the fast-growing niche market for pharmaceutical compounding was further strengthened with the acquisition of pharmaceutical compounding pharmacies in the US, Europe, South Africa and Australia. Fagron has further acquisitions in the pipeline in Europe, the United States and South America.
The outlook for 2014 has been adjusted due to the divestment of Corilus, and Arseus expects to achieve turnover from continued operations of at least € 435 million[3], with a REBITDA[4] margin from continued operations of 26%.”
[1] This press release was sent out by Arseus NV and Arseus BV.
[2] Based on continuing operations (Fagron and HL Technology).
[3] Based on constant exchange rates (EUR/US dollar 1.324 and EUR/BRL 3.112)
[4] EBITDA after corporate costs and non-recurrent result.
Please open the link below for the press release:
Turnover of Arseus increases strongly by 34.7% to € 209.1 million
Please open the link below for the interim financial statements: