Strong turnover growth of 19.7% to €137.5 million
11 Octobre 2019 - 07:00AM
Strong turnover growth of 19.7% to €137.5 million
Regulated informationNazareth (Belgium)/Rotterdam (the
Netherlands), 11 October 2019 – 07:00 a.m. CEST
Strong turnover growth of 19.7% to €137.5
million
Organic turnover growth accelerates to
12.4%
Highlights
- Organic turnover growth of 12.4% (9.9%
CER1)
- Strong turnover growth in North America and Latin
America, clear growth acceleration in Europe
- Brands increased organically by 21.1% CER and represent
19.3% of the turnover
- Agreement to sell HL Technology
Rafael Padilla, CEO of Fagron:
The strong turnover growth in the third quarter reflects the
success of our strategy. We are very pleased that all our regions
have contributed to this turnover development.
The European operations showed a clear
acceleration of turnover growth. Compounding Services benefited
from the fully up and running compounding facility in the
Netherlands. Brands also demonstrated a strong performance due to,
among other things, the successful introduction of innovative
solutions developed in-house. Fagron Genomics was able to maintain
its promising start and has sold 5,000 DNA tests in the first nine
months of 2019.
In Latin America, Fagron benefited from its
leading market position, partly as a result of recent acquisitions,
and continued with the strong organic growth momentum. Fagron made
a good appearance at the Consulfarma, the most important trade fair
for the sector in Latin America. In the third quarter, the first
steps were taken to integrate the recent acquisitions in Brazil and
Mexico.
Fagron also continued to perform strongly across
the board in North America. Based on the current turnover
development of the sterile compounding facilities in Wichita, we
are heading for a run-rate of US$50 million in turnover
(annualised) by the end of 2019, which means we are on track to
achieve our previously stated turnover target by 2022 at the
latest. The activities of Humco, which was acquired last year, are
fully integrated, giving Fagron an even stronger platform and
product portfolio, which is a key driver for future growth.
Furthermore, recently an agreement was reached
on the sale of HL Technology. The transaction, that is anticipated
to be completed before the end of the year, is expected to result
in a small book profit.
This performance, and the underlying
developments on which it is based, allow us to be confident that we
will also be able to achieve turnover growth in the fourth
quarter.”
1 CER = Constant
Exchange Rates |
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release:Strong turnover growth of 19.7% to €137.5 million
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