AGM
Statement
Dublin, London | 9 May 2024
Uniphar plc (the "Company" or
"Uniphar") is holding its AGM today at 11am BST at the office of
William Fry, LLP, 6th Floor, 2 Grand Canal Square, Dublin 2, D02
A342, Ireland.
At the AGM, Maurice Pratt, Chairman
of Uniphar, will make the following statement:
"I am pleased to report that 2023
was another successful year for Uniphar. The Group achieved a
significant milestone of doubling 2018 pro-forma EBITDA ahead of
the timeframe committed to at the time of IPO. We also announced a
new ambitious target of growing Group EBITDA to €200m over the
medium-term. This will be achieved through a combination of strong
organic growth complemented with acquisitions that meet our
disciplined strategic and financial criteria.
We have also reorganised into three
new divisions - Uniphar Supply Chain & Retail, Uniphar Medtech,
and Uniphar Pharma - to better capitalise on growth opportunities
and align with our customers and stakeholders.
Financial performance during 2023
was strong with organic gross profit growth of 5.6%, driven by
growth across each of our three divisions. EBITDA increased to
€116.0m, reflecting 17.7% growth, reported free cash flow
conversion was strong at 78.5% and we maintained modest leverage at
1.6x.
We have commenced our multi-year
strategic capital expenditure in an IT and ERP investment programme
and this is progressing to plan. M&A remains a key component of
our growth strategy and the Group completed the acquisitions of the
McCauley Pharmacy Group and certain assets from Pivot Digital
during the year.
I am pleased to report a good start
to 2024, with performance in the first four months in line with the
Board's expectations. Uniphar remains well positioned to deliver
organic gross profit growth across each division in line with
previous guidance and to deliver expectations for the full
year.
Sustainability continues to form a
key part of Uniphar's culture and business practices, and we made
continued progress across all five of our sustainability pillars.
The Group's MSCI rating was upgraded to "AAA" during 2023 and it
maintained its CDP 'B' rating for a second consecutive year. We are
also delighted to announce that last month the near-term
science-based emissions reduction targets submitted by the Group to
SBTi received formal validation.
Finally, I'd like to express my
appreciation for the considerable effort and unwavering commitment
from our Uniphar colleagues, management, and fellow Directors over
the previous year. I would also like to thank our shareholders, the
executive team, and all our global teams for their loyalty,
diligence, and dedication during 2023."
--- ENDS ---
Contact details
|
Uniphar Group
|
Tel: +353 (0) 1 428
7777
|
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Allan Smylie, Head of
Strategy and IR
|
|
|
|
Davy (Joint Corporate Broker, Nominated Advisor
and
Euronext Growth Listing Sponsor)
|
Tel: +353 (0) 1 679
6363
|
|
Daragh
O'Reilly
Niall
Gilchrist
Ivan Murphy
|
|
|
|
|
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RBC Capital Markets (Joint Corporate
Broker)
|
Tel: +44 (0) 20 7653
4000
|
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Jamil Miah
Rupert
Walford
|
|
|
|
|
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Stifel Nicolaus Europe Limited (Joint
Corporate Broker)
|
Tel:
+44 (0) 20 7710 7600
|
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Matt Blawat
Ben
Maddison
Francis
North
|
|
|
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Q4 PR
|
Tel: +353 (0) 1 475
1444
|
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Iarla Mongey, Public
Relations Advisor to Uniphar Group
|
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About Uniphar plc
Headquartered in Dublin, Ireland,
the Uniphar Group is an international diversified healthcare
services business servicing the requirements of more than 200
multinational pharmaceutical and medical technology manufacturers
across three divisions - Uniphar Pharma, Uniphar Medtech and
Uniphar Supply Chain & Retail. The Group is active in Europe,
North America, APAC and MENA and delivers to 160+
countries.
The Company's vision is to improve
patient access to pharmaco-medical products and treatments by
enhancing connectivity between manufacturers and healthcare
stakeholders. Uniphar represents a strong combination of scale,
growth, and profitability.
Uniphar Supply Chain & Retail
Uniphar Supply Chain & Retail is
the leading pharmaceutical wholesaler in Ireland with a growing
symbol group offering of retail pharmacies. The Group's strategy
for Uniphar Supply Chain & Retail is to grow our wholesale
market share, our symbol group network and our own brand,
in-licenced and consumer products portfolio.
Uniphar Medtech
Uniphar Medtech is a leading
Pan-European medical device distributor and solutions partner. The
Group's strategy for Uniphar Medtech is to grow our service
offering across Europe and expand our addressable market by serving
new specialities and new manufacturers.
Uniphar Pharma
Uniphar Pharma operates a global
business with high value services across the lifecycle of a
pharmaceutical product. We enable pharma and biotech companies to
bring innovative medicines to global markets and provide healthcare
professionals with access to medicines they can't source through
traditional channels. Our strategy is to build a leading platform
to provide the specialist support and expertise needed to improve
access to these medicines.
