PharmaSGP with a significant leap in revenue in Q1 2023 – EBITDA grows by more than 40%

PharmaSGP with a significant leap in revenue in Q1 2023 – EBITDA grows by more than 40%

Gräfelfing, 10 May 2023 – In the first quarter of 2023, German OTC pharmaceutical company PharmaSGP Holding SE continued its dynamic performance of the previous quarters and achieved the highest level of quarterly revenue in the company’s history to date at € 24.0 million (on the basis of preliminary, unaudited results). This corresponds to an increase of 16.7% compared with the prior-year quarter (€ 20.6 million). The Group achieved a substantial increase in adjusted earnings before interest, taxes, depreciation and amortisation (adjusted EBITDA) to € 7.0 million in the first three months of 2023 – equivalent to outstanding year-on-year growth of 40.3%. As expected, the adjusted EBITDA margin rose to 29.2% (prior-year-quarter: 24.3%).

CEO Natalie Weigand comments: “We strengthened our organic growth in key focus brands during the first months of 2023 and further expanded our market-leading position in relevant indication areas. Year-on-year revenue growth of 16.7% once again highlights our portfolio’s potential, both nationally and internationally.”

CFO Michael Rudolf added: “Following our record year in 2022, the signs continue to point clearly to profitable growth after the first quarter of 2023 as well. In addition to dynamic revenue growth, our sustainably high profit margin is outstanding. For this reason, we see ourselves clearly on track to achieve our guidance for the 2023 financial year.”

For the 2023 financial year, revenue is expected in a range between € 91 million and € 96 million. For the adjusted EBITDA margin, the Management Board expects an increase to between 33.0% and 35.4%, compared to 32.9% in the 2022 financial year. This corresponds to adjusted EBITDA in a range between € 30 million and € 34 million.

PharmaSGP will publish its full statement for the first three months of 2023 on 26 May 2023.

OVERVIEW OF PRELIMINARY RESULTS – YEAR-ON-YEAR COMPARISON

CONTACT

cometis AG
Claudius Krause
Telephone: 49-611-20585528
Email: ir@pharmasgp.com

ABOUT PHARMASGP HOLDING SE

PharmaSGP is a leading consumer health company with a diversified portfolio of over-the-counter (OTC) pharmaceuticals and other healthcare products that are marketed with a focus on the pharmacy distribution channel. These products are mostly based on natural active pharmaceutical ingredients with documented efficacy and few known side effects.

The Company’s core brands cover chronic indications, including rheumatic pain, nerve pain and other age-related ailments. In Germany, PharmaSGP is the market leader for systemic chemical-free pain remedies with its brand families RubaXX® for rheumatic pain and Restaxil^® for neuralgic pain. Furthermore, PharmaSGP also offers leading products against sexual weakness and vertigo symptoms. Since introducing the first product from the current product portfolio in 2012, PharmaSGP has successfully established its business model in other European countries, including Austria, Italy, Belgium, Spain and France. In September 2021, the product portfolio was expanded by the brands Baldriparan^®, Formigran^®, Spalt^® and Kamol^®, thus also strengthening or developing the indications pain and sleep disorder. The sales territory was expanded to include Switzerland and Eastern Europe. In 2022, PharmaSGP generated revenues of € 85.8 million at an adjusted EBITDA margin of 32.9%.

In order to further expand its competitive position, PharmaSGP plans to increase the number of indications covered by PharmaSGP’s product offering, increase PharmaSGP’s European footprint, and accelerate its growth strategy especially by capitalizing on selected M&A opportunities.