Medios AG publishes half-year financial report 2018 - growth path continues
- Strong demand for individualised medicine
- Expansion of number of partner pharmacies
- Revenues increase by 24% to EUR 145 million
- EBT* grows by 22% to EUR 4.7 million
- Forecast for full year 2018 confirmed
Berlin, 25 September 2018 - Medios AG ("Medios"), one of Germany's leading speciality pharma companies, benefited from the ongoing high demand for individualised medicine and a consistent expansion of the number of Medios partner pharmacies in the first half of 2018.
Group revenue rose in the reporting period by 24% to EUR 145 million (previous year: EUR 117 million), according to the half-year financial report (IFRS) published today. Earnings before tax (EBT) increased by 5.4% to EUR 4.08 million (previous year: EUR 3.9 million) before non-recurring, non-cash expenses of EUR 1.15 million for stock options. Adjusted for the non-recurring start-up costs of EUR 0.64 million for the laboratories acquired in September 2017, EBT grew by 22.0% to EUR 4.7 million.
The balance sheet of Medios AG increased as a result of this growth to EUR 87.3 million as of 30 June 2018 (31 December 2017: EUR 61.7 million). As of 30 June 2018 cash and cash equivalents amounted to EUR 15.1 million.
Continuous expansion of pharmacy partner network
In March 2018 Medios AG announced the takeover of significant operations of the BerlinApotheke Schneider & Oleski oHG ("BerlinApotheke"). This acquisition and the associated expansion of manufacturing operations for non-cytostatic products enables Medios to keep developing its dynamically growing Manufacturing segment. Initial integration of these operations into the Medios Group began in June 2018. Full integration, including the issue of new shares, is expected to be completed by the end of October 2018. This means the number of individualised medicines can be increased significantly already in 2018.
Manfred Schneider, CEO of Medios AG: "We have reached important key milestones in the first half of 2018 and are well on track for the full year. By starting operations in Medios Individual and successfully expanding our network of partner pharmacies to over 140 at present, we have prepared the basis for further revenue and earnings growth."
In the medium term Medios plans to grow the network to 300 pharmacies; management sees the total potential for specialist pharmacies in Germany at around 1,000.
Full-year forecast 2018 confirmed
In view of the positive business performance and the successful further expansion of its commercial operations, the Medios Management Board confirms the forecast for the full year 2018 published in the Annual Report 2017. It projects an increase in Group revenue to about EUR 320 million, a rise of 26% compared with the previous year. Without non-recurring, non-cash expenses for stock options, EBT is expected to reach EUR 11 million, a year-on-year increase of 37%.
Medios AG plans to continue this profitable growth. After the start of business operations at Medios Individual, profitability is set to improve successively. The full potential of this strategic move is expected to be realised from 2019 onwards.
Further information on the business performance of Medios AG in the first half-year 2018 can be found in the half-year financial report, which is available for download at https://medios.ag/en/investor-relations/financial-reports/.
* before non-recurring start-up expenses of EUR 0.64 million for the laboratories acquired in September 2017 and non-recurring, non-cash expenses of EUR 1.15 million for stock options.
About Medios AG
Medios AG positions itself - along with its sister companies Medios Pharma, Medios Manufaktur and Medios Digital - as a competence partner and solution provider for the Specialty Pharma segment. Medios AG interconnects individual actors within the market and turns them into co-operating partners. It is our goal to guarantee best possible pharmaceutical care for patients while providing our partners and clients with integrated solutions along the supply chain. Specialty Pharma medicine are pharmaceuticals for patients with rare and chronic diseases such as certain cancer types and autoimmune / infectious diseases, which are time-consuming and cost-intensive to cure.
Kirchhoff Consult AG
Anja Ben Lekhal
Telefon: +49 40 60918655
Fax: +49 40 60918660
This notification contains forward-looking statements that are subject to certain risks and uncertainties. Future results may significantly deviate from currently expected results, specifically due to various risk factors and uncertainties such as changes in business, economic, and competitive circumstances, exchange rate fluctuations, uncertainties about legal disputes or investigations, and the availability of financial resources. Medios AG assumes no responsibility whatsoever for updating the forward-looking statements contained in this notification.
25.09.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de