DGAP-News: Medios AG
/ Key word(s): Quarter Results/9 Month figures
Medios AG continues dynamic growth in third quarter - Forecast for 2019 financial year confirmed
Berlin, 30 October 2019 - Medios AG ('Medios'), one of the leading Specialty Pharma companies in Germany, continued its dynamic growth in the third quarter of 2019 as expected and confirms the forecast for the 2019 financial year, which was significantly raised in September. According to IFRS, group sales in the period from July to September 2019 increased by 58.9 per cent year-on-year to EUR 143 million (previous year EUR 90 million). Group earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for extraordinary expenses*, rose by 81.0 per cent to EUR 6.37 million (previous year EUR 3.52 million). Group earnings before taxes (EBT), adjusted for extraordinary expenses*, climbed by 80.3 per cent to EUR 5.95 million (previous year EUR 3.30 million). The reason for the disproportionately high development of earnings compared to sales was the particularly strong growth in the business unit Patient-Specific Therapies. Net income of EUR 0.8 million from the sale of the office building in Stieffring, which had been acquired in March 2017, was also recorded.
In the first nine months of the 2019 financial year, Medios' group sales increased by 58.3 per cent year-on-year to EUR 372 million (previous year EUR 235 million). Adjusted EBITDA* rose by 64.7 per cent to EUR 14.1 million (previous year EUR 8.56 million). Adjusted EBT* climbed 59.4 per cent to EUR 12.8 million (previous year EUR 8.03 million).
Matthias Gärtner, CFO of Medios AG: 'In the first nine months of 2019, Medios already generated significantly more sales than in the entire 2018 financial year. We benefited not only from the sustained high demand for specialty pharmaceuticals, but also in particular from the increasingly positive impulses provided by our increased growth investments. The business development makes us very confident that we will achieve the forecasts for 2019, which had been raised significantly in September, and thus generate sales of more than half a billion euros for the first time.'
Medios confirms its forecasts for the 2019 financial year. Accordingly, the Management Board expects, on IFRS basis, group sales of EUR 500 to 510 million (previous year EUR 328 million), adjusted EBITDA* of EUR 17 to 18 million (previous year EUR 11.7 million) and adjusted EBT* of EUR 15 to 16 million (previous year EUR 11.0 million). This corresponds to an increase in sales of 52.4 to 55.5 per cent and an increase in earnings of 45.3 to 53.8 per cent and 36.4 to 45.5 per cent respectively compared to the previous year. As far as currently foreseeable, the forecasts take into account legal changes and additional growth investments.
* EBITDA and EBT are each adjusted proportionately for extraordinary expenses for stock options in the amount of EUR 1.28 million (non-cash) for the 2019 financial year. EBT are also adjusted proportionately for extraordinary expenses for amortization of EUR 0.60 million (non-cash) on the customer base as a result of the acquisition of parts of BerlinApotheke Schneider & Oleski oHG in the 2019 financial year.
About Medios AG
Medios AG is Germany's first publicly listed Specialty Pharma company. The share (WKN: A1MMCC, ISIN: DE000A1MMCC8) is listed in the Regulated Market of the Frankfurt Stock Exchange (General Standard).
|Phone:||+49 30 232 566 - 800|
|Fax:||+49 30 232 566 - 801|
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf|
|EQS News ID:||899539|
|End of News||DGAP News Service|