PharmaSGP achieves top performance in the first half of 2023

Gräfelfing, September 14, 2023 – In the first half of 2023, German OTC pharmaceutical company PharmaSGP Holding SE continued its dynamic performance of the previous quarters, achieving half-year revenues of € 49.7 million based on preliminary, unaudited results. This corresponds to an increase of 18.4% (previous year: € 42.0 million). In the first quarter, PharmaSGP achieved revenues of € 24.0 million, which were exceeded in the second quarter with revenues of € 25.7 million. Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) for the first six months of 2023 amounted to € 15.3 million, an increase of 27.0% compared to the previous year. Likewise, the adjusted EBITDA margin increased year-on-year to 30.9% (previous year: 28.8%). In view of the strong performance in the first half of the year, the Management Board sees the company well on track to achieving the targets set for the full year 2023.

CEO Natalie Weigand comments: ”With great satisfaction we look back on the first half of 2023, in which we were able to seamlessly build on the successes of 2022. We see this as further evidence of the success of our scalable, pan-European growth platform, which creates organic and inorganic value for PharmaSGP and its shareholders. It enables us to effectively integrate and grow brands, enter new regions and respond to new opportunities faster than our competitors. Our quarterly figures impressively demonstrate the great potential that we can leverage with our business model.“

CFO Michael Rudolf adds: ”We expect our successful course to continue in the second half of 2023. At the same time, we consider our accomplishments as an incentive to strengthen our European platform with further acquisitions and thus continuously drive forward our growth plans. We continue to pursue the vision of PharmaSGP becoming the leading company in Europe with the broadest portfolio of leading OTC products.”

PharmaSGP will publish its full report for the first half of 2023 on 28 September 2023. In addition, a webcast for interested investors will be held on the same day. The dial-in details will be sent out soon.
 

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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.