PharmaSGP continues the profitable growth course of the previous quarters in the third quarter of 2023

Gräfelfing, November 14, 2023 – German OTC pharmaceutical company PharmaSGP Holding SE continued the positive business development of the previous quarters in the third quarter of 2023. Based on preliminary, unaudited figures, quarterly revenues of € 26.0 million once again exceeded the figures for the two previous quarters of the year. Overall, PharmaSGP generated revenues of € 75.7 million in the first nine months of 2023. This corresponds to growth of 18.3% compared to the previous year's figure of € 63.9 million. With year-on-year growth of 21.3%, adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) amounted to € 24.7 million in the 2023 reporting period. As a result, the adjusted EBITDA margin rose as expected to 32.7% (previous year: 31.9%).

CEO Natalie Weigand comments: "We are very proud that we were able to achieve a consistently positive business performance in the third quarter, even in the face of macroeconomic and geopolitical uncertainties. Once again, our platform strategy is proving to be a key competitive factor in delivering constant and profitable growth. We also benefit from our effective marketing activities, which enable us to exploit the potential of our product portfolio to an even greater extent."

CFO Michael Rudolf adds: "After the first nine months, we see PharmaSGP well on track to achieving the targets for 2023 in terms of both revenue and earnings. In addition to profitable growth, our continued strong cash conversion rate should also be emphasized, which contributes to the Group's overall very solid financial position. Thanks to this strong structural and financial basis, we are confident that we will be able to continue our success story beyond the 2023 financial year."

The Management Board of PharmaSGP expects revenues of between € 95 million and € 100 million for the full year 2023. Adjusted EBITDA is expected to be between € 30 million and € 34 million. This corresponds to an adjusted EBITDA margin of 31.6% to 34.0%.

PharmaSGP will publish its full nine-months report on November 28, 2023.
 

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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.