Fagron FIRST LOOK: 3Q24 beats expectations across the board
3Q24 results outperformed our and CSS expectations across all regions on the back of sustained high growth in N-Am's CS activities and strong CER performance in LatAm. The company reiterates its FY24 topline guidance of 11-14% y/y growth, hence we maintain our € 24 TP and Buy rating.Fagron supplies products, services to professionals and institutions in the healthcare sector in Europe, the U.S.A. and Brazil. Co.'s activities are subdivided into four divisions. Through Fagron, Co. offers products and concepts for pharmaceutical compounding. Through Arseus Dental, Co. supplies dental products and concepts to dentists and dental laboratories in Belgium, the Netherlands, France, Germany and Switzerland. Through Arseus Medical, Co. supplies medical and surgical products to specialists, elderly homes, homecare nurses and hospitals in Belgium and the Netherlands. Through Corilus, Co. supplies ICT total solutions for medical specialists in Belgium, the Netherlands and France.
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