Report
Thomas Vranken

Fagron FIRST LOOK: FY24 excellent growth, margin jumps

FY24 results once again outperformed expectations, featuring sustained high growth in N-Am's CS activities and a margin jump in LatAm. The company appears on track w.r.t. addressing the Wichita warning letter, and issues FY25 topline guidance of M-HSD growth in line with our expectations, hence we maintain our € 24 TP and Buy rating. A CMD is planned for Apr 10.
Underlying
Fagron SA

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.

Provider
KBC Securities
KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

 

Analysts
Thomas Vranken

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