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Medios AG: Further dynamic growth

DGAP-News: Medios AG / Key word(s): 9 Month figures/Quarter Results Medios AG: Further dynamic growth 12.11.2020 / 07:02 The issuer is solely responsible for the content of this announcement. Press Release

Medios AG: Further dynamic growth

• Sales growth of around 22% in the first nine months of 2020
• Corona-related special effects continue to burden earnings - but third quarter earnings improve compared to second quarter of 2020
• Forecast for the full year confirmed

Berlin, 12 November 2020 - Medios AG ("Medios"), one of the leading Specialty Pharma companies in Germany, has continued its dynamic sales growth in the first nine months of 2020 (9M 2020). Group sales from January to September increased by around 22% to €453m compared to the same period of the previous year (€372m). Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for extraordinary expenses*, amounted to €10.2m (previous year €14.1m), and consolidated earnings before taxes (EBT), adjusted for extraordinary expenses*, amounted to €8.0m (previous year €12.8m).

The disproportionate earnings performance in relation to sales is due in particular to the Corona-related special effects: The stockpiling that began in the first quarter as a result of the allocation of quotas for certain drugs was carried out at higher purchase prices and this led to lower margins than planned. This effect continued in the second and third quarter. However, compared to the weak second quarter, Medios shows a positive development for the third quarter 2020: Sales rose by 23% to around €160m, and adjusted EBT* significantly improved to around €3.1m compared to the second quarter. Medios confirms the forecast for the 2020 financial year.

Matthias Gärtner, CFO of Medios AG: "Despite the COVID-19 crisis, we were able to record a sales growth in the third quarter as well. We are very satisfied with the development of our business and remain confident that we will also be able to close the financial year with a significant increase in sales."

Outlook
Despite the challenging market environment, Medios continues to expect dynamic sales growth. The Company assumes that the extraordinary Corona-related special effects in connection with the quota allocation will continue in the fourth quarter of 2020 and will burden the Company's earnings.