DGAP-News PharmaSGP: Revenue growth in 2020 despite declining markets
DGAP-News: PharmaSGP Holding SE / Key word(s): Preliminary Results
PharmaSGP: Revenue growth in 2020 despite declining markets
- At €63.2 million, group revenue showed slight growth in a market environment severely impacted by Covid-19
- Growth drivers: strategically important 'Health Brands' category grew revenue by 11.8%, International markets showed strong growth with 18.6%
- Adjusted EBIT with €16.5 million below previous year driven by Covid-19 impact; adjusted EBIT margin at 26.1%
- Besides organic growth, the future growth strategy is focused in particular on the acquisition and integration of established brands
- Forecast 2021: revenue of €56-60 million, with adjusted EBIT margin increasing to 27-30% excluding effects from possible acquisitions
Gräfelfing, March 31st, 2021 - Based on preliminary figures, PharmaSGP Holding SE asserted itself in 2020, achieving slightly higher revenues in an overall declining market due to the Covid-19 pandemic. EBIT adjusted for one-off costs and special effects decreased due to Covid-19, resulting in an adjusted EBIT margin of 26.1%.
Although revenue and earnings developed differently in 2020 than was originally expected due to the Covid-19 pandemic, CEO Natalie Weigand considers PharmaSGP's strategy to have been vindicated: "With PharmaSGP we have created a platform in Europe with which we can successfully integrate and expand brands. In these challenging times, a revenue growth of around 12% in our 'Health Brands' category and an international growth of around 19% clearly prove this. We want to exploit the growth potential offered by our platform strategy even more consistently, and thus become Europe's leading OTC company with the broadest portfolio of leading OTC brands in their categories. As well as expanding our existing portfolio, we are focusing in particular on the acquisition and integration of established brands."