DGAP-News

PharmaSGP: Expected business development in Q1 2021 - Seite 2

"In the first quarter of 2021, our target markets continued to be impacted by area-wide lockdowns. Firstly, this led to less customers in pharmacies overall. Secondly, we suspended new product launches in light of this situation," notes CEO Natalie Weigand, commenting on the year-on-year trend. She is convinced of the business model's prospects for success, despite the challenges posed by Covid-19: "We combine a scalable asset-light business model with our specialised D2C marketing strategy and high target group reach. However, the platform continues to offer us strategic growth opportunities in such extraordinary times as we are currently experiencing. For this reason, in addition to the organic expansion of our existing 'Health Brands', we are currently focusing on the acquisition and integration of established brands offering value creation potential."

"Our platform enables us to maximise a product's potential," continues Michael Rudolf, CFO of PharmaSGP. "Firstly, by boosting sales through our effective D2C marketing. Secondly, we can achieve cost optimizations by integrating them into our efficient business model. By growing sales and optimizing margins we are creating added value for PharmaSGP and its owners."

The further course of the Covid-19 pandemic represents a key factor for the overall development of PharmaSGP in 2021. With a look to relevant European OTC markets, PharmaSGP expects year-on-year growth to occur in the second half of the year at the earliest, assuming no renewed negative impact on PharmaSGP's relevant OTC markets in Europe in the second half of 2021. For the 2021 fiscal year, the Management Board continues to anticipate revenues of between € 56 million and € 60 million, with a stable to slightly positive trend in the "Health Brands" category, and a decrease in the "Beauty Brands" business, as expected. The adjusted EBIT margin is anticipated to rise to between 27 % and 30 % compared to the 2020 fiscal year. Potential acquisitions are not included in the forecast.

PharmaSGP will publish the full first quarter 2021 announcement on
27 May 2021 on the Company's website at ir.pharmasgp.com, within the "Publications" area.

OVERVIEW OF PRELIMINARY YEAR-ON-YEAR FINANCIALS

Group figures (in € million)	Q1 2021	Q1 2020	∆
Revenues	12.4	16.7	-26.2 %
Adjusted EBIT1	2.0	4.4	-55.2 %
Unadjusted EBIT	1.6	4.3	-63.6 %
Adjusted EBIT margin1	15.9 %	26.2 %
Unadjusted EBIT margin	12.7 %	25.8 %
Revenues by regions (in € million)	Q1 2021	Q1 2020	∆
Germany	8.1	12.1	-32.8 %
Italy	1.8	2.2	-17.8 %
Austria	1.7	1.2	33.1 %
Other European countries	0.8	1.2	-36.8 %
Share of revenues by regions	Q1 2021	Q1 2020	∆
Germany	66.0 %	72.4 %
Italy	14.6 %	13.2 %
Austria	13.4 %	7.4 %
Other European countries	6.0 %	7.0 %
Revenues by product category (in € million)	Q1 2021	Q1 2020	∆
Health Brands	11.3	14.2	-20.1 %
Beauty Brands	1.1	2.5	-59.8 %

 

One-time costs and special effects amounted to € 0.4 million in Q1 2021 and € 0.1 million in Q1 2020 and include, among other items, costs for the corporate and organizational structuring of the PharmaSGP Group, as well as legal and consulting fees in connection with planned acquisitions.