EQS-News: PharmaSGP continues dynamic business development with significant revenues growth in Q1 2024

PharmaSGP continues dynamic business development with significant revenues growth in Q1 2024

Gräfelfing, May 14, 2024 – German OTC pharmaceutical company PharmaSGP Holding SE continued the positive business development of 2023 in the first quarter of 2024 and achieved an increase in revenues of 25.6% to €30.1 million (prior-year quarter: €24.0 million) based on preliminary, unaudited figures. Compared to the previous year, adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) rose from €7.0 million to €8.9 million in the first three months of 2024. The resulting adjusted EBITDA margin increased quarter-on-quarter to 29.4% (prior-year quarter: 29.2%).

CEO Natalie Weigand comments: “After an outstanding year 2023 and significantly faster growth than the market, we are very proud to be able to continue this development in 2024. Accordingly, we have further strengthened our position as a fast-growing OTC consumer health company in Europe in the first three months of 2024 thanks to our well-proven platform model and effective marketing strategies.”

CFO Michael Rudolf adds: “The revenues figures for the first quarter of 2024 reflect in particular PharmaSGP’s potential in foreign markets. As expected, the adjusted EBITDA margin of 29.4% was slightly higher than in the prior-year quarter. With the revenues and earnings margin achieved in the first three months of 2024, we see ourselves well on track for another year of profitable growth.”

In the current financial year 2024, revenues are expected to be in a range between €107.0 million and €112.0 million. The Management Board expects adjusted EBITDA to increase to between €35.0 million and €38.0 million. This corresponds to an adjusted EBITDA margin of 32.7% to 33.9%.

PharmaSGP will publish its full statement for the first three months of 2024 on May 28, 2024.

OVERVIEW OF PRELIMINARY YEAR-ON-YEAR FIGURES

CONTACT

cometis AG
Claudius Krause
Phone: +49-611-20585528
Email: [email protected]

ABOUT PHARMASGP HOLDING SE

PharmaSGP is a leading consumer health company with a diversified portfolio of over-the-counter (OTC) pharmaceuticals and other healthcare products that are marketed with a focus on the pharmacy distribution channel. These products are mostly based on natural active pharmaceutical ingredients with documented efficacy and few known side effects.

The Company’s core brands cover chronic indications, including rheumatic pain, nerve pain and other age-related ailments. In Germany, PharmaSGP is the market leader for systemic chemical-free pain remedies with its brand families RubaXX^® for rheumatic pain and Restaxil^® for neuralgic pain. Furthermore, PharmaSGP also offers leading products against sexual weakness and vertigo symptoms. Since introducing the first product from the current product portfolio in 2012, PharmaSGP has successfully established its business model in other European countries, including Austria, Italy, Belgium, Spain and France. In September 2021, the product portfolio was expanded by the brands Baldriparan^®, Formigran^®, Spalt^® and Kamol^®, thus also strengthening or developing the indications pain and sleep disorder. The sales territory was expanded to include Switzerland and Eastern Europe. In 2023, PharmaSGP generated revenues of €101.1 million at an adjusted EBITDA margin of 33.7%.

In order to further expand its competitive position, PharmaSGP plans to increase the number of indications covered by PharmaSGP’s product offering, increase PharmaSGP’s European footprint, and accelerate its growth strategy especially by capitalizing on selected M opportunities.