PharmaSGP with strong revenues growth in 9M 2024 – revenues forecast for FY 2024 raised

PharmaSGP with strong revenues growth in 9M 2024 – revenues forecast for FY 2024 raised 

Gräfelfing, November 14, 2024 – In the third quarter of 2024, the German OTC pharmaceutical company PharmaSGP Holding SE was able to continue the dynamic business development of the first half of the year, generating revenues of €88.6 million in the first nine months of 2024 based on preliminary, unaudited figures. This represents an increase of 17.0% over the same period of the previous year (€75.7 million). The high-performance level of the already strong quarters of the first half of the year was confirmed in Q3 2024 with revenues of €30.2 million. With an increase of 9.4% compared to the previous year, adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) amounted to €27.0 million in the first nine months of 2024. Consequently, the adjusted EBITDA margin reached 30.5%.

CEO Natalie Weigand comments: “I am very pleased that we were able to build on the positive business development of the first half of the year in the third quarter despite a still difficult macroeconomic and geopolitical environment. This impressive growth trajectory underlines the effectiveness of our platform and the measures we have taken as part of our marketing strategy. Thanks to these measures, we have been able to launch new products on the market very successfully so far this year.”

CFO Michael Rudolf adds: “Both in terms of revenues and earnings, PharmaSGP has performed very well in the first nine months of the year. In particular, revenues growth has been dynamic, prompting us to raise our revenues guidance for the full year. Based on our strong structural and financial base, we are also very positive beyond the 2024 financial year and expect the company's successful development to continue.”

In light of the positive business development in the first nine months of the year, the Management Board of PharmaSGP has raised its revenues forecast and now expects revenues for fiscal year 2024 to be in the range of €112.0 million to €117.0 million (previous forecast: €107.0 million to €112.0 million). With regard to adjusted EBITDA, the Management Board continues to expect a figure between €35.0 million and €38.0 million. This corresponds to an adjusted EBITDA margin of 31.3% to 32.5%.

PharmaSGP will publish its full nine-months report 2024 on November 28, 2024.

 

OVERVIEW OF PRELIMINARY YEAR-ON-YEAR FIGURES

CONTACT

cometis AG
Jakob Hafer
Phone: +49-611-20585522
Email: ir@pharmasgp.com

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&A opportunities.