PharmaSGP successfully secures financing of up to € 160 million

DGAP-News: PharmaSGP Holding SE / Key word(s): Financing
PharmaSGP successfully secures financing of up to € 160 million
21.07.2022 / 07:29
The issuer is solely responsible for the content of this announcement.

PharmaSGP successfully secures financing of up to € 160 million

Gräfelfing, 21 July 2022 – Following strong organic growth and the successful acquisition and integration of the four OTC brands Baldriparan®, Formigran®, Spalt® and Kamol® formerly owned by the GlaxoSmithKline Group (GSK) in the second half of 2021, PharmaSGP Holding SE achieved record sales valued at € 65.3 million in the past financial year. Investors have shared in this success in the form of a dividend amounting to 50.5 % of Group earnings for the period. Once again in the first quarter of 2022, the company continued its dynamic corporate growth seen in previous periods, increasing its sales by 67% relative to the preceding year. With regard to the full year 2022, the German pharmaceutical company is targeting sales of between € 78 million and € 82 million with an adjusted EBITDA margin of 30 to 33%, measured against turnover.

Meanwhile the next milestone has been successfully accomplished on schedule in mid-2022 with the arrangement of a five-year syndicated financing package involving four partner banks. The new syndicated loan will on the one hand redeem the company’s existing debt in the amount of € 85 million that were used to finance the GSK acquisition and replace these with a long-term structure. While on the other hand, with immediate effect PharmaSGP now also has additional potential financing of up to € 75 million available to strengthen its unique European marketing platform with further acquisitions.

CFO Michael Rudolf commented: “The smooth integration of the GSK portfolio and the highly dynamic development in our business in the past quarters offer impressive proof that through targeted acquisitions, we are able to create significant value added for our investors. This is due to the fact that PharmaSGP possesses a scalable, pan-European platform with established processes and structures that enables us to integrate new brands with great success. Besides strong organic growth, we shall continue to favour the expansions of both sales and earnings through selective M&A activities. The new financing structure gives us long-term financial and planning security as well as the flexibility we need for our continued investments.”

CONTACT

cometis AG
Claudius Krause
Telephone: +49-611-20585528
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 2021, PharmaSGP generated revenues of € 65.3 million at an adjusted EBITDA margin of 29.7%.

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.

21.07.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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