Medios AG continues growth course in the first nine months of 2022 – guidance for the 2022 financial year confirmed

EQS-News: Medios AG / Key word(s): 9 Month figures/Quarterly / Interim Statement
Medios AG continues growth course in the first nine months of 2022 – guidance for the 2022 financial year confirmed
10.11.2022 / 07:48 CET/CEST
The issuer is solely responsible for the content of this announcement.

Press release

Medios AG continues growth course in the first nine months of 2022 – guidance for the 2022 financial year confirmed

• Strong inorganic and organic growth; seventh record quarter in a row
• Operating cash flow positive in both the third quarter of 2022 and the first nine months of the year
• Significant increase in capacity for compounding patient-specific therapies due to manufacturing permit granted for new laboratory in Berlin
• Guidance for the 2022 financial year confirmed despite regulatory price adjustment

Berlin, November 10, 2022 – Medios AG ("Medios"), the leading provider of Specialty Pharma Solutions in Germany, again reported strong growth in the period from January to September 2022. Consolidated revenue increased by 22.5% year-on-year to €1,211.4 million in the first nine months (previous year: €988.8 million). EBITDA pre¹ rose disproportionately by 55.1% to €43.8 million (previous year: € 28.2 million); the margin improved accordingly to 3.6% (previous year: 2.9%). Revenue and earnings thus once again reached record levels, in line with market expectations. Both operating segments contributed to the growth in revenue and earnings. Based on the strong business development, Medios AG confirms its revenue and earnings guidance for the full year 2022 despite regulatory adjustments.

The Medios Group's revenue growth of around 23% in the period from January to September 2022 is attributable in particular to inorganic growth from the integration of the NewCo Pharma Group (around 16 percentage points), while 7 percentage points were attributable to organic growth. With the acquisition of the NewCo Pharma Group, which was completed in January 2022, Medios has strengthened the Patient-Specific Therapies segment in particular.

Cash flow from operating activities amounted to €17.9 million in the period from January to September 2022 (previous year: €40.4 million) and was impacted by one-time special effects and the strategic build-up of inventories in the first half of the year. Medios expects further sales of the inventories built up in the pharmaceutical trade in the fourth quarter and therefore further positive effects on the operating cash flow.

Matthias Gärtner, CEO of Medios AG: "I am very proud that we are developing so positively in an environment that continues to be challenging. The third quarter of 2022 was the seventh record quarter in a row. We were able to significantly increase profitability and sustainably strengthen key balance sheet items. We will be able to significantly expand our high-margin business with patient-specific therapies as a result of the recently granted manufacturing license for our new state-of-the-art laboratory in Berlin. This positions us very well for further growth."

In the first nine months of 2022, Medios also made further progress in the roll-out of its innovative digital trading platform for individualized medicines "mediosconnect". It is now available in five federal states. More than 30 new practices were won as users and the number of orders placed via "mediosconnect" increased by around 20%.

At the end of October, Medios received the manufacturing permit for the new GMP (Good Manufacturing Practice) clean room laboratory in Berlin from the responsible authority (LaGeSo: “Landesamt für Gesundheit und Soziales”). As a result of this and the integration of NewCo Pharma with five laboratory sites, the compounding capacity of the Medios Group in the higher-margin Patient-Specific Therapies segment will increase to up to 600,000 preparations per year (pro forma 2021: Medios including NewCo Pharma around 320,000 preparations).

Positive outlook for 2022 confirmed

Medios AG confirms its guidance for the 2022 financial year despite ongoing global uncertainties. The Company expects revenue to reach the upper end of the range of €1.45 – 1.6 billion (increase of up to 17.9% compared to 2021). EBITDA pre¹ is expected to reach the lower half of the range of €52 – 58 million (increase of 35.3% to 50.9% compared to 2021). The reason for this is the auxiliary tax (so-called Hilfstaxe), which regulates the purchasing conditions and manufacturing prices for compounding of patient-specific preparations. According to current projections, the reduced purchase prices from September 1, 2022, and the adjusted manufacturing prices for the compounding of patient-specific therapies from October 17, 2022, will lead to a reduction in EBITDA pre¹ of approximately €3.2 - 3.6 million in the 2022 financial year.

Important events for Medios AG in the 2022 financial year:

November 16: Warburg Conference – Berlin

November 24: Medios Capital Markets Day – Berlin

December 07: Berenberg European Conference 2022 – Pennyhill Park, Surrey, Great Britain

¹EBITDA is defined as net earnings for the period before interest, income taxes, depreciation and amortization. EBITDA pre is adjusted for extraordinary expenses for stock options and M&A activities.

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About Medios AG

Medios AG is the leading provider of Specialty Pharma Solutions in Germany. As a competence partner and expert, Medios covers all relevant aspects of the supply chain in this field: from pharmaceutical supply to the manufacture of patient-specific therapies including blistering. The focus is on optimal patient care via specialized pharmacies.

Medios AG is Germany's first listed Specialty Pharma Company and is included in the SDAX selection index. The shares (ISIN: DE000A1MMCC8) are listed on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard).

 www.medios.ag

Contact

Claudia Nickolaus

Head of Investor & Public Relations, ESG Communications

Medios AG

Heidestraße 9 | 10557 Berlin

T +49 30 232 566 800

c.nickolaus@medios.ag

www.medios.ag

Anna Höffken

Senior Consultant Investor & Public Relations

Kirchhoff Consult AG

Borselstraße 20 | 22765 Hamburg

T +49 40 609 186 34

anna.hoeffken@kirchhoff.de

www.kirchhoff.de

Disclaimer

This communication contains forward-looking statements that are subject to certain risks and uncertainties. Future results could differ materially from those currently anticipated as a result of various risk factors and uncertainties, including, but not limited to, changes in business, economic and competitive conditions, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings and the availability of financing.

10.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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