PharmaSGP Holding SE: Annual General Meeting approves full distribution of the Group’s profit for 2023 following a successful business performance

EQS-News: PharmaSGP Holding SE / Key word(s): AGM/EGM
PharmaSGP Holding SE: Annual General Meeting approves full distribution of the Group’s profit for 2023 following a successful business performance
27.06.2024 / 09:45 CET/CEST
The issuer is solely responsible for the content of this announcement.

PharmaSGP Holding SE: Annual General Meeting approves full distribution of the Group’s profit for 2023 following a successful business performance

• 89.74% of the share capital was represented; all agenda items were approved
• Shareholders approve increased dividend distribution of €1.36 per dividend-bearing share
• The appointment of Peter Gerckens as Chief Commercial Officer to the Management Board underscores PharmaSGP's growth ambitions

Gräfelfing, June 27, 2024 – German OTC pharmaceutical company PharmaSGP Holding SE successfully held its Annual General Meeting 2024 in Munich yesterday. This year's Annual General Meeting was held as an in-person event for the first time since the IPO in 2020. 89.74% of the share capital was represented. All agenda items were approved by the Annual General Meeting.

At the Annual General Meeting, the Management Board reported on the successful business performance in 2023. For the first time in the company's history, revenues exceeded the €100 million mark, amounting to €101.1 million in total and increasing by 17.8% compared to the previous year (€85.8 million). Adjusted EBITDA also increased by 20.8% from €28.2 million in 2022 to €34.1 million in the 2023 financial year. The adjusted EBITDA margin thus improved year-on-year from 32.9% to 33.7%.

This year again, PharmaSGP shareholders will participate in this strong business performance in the form of a full distribution of the Group’s profit for 2023. The dividend therefore amounts to €1.36 per dividend-bearing share. The corresponding proposal was approved by the Annual General Meeting with 100%.

PharmaSGP continued its dynamic business development in the first quarter of 2024 and is well on track for another year of profitable growth. The high expectations for further business development are also underlined by the appointment of Peter Gerckens to the Management Board, where he will hold the newly created position of Chief Commercial Officer (CCO) from July 1, 2024. In his role as CCO, Peter Gerckens will be responsible for the expansion of international markets, sales and new businesses at PharmaSGP.

CEO Natalie Weigand comments: "We can look back on an exceptionally successful financial year, which is reflected not least in the distribution of a highly attractive dividend. We want to continue to build on this in the future. With the appointment of Peter Gerckens as Chief Commercial Officer, we are gaining another expert for PharmaSGP who will make a significant contribution to further accelerating our growth path." Michael Rudolf, CFO of PharmaSGP, adds: "In 2023, we exceeded our forecast in terms of both revenues and adjusted EBITDA and significantly outperformed the market. In addition to our well-proven pan-European platform, PharmaSGP has a strong financial profile in particular, which gives us the necessary leeway to realize further growth and make optimal use of the potential of our business model."

For the 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%.

The detailed voting results for the Annual General Meeting 2024 are available for download on PharmaSGP's corporate website in the Investor Relations / Annual General Meeting section.

CONTACT

cometis AG
Claudius Krause
Phone: +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 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.

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