Press release
 

Medios AG: Record revenue and earnings – Guidance 2022 achieved; further growth expected in financial year 2023

Preliminary figures 2022 and outlook for 2023

• Consolidated revenue 2022 of around €1.6 billion at upper end of guidance
• EBITDA pre¹ 2022 rises by 43% to around €55 million with simultaneous significant improvement in EBITDA pre¹ margin to around 3.4% (previous year: 2.8%)
• Strong operating cash flow of over €37 million in 2022 despite negative one-time effects
• Significant expansion of the distribution network to currently around 700 specialized partner pharmacies
• New laboratories substantially expand compounding capacity
• Solid liquidity as well as syndicated loan of €75 million for at least five years to finance future growth and to actively participate in market consolidation
• Forecast 2023: Revenue increase up to €1.8 billion, EBITDA pre¹ increase to up to €63 million

Berlin, February 22, 2023 – Based on preliminary and unaudited figures, Medios AG ("Medios"), the leading provider of Specialty Pharma Solutions in Germany, again grew strongly in the 2022 financial year. In the period from January to December 2022, consolidated revenue increased by approximately 18.7% to around €1.61 billion (previous year: €1.36 billion) due to inorganic and organic growth according to preliminary figures (IFRS) and is thus at the upper end of the forecast. EBITDA pre¹ improved disproportionately by 42.8% to €54.9 million (previous year: €38.4 million). As a result, the EBITDA pre¹ margin increased significantly to 3.4% (previous year: 2.8%).

Matthias Gaertner, Chief Executive Officer (CEO) of Medios AG: "The course of the 2022 financial year presented us a number of challenges with the outbreak of war in Ukraine, increased inflation, high energy costs and regulatory changes. I am therefore all the more pleased that we can present a very successful 2022 financial year together as a team despite the external influencing factors that are difficult to calculate.

With the integration of the NewCo Pharma Group, we have sustainably strengthened our unique position as a nationwide network of GMP laboratories in Germany and set the course for further growth and a sustainable increase in profitability.

As market leader, we have the experience and critical size to deal with the usual challenges in the growing Specialty Pharma market. As such, 2023 will continue to be a year of growth for us."

Positive outlook for the financial year 2023
Medios expects continued dynamic growth due to the high demand for Specialty Pharma drugs. Additionally, Medios AG is receiving tailwind from the ongoing trend of market consolidation – particularly through the acquisition of compounding volumes from pharmacies. According to Medios, this development will be accelerated by regulatory changes. 

In the 2023 financial year, Medios therefore expects consolidated revenue of €1.6 – 1.8 billion, corresponding to an increase of up to 11.8% year-on-year. EBITDA pre1 is expected to be in the range of €56 – 63 million. The increase represents growth of up to 14.8% compared to the previous year. This results in a further increase in the EBITDA pre1 margin.

The special charges adjusted in the EBITDA pre¹ forecast for 2023 include – as in the previous year – expenses for stock options and M&A activities as well as one-off performance-related payments for the acquisition of compounding volumes in 2023 and 2024 (in the expected amount of €5.7 million in each case), which are part of the cooperation agreement in connection with the bbw transaction concluded in January 2023.

Medios' growth strategy is based on three pillars: In addition to strengthening its core business in Germany, the company intends to expand drug manufacturing into other European countries. In addition, Medios plans to further diversify its business model by entering into the manufacture of personalized medicine. With this strategy, the goal is to increase revenue to over €2 billion in the medium term – with an EBITDA pre¹ margin in the mid-single digits.

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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. 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

[email protected]

www.medios.ag

Anna Höffken

Senior Consultant Investor & Public Relations

Kirchhoff Consult AG

Borselstraße 20 | 22765 Hamburg

T +49 40 609 186 34

[email protected]

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.