Regulated information - inside information
Nazareth (Belgium)/Rotterdam (The Netherlands), 10 October 2024 - 7:00 AM CET
Fagron reports outstanding third quarter 2024 performance with 12.1% revenue growth and reaffirms full-year outlook
Fagron, the leading global player in pharmaceutical compounding today publishes its quarterly results for the period ending 30 September 2024.
Key Highlights
- Continued topline momentum with 12.1% reported revenue growth (15.7% at CER) and 12.2% organic growth at CER, delivering €214.5 million
- Strong organic growth across all regions and segments, underscoring the strength of our structural growth drivers
- Global operational excellence initiatives remain a key contributor to revenue development
- Three strategic acquisitions signed across all regions and segments: Purifarma (B&E, Brazil), Ritedose (CS, North America), EuroOTC (B&E, Germany)
- Maintain FY 2024 revenue outlook of €850 - €870 million and improvement in profitability year-on-year
Rafael Padilla, CEO of Fagron:
Q3 has been another strong period for Fagron, highlighting the strength of our business model and the consistent execution of our strategy. Our focus on operational excellence and targeted growth investments continues to deliver positive results across all regions.
In EMEA, we have delivered an improving performance, driven by our diversified business model, and Poland remains resilient as we continue to advance on our strategic initiatives. Latin America saw accelerated growth, especially in Brazil, benefitting from our commercial and operational excellence efforts. North America remains a key driver of growth, with Compounding Services and B&E both delivering very strong results.
We are also pleased to announce the signing of three acquisitions, which support our goal of securing market leadership globally. With the acquisition of Purifarma in Brazil, and EuroOTC, a raw material business in Germany, we are progressing towards our objective of global leadership in B&E. Lastly, we acquired a book of business from Ritedose in North America, which has a fully compatible product portfolio with FSS. We remain committed to exploring market opportunities globally, while maintaining our disciplined M&A approach.
Looking to the end of the year, we are confident in our outlook and reiterate our full-year 2024 and mid-term guidance."
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