16.09.2021 PharmaSGP Holding SE  DE000A2P4LJ5

DGAP-News: PharmaSGP: Product portfolio further expanded and internationalisation driven forward in H1 2021


DGAP-News: PharmaSGP Holding SE / Key word(s): Preliminary Results
PharmaSGP: Product portfolio further expanded and internationalisation driven forward in H1 2021

16.09.2021 / 07:30
The issuer is solely responsible for the content of this announcement.

PharmaSGP: Product portfolio further expanded and internationalisation driven forward in H1 2021
  • Group revenues (€ 26.4 million) and adjusted EBITDA (€ 6.5 million) impacted by an overall market burdened by Covid-19
  • Visible improvement in Q2 despite continued difficult market environment; market recovery expected in H2
  • Acquisition of Baldriparan(R), Formigran(R), Spalt(R) and Kamol(R) expands product portfolio, opens up new therapeutic areas and taps five new European markets
  • Full year guidance raised on September 15, 2021 due to the acquisition: revenues between € 60 million and € 65 million, adjusted EBITDA margin of 27-31 %

Gräfelfing, September 16, 2021 - PharmaSGP's half-year results continue to reflect the COVID-19 pandemic, especially the nationwide lockdowns that lasted until the second quarter. In the second quarter of 2021, however, PharmaSGP reported renewed revenue growth of 14.0% compared to the first quarter of 2021. PharmaSGP expects the OTC markets to recover in the second half of the year.

PharmaSGP's revenues for the first half year in total were still negatively affected, decreasing by 21.8 % to € 26.4 million (previous year: € 33.8 million). From the first to the second quarter, however, tangible growth of 14.0 % was recorded. In line with the overall market development, revenues in the strategically important "Health Brands" category reduced by 15.8 % to € 24.1 million (previous year: € 28.6 million). As expected, revenues in the "Beauty Brands" category, which was heavily affected by the pandemic, decreased by 54.8 % to € 2.3 million in the first half of the year (previous year: € 5.2 million). Earnings before interest, tax, depreciation and amortization adjusted for one-time costs and special effects (adjusted EBITDA)amounted to € 6.5 million (previous year: € 10.9 million) due to the revenue development. This corresponds to an adjusted EBITDA margin (measured against revenues) of 24.6 % (previous year: 32.1 %). Unadjusted EBITDA amounted to € 5.9 million.

"Nationwide lockdowns hit our target markets hard, resulting in less footfall in pharmacies, among other effects," comments CEO Natalie Weigand. She identifies significant growth opportunities for the second half of the year and for the future: "We have taken advantage of the difficult times and strategically expanded our platform by acquiring a product portfolio with four iconic brands. With Baldriparan(R), Formigran(R), Spalt(R) and Kamol(R), we have added four very well-known and popular brands to our platform. This has enabled us to further expand our "Health Brands" category and add new therapeutic areas - with Formigran(R), Spalt(R) and Kamol(R) we serve the important "pain" category. With Baldriparan(R) we have acquired the number one natural sleep aid in Germany."

"Thanks to this acquisition we have also tapped five new markets in Europe," adds Michael Rudolf, CFO of PharmaSGP. "With Switzerland, Hungary, Poland, the Czech Republic and Slovakia, we are now active in a total of eleven countries and have pushed ahead our internationalisation. Our platform enables us to optimally exploit the brands' potential, and our effective D2C marketing puts us in a position not only to boost revenue but also to achieve cost optimizations thanks to integration into our efficient business model."

The further course of the COVID-19 pandemic represents a key factor for the overall development and growth of PharmaSGP in 2021. It is assumed that no renewed negative impact will occur in the second half of 2021 in relation to the European OTC markets relevant for PharmaSGP. Due to the expansion of the product portfolio, the Management Board increased the forecast for the 2021 financial year on September 15, 2021. For the 2021 financial year, the Management Board now expects revenues of between € 60 million and € 65 million. Compared to the 2020 financial year, the adjusted EBITDA margin is expected to rise to between 27 % and 31 %. Further potential acquisitions are not included in the forecast.

PharmaSGP will publish the full half year financial report 2021 on September 30, 2021 on the company's website within the "Publications" section at ir.sgp-pharma.com.


Group figures (in € million) H1 2021 H1 2020
Revenues 26.4 33.8 -21.8%
Adjusted EBITDA 6.5 10.9 -40.2%
Unadjusted EBITDA 5.9 9.7 -39.1%
Adjusted EBITDA margin 24.6% 32.1%  
Unadjusted EBITDA margin 22.4% 28.8%  
Revenues by regions (in € million) H1 2021 H1 2020
Germany 17.9 24.6 -27.3%
Italy 3.6 4.1 -12.1%
Austria 3.5 3.1 +13.2%
Other European countries 1.5 2.1 -28.3%
Share of revenues by regions H1 2021 H1 2020
Germany 67.6% 72.7%  
Italy 13.6% 12.1%  
Austria 13.2% 9.1%  
Other European countries 5.6% 6.1%  
Revenues by product category (in € million) H1 2021 H1 2020
Health Brands 24.1 28.6 -15.8%
Beauty Brands 2.3 5.2 -54.8%



cometis AG
Claudius Krause
Phone: 49-611-20585528
Email: [email protected]



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 the 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(R) for rheumatic pain and Restaxil(R) 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(R), Formigran(R), Spalt(R) and Kamol(R), thus also strengthening or developing the indications pain and sleep disorder. The sales territory was expanded to include Switzerland and Eastern Europe.

In 2020, PharmaSGP generated revenues of EUR 63.2 million at an adjusted EBITDA margin of 26.9 %.

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.

16.09.2021 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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Language: English
Company: PharmaSGP Holding SE
Lochhamer Schlag 21
82166 Gräfelfing
E-mail: [email protected]
Internet: https://pharmasgp.com
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich
EQS News ID: 1233703

End of News DGAP News Service

1233703  16.09.2021 


Die wichtigsten Finanzdaten auf einen Blick
  2016 2017 2018 2019 2020 2021 2022
Umsatzerlöse1 0,00 53,06 60,59 62,57 63,25 65,34 85,82
EBITDA1,2 0,00 15,74 19,93 22,82 14,73 18,49 26,93
EBITDA-Marge3 0,00 29,66 32,89 36,47 23,29 28,30 31,38
EBIT1,4 0,00 15,33 19,55 22,42 14,25 14,92 17,68
EBIT-Marge5 0,00 28,89 32,27 35,83 22,53 22,83 20,60
Jahresüberschuss1 0,00 11,78 14,73 16,71 10,64 10,69 11,95
Netto-Marge6 0,00 22,20 24,31 26,71 16,82 16,36 13,92
Cashflow1,7 0,00 14,25 8,43 17,63 15,46 12,24 24,71
Ergebnis je Aktie8 0,00 0,98 1,23 1,39 0,89 0,89 1,00
Dividende8 0,00 0,00 0,00 0,00 0,00 0,45 0,49
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2022 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: PricewaterhouseCoopers

PharmaSGP Holding
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A2P4LJ 18,950 - 227,40
KGV 2024e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
12,63 21,26 0,72 21,04
7,41 9,20 2,65 9,94
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
0,49 0,58 3,06 28.06.2023
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
26.05.2023 28.09.2023 28.11.2023 27.04.2023
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-12,24% -26,05% -28,76% -22,97%
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