PharmaSGP achieves record revenues in 2021 and exceeds analysts' expectations

Gräfelfing, 17 February 2022 - German OTC pharmaceutical company PharmaSGP achieved revenues of around € 65 million in the financial year 2021, reaching the upper end of the published guidance (€ 60 million to € 65 million). With the highest revenue in its company history PharmaSGP also exceeded the expectations of analysts at Berenberg and Royal Bank of Canada (RBC). The analysts had raised their forecast only in September last year, after PharmaSGP announced the successful acquisition of a brand portfolio (including Baldriparan^(R), Spalt^(R), Formigran^(R)) from the pharmaceutical group GlaxoSmithKline (GSK). Based on revenues, PharmaSGP still expects an adjusted EBITDA margin of between 27% and 31% for 2021.

"The strong growth dynamic from the third quarter continued at the end of the year," states CFO Michael Rudolf. CEO Natalie Weigand adds: "In addition to the growth of our organic business in the second half of the year, the portfolio acquired from GSK around Baldriparan^(R), Spalt^(R) and Formigran^(R) was also able to provide additional growth impulses in the fourth quarter."

"We expect the acquired portfolio to show its true potential in 2022 and to add momentum to our growth path," CFO Michael Rudolf further commented. "We will publish our revenue and earnings forecast for the current 2022 financial year in March. With our strong existing portfolio and the newly acquired brands, I see good conditions for the successful continuation of our strategy focused on long-term growth in a market environment that is benefiting from increasing self-medication."

PharmaSGP will publish its preliminary results for the 2021 financial year on 15 March 2022.

Contact

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

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 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 € 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.