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Press Release

Fagron realises turnover of € 103.4 million

Fagron NV
Posted on: 12 Oct 16

Regulated information
Waregem (Belgium) / Rotterdam (The Netherlands), 12 October 2016

Fagron realises turnover of € 103.4 million

Developments new facility in Wichita in line with expectations

During the third quarter of 2016, Fagron Grouprealised a consolidated turnover from continued operations of € 103.4 million, a decrease of 1.1% (-2.7% at constant exchange rates) compared to the third quarter of 2015. In the first nine months of 2016, the consolidated turnover from continued operations decreased by 2.5% (+0.6% at constant exchange rates) to € 313.6 million. Organic turnover from continued operations showed a decline of 5.2% (-2.2% at constant exchange rates).

Turnover (x € 1,000)Q3 2016Q3 2015 Total
growth
Total
growth
CER
Org.
growth
Org.
growth
CER
Fagron101,862102,719-0.8%-2.5%-0.8%-2.5%
HL Technology1,5381,818-15.4%-14.7%-15.4%-14.7%
Fagron Group (continued operations) 103,401 104,537 -1.1% -2.7% -1.1% -2.7%
Discontinued operations-19,001-100%-99.9%-100%-99.9%
Total103,400113,538-8.9%-10.4%-8.9%-10.4%

Turnover (x € 1,000)9M 20169M 2015 Total
growth
Total
growth
CER
Org.
growth
Org.
growth
CER
Fagron307,540314,216-2.1%1.0%-4.9%-1.9%
HL Technology6,0977,317-16.7%-14.2%-16.7%-14.2%
Fagron Group (continued operations) 313,637 321,534 -2.5% 0.6% -5.2% -2.2%
Discontinued operations4,15835,772-88.4%-88.4%-88.4%-88.4%
Total317,795357,305-11.1%-8.3%-13.3%-10.6%


CER = constant exchange rates


Hans Stols, CEO Fagron : "The sterile activities of Fagron Specialty Pharma Services (FSPS) in the United States and the activities in South America and Rest of World have developed positively in the last quarter. Turnover in Europe remained below the level of the unusually strong third quarter of 2015.

In the US, turnover of Fagron Essentials and Fagron Trademarks have been negatively impacted as a result of  both the changed reimbursement system and the initiated process to integrate Freedom Pharmaceuticals and Fagron Inc., to be centralised in Minneapolis.

In the period under review we have made good progress with the expansion of the FSPS sales team in the United States, which is now practically fully deployable. Validation of the products for the new Wichita facility is proceeding as planned. It is expected that the facility will have received all required licences and will have completed the validation processes early 2017.

Recently the Board of Directors has initiated the process to explore strategic options for HL Technology. After completion of their findings, we will inform the market."

Please open the link below for the press release:

Fagron realises turnover of € 103.4 million


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Fagron NV via GlobeNewswire
HUG#2048417
GlobeNewswire
globenewswire.com

Last updated on: 13/10/2016

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