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Medios AG: Publication of the half-year report 2020

DGAP-News: Medios AG / Key word(s): Half Year Results/Interim Report
25.08.2020 / 07:29
The issuer is solely responsible for the content of this announcement.

Press release

Medios AG: Publication of the half-year report 2020

  • Dynamic revenue growth in the first half of 2020
  • Earnings burdened by Corona-related special effects
  • New growth opportunities through expansion of the indication areas

Berlin, 25 August 2020 - Medios AG ("Medios"), one of the leading Specialty Pharma companies in Germany, has continued its dynamic sales growth in the first half of 2020. According to the half-year report published today, group sales in the period from January to June 2020 increased by 28.2% to €292.9 million (previous year €228.5 million) compared to the same period of the previous year. The results were burdened by corona-related special effects and growth investments. Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for extraordinary expenses*, amounted to €6.5 million (previous year €7.7 million). Consolidated earnings before taxes (EBT), adjusted for extraordinary expenses*, amounted to €4.9 million (previous year €6.8 million). The key figures thus correspond to the preliminary half-year figures already published on 5 August 2020. Medios confirms the forecast adjusted at the beginning of August: Corona-related special effects will continue in the second half of 2020 - but the company still expects dynamic sales growth.

In the first half of 2020, the Pharmaceutical Supply segment recorded a 28.3% increase in sales revenues to €262.1 million (previous year €204.3 million). Sales in the Patient-specific Therapies segment rose by 26.7% to €30.6 million (previous year: €24.2 million). The internal Services segment achieved sales of €0.2 million (previous year €0.1 million).

Manfred Schneider, CEO of Medios AG: "The general conditions for Medios have become more challenging in the first half of 2020. Nevertheless, we were able to increase our sales by almost 30 percent. The current demand situation makes us confident to continue the dynamic growth in the future and to close the financial year 2020 with a significant sales increase."

Corona-related special effects
In the first quarter of 2020, the increasing spread of the corona pandemic led to supply bottlenecks for so-called supply-relevant drugs. As a result, the Federal Institute for Drugs and Medical Devices (Bundesinstitut für Arzneimittel und Medizinprodukte, BfArM) noted "excessive stockpiling by individual market participants". In order to counteract an "unequal distribution", the BfArM issued an order in March 2020 requesting pharmaceutical companies and wholesalers to "not supply drugs beyond normal demand". The consequence was that the wholesale trade was supplied with drugs on the basis of the previous year's delivery quantities. As a result, Medios was unable to achieve the sales growth possible according to demand.

The ordered quota allocation of supply-relevant drugs also led to a deterioration in purchasing conditions for pharmaceutical wholesalers in terms of higher purchase prices. However, Medios did not pass these on to partner pharmacies in order to be able to supply customers as usual during the Corona pandemic. This effect continued unexpectedly throughout the entire second quarter, resulting in lower profit margins than planned.

According to the BfArM, the ordered measures apply "for the period of the corona pandemic".

Growth and special effects
The expenses for future growth as well as one-time special effects amounted to a total of about €3.4 million for the first half of 2020. These included in particular M&A activities, such as the already completed takeover of Kölsche Blister GmbH, which extends the Medios business model to include patient-individual blistering, as well as the preparation of the IT infrastructure for the introduction of the e-prescription. This is to be largely mandatory from 2022. In addition, Medios will supply another indication area, hemophilia, from September 2020. Due to a new regulation of distribution channels, hemophilia preparations may only be distributed to patients via pharmacies as of September 2020. This will enable Medios to supply partner pharmacies with corresponding drugs in the future and to further expand the partner network.

Matthias Gärtner, CFO of Medios AG: "With the already completed takeover of Kölsche Blister GmbH and the pharmacy obligation for hemophilia preparations, which will become effective in September, two highly attractive markets are opening up for Medios. By developing these markets we can put our growth on an even broader basis."

Despite the challenging market environment, Medios continues to expect dynamic sales growth. The company assumes that the extraordinary corona-related special effect in connection with the quota allocation will continue in the second half of 2020 and will burden the company's earnings.

According to the forecast adjusted on 5 August 2020, Medios expects consolidated sales for the 2020 financial year - including the acquisition of Kölsche Blister GmbH in March 2020 - to amount to around €610 to 630 million. In addition, Medios expects an adjusted EBITDA* of around €14 to 15 million and an adjusted EBT* of around €11.5 to 12.5 million. Furthermore, the company remains optimistic that it will be able to reach the one billion € mark in sales by 2023 at the latest.

The half-year financial report 2020 of Medios AG is available for download on the website

* EBITDA and EBT are adjusted for special expenses for stock options and depreciation of the customer base.


About Medios AG
Medios AG is one of the leading Specialty Pharma companies in Germany. As a specialist for the provision of Specialty Pharma drugs to patients, GMP-certified provider of patient-specific therapies and innovative analytical methods, Medios covers substantial elements of the supply chain in this field and follows the highest international quality standards. Usually, Specialty Pharma drugs are high-priced medicines for rare and/or chronic diseases. Patient-specific therapies are, for example, infusions that are compiled and produced on the basis of individual diseases and parameters like body weight and surface. In the field of drug safety, NIR spectroscopic analysis methods (NIR: Near infrared) are used to distinguish marketable finished drugs from drug counterfeits. It is Medios' aim to provide integrated solutions along the value chain to partners and clients, thereby ensuring an optimal pharmaceutical care for patients.

Medios AG is Germany's first publicly listed Specialty Pharma company. The shares (ISIN: DE000A1MMCC8, DE000A288821) are listed in the Regulated Market of the Frankfurt Stock Exchange (Prime Standard).

Medios AG
Claudia Nickolaus
Head of Investor & Public Relations
Heidestraße 9
10557 Berlin
Phone: +49 30 232566800
Fax: +49 30 232566801

Kirchhoff Consult AG
Nikolaus Hammerschmidt
Borselstraße 20
22765 Hamburg
Phone: +49 40 60918618
Fax: +49 40 60918660

This notification contains forward-looking statements that are subject to certain risks and uncertainties. Future results may significantly deviate from currently expected results, specifically due to various risk factors and uncertainties such as changes in business, economic, and competitive circumstances, exchange rate fluctuations, uncertainties about legal disputes or investigations, and the availability of financial resources. Medios AG assumes no responsibility whatsoever for updating the forward-looking statements contained in this notification.

25.08.2020 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: Medios AG
Heidestraße 9
10557 Berlin
Phone: +49 30 232 566 - 800
Fax: +49 30 232 566 - 801
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf
EQS News ID: 1122597

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Last Updated: 25-Aug-2020