PharmaSGP successfully holds first AGM after IPO
DGAP-News: PharmaSGP Holding SE
/ Key word(s): AGM/EGM
At the Annual General Meeting, the Management Board reported in detail on revenue and earnings development in the 2020 fiscal year. Despite the negative impact of the Covid-19 pandemic on PharmaSGP's target markets, revenues in the "Health Brands" category were up by 11.8 % to EUR 54.8 million (previous year: EUR 49.0 million), thereby outperforming the overall market.
PharmaSGP reached a milestone on its targeted growth path with the acquisition of a product portfolio from the GlaxoSmithKline Group, a deal that was signed last week. The focus of the portfolio, which consists of four established OTC brands in eight countries, is on the herbal medicine products of the Baldriparan(R) brand, which in German pharmacies is the leading OTC brand for natural valerian sleeping aids. In addition, PharmaSGP GmbH acquired Formigran(R), Spalt(R) and Kamol(R), three further well-known OTC brands in the strategically important "pain therapy" category. In 2020, the brand portfolio generated more than EUR 15 million in revenues in Germany, Austria, Switzerland, France, Hungary, Poland, the Czech Republic and Slovakia. The purchase strengthens PharmaSGP's "Health Brand" category, opens up new indication areas, and also expands PharmaSGP's number of sales markets. The acquired products will now be integrated into the PharmaSGP Group's pan-European platform, which will enable numerous synergy effects to be leveraged in the future.
"The purchase of this product portfolio reflects a consistent pursuit of our growth strategy. By integrating established brands into our pan-European platform, we are able to leverage value creation potential. For example, our lean cost structures enable us to achieve improvements in earnings and increase our revenues through our effective D2C marketing and high target group reach," explains Natalie Weigand, CEO of PharmaSGP.
Michael Rudolf, CFO of PharmaSGP, adds: "We are very pleased with the active participation of our shareholders at our Annual General Meeting. Notwithstanding the challenges the pandemic has posed to both us and the sector, we believe our business model positions us extremely well in terms of achieving our growth objectives."
The detailed voting results for the 2021 Ordinary Annual General Meeting can be downloaded from PharmaSGP's corporate website, within the Investor Relations / Annual General Meeting area.
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.
PharmaSGP generated revenues of EUR 63.2 million at an adjusted EBIT margin of 26.1 % in 2020.
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.
25.06.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||PharmaSGP Holding SE|
|Lochhamer Schlag 21|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich|
|EQS News ID:||1211803|
|End of News||DGAP News Service|