Regulated information
Nazareth (Belgium)/Rotterdam (The Netherlands)1, 13 April 2017

Fagron: Turnover increases by 7.1% to € 109.9 million

Key points

  • Turnover growth in Europe, South America and in the sterile activities in North America
  • Sales of pharmaceutical raw materials in North America stabilize in first quarter of 2017
  • New facility for sterile compounding in Wichita (Kansas, US) operational since the end of March 2017

Hans Stols, Fagron CEO: "The sterile compounding activities in the United States and the activities in South America and Europe have developed positively in the last quarter. As a result of our strong, often leading, market positions within Europe, we were able to achieve turnover growth in almost all countries. The substantial strengthening of the Brazilian real relative to the US dollar has resulted in purchasing advantages for our activities in Brazil. Although our customers in Brazil benefited from lower sales prices, turnover increased at constant exchange rates. Our Brazilian activities were able to achieve significant growth in volume and to further strengthen its market leadership in Brazil.

Sales of pharmaceutical raw materials in the United States stabilised compared to the last quarter of 2016. This marks a clear turnaround compared to decreasing turnover during the last six quarters.

The new 503B compounding facility in Wichita (Kansas) has been operational since the end of March. The new facility is currently licensed in 43 states. As management, we are positive about the opportunities and potential this new facility offers. We anticipate that the facility will generate about 100 million US dollars of turnover within three to five years.

For 2017, we remain positive about the opportunities in the various markets in which we are active."

Turnover (x € 1,000) Q1 2017 Q1 2016 Total
growth		 Total
growth CER		 Org. growth Org. growth
CER
Fagron Europe 63,023 61,023 3.3% 3.0% 3.3% 3.0%
Fagron South America 25,136 19,529 28.7% 0.4% 28.7% 0.4%
Fagron North America 19,995 20,026 -0.2% -3.6% -0.2% -3.6%
Fagron (excl. HL Technology) 108,154 100,577 7.5% 1.2% 7.5% 1.2%
HL Technology 1,723 1,978 -12.9% -15.0% -12.9% -15.0%
Fagron Group 109,877 102,556 7.1% 0.9% 7.1% 0.9%
Divestment in France2 - 1,008 - - - -
Total 109,877 103,563 6.1% -0.1% - -

CER = constant exchange rates

1 This press release was sent out by Fagron NV and Fagron BV.
2 The divestment in France refers to the sale of a small compounding pharmacy in Marseille, as announced in the press release of 5 August 2016.

Please open the link below for the press release:

Fagron: Turnover increases by 7.1% to € 109.9 million


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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
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