Fagron: Turnover increases by 7.1% to € 109.9 million

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

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Source: Fagron NV via Globenewswire