Fagron continues strong turnover growth of first semester in the third quarter of 2018

Regulated information
Nazareth (Belgium)/Rotterdam (the Netherlands)¹, 11 October 2018

Fagron continues strong turnover growth of first semester in the third quarter of 2018

Fagron realises organic turnover growth of 10.1%

Key points

• Turnover increases by 11.8% to € 114.9 million
• Europe: Innovation-driven growth of Brands
• North America: Very strong growth at all activities
• South America: Solid growth of Brands and Essentials

Rafael Padilla, CEO of Fagron: "In the third quarter of 2018, Fagron once again showed a strong performance. Turnover at constant exchange rates increased organically by 10.1% in the third quarter, mainly driven by our operations in North America and South America.

In North America and South America, all activities showed a very strong turnover growth. Europe contributed solidly as well. In all, we are satisfied with these developments. Strategically, we also made good progress. We see that the strategic focus on Brands, which was started in all regions this year, has also led to substantial turnover growth in the third quarter. The development in the Wichita facility remained strong. In the third quarter, good progress was made with the integration of Humco in North America, which was acquired in April of 2018. We also invested in one of the compounding facilities in the Netherlands, which will temporarily decrease capacity and turnover, but which will greatly improve the quality of both the facility and the processes.

The coming years, we will continue to expand our leading market positions in Europe, North America and South America through innovation-driven organic growth and strategic acquisitions. We are convinced that our strategic focus will offer significant value to our shareholders and other stakeholders.

With confidence we look towards the last months of the year. Fagron is expected to end the year 2018 well and is excellently positioned for further growth in 2019."

Please open the link below for the press release:
Fagron continues strong turnover growth of first semester in the third quarter of 2018

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Source: Fagron NV via Globenewswire