Brief: Fagron Q3 Revenue Up At EUR 173 Million

Fagron NV

13/10/2022 06:12

Oct 13 (Reuters) - Fagron NV  FAGRO.BR :
    * REG-FAGRON DELIVERS TOPLINE GROWTH OF 21.5% TO €173
MILLION
    * Q3 REVENUE INCREASED BY 21.5% TO EUR 173 MILLION (10.7% AT
CER)
    * STRONG UNDERLYING DEMAND IN NORTH AMERICA AFFECTED BY
GLOBAL
SUPPLY CHAIN SHORTAGES
    * ORGANIC REVENUE GROWTH OF 11.5% FOR Q3 2022 AND 13.5% FOR
9M
2022
    * WE REMAIN CONFIDENT ABOUT PROSPECTS OF OUR BUSINESS
GLOBALLY AND
REITERATE OUR FY 2022 AND MID-TERM GUIDANCE PROVIDED EARLIER IN
YEAR
    * GIVEN SYRINGE SHORTAGES ARE LIKELY TO LINGER, WE EXPECT
OUR
WICHITA RUN RATE TO REMAIN AT CURRENT LEVELS THROUGH Q4, DESPITE
STRONG UNDERLYING DEMAND, AND ACHIEVE AT LEAST US$95M
(ANNUALIZED) AT END OF PERIOD
    * COMBINING THIS WITH RECENTLY ACQUIRED 503B OUTSOURCING
FACILITY
IN BOSTON, WHERE WE HAVE MADE STRONG PROGRESS BY UTILIZING OUR
COMMERCIAL EXPERTISE AT WICHITA AND HAVE ONBOARDED SEVERAL NEW
CLIENTS, WE EXPECT JOINT RUN RATE BY END OF YEAR TO BE ABOVE
US$110M
    * WE EXPECT FY 2022 REVENUE OF BETWEEN €670 AND €690 MILLION
AND A
HIGHER REBITDA MARGIN IN THE SECOND HALF OF THE YEAR COMPARED TO
THE FIRST HALF OF THE YEAR
    * OUR MEDIUM-TERM OBJECTIVES REMAIN UNCHANGED

Source text for Eikon:  ID:nGNEbKqB1B 
Further company coverage:  FAGRO.BR 
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