REG - Uniphar PLC - AGM Statement

UnipharAnnouncement

11/05/2023 07:00

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RNS Number : 0016Z  Uniphar PLC  11 May 2023

 

 

AGM Statement

 

 

Dublin, London | 11 May 2023

 

 

Uniphar plc (the "Group" or "Uniphar") is holding its AGM today at 11am BST at
the office of William Fry, LLP, 6th Floor, 2 Grand Canal Square, Dublin 2, D02
A342, Ireland.

 

At the AGM, Maurice Pratt, Chairman of Uniphar, will make the following
statement:

 

"I am pleased to say that 2022 was another successful year for Uniphar, with
further progress made towards our financial and strategic objectives. The
Group delivered a strong financial performance, in line with the Board's
expectations. Building on our robust performance in the previous year, the
Group delivered 5.7% organic gross profit growth, with organic growth across
all divisions and an outperformance in our Supply Chain & Retail division.
EBITDA increased to €98m reflecting reported growth of 13.4% and the Group
ended the year with strong liquidity and modest leverage of 1.0x, underpinning
the Group's disciplined approach to capital allocation and cash conversion.

 

During the year, we continued to make significant strategic progress across
each division and enhanced our platforms through both organic investment and
M&A that will ensure continued, resilient growth through 2023 and beyond:

 

§ In Product Access, the acquisitions of BModesto Group and Orspec Pharma
provide significant capability across continental Europe and the Asia Pacific
region. These assets, which we will continue to invest in, add significant
scale and reach to our global Product Access platform.

 

§ In Commercial & Clinical, Boston headquartered Inspired Health broadens
our service offering through high value market research consultancy services.
We also progressed our European commercialisation platform through an organic
investment in a highly skilled pan-European Medical Affairs team.

 

§ In Supply Chain & Retail, the acquisition of McCauley Pharmacy Group,
who are the Irish market leaders in health, wellbeing and beauty products,
adds significant capability to our higher margin retail offering. We also
announced a multi-year investment in a new distribution facility which will
future-proof our Supply Chain & Retail business and support future growth
across the wider Group.

 

Uniphar has traded in line with the Board's expectations in the first four
months of 2023 and remains well positioned to deliver organic gross profit
growth across all divisions and to deliver on expectations for the full year.

 

Sustainability continues to form a key part of Uniphar's culture and business
practices. Initiatives such as our hugely successful Unity for Hope charity
event, and the launch of our two Employee Resource Groups - the Rainbow
Alliance and the Women's Alliance demonstrate our commitment to creating a
sustainable workplace. Our teams also made progress under our Environmental
pillar, improving our carbon footprint initiatives and focusing on ways to
further decarbonise our business. We completed our first Scope 3 assessment,
highlighting the opportunity for a collaborative approach with our suppliers
to reduce our collective impact on the environment. Finally, our commitment to
maintaining the highest standards of corporate governance across the Group
continued in 2022, where the Board adopted the UK Corporate Governance Code,
achieving another important milestone on our journey as a publicly quoted
company.

 

The continued success of the business in 2022 could not have been delivered
without the commitment, ingenuity and "can-do" spirit of our Uniphar
colleagues worldwide, who continued to deliver for our customers, the
pharmacies, hospitals, manufacturers and patients we serve throughout 2022,
while navigating the various challenges presented during the period, including
unprecedented global cost inflation and supply chain disruption.

 

I would like to thank all of our Uniphar colleagues, management and my fellow
Directors for the huge effort they have put in over the past 12 months, and
for their continued dedication and commitment. Finally, I would like to thank
our shareholders, executive team and all our teams worldwide for their
loyalty, hard work and dedication during 2022."

 

--- ENDS ---

 

 

 

For further details contact:

 

 Uniphar Group                                            Tel: +353 (0) 1 428 7777

 Allan Smylie, Head of Strategy and IR

 Davy (Joint Corporate Broker, Nominated Advisor and      Tel: +353 (0) 1 679 6363

 Euronext Growth Listing Sponsor)

 Daragh O'Reilly

 Niall Gilchrist

 Ivan Murphy

 RBC Capital Markets (Joint Corporate Broker)             Tel: +44 (0) 20 7653 4000

 Jonathan Hardy

 Jamil Miah

 Stifel Nicolaus Europe Limited (Joint Corporate Broker)  Tel: +44 (0) 20 7710 7600

 Matt Blawat

 Ben Maddison

 Francis North

 Q4 PR                                                    Tel: +353 (0) 1 475 1444

 Iarla Mongey, Public Relations Advisor to Uniphar Group

 

 

 

 

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