REG - Uniphar PLC - AGM Statement

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11/05/2022 08:15

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RNS Number : 0157L  Uniphar PLC  11 May 2022

 

 

AGM Statement

 

 

Dublin, London | 11 May 2022

 

 

Uniphar plc (the "Company" 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 2021 was another successful year for Uniphar. The
Group delivered a strong financial performance, in line with the Board's
expectations, during what was another uncertain and at times challenging
period globally. Building on a strong performance in the previous period, the
Group delivered 8.5% organic gross profit growth, with growth across all
divisions in line with, or ahead of, divisional guidance. EBITDA increased to
€86.5m reflecting reported growth of 30% and the Group ended the year with
strong liquidity and modest leverage of 0.7x.

 

Uniphar's ability to consistently deliver for our partners demonstrates the
diversity of the Group's service offering and the benefit of the Group's focus
and investment in technology platforms. We continued to advance our strategic
objectives during 2021, building out our global Product Access platform and a
pan-European platform in Commercial & Clinical, while simultaneously
strengthening our market leading position in Supply Chain & Retail.  This
was evidenced through the completion of a number of acquisitions during the
period: Devonshire Healthcare Services, E4H, CoRRect Medical and BESTMSLs. The
acquisition of Navi Group ("Navi") is, as previously disclosed, subject to
approval by the Competition and Consumer Protection Commission ("CCPC").
Following the announcement by the CCPC on 22 April 2022 that it intends to
carry out a Phase 2 investigation in respect of this acquisition, we now
expect it to complete during the second half of 2022.

 

Uniphar has traded in line with the Board's expectations in the first four
months of 2022 and we remain confident of delivering organic gross profit
growth for FY 2022 in line with our medium-term guidance.

 

Once again, Uniphar colleagues worldwide have shown remarkable resilience and
commitment, delivering for our clients and our shareholders while navigating
the various challenges that Covid-19 presented. The needs of our customers,
the pharmacies, hospitals, manufacturers and patients we serve were paramount
during 2021. The dedication of our teams, and the manner in which they are
supporting each other and responding to the needs of the communities in which
they operate, has been exceptional.

 

Sustainability continues to form a key part of Uniphar's culture and business
practices. Initiatives such as the Future of Work employee listening exercise,
our second hugely successful Relay for Hope charity event, our commitment to
setting transparent and ambitious carbon reduction targets through the Science
Based Target Initiative and most recently our "Unity for Ukraine" campaigns
are examples of our Group-wide initiatives in this area.

 

Our focus on improving corporate governance structures also continued in 2021
and in line with commitments made at the time of IPO, the Board resolved in
early 2022 to adopt the UK Corporate Governance Code as the Group's corporate
governance code and to align the corporate governance practices of the Group
to that Code.

 

I would like to thank the staff, management and Board for the huge effort they
have put in over the past 12 months, including their dedication and commitment
in responding to the challenges of Covid-19, working through the crisis and
supporting their national healthcare systems. Finally, I would like to thank
our shareholders, executive team and all our teams worldwide for their
loyalty, hard work and dedication during 2021."

 

--- ENDS ---

 

 

 

For further details contact:

 

 Uniphar                                                  +353 (0) 1 428 7777

 Seamus Egan
 Head of Corporate Development and IR                     investor.relations@Uniphar.ie (mailto:investor.relations@Uniphar.ie)

 Davy                                                     +353 (0) 1 679 6363
 (Joint Corporate Broker, Nominated Adviser and Euronext

 Growth Adviser)

 Barry Murphy
 Niall Gilchrist
 Lauren O'Sullivan

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

 Jonathan Hardy
 Jamil Miah

 Stifel Nicolaus Europe Limited (Joint Corporate Broker)  +44 (0) 20 7710 7600
 Matt Blawat
 Ben Maddison
 Francis North

 Q4 PR                                                    +353 (0) 1 475 1444 or
 (Public Relations Adviser to Uniphar)                    +353 87 235 6461

 Iarla Mongey

 

 

 

 

About Uniphar plc

 

Headquartered in Dublin, Ireland, the Uniphar Group is an international
diversified healthcare services business servicing the requirements of more
than 200 multinational pharmaceutical and medical technology manufacturers
across three divisions - Commercial & Clinical, Product Access and Supply
Chain & Retail. The Group is active in Ireland, the UK, the Benelux, the
Nordics, Germany, and the US.

 

The Company's vision is to improve patient access to pharmaco-medical products
and treatments by enhancing connectivity between manufacturers and healthcare
stakeholders. Uniphar represents a strong combination of scale, growth, and
profitability.

 

Commercial & Clinical

In Commercial & Clinical, the Group provides outsourced sales, marketing
& distribution solutions to multinational pharmaceutical and medical
device manufacturers. Active in Ireland, the UK, the Benelux, the Nordics,
Germany and the US, the Group is growing with its clients to provide
pan-European solutions, with a bespoke offering in the US. Uniphar has built
fully integrated digitally enabled customer centric solutions that are
supported by our highly experienced and clinically trained teams, leveraging
our digital technology and insights which allows us to deliver consistently
exceptional outcomes for our clients.

 

Product Access

In Product Access, the Group is growing two distinct service offerings: 1) "On
Demand", which are pharmacy led solutions for sourcing and supplying
unlicensed medicines to meet the needs of both retail and hospital
pharmacists; and 2) "Exclusive Access", which are manufacturer led solutions
for controlling the release of speciality medicines for specifically approved
patient populations in agreed markets. The Group currently delivers product
access solutions on a global basis.

 

Supply Chain & Retail

Uniphar is an established market leader in Ireland with c. 53% market share in
the wholesale/hospital market, supported by a network of 378 owned, franchised
and symbol group pharmacies. The business supports the diverse customer base
through the provision of strong service levels coupled with innovative
commercial initiatives. Supply Chain & Retail is an Irish only business
for the Group, although the manufacturer relationships and infrastructure are
also utilised for the benefit of Commercial & Clinical and Product Access.

 

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