Fagron: Turnover growth supported by key regions Europe, South America and North America
Nazareth (Belgium)/Rotterdam (The Netherlands)1, 12 October 2017
- Turnover increases to € 103.6 million
- Organic turnover growth at constant exchange rates of 2.4%
- Active buy-and-build strategy:
- Acquisition of Croatian Kemig in August
- Acquisition of Brazilian All Chemistry in October
Hans Stols, CEO of Fagron: "Fagron reported solid results in the third quarter of 2017. The comparable turnover at constant exchange rates from our activities increased by 2.4%. Our activities in Europe showed good results in the third quarter. This growth was reduced, however, by the backlog at external laboratories that analyse the raw materials Fagron purchases. Limited product availability resulting from this delay in the analysis process caused delays in the supply of raw materials to our customers. Those involved are working hard on a solution and we expect the backlog in delivery to be largely cleared in the first quarter of 2018. Our activities in South America realised turnover growth at constant exchange rates of 3.4%, while our activities in North America achieved turnover growth of 4.1%. The sterile activities in the United States grew by 17.6%.
As part of its active buy-and-build strategy, Fagron is constantly in talks with various parties to consolidate our leading positions in our keys regions, Europe and North and South America. Over the past several months, we expanded our activities with two acquisitions. We finalised the acquisition of Kemig at the beginning of August, further consolidating our leading position in Europe. Kemig is a leading supplier of pharmaceutical raw materials and packaging materials to pharmacies and wholesalers in Croatia and Bosnia and Herzegovina. At the beginning of October we announced the acquisition of Brazil-based All Chemistry, a renowned supplier of pharmaceutical raw materials for compounding pharmacies.
We remain positive about the growth opportunities we see in the various markets in which we are active."
|Turnover (x € 1,000)||Q3 2017||Q3 2016||Total growth||Total growth CER||Org. growth||Org. growth CER|
|Turnover (x € 1,000)||9M 2017||9M 2016||Total growth||Total growth CER||Org. growth||Org. growth CER|
In the event of differences between the English translation and the Dutch original of this press release, the latter prevails.
1 This press release was sent out by Fagron NV and Fagron BV.
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Turnover growth supported by key regions Europe, South America and North America