Fagron Sa · EURONEXT:FAGR
Fagron Sa — FY2024 Earnings Presentation
21 slides from Fagron Sa's earnings presentation, Feb 20, 2025
Slide 1: FY 2024 Results
FY 2024 Results Rafael Padilla CEO | Karin de Jong CFO 20 February 2025
Slide 2: Disclaimer
Disclaimer The contents of this document, including all statements made therein, are based on estimates, assumptions and other information currently available to the management of Fagron. Certain statements in this presentation may be deemed to be forward-looking. Such forward-looking statements are
Slide 3: Key highlights
Key highlights Rafael Padilla CEO
Slide 4: Exceptional FY 2024 performance supported by all regions
Exceptional FY 2024 performance supported by all regions FY 2024 YoY change Organic revenue growth at CER supported by all regions Total revenue €872.0m +14.3% and segments, particularly led by the exceptional performance of CS in North America Revenue organic growth CER +13.0% +2.5pp 16.8% increase
Slide 5: EMEA: Strong growth supported by diversification & strategic initiatives
EMEA: Strong growth supported by diversification & strategic initiatives B&E results show strong demand in most European +4.0% countries underscoring the advantages of our diversified footprint Organic revenue growth at CER Poland concluded the year with a solid performance as strategic actions paid
Slide 6: Latin America: Brands and operational excellence drive profitability
Latin America: Brands and operational excellence drive profitability +9.7% Sustained market leadership in Brazil while competitive pressures persist Organic revenue growth at CER Ongoing market recovery in Brazil to support FY 2025 performance 18.2% REBITDA margin Outstanding performance of Brands i
Slide 7: North America: Capturing strong underlying demand in a dynamic regulatory environment
North America: Capturing strong underlying demand in a dynamic regulatory environment B&E maintained its recovery trend reflecting operational +23.1% improvements in product availability, supply chain and procurement process Organic revenue growth at CER CS had an exceptional year fueled by strong u
Slide 8: Quality focus critical in navigating evolving regulatory requirements
Quality focus critical in navigating evolving regulatory requirements Wichita WL timeline FY 2024 Global June 2024 FDA conducted a routine inspection of the Wichita Quality KPIs facility and a form 483 was issued July 2024 First response to the FDA sent August 2024 Second response to the FDA sent /
Slide 9: Accelerated momentum on disciplined M&A strategy
Accelerated momentum on disciplined M&A strategy Guinama – Iberia (February 2025) Background: • Specializes in repackaging and distribution of APIs and excipients to pharmacies, hospitals, and industries • Known for excellent customer service and strong competitive position Strategic rationale: • St
Slide 10: Financial review
Financial review Karin de Jong CFO
Slide 11: FY 2024 financial highlights
FY 2024 financial highlights 1,100.0 0.3 +14.3% +16.8% 1,000.0 0.25 23.0% 900.0 872.0 0.2 180.0 174.0 22.0% 21.0% 800.0 763.0 0.15 155.0 149.0 20.0% ` 20.0% ` 19.0% 700.0 +13.0% 0.1 130.0 19.5% 18.0% Org. growth CER 17.0% 600.0 0.05 105.0 16.0% 500.0 0 80.0 15.0% FY 2023 FY 2024 FY 2023 FY 2024 Reve
Slide 12: FY 2024 Revenue bridge and P&L statement
FY 2024 Revenue bridge and P&L statement in €m Profit & loss account (€m) FY 2024 FY 2023 Δ 950.0 Net revenue 872.0 763.0 14.3% Gross margin 543.7 461.3 17.8% 21.9 12.2 Operating expenses 366.6 309.2 18.6% 850.0 71.4 Share-based payments and LTI 3.0 3.2 -5.1% 16.5 EBITDA before non-recurrent result
Slide 13: EMEA: Strong performance across the board offsetting Poland impact
EMEA: Strong performance across the board offsetting Poland impact Revenue Profitability +10.7% +10.9% 90.0 35.0% 315.4 80.0 30.0% 284.9 70.0 67.8 61.1 25.0% 109.0 60.0 88.8 +4.0% ` 50.0 21.5% ` 20.0% Org. growth CER 21.5% 47.5 48.6 40.0 15.0% 30.0 148.6 157.8 20.0 10.0% FY 2023 FY 2024 FY 2023 FY 2
Slide 14: Latin America: Brands and operational excellence drive profitability
Latin America: Brands and operational excellence drive profitability Revenue Profitability +2.6% +12.8% 250.0 19.0% 230.0 32.0 31.6 18.5% 210.0 18.0% 190.0 169.2 173.6 30.0 18.2% 17.5% 170.0 3.6 4.2 28.0 28.0 17.0% ` ` 150.0 52.9 +9.7% 59.8 16.5% 16.5% 130.0 26.0 110.0 Org. growth CER 16.0% 15.5% 90
Slide 15: North America: Revenue momentum supported by strong market demand
North America: Revenue momentum supported by strong market demand Revenue Profitability +24.0% +24.8% 450.0 100.0 22.0% 400.0 383.0 90.0 350.0 308.9 80.0 74.6 21.0% 300.0 70.0 59.8 20.0% 284.7 250.0 60.0 200.0 221.1 +23.1% ` 50.0 19.4% 19.5% 19.0% ` 150.0 Org. growth CER 40.0 30.0 23.5 100.0 18.0% 2
Slide 16: Free cash flow generation remains resilient
Free cash flow generation remains resilient Cash flow from operating activities development (€m) €m 200.0 180.0 FY 2024 FY 2023 160.0 140.0 23.5 EBITDA 171.5 147.9 29.7 120.0 8.5 100.0 Changes to working capital* (34.3) (4.5) 80.0 ` ` 60.0 124.6 124.6 118.4 109.9 109.9 40.0 Income tax paid (27.3) (1
Slide 17: Healthy balance sheet with stable net debt to EBITDA ratio
Healthy balance sheet with stable net debt to EBITDA ratio Net debt evolution €m 300.0 13.4 250.0 9.3 26.4 200.0 21.0 109.9 40.8 150.0 33.0 270.7 2.9 257.2 233.7 221.5 100.0 159.7 200.5 ` 50.0 123.8 123.8 0.0 On 31 Dec 2023 Operational cash Purchase own Acquisitions and Capital expenditures Dividend
Slide 18: FY 2025 outlook
FY 2025 outlook FY 2025 Revenue FY 2025 REBITDA Margin Capex Mid- to high-single digit Slight increase in ~3.5% organic growth at CER profitability y-o-y of revenue* Guidance assumes no significant changes in current market conditions. Also excludes signed acquisitions that are not closed * Excludes
Slide 19: Conclusion
Conclusion Rafael Padilla CEO
Slide 20: Global leader in the niche pharmaceutical compounding market
Global leader in the niche pharmaceutical compounding market Defensive Unique Market Business Model Positioning Strong Cash Sustainability Generation Focus Operational Disciplined M&A Excellence 20
Slide 21: Q&A Financial calendar 2025
Q&A Financial calendar 2025 10 April 2025 Trading update first quarter 2025 and Capital Markets Day 12 May 2025 Annual General Meeting 2024 31 July 2025 Half year results 2025 9 October 2025 Trading update third quarter 2025