Fagron Sa Ord (ARSUF) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to FAGRAN's H1 2024 resource conference call hosted by Raphael Padilla, CEO, and Karen De Jong, CFO. Throughout today's recorded presentation, all participants will be in a listen-only mode. Later, we will conduct a question and answer session. If you wish to register for questions, please signal by pressing star one on your telephone keypad at any time. Post call, if you have any questions, please reach out to the investors relation email address that is investors at stagron.com. At this time, I'd like to hand the call over to Rafael Padilla, CEO. Please go ahead, sir. Thanks Francois, and good morning all. We're very happy to see the continuation of our strong performance as we achieve 12.8% organic growth at CER, with revenues increasing to 429 million euros for the first half of the year. This growth was driven by positive contributions by all regions, and particularly accelerated by the exceptional performance in compounding services. Our revenue margin increased by 30 basis points to 19.7%, reflecting synergies from acquisitions and benefits from operational excellence initiatives. As we look ahead, we're upgrading our full-year revenue guidance to a range of 850 to 870 million euros, while still expecting an improvement in profitability year on year. Carin will give more color later on. Moving on to the regional dynamics, in EMEA, B&E's performance showcases the benefits of our diversified footprint across the region, and as announced during H2 2023, changes to the reimbursement system in Poland continue to impact results. The compounding services' impressive performance is supported by strong market demand and growth with the Netherlands benefiting from the new product launches and secular drug shortages. As mentioned, integration of ...