Fagron Sa Ord (ARSUF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and good morning, everyone. Welcome to Fagron's Full Year 2025 Results webcast. I'm joined today by our CEO, Rafael Padilla, and our CFO, Karin De Jong. We will open the floor for questions at the end of the session. And with that, I will hand it over to Rafael. Thanks, Ignacio, and good morning, all. We are very pleased to report another outstanding set of results with full year revenues reaching €952 million. This translates into a 9.1% organic revenue growth at constant exchange rates driven by all regions and segments. Profitability increased 10.9% to 193 million euros, which represents a margin of 20.3%, 30 basis points higher than in 2024. Main contributors were our operational excellence initiatives and a positive sales mix. As you already know, during the year, we also accelerated our M&A efforts and announced 12 transactions across our regions and segments, always maintaining a disciplined approach. Additionally, we have proposed a dividend of 40 euro cents per share, reflecting a 14.3% increase compared to last year. Looking ahead in 2026, assuming no major changes in current market conditions, we expect mid to high single digit organic sales growth at CR and a slight improvement in profitability year on year. Going on to the regions, in EMEA, we had a solid performance. Brands and essentials benefited from underlying demand, improved availability, and our diversified footprint, while compounding services was supported by demand in both sterile and non-sterile compounding, as well as new customer wins. In LARAM, we benefited from strong execution in Brazil. Innovation and targeted commercial actions supported growth. We have also received clearance from the Competition Authority, CADE, for the acquisition of VEPACOM. Finally, in North America Pacific,...