APONTIS PHARMA continues strong profitable growth in Q1 2022

DGAP-News: APONTIS PHARMA AG

/ Key word(s): Quarterly / Interim Statement

APONTIS PHARMA continues strong profitable growth in Q1 2022
10.05.2022 / 07:30

The issuer is solely responsible for the content of this announcement.

APONTIS PHARMA continues strong profitable growth in Q1 2022
 

  • Single Pill revenues +40% to EUR 8.7 million remain main growth driver
  • Single Pill revenue share increases to 61% (3M 2021: 57%)
  • Total revenues grow faster than pharma sector by 31% to EUR 14.3 million
  • EBITDA increases by 162% to EUR 2.4 million despite investments in Single Pill growth
  • EBITDA margin improved to 17.1% (3M 2021: 8.1%)
  • Net income rises revenue-driven to EUR 1.6 million (3M 2021: EUR 0.3 million)
  • 2022 revenue and earnings guidance confirmed

 

Monheim am Rhein, 10 May 2022. APONTIS PHARMA AG (Ticker APPH / ISIN DE000A3CMGM5), a leading pharmaceutical company specializing in Single Pills in the German market, has reported a successful start to the current financial year with continued sales and earnings growth in Q1 2022. The publications of the START study results in the form of two full publications in two peer-reviewed journals on the clinical benefits and pharmacoeconomic advantages of Single Pill therapy represent decisive milestones in the expansion of sales activities. Consequently, APONTIS PHARMA can continue to expand its unique positioning and market leadership in the area of single pills.

In Q1 2022, APONTIS PHARMA continued to grow significantly than the overall market for the pharmaceutical industry and prescription drugs, which are important for the company, with revenues increasing by 31% to EUR 14.3 million. Single Pill revenues continued to be the main growth driver with a plus of 40%. The share of Single Pills in total revenues increased to 61% (3M 2021: 57%). Revenues from co-marketing/co-promotion grew by 13% to EUR 4.8 million, mainly driven by the agreement with AstraZeneca for the co-promotion of Trixeo®, which is effective from April 2021.

On the procurement side, the higher supply costs for the product Ulunar® were particularly noticeable. In contrast, the disposal of three gynecology products from the so-called legacy business, in line with the focus on the Singe Pills business, made a positive contribution to earnings of EUR 0.6 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) more than doubled to EUR 2.4 million (3M 2021: EUR 0.9 million) in Q1 2022 as a result of strong revenue growth despite investments of EUR 0.4 million in accelerating marketing activities. The EBITDA margin doubled to 17.1% (3M 2021: 8.5%).

Cash flow from operating activities improved significantly to a positive cash inflow of EUR 3.7 million (3M 2021: EUR 1.4 million). With a high equity ratio of 74.9% and cash and cash equivalents of EUR 32.2 million and liabilities of EUR 4.7 million, APONTIS PHARMA has a solid asset and financial position as a basis for further corporate growth.

For the 2022 financial year, the Executive Board confirms its forecast of an increase in revenues of 8.0% to EUR 55.3 million and EBITDA of EUR 5.5 million.

Group figures (unaudited)

in EUR million   3M 2022   3M 2021  
Single Pill revenues   8.7   6.2   40.2%
Total revenues   14.3   10.9   31.2%
EBITDA   2.4   0.9   162.3%
EBITDA margin (in %)   17.1%   8.5%   101.1%
EBIT   2.0   0.5   271.2%
EBIT margin (in %)   14.2%   5.0%   182.8%
Net result   1.6   0.3   417.3%
Equity ratio (in %)   74.9%   12.7%   488.0%
Cash and cash equivalents   32.2   6.7   382.3%

Note: The figures for Q1 2022 are unaudited and preliminary. Rounding differences may occur.

Karlheinz Gast, Chief Executive Officer of APONTIS PHARMA AG: “With growth in Q1 2022 continuing to exceed the industry average, we have made a successful start to the current financial year. In this context, the peer-reviewed full publications of the START study on the medical efficacy and cost reduction of Single Pills as full publications in medical journals mark decisive milestones in the expansion of our sales activities. This provides us with additional backing, since, among other things, the scientific proof of the benefits of Single Pills required by health insurance funds, associations of panel doctors, and authorities is now available. We are further expanding our positioning and market leadership and significantly strengthening the future sales opportunities of our new Single Pills. Patients, doctors and health insurers all benefit from our success. At the same time, we have discontinued the Gynecology business with the sale of legacy products in order to further focus on the development and distribution of our higher-margin Single Pills. The doubling of the EBITDA margin impressively underscores the viability of our strategic direction.”

Webcast/Teleconference:

CEO Karlheinz Gast, CPO Thomas Milz and CFO Thomas Zimmermann will explain the results of Q1 202 in a webcast presentation today at 09.00 CEST. The presentation will be held in English.

Please register in time to participate at:

APONTIS PHARMA Quarterly Announcement 3M 2022 – Webcast/Conference Call

The accompanying presentation will also be available on the Company’s website prior to the start of the event.

Condensed Group income statement (unaudited)

in EUR million   3M 2022   3M 2021  
Revenues   14.3   10.9   31.2%
Other operat. income   0.7   0.5   59.0%
Cost of materials   5.3   3.8   39.3%
Personnel expenses   4.1   4.1   -1.3%
Depreciation and amortization   0.4   0.4   6.7%
Other operat. expenses   3.1   2.4   29.2%
Net result   1.6   0.3   417.8%

Note: The figures for Q1 2022 are unaudited and preliminary. Rounding differences may occur.

Condensed Group balance sheet (unaudited)

in EUR million   31 Mar. 2022   31 Dec. 2021  
Assets            
Fixed assets   15.8   15.5   1.9%
Inventories   4.0   4.6   -13.0%
Receivables   3.1   3.6   -13.9%
Cash on hand and bank balances   32.2   29.8   8.1%
Prepaid expenses and deferred charges   0.5   0.4   25.0%
Deferred tax assets   0.0   0.2   n/a
             
Equity and liabilities            
Equity   41.7   40.7   2.5%
Difference from capital consolidation   0.7   0.7   0.0%
Provisions   8.6   9.0   -4.4%
Liabilities   4.6   3.7   24.3%
             
Total balance sheet   55.6   54.1   2.8%

Note: The figures for Q1 2022 are unaudited and preliminary. Rounding differences may occur.

Group cash flow statement (unaudited)

in EUR million   3M 2022   3M 2021  
Cash flow from operating activities   3.7   -1.4   n/a
Cash flow from investing activities   -0.7   0.0   n/a
Cash flow from financing activities   -0.6   0.0   n/a
             
Cash and cash equivalents at the end of the period   32.2   6.7   382.3%

Note: The figures for Q1 2022 are unaudited and preliminary. Rounding differences may occur.

About APONTIS PHARMA:

APONTIS PHARMA AG is a leading pharmaceutical company specializing in Single Pills in Germany. Single Pills combine two to three generic active ingredients in a single dosage form. APONTIS PHARMA develops, promotes and sells a broad portfolio of Single Pills and other pharmaceutical products, with a special focus on cardiovascular diseases. Since 2013, APONTIS successfully launched several Single Pill products alone for cardiovascular indications such as hypertension, hyperlipidemia and secondary prevention. With its headquarters in Monheim am Rhein, APONTIS PHARMA is located in one of Europe’s leading pharmaceutical and chemical region. From here, the company maintains a broad network with research-based pharmaceutical companies and a customer target group of approx. 23,000 physicians in Germany. For additional information about APONTIS PHARMA, please visit www.apontis-pharma.de.

APONTIS PHARMA AG

Investor Relations
ir@apontis-pharma.de
T: +49 2173 89 55 4900
F: +49 2173 89 55 1521
Alfred-Nobel-Str. 10
40789 Monheim am Rhein
Germany
apontis-pharma.de

APONTIS PHARMA Presse Contact

CROSS ALLIANCE communication GmbH
Sven Pauly
Sara Pinto
ir@apontis-pharma.de
T: +49 89 125 09 0330


10.05.2022 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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