APONTIS PHARMA grows significantly faster than the overall market in the nine-month period 2021 – Revenue forecast increased

DGAP-News: APONTIS PHARMA AG

/ Key word(s): Quarterly / Interim Statement/9 Month figures

18.11.2021 / 07:30

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

APONTIS PHARMA grows significantly faster than the overall market in the nine-month period 2021 – Revenue forecast increased
 

  • Single Pills revenues +80% to EUR 21.8 million as key growth driver
  • Total revenues grow faster than pharmaceutical sector by 37% to EUR 36.7 million
  • EBITDA (adjusted) increases significantly by EUR 5.7 million to EUR 4.4 million with only disproportionately low cost development
  • Revenues forecast 2021 increased to up to EUR 49.5 million (initially EUR 48.5 million), EBITDA adjusted confirmed
  • Total of four new single pill launches planned for 2022

Monheim am Rhein, 18 November 2021. Die APONTIS PHARMA AG (Ticker APPH / ISIN DE000A3CMGM5), a leading pharmaceutical company specializing in Single Pills in the German market, successfully continued the expansion of its unique positioning, revenues growth and market leadership in the Single Pills segment in a nine-month period 2021. During the period under review, APONTIS PHARMA thus already announced the market launch of two new Single Pills for the coming financial year. As a result, a total of four new Single Pills are planned for 2022.

In the nine-month period 2021, APONTIS PHARMA continued to grow significantly faster than the overall market of the pharmaceutical industry and than the prescription drugs which are significant for the Company. A revenue increase of 37% to EUR 36.7 million underlines the dynamic business development. Single Pills revenues, exceeding expectations, were the main growth driver with a significant increase of 80% to EUR 21.8 million. The share of Single Pills in total revenues increased to around 60% (9M 2020: 45%). Only pandemic-related restrictions on market access in cooperation agreements for the co-promotion of patented products held back even stronger growth. The cost of materials and personnel expenses grew at a significantly slower rate than the revenue volume. Here, APONTIS PHARMA benefited in particular from its market-leading sales force in Germany and was as such able to compensate to a large extent for the reduced access to medical care for chronically ill patients as a result of the pandemic.

In order to systematically leverage the opportunities arising from the growth momentum of Single Pills for a higher earnings contribution in the coming year 2022, APONTIS PHARMA invested an additional EUR 0.2 million in marketing. Earnings before interest, taxes, depreciation and amortization (EBITDA adjusted), mainly adjusted for IPO costs, improved in the nine-month period 2021 to EUR 4.4 million (9M 2020: negative) with a plus of EUR 5.7 million due to the strong earnings contribution of Single Pills at group level.

The increase in current assets reflects an additional inventory build-up of EUR 0.8 million in preparation for the further increase in demand. With an equity ratio of around 76% and cash and cash equivalents of EUR 30.1 million and liabilities of EUR 4.9 million, APONTIS PHARMA boasts a solid asset and financial position as the basis for its planned growth.

For the 2021 financial year, the Executive Board is increasing its revenues forecast to up to EUR 49.5 million (previously EUR 48.5 million) and is confirming the forecast of EUR 5.5 million for adjusted EBITDA.

Group figures 9M 2021 (unaudited)

in EUR million   9M 2021   9M 2020  
Single Pills revenues   21.8   12.1   80.1%
             
Total revenues   36.7   26.9   36.5%
             
EBITDA adjusted   4.4   -1.3   n/a
EBITDA margin adjusted (in %)   12.0%   -4.6%   n/a

Note: The figures for 9M 2021 are unaudited. Rounding differences may occur.

Karlheinz Gast, Chief Executive Officer of APONTIS PHARMA AG: “The successful business development in the nine-month period 2021 highlighted two key cornerstones of our growth strategy. On the one hand, the IPO in spring 2021 was appropriate and crucial to more decisively continue our success story as ‘The Single Pill Company’. On the other hand, the focus on our Single Pill products, which have been shown to ensure more efficient treatment of civilization diseases such as high blood pressure and disorders of lipid metabolism, is paying off. Here, we have established a unique position in the German market and intend to expand this geographically as well. To this end, we have already announced the launch of two further single pills in 2022. In particular, we are proud of the fact that, according to the most recent employee survey, our entire workforce is committed to and convinced of this path. We are making sustained progress towards our ambitious 2026 target of more than 20 Single Pills, while at the same time taking advantage of the growth momentum to make targeted preparations for future earnings growth with additional marketing investments.”

Webcast/conference call:

CEO Karlheinz Gast and CPO Thomas Milz will explain the results of the nine-month period 2021 in a webcast presentation today, 18 November 2021, at 09.00 CET. The presentation will be held in English.

Please register in time to participate at:

APONTIS PHARMA Quarterly Statement 9M 2021 – Webcast/Conference call.

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

Condensed consolidated income statement (unaudited)

in EUR million   9M 2021   9M 2020  
Revenues   36.7   26.9   36.5%
Other operating income   3.2   0.9   242.2%
Cost of materials   12.6   9.8   28.7%
Personnel expenses   15.0   12.1   23.8%
Amortization   1.1   1.1   n/a
Other operating expenses   11.4   7.1   60.6%

 

Condensed consolidated balance sheet (unaudited)

in EUR million   30 Sep. 2021   31 Dec. 2020  
Assets            
Non-current assets   15.0   15.6   -4.3%
Current assets   37.4   11.7   220.0%
Accrued income   0.3   0.5   -24.0%
Deferred tax assets   0.4   1.2   -67.1%
             
Liabilities            
Equity   40.3   2.4   > 1,000%
Difference from capital consolidation   0.7   0.8   8.4%
Provisions   7.2   8.3   -13.0%
Liabilities   4.9   17.5   -71.9%
             
Balance sheet total   53.1   29.0   83.5%

 

Condensed consolidated cash flow statement (unaudited)

in EUR million   9M 2021   9M 2020  
Cash flow from operating activities   3.7   -0.6   n/a
Cash flow from investment activities   -4.1   -0.5   794.8%
Cash flow from financing activities   22.1   -1.1   n/a
             
Cash and cash equivalents at the end of the period   30.1   4.0   652.5%

Note: The figures for 9M 2021 are unaudited. 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 patent-free 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 Press Contact

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


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