DGAP-News: HAEMATO AG
/ Key word(s): Preliminary Results
30.03.2022 / 10:15
The issuer is solely responsible for the content of this announcement.
HAEMATO AG publishes preliminary figures for the 2021 financial year:
Renewed increase in sales and strong rise in earnings after disproportionate growth of the new Lifestyle and Aesthetics business unit
– HAEMATO remains on course for growth: according to preliminary IFRS financial statements, consolidated revenue in the 2021 financial year rose again by around 20% to EUR 285.0 million, after revenue growth of a good 20% was already achieved in the previous financial year.
– The preliminary consolidated EBIT amounts to 11.2 million euros and could be increased by almost 700% compared to the previous year (1.6 million euros).
– Equity increased from 125.5 million euros to 144.7 million euros in the past financial year. This corresponds to an equity ratio of 79.5% (31.12.2020: 74.2%).
– The new Lifestyle and Aesthetics segment contributed disproportionately to the gross profit and will be further expanded in the future. Preparations are currently underway for the approval of a proprietary botulinum toxin for the European market.
Berlin, 30. March 2022 – HAEMATO AG (ISIN: DE000289VV1) continued its growth course in the fourth quarter and increased its revenue by 9.1% to EUR 68.4 million compared to the same quarter of the previous year (EUR 62.7 million). According to preliminary figures, IFRS consolidated revenue of EUR 285.0 million was generated in the entire 2021 financial year (previous year: EUR 238.3 million), which corresponds to year-on-year growth of 19.6%.
Sales growth in the 2021 financial year was achieved primarily by focusing on special pharmaceuticals for chronic diseases and products related to aesthetic medicine as well as medical products in the field of COVID-19 diagnostics. The “Specialty Pharma” segment, in which the products financed by health insurance funds are bundled, accounted for a sales volume of EUR 220 million (corresponds to 77%). The “Lifestyle and Aesthetics” segment generated sales of EUR 65 million (corresponds to 23%).
Overall, a gross profit of EUR 30.7 million was achieved (previous year EUR 17.7 million), which corresponds to a gross margin of 10.8% (previous year 7.4%) and thus an improvement in the gross margin of 45 %. The high-margin “Lifestyle and Aesthetics” segment made a disproportionately high contribution to the gross profit of EUR 22 million or around 70%, as this segment targets the lucrative self-payer market in particular.
HAEMATO was able to significantly increase the result from ordinary activities (EBITDA) in the 2021 financial year. Group EBITDA rose to EUR 12.6 million (previous year: EUR 3.3 million). Earnings before interest and taxes (EBIT) amounted to EUR 11.2 million (previous year: EUR 1.6 million). The EBIT margin rose disproportionately from 0.7% (2021) to 3.9% in the course of the portfolio streamlining and the growth of the new, high-margin business areas.
The pre-tax result (EBT) of EUR 9.4 million was considerably higher than in the previous year (EUR -4.6 million), which was burdened by special effects on the balance sheet date.
In the past financial year, a high operating cash flow of EUR 14.1 million (previous year: EUR 14.7 million) was again generated. The total cash flow increased from EUR 9.3 million (previous year) to EUR 18.1 million in the 2021 financial year, to which a capital increase of EUR 14.5 million carried out in March 2021 also contributed. The capital increase secures the upcoming development and future business with own brands.
The equity ratio increased from 74.2% (previous year) to 79.5%. Liabilities fell again by 14.4% (previous year: -22.7%) to EUR 37.3 million (previous year: EUR 43.6 million). The liabilities to banks included in this amount fell in 2021 by EUR 3.6 million (corresponds to around 20%) to EUR 14.5 million as of the balance sheet date 31.12.2021.
For 2022, we at HAEMATO AG assume that the significant improvement in the gross and EBIT margins achieved in the past financial year can be maintained, with slightly declining sales. The continuing price pressure on the sales side for parallel-imported medicinal products via the manufacturers and health insurance companies will persist. Increased inflation, uncertainties related to the Corona pandemic and the situation in Ukraine do not allow for concrete earnings forecasts. Compared to previous years, we anticipate rising expenses in the procurement of goods and for transport services. This effect should be compensated by further consistent portfolio adjustments – towards high-margin products and an additional cost efficiency programme that has been running since the end of 2021. The “Lifestyle and Aesthetics” segment is to be further expanded and thus support the focus on sustained good EBIT margins.
From the current perspective, consolidated sales of EUR 250 million to EUR 280 million and EBIT of EUR 8 million to EUR 10 million are expected for the 2022 financial year.
Wholesale and the development of high-margin own brands in the area of “aesthetic medicine” will be further expanded. In October 2021, for example, a licence and supply agreement was signed with the South Korean cooperation partner HUONS Biopharma to approve and distribute a botulinum toxin product under our own name throughout Europe. A study synopsis is currently being prepared for the approval procedure with the drug authorities.
HAEMATO AG was founded in 1993 and is a pharmaceutical company with a focus on trading in high-priced special pharmaceuticals (with a therapeutic focus on oncology, HIV, rheumatology, and other chronic diseases) as well as the development and distribution of medical products and own brands, particularly in the area of “Lifestyle & Aesthetics”. HAEMATO AG is listed on the Basic Board (Open Market) of the Frankfurt Stock Exchange. Further information can be found at www.haemato.de.
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|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Stuttgart, Tradegate Exchange|
|EQS News ID:||1315537|
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