Medios AG records further revenue growth in the first quarter of 2024 and confirms full-year guidance

Press release

Medios AG records further revenue growth in the first quarter of 2024 and confirms full-year guidance

• Revenue increases by 5.8% to €456.2 million in the first quarter
• Cash flow from operating activities increases to €43.4 million
• Closing of the Ceban acquisition planned for May 2024
• Guidance 2024 confirmed: Significant increase in revenue and margin expected

Berlin, May 7, 2024 – Medios AG ("Medios"), the leading provider of Specialty Pharma solutions in Germany, confirms its guidance for the 2024 financial year after a solid first quarter. Revenue increased by 5.8% year-on-year to €456.2 million in the period from January to March 2024 (previous year: €431.2 million). At €15.1 million (previous year: €15.0 million), EBITDA pre¹ reached the level of the same quarter of the previous year. As a result, the EBITDA pre¹ margin of 3.3% (previous year: 3.5%) was slightly lower than in the same period of the previous year. Cash flow from operating activities improved significantly in the first quarter of 2024 to €43.4 million (previous year:
€–25.3 million).

Heterogeneous sales and earnings development in the operating segments

The Pharmaceutical Supply segment achieved an increase in revenue of 8.9% to €401.0 million in the first quarter of 2024 (previous year: €368.1 million). The segment’s EBITDA pre¹ increased by 9.0% to €11.0 million (previous year: €10.1 million).

The Patient-Specific Therapies segment generated revenue of €55.1 million in the first quarter of 2024 after €62.9 million in the previous year. Around €3.5 million of this decline was attributable to the sale of Kölsche Blister GmbH in June 2023. In addition, regulatory price adjustments in some compounding areas still had a negative impact on the earnings development. As a result, the segment’s EBITDA pre¹ decreased by 9.4% to €5.9 million (previous year: €6.6 million).

Matthias Gaertner, Chief Executive Officer (CEO) of Medios AG: “In the first quarter of 2024, we once again achieved an increase in revenue and significantly increased our cash flow – despite the focus on the acquisition of Ceban, which we expect to successfully complete shortly. With an even larger Medios Group, which will also operate internationally for the first time, we expect to continue our successful growth trajectory for the rest of the 2024 financial year."

In the first quarter of 2024, Medios announced the acquisition of Ceban Pharmaceuticals B.V. ("Ceban"). Ceban is the Dutch market leader in pharmaceutical compounding services and is also active in Belgium and Spain. In 2023, Ceban generated revenue of approximately €160 million and an adjusted EBITDA of approximately €29 million, which corresponds to an adjusted EBITDA margin of around 18%. The acquisition represents an important step in Medios' growth strategy, which aims to build the leading European Specialty Pharma platform.

Positive outlook

Medios confirms the guidance for the 2024 financial year first announced on March 18, 2024. The company expects revenue of €1.9 billion to €2.1 billion and EBITDA pre¹ of €82 million to €91 million. This expectation is based on the assumption that the acquisition of Ceban Pharmaceuticals B.V. will be completed shortly and fully consolidated from the beginning of May 2024.

In the medium term, the market share in the area of patient-specific therapies in particular is to be further expanded, thereby increasing the profitability of the entire Medios Group. Accordingly, Medios is aiming for consolidated revenue of more than €2bn and an EBITDA pre¹ margin at least in the mid-single-digit range in the medium term.

Important dates for Medios AG in the 2024 financial year

June 6 to 7:  Warburg Highlights – Hamburg

August 13:  Half-Year Financial Report 2024

August 14:  Annual General Meeting 2024

September  25: Berenberg and Goldman Sachs 13th German Corporate

Conference – Munich

November 12: Quarterly statement as of September 30, 2024

Medios AG's quarterly statement as of March 31, 2024 is available for download on the Investor Relations website.

-------------------

About Medios AG

Medios AG is the leading provider of Specialty Pharma Solutions in Germany. As a competence partner and expert, Medios covers all relevant aspects of the supply chain in this field: from pharmaceutical supply to the manufacture of patient-specific therapies including blistering. The focus is on optimal patient care via specialized pharmacies.

Medios AG is Germany's first listed specialty pharmaceutical company. The shares (ISIN: DE000A1MMCC8) are listed on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard).

www.medios.ag

Contact

Claudia Nickolaus

Head of Investor & Public Relations, ESG Communications

Medios AG

Heidestraße 9 | 10557 Berlin

T +49 30 232 566 800

c.nickolaus@medios.ag

www.medios.ag

Disclaimer

This communication contains forward-looking statements that are subject to certain risks and uncertainties. Future results could differ materially from those currently anticipated as a result of various risk factors and uncertainties, including, but not limited to, changes in business, economic and competitive conditions, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings and the availability of financing.