EQS Group-Ad-hoc: Medartis Holding AG / Key word(s): Preliminary Results Medartis Holding AG Medartis announces preliminary key figures for the 2018 financial year
Basel, Switzerland, 20 February 2019 - Medartis Holding AG (SIX: MED), a leading manufacturer and provider of medical devices for surgical fixation of bone fractures, achieved sales of approx. CHF 121 million in 2018 with double-digit growth in all regions, based on preliminary figures. Adjusted EBITDA (excluding IPO costs) is expected to be approx. CHF 17-18 million. Sales growth of around 16% in local currencies and an adjusted EBITDA margin of approx. 14-15% were at the lower end of the forecasted range. Medartis had already anticipated a lower growth rate in the second half of 2018 when it announced its half-year results. One main reason was the positive impact in the first half of the year of an inorganic growth effect arising from the acquisition of Brazilian distributor Extera in August 2017. In addition, in the first half of 2018, distributors in certain strong sales markets had purchased products for their inventories also for the second half of the year. In its stronger sales regions EMEA, North America and APAC, growth in the second half of 2018 was in line with expectations. In LATAM, which is still the smallest business region in terms of sales, the market environment in the second half of the year was, however, challenging. Although LATAM continued to have the strongest growth momentum in 2018, a number of distributor markets experienced significantly weaker growth in the second half of the year than in the first half. Against this backdrop, the envisaged expansion in Brazil with own sales forces was started with a delay. Adjusted EBITDA (excluding IPO costs) is expected to be approx. CHF 17-18 million for the full year 2018 (previous year: CHF 19.0 million) and the adjusted EBITDA margin approx. 14-15% (previous year: 18%). Both sales growth in local currencies (forecast to be in the high teens) and the adjusted EBITDA margin (forecast to be between 15% and 16%) were therefore at the low end of the expected range for 2018. Medartis is further pursuing its growth strategy and will continue to make targeted investments in its business and international presence. The final audited results for the 2018 financial year and Medartis Holding AG's 2018 Annual Report will be published on 2 April 2019.
Phone: +41 61 633 34 70
Additional features: Document: http://n.eqs.com/c/fncls.ssp?u=AGFLEPEAFA Document title: 20190220_Medartis_Holding_AG_press_release End of ad hoc announcement |
Language: | English |
Company: | Medartis Holding AG |
Hochbergerstrasse 60E | |
4057 Basel | |
Switzerland | |
Phone: | +41 61 633 34 34 |
Fax: | +41 61 633 34 00 |
E-mail: | info@medartis.com |
Internet: | www.medartis.com |
ISIN: | CH0386200239 |
Valor: | A2JGBF |
Listed: | Regulated Unofficial Market in Berlin, Frankfurt, Munich; BX Berne eXchange; SIX Swiss Exchange; Vienna Stock Exchange |
End of Announcement | EQS Group News Service |
777863 20-Feb-2019 CET/CEST