REG - Uniphar PLC - Half Year Trading Update and Notice of Results

UnipharAnnouncement

30/07/2024 07:15

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RNS Number : 2881Y  Uniphar PLC  30 July 2024

 

Uniphar plc

 

Half-Year Trading Update and Notice of Results

 

Dublin, London | 30 July 2024: Uniphar plc (the "Group" or "Uniphar"), an
international diversified healthcare services business addressing the needs of
more than 200 multinational pharmaceutical and medical technology
manufacturers, today announces the following unaudited trading update for the
six months ended 30 June 2024.

 

The business performed in line with the Group's expectations in the first half
at both a gross profit and EBITDA level, while delivering normalised free
cashflow conversion in line with our medium-term guidance. The Group achieved
organic gross profit growth of approximately 7%.

 

Divisional performance:

 

·      Uniphar Pharma delivered strong double-digit organic gross profit
growth during the period and remains on track to deliver double-digit organic
gross profit growth for the full year.

 

·      Uniphar Medtech achieved low single digit organic gross profit
growth during the half, against a very strong prior year comparator, and
expectations of high single-digit organic gross profit growth for the full
year remain unchanged.

 

·      Uniphar Supply Chain & Retail delivered low single-digit
organic gross profit growth during the half and remains on track to deliver
low single-digit organic gross profit growth for the full year.

 

The Group continues to maintain a strong liquidity position, with
lower-than-projected net debt at the end of June 2024.

 

Outlook

Uniphar enters the second half of this year with strong trading momentum and
remains confident in delivering on current year EPS expectations.

 

M&A continues to play an important role in Uniphar's growth strategy, and
the Group maintains a disciplined approach to capital allocation, while
managing an active pipeline of acquisition opportunities to further enhance
the Group's growth potential.

Ger Rabbette, Uniphar Group Chief Executive Officer said:

"Uniphar has had a great first half, achieving significant organic gross
profit growth. We are well-positioned to continue this progress into the
second half and meet our growth objectives for each of our three divisions for
the full year. Our focus remains on reaching our target of €200 million
EBITDA in the medium term."

Notice of Results

 

The Group expects to publish its interim results for the six months ended 30
June 2024 at 07:00 am (BST) on 3 September 2024.

 

A conference call for analysts and investors will be held at 9.00 am (BST) on
3 September 2024 to discuss the Group's final results. Analysts and investors
who wish to participate should visit www.uniphar.ie (http://www.uniphar.ie)
 to register. The Company's final results press release and presentation
will also be available on the website at 07.00 am (BST) on 3 September 2024
at www.uniphar.ie (http://www.uniphar.ie) .

 

--- ENDS ---

 

 

 

Contact details

 Uniphar Group                                            Tel: +353 (0) 1 428 7777

 Allan Smylie, Head of Strategy and IR

 Davy (Joint Corporate Broker, Nominated Advisor and      Tel: +353 (0) 1 679 6363

 Euronext Growth Listing Sponsor)

 Daragh O'Reilly

 Niall Gilchrist

 Ivan Murphy

 RBC Capital Markets (Joint Corporate Broker)             Tel: +44 (0) 20 7653 4000

 Jamil Miah

 Rupert Walford

 Stifel Nicolaus Europe Limited (Joint Corporate Broker)  Tel: +44 (0) 20 7710 7600

 Matt Blawat

 Ben Maddison

 Francis North

 Q4 PR                                                    Tel: +353 (0) 1 475 1444

 Iarla Mongey, Public Relations Advisor to Uniphar Group

 

About Uniphar plc

Headquartered in Dublin, Ireland, Uniphar is an international diversified
healthcare services business servicing the requirements of more than 200
multinational pharmaceutical and medical technology manufacturers across three
divisions - Uniphar Pharma, Uniphar Medtech and Uniphar Supply Chain &
Retail. The Group is active in Europe, North America, APAC and MENA and
delivers to 160+ countries.

 

The Company's vision is to improve patient access to pharmaco-medical products
and treatments by enhancing connectivity between manufacturers and healthcare
stakeholders. Uniphar represents a strong combination of scale, growth, and
profitability.

 

Uniphar Supply Chain & Retail

Uniphar Supply Chain & Retail is the leading pharmaceutical wholesaler in
Ireland with a growing symbol group offering of retail pharmacies. The Group's
strategy for Uniphar Supply Chain & Retail is to grow our wholesale market
share, our symbol group network and our own brand, in-licenced and consumer
products portfolio.

 

Uniphar Medtech

Uniphar Medtech is a leading Pan-European medical device distributor and
solutions partner. The Group's strategy for Uniphar Medtech is to grow our
service offering across Europe and expand our addressable market by serving
new specialities and new manufacturers.

 

Uniphar Pharma

Uniphar Pharma operates a global business with high value services across the
lifecycle of a pharmaceutical product. We enable pharma and biotech companies
to bring innovative medicines to global markets and provide healthcare
professionals with access to medicines they can't source through traditional
channels. Our strategy is to build a leading platform to provide the
specialist support and expertise needed to improve access to these medicines.

 

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