Last checked at 30 Jan 2024 07:00
Uniphar plc
Full Year Trading Update and Notice of Results
Dublin, London | 30 January 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 year ended 31 December 2023.
The business performed in line with the Group's expectations for 2023 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 in excess of 5%.
The Group continues to maintain a strong liquidity position, with lower than projected net debt at year-end.
Outlook
Uniphar is well positioned to deliver organic gross profit growth across all divisions and, consistent with the Group's new medium-term targets, is targeting organic gross profit growth in 2024 as follows:
· Uniphar Pharma: Double digit
· Uniphar Medtech: High single digit
· Uniphar Supply Chain & Retail: Low single digit
M&A will continue to play an important role in Uniphar's growth strategy, and the Group continues to have 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:
"Today's trading update reflects a strong performance by the Group in 2023. Following early delivery on our IPO targets, we have created a new divisional structure to capitalise on our attractive growth opportunities and are now focused on reaching our ambitious new target of ?200m EBITDA over the medium-term."
Notice of Results
The Group expects to publish its final results for the year ended 31 December 2023 at 07:00 am (GMT) on 27th February 2024.
A conference call for analysts and investors will be held at 9.00 am (GMT) on 27th February 2024 to discuss the Group's final results. Analysts and investors who wish to participate should visit 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 (GMT) on 27th February 2024 at www.uniphar.ie.
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Contact details
Uniphar Group
| Tel: +353 (0) 1 428 7777 |
Allan Smylie, Head of Strategy and IR | |
Davy (Joint Corporate Broker, Nominated Advisor and Euronext Growth Listing Sponsor)
| Tel: +353 (0) 1 679 6363 |
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, the Uniphar Group 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.