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.
--- ENDS ---
Contact details
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Uniphar Group
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Tel: +353 (0) 1 428
7777
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Allan Smylie, Head of
Strategy and IR
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|
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Davy (Joint Corporate Broker, Nominated Advisor
and
Euronext Growth Listing Sponsor)
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Tel: +353 (0) 1 679
6363
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Daragh
O'Reilly
Niall
Gilchrist
Ivan Murphy
|
|
|
|
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RBC Capital Markets (Joint Corporate
Broker)
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Tel: +44 (0) 20 7653
4000
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Jamil Miah
Rupert
Walford
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Stifel Nicolaus Europe Limited (Joint
Corporate Broker)
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Tel:
+44 (0) 20 7710 7600
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Matt Blawat
Ben
Maddison
Francis
North
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Q4 PR
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Tel: +353 (0) 1 475
1444
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Iarla Mongey, Public
Relations Advisor to Uniphar Group
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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.