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 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.
--- 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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|
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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,
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.