Half Year Trading Update and Notice of Results
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.
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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, 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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