REG - Uniphar PLC - AGM Statement

UnipharAnnouncement

09/05/2024 07:00

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RNS Number : 6958N  Uniphar PLC  09 May 2024

 

 

AGM Statement

 

 

Dublin, London | 9 May 2024

 

Uniphar plc (the "Company" or "Uniphar") is holding its AGM today at 11am BST
at the office of William Fry, LLP, 6th Floor, 2 Grand Canal Square, Dublin 2,
D02 A342, Ireland.

 

At the AGM, Maurice Pratt, Chairman of Uniphar, will make the following
statement:

 

"I am pleased to report that 2023 was another successful year for Uniphar. The
Group achieved a significant milestone of doubling 2018 pro-forma EBITDA ahead
of the timeframe committed to at the time of IPO. We also announced a new
ambitious target of growing Group EBITDA to €200m over the medium-term. This
will be achieved through a combination of strong organic growth complemented
with acquisitions that meet our disciplined strategic and financial criteria.

 

We have also reorganised into three new divisions - Uniphar Supply Chain &
Retail, Uniphar Medtech, and Uniphar Pharma - to better capitalise on growth
opportunities and align with our customers and stakeholders.

 

Financial performance during 2023 was strong with organic gross profit growth
of 5.6%, driven by growth across each of our three divisions. EBITDA increased
to €116.0m, reflecting 17.7% growth, reported free cash flow conversion was
strong at 78.5% and we maintained modest leverage at 1.6x.

 

We have commenced our multi-year strategic capital expenditure in an IT and
ERP investment programme and this is progressing to plan. M&A remains a
key component of our growth strategy and the Group completed the acquisitions
of the McCauley Pharmacy Group and certain assets from Pivot Digital during
the year.

 

I am pleased to report a good start to 2024, with performance in the first
four months in line with the Board's expectations. Uniphar remains well
positioned to deliver organic gross profit growth across each division in line
with previous guidance and to deliver expectations for the full year.

 

Sustainability continues to form a key part of Uniphar's culture and business
practices, and we made continued progress across all five of our
sustainability pillars. The Group's MSCI rating was upgraded to "AAA" during
2023 and it maintained its CDP 'B' rating for a second consecutive year. We
are also delighted to announce that last month the near-term science-based
emissions reduction targets submitted by the Group to SBTi received formal
validation.

 

Finally, I'd like to express my appreciation for the considerable effort and
unwavering commitment from our Uniphar colleagues, management, and fellow
Directors over the previous year. I would also like to thank our shareholders,
the executive team, and all our global teams for their loyalty, diligence, and
dedication during 2023."

 

 

--- 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, 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.

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