Released – 29 March  2019   16:44 GMT
RNS Number:  5585U
Kedrion S.p.A.
29 March 2019


Castelvecchio Pascoli (Lucca, Italy), 29 March 2019 – The Board of Directors of Kedrion S.p.A., a biopharmaceutical company that specializes in the development, production and distribution of plasma-derived therapies and in the collection of plasma, has today approved the draft individual financial statements and the consolidated financial statements for the fiscal year 2018.

The following key figures are reported on a consolidated basis.

In 2018, Kedrion recorded a turnover of Euro 687.9 million (Euro 602.5 million in 2017), representing a 14.2% increase compared to the previous year. Revenues from the sale of plasmaderivatives were Euro 513.9 million (74.7% of the total) up 4.9% from 2017 thanks to the positive trend of immunoglobulin, both in volume and price. The plasma segment generated revenues for Euro 155.1 million (22.6% of the total), a strong growth of  Euro 61.2 million with respect to 2017 thanks to higher availability of plasma.

Concerning the geographic mix, the United States are the Company’s main market with 41.0% of the total revenues, followed by the European Union (36.2%), headed by Italy.

The adjusted EBITDA increased by 6.3% to Euro 148.7 million (Euro 139.9 million in 2017), representing a margin of 21.6% (23.2% in 2017), whereas the EBIT – still affected by the significant one-off costs mainly linked to the restart of the Melville plant after the full refitting of the facility – was Euro 20.6 million compared to Euro 51.6 million in 2017.

Net income for the year was Euro 11.6 million (1.7% of revenues), compared to Euro 6.2 million in 2017 (1.0% of revenues).

Kedrion made total investments for Euro 79.9 million (Euro 93.8 million in 2017), of which Euro 47.0 million dedicated to plasma collection centers. In line with its plasma sourcing strategy, net of the six non-core centers divested during the year, Kedrion purchased or opened eight collection centers in the United States and one in Hungary. As of December 2018, the Company’s network included 27 plasma centers.

The net working capital has grown from Euro 285.6 million in 2017 to Euro 296.5 million in 2018 mainly due to the inventory increase for the restart of the Melville plant; however the net working capital  incidence on revenues has decreased from 47,4% to 43.1% .

As a result of the level of capital expenditures and one-off costs, the net financial position as at 31 December 2018 reached Euro 496.4 million (Euro 444.6 million at the end of 2017), including Euro 116.3 million in cash. In addition the Company has Euro 135.2 million available in undrawn credit lines, which increases its liquidity position to Euro 251.5 million.


Key financial metrics for FY 2018


The individual financial statements for the year ended 31 December 2018 will be submitted for approval of the Annual General Meeting of Stockholders on 29 April 2019. During the same meeting, the Board of Directors will also present the consolidated financial statement for the year 2018.


For further information, please write to [email protected]  


About Kedrion

Kedrion is a leading biopharmaceutical company that specializes in the development, production and distribution of plasma-derived therapeutic products for use in treating serious diseases, disorders and conditions such as immune system deficiencies and coagulation disorders.

The Company operates through a fully integrated business model from the collection of plasma in its own centers in the United States, Hungary and Germany to fractionation and production in its manufacturing facilities located in Italy, Hungary and the United States.

Headquartered in Castelvecchio Pascoli (Italy), Kedrion has over 2,600 employees and a commercial presence in approximately 100 countries worldwide.

Kedrion places a high value on the welfare of those who benefit from its products, as well as on the people and the communities it serves.

Additional information about Kedrion can be found at



This document contains forward-looking statements on overall economic development as well as on the business and assets position of Kedrion S.p.A. and its subsidiaries. These statements are based on current plans, estimates, forecasts and expectations of the company and are thus subject to risks and elements of uncertainty that could result in significant deviation of actual developments from expected developments. The forward-looking statements are only valid at the time of publication. Kedrion does not intend to update the forward-looking statements and assumes no obligation to do so.