Castelvecchio Pascoli (Lucca, Italy), 27 May 2022 – 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 approved the unaudited consolidated results for the first quarter of 2022.
The following figures are on a consolidated basis.
Our sales of plasma-derivative products in the first three months of 2022 remained in line with the corresponding period in 2021, with better than forecasted performances across all geographies. Notwithstanding the strong performance in plasma-derivative sales, we recorded EUR 119.4 million in revenues for this quarter, with a decrease of 2.9% compared to our revenues for the first quarter of 2021 (EUR 123.0 million), with the decrease mainly driven by lower plasma sales to third parties.
During the first quarter 2022 plasma collection volumes increased compared to the previous year.
Reported EBITDA stood at EUR 9.3 million, with EUR 23.7 million adjusted EBITDA in the three months ended March 31, 2021, with a decrease compared to the same period in 2021 due to the sale of plasma centers in Q1 2021. Excluding the impact of the sale of plasma centers, adjusted EBITDA increased 7% year-on-year.
Excluding the impact of IFRS 16, as of March 31, 2022 Kedrion’s Net Financial Position totaled EUR 623.7, including EUR 66.9 million in cash. The company has EUR 203.9 million in undrawn credit lines.
Kedrion is a 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 to fractionation and production in its manufacturing facilities located in Italy, Hungary and North America. Headquartered in Castelvecchio Pascoli (Lucca, Italy), Kedrion has over 2,800 employees and a commercial presence in 100 countries worldwide.