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27-11-2018

Results as of 30 September 2018

Released: 27/11/2018 – 17:30 GMT
RNS Number: 6841I
Kedrion S.p.A.

Castelvecchio Pascoli (Lucca, Italy), 27 November 2018 – 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, notes the recent decline in the price of its €350,000,000 3.000% bond due 12 July 2022. As well as confirming that it is not aware of any reason for this price movement, the Board of Directors is taking the opportunity to release the highlights of the Company’s consolidated results for the nine months ended 30 September 2018.

Key consolidated Profit and Loss figures for the 9 months ended 30 September 2018:

  • Revenues totaled Euro 438.6 million, a 7.0% increase compared to the same period last year;
  • Adjusted gross margin reached Euro 166.7 million (38.0% of revenues), up 15.9% compared to the same period last year;
  • Adjusted EBITDA increased by 7.9% to Euro 104.8 million (23.9% of revenues).

Net financial position and liquidity as of 30 September 2018:

  • Net financial position reached Euro 520.1 million compared to Euro 507.0 million as at 30 June 2018, driven by the increase in the net working capital and the investments for the acquisition of plasma collection centers;
  • Cash and cash equivalents amounted to Euro 65.8 million compared to Euro 63.3 million as at 30 June 2018;
  • In addition, as of 30 September 2018, the Company had Euro 34.5 million of available short term credit lines and Euro 118.3 million available undrawn medium-long term credit facilities, for a total liquidity position of Euro 218.6 million.
     

For further information, please write to investor@kedrion.com  

 

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 2,400 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 kedrion.com

 

For more information please contact: investor@kedrion.com