PharmaSGP Exceeds Expectations with Record Breaking €85.5 Million in Revenue for 2022
PharmaSGP Exceeds Expectations with Record Breaking €85.5 Million in Revenue for 2022

PharmaSGP Exceeds Expectations with Record Breaking €85.5 Million in Revenue for 2022

  • 20-Feb-2023 1:01 PM
  • Journalist: Timothy Greene

Grafelfing, Germany [Europe]: PharmaSGP, a Munich-based OTC pharmaceuticals company, achieved revenues of between €85.5 and €86 million for financial year 2022 - surpassing the top end of its initial forecast of €82 to €86 million. This impressive result is attributed to the positive business trend in November 2022.

PharmaSGP has seen remarkable revenue growth in 2021 and 2022, exceeding expectations. In 2021, their revenue set a new record, and in 2022 the company reported an increase of more than 30%.

PharmaSGP achieved a new record in earnings for the financial year of 2022, exceeding expectations. Preliminary, unaudited figures showed an adjusted EBITDA of between €27.7 million and €28.3 million with an adjusted EBITDA margin ranging from 30% to 33%, in relation to revenues. This is the top end of the forecasted range.

“The strong and profitable growth dynamic of the first nine months of 2022 continued unabated in the fourth quarter,” as CFO Michael Rudolf states. CEO Natalie Weigand states: “30% growth in 2022 combined with consistently high profitability speaks for itself. This strong performance was mainly driven by the successful integration and development of the products acquired from GlaxoSmithKline, but also in particular by the growth in our existing portfolio. This impressively demonstrates the value added that we can create both organically and inorganically thanks to our platform strategy.”

PharmaSGP is confident that it will be able to stay the course in 2023 financial year. “We have the structural and financial preconditions in place to reinforce our unique European platform with further acquisitions and achieve continuing growth,” states CFO Michael Rudolf. “We will be issuing concrete revenues and earnings forecast for the current 2023 financial year in April.”

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