Abacus Medicine Group: Record full-year result.
High demand and strong execution led to EBITDA growth of 82% in 2023
Press Release
Copenhagen, 01.03.2024
The Abacus Medicine Group exceeded the guidance ranges for both revenue and profitability in 2023. A combination of high demand in core sales markets and solid commercial execution drove organic revenue growth of 18% to EUR 1,210 million (guidance of 1,140-1,190 million) and EBITDA growth of 82% to EUR 47.5 million. The EBITDA margin strengthened to 3.9% (guidance of 3.2-3.6%), up from 2.6% the year before.
The record-breaking performance was driven by strong growth in revenue and profitability in the Pharma Trading division, moderate growth in Pharma Services, and strong profitability growth in the Pharma Wholesale division.
“Our plan is working. In a year of milestones, we delivered record financial results and continued to invest in our employees and our digital infrastructure. We updated and launched the ambitious strategy Access26, and with the excellent result of 2023 we are currently slightly ahead of the target,” says CEO Flemming Wagner.
Investing in people, skills and digital excellence
Strong business momentum at the end of 2023 bodes well for 2024. The Abacus Medicine Group expects to grow revenue at 8-12% in 2024 and maintain the strengthened level of profitability at an EBITDA margin of 3.7-4.1%.
Geographical expansion and developing core capabilities are key elements of Access26, the Group’s updated strategy. In 2024, this will require continued, significant investments in the organisation and employees, and in IT and data excellence based on a unified, digital foundation.
View the full Annual Report 2023 for the Abacus Medicine Group
Contact
Flemming Wagner, CEO
Mobile: +45 20 40 80 21, fw@abacusmedicine.com
Kasper Lytthans, Head of Investor Relations and M&A
Mobile: +45 30 80 89 16, kasper.lytthans@abacusmedicine.com
Ole Lindhardt, Head of Global Communications and Marketing
Mobile: +45 20 18 39 52, ole.lindhardt@abacusmedicine.com
About the Abacus Medicine Group
The activities of the Abacus Medicine Group are organised in three divisions: Pharma Trading, Pharma Services and Pharma Wholesale. The main brands of each division are:
- Abacus Medicine – among the leaders in the European market for parallel distribution of medicine
- Abacus Medicine Pharma Services – supports pharmaceutical companies with the commercialisation of new therapies
- Pluripharm – operates as a wholesaler and supplies medicine, medical devices, and related services to pharmacies, hospitals and directly to thousands of patients in the Netherlands.
The group numbered 1,323 employees at year-end 2023.
EBITDA (EUR million)
