Profitability focus pays off for the Abacus Medicine Group.

02/03/2023

The Abacus Medicine Group celebrated passing the EUR 1 billion milestone for revenue in 2022. All parts of the Group contributed to organic revenue growth of 9% to EUR 1,024 million.  

Increasing profitability was a declared target for the Group for 2022 and this was successfully achieved. Based on strong performance especially in the parallel distribution business EBITDA grew 58% to a record level of EUR 26.2 million. The EBITDA margin improved to 2.6%, up from 1.8% the year before. 

“We can be happy with our performance in 2022. We significantly improved profitability and reduced debt, while still making large investments for the future in our commercial and operational infrastructure. The Abacus Medicine Group is well positioned for further profitable growth in the coming years. We have many ways to create value for society and for our shareholders,“ says CEO Flemming Wagner. 

Investing in key processes and reducing debt 

In a time of higher interest rates, the Group reduced its net interest-bearing debt to EUR 40.5 million from EUR 58.4 million the year before. The leverage ratio improved to 1.5 in 2022 from 3.5 in 2021. 

This was done simultaneously with making large investments in adding staff and upgrading IT-systems to strengthen key processes such as purchasing, price setting, and portfolio management. The Group expects that the investment level will remain high in 2023.

View the full Annual Report 2022 for the Abacus Medicine Group.