PharmaSGP: shares under pressure after nine-month figures

After PharmaSGP recently had to withdraw its forecast for 2020, the pharmaceutical company will present figures for the first nine months of 2020 on Monday. Turnover was 48.6 million euros after 45.7 million euros in the same period last year. On an adjusted basis, earnings before interest and taxes increased from 14.3 million euros to 15.4 million euros. “The one-time costs amounted to 1.4 million euros and include costs for the corporate and organizational structuring of the PharmaSGP Group,” said the company about the unadjusted earnings before interest and taxes, which amount to 14.1 million euros. The bottom line is that PharmaSGP shows a profit decline from 10.9 million euros to 10.5 million euros.

“While the COVID-19 pandemic had only a minor impact on our business development in spring 2020, this massively worsened situation in European countries also had negative effects on sales development and distribution in our country in the fourth quarter. Particularly for the new products introduced from the end of the third quarter, the sales figures are not developing as dynamically as is normal and do not correspond to the planning we expected for the fourth quarter. Furthermore, restrictions in the logistics and distribution process have negative effects on our overall portfolio, ”says Natalie Weigand, CEO of PharmaSGP.

The company does not present a new outlook for 2020 today. For example, “a reliable assessment of the sales and earnings development for the fourth quarter and thus also for the specific business development in 2020 as a whole is not yet possible,” said the newcomer, whose share remains under pressure. In XETRA trading, the paper is currently losing more than 8 percent to 25.00 euros.

Security data: PharmaSGP
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Ticker symbol: PSG
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