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Home>Clinigen Group plc: Full Year Results

Clinigen Group plc: Full Year Results

Clinigen Group plc: Full Year Results

09/28/2017

Clinigen Group plc: Full Year Results

Strong Performance with Adjusted EPS up 25%

Clinigen Group plc (AIM: CLIN, ‘Clinigen’ or ‘the Group’), the global pharmaceuticals and services group, has today published its full year results for the year ended 30 June 2017.

FINANCIAL SUMMARY

Year ended 30 June       2017       2016       Growth
        £m       £m        
Revenue       302.3       339.9       (11)%
Adjusted gross profit       122.8       100.7       22%
Adjusted EBITDA       65.1       53.7       21%
Cash generated from operations       54.7       49.4       11%
Reported earnings per share       3.3p       11.9p       (72)%
Adjusted earnings per share       41.8p       33.4p       25%
Dividend per share       5.0p       4.0p       25%
Net debt       35.0       68.1        

Note: The Group results on an adjusted basis exclude amortisation and non-underlying costs (see note 2 and 3 of this financial information). Adjusted EBITDA is also adjusted to include the Group’s share of EBITDA from its joint venture. Adjusted EBITDA and adjusted EPS metrics are now shown after share-based payments of £2.5m (2016: £2.3m). Prior year has been restated accordingly.

HIGHLIGHTS

  • Adjusted gross profit up 22% - driven by organic growth, full year’s contribution from Link Healthcare (‘Link’) and currency benefits
  • Adjusted EPS up 25% to 41.8p (2016: 33.4p)
  • Strong cash flow performance with cash generated from operations of £54.7m (2016: £49.4m)
  • Net debt substantially decreased by £33.1m to £35.0m (2016: £68.1m)
  • Full year dividend increased 25% to 5.0p (2016: 4.0p)
  • Strong growth across all operations
  • Outstanding performance in Africa and Asia Pacific
  • Dexrazoxane portfolio revitalisation significantly enhanced by EC approval to update product information for Cardioxane, and launch of Totect in US
  • New simplified reporting structure comprising Clinical Trial Services (‘CTS’), Unlicensed Medicines and Commercial Medicines

POST PERIOD END

  • Proposed acquisition of Quantum Pharma plc (‘Quantum’) for £150.3m announced on 13 September 2017 subject to Quantum’s shareholder approval

Shaun Chilton, Group Chief Executive Officer, said:

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