In the year leading up to June, Uniphar saw a nearly 10% profit increase, crediting this uplift to expansion across all sectors of the company. The Uniphar Pharma division saw the most significant growth, achieving an organic gross profit increase of over 20%. The total gross company profit increased by 9.9% to €206.7 million, including a 7.4% organic growth. Reported revenue experienced over a 10% increase, reaching €1.37 billion, and pretax profit enjoyed a 2.8% climb to €23.4 million. The Earnings before Interest, Taxes, Depreciation and Amortisation (EBITDA) came in just below €56 million, marking a 6.3% boost, signalling the successful implementation of the company’s strategic approach. Despite increased financing costs during this period, adjusted earnings per share saw a minor rise from the previous year’s 8 cent to 8.1 cent. Uniphar Supply Chain & Retail, a pharmaceutical wholesaler, noted an 8.1% growth in gross profit, capitalising successfully on strong market demand, while Uniphar Medtech saw a 3.4% uptick.
“The last half-year has been strong for Uniphar, showing that our hard work in setting firm foundations for the next stage of growth is paying off,” stated CEO Ger Rabbette, “Our strategic investments in IT and infrastructure will further enhance our capacity to generate organic growth while providing a formidable platform for realising synergies from future acquisitions. We remain confident in our target of achieving Ebitda of €200 million over the medium term.”
Uniphar reports steady liquidity, with a net bank debt of €143.6 million at the end of June, a decrease from December 2023’s reported debt of close to €150 million. The interim dividend rose by 5% with the board announcing an interim ordinary share dividend of €0.0067.
Uniphar plans to meet its targets for the year, anticipating continued organic gross profit growth across its entities. The latest episode of our Inside Business podcast, released weekly, can be found here.