APONTIS PHARMA AG
ISIN: DE000A3CMGM5
WKN: A3CMGM
07 November 2024 07:30AM

EQS-News: APONTIS PHARMA reports profitable revenue growth for Single Pill combinations in 9M 2024 – revenue guidance adjusted

APONTIS PHARMA AG · ISIN: DE000A3CMGM5 · EQS - Company News
Country: Germany · Primary market: Germany · EQS NID: 2024227

EQS-News: APONTIS PHARMA AG / Key word(s): 9 Month figures/Change in Forecast
APONTIS PHARMA reports profitable revenue growth for Single Pill combinations in 9M 2024 – revenue guidance adjusted

07.11.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.


APONTIS PHARMA reports profitable revenue growth for Single Pill combinations in 9M 2024 – revenue guidance adjusted

  • Revenue growth for Single Pill combinations in 9M 2024 to EUR 26.2 million (9M 2023: EUR 17.9 million)
  • Novartis collaboration (asthma products) contributes EUR 5.6 million to revenues
  • EBITDA rises to EUR 2.7 million (9M 2023: EUR -7.0 million) on the back of higher revenues and a reduced cost base
  • Net result profitable at EUR 0.8 million (9M 2023: net loss of EUR 6.2 million)
  • Full-year revenue forecast for 2024 lowered slightly to EUR 48.7 million (previously: EUR 50.7 million), mainly due to delays in the effectiveness of the revised marketing concept – EBITDA forecast unchanged at EUR 3.3 million

Monheim am Rhein, November 7, 2024 – APONTIS PHARMA AG (Ticker APPH / ISIN DE000A3CMGM5), a leading pharmaceutical company specializing in Single Pill combinations in the German market, continued its profitable revenue growth with Single Pill combinations in the third quarter of 2024. The revised marketing concept is having an effect, albeit not yet at the planned rate. APONTIS PHARMA thus remains on a profitable growth path.

The 47% growth in the core business with Single Pill combinations to EUR 26.2 million (9M 2023: EUR 17.9 million) resulted from the improved supply capacity for Atorimib (+EUR 6.9 million) and the development of the remaining Single Pill portfolio (+EUR 1.4 million). Contrary to the original planning, sales with Tonotec only fell by EUR 1.5 million. Due to the tender situation, the company had expected a decline of EUR 2.6 million for Tonotec. Revenue in the cooperation business rose to EUR 8.5 million (9M 2023: EUR 7.8 million). The cooperation with Novartis for the products Atectura and Enerzair, which began in April 2024, already contributed EUR 5.6 million to revenue. Overall, APONTIS PHARMA generated total revenue of EUR 35.9 million, an increase of 32.4% over the same period of the previous year (9M 2023: EUR 27.1 million).

Earnings before interest, taxes, depreciation and amortization (EBITDA) improved by EUR 9.7 million to EUR 2.7 million (9M 2023: EUR -7.0 million). This development was driven in particular by the significantly reduced cost base as a result of the successfully completed restructuring, but also by higher revenues from Single Pill combinations. Cash outflow from operating activities decreased to EUR -5.0 million (H1 2023: EUR -13.4 million) and was particularly characterized by the outflow of funds in the amount of EUR 5.6 million from the restructuring provision formed in the previous year. With an equity ratio of 68.4% and a net liquidity of EUR 14.3 million (December 31, 2023: EUR 20.8 million), APONTIS PHARMA continues to have a solid financial position.

Full-year revenue forecast for 2024 slightly lowered – EBITDA forecast unchanged

Taking into account delays in the effectiveness of the revised marketing concept, the Executive Board of APONTIS PHARMA AG has decided to slightly reduce the total revenue forecast for the 2024 financial year to EUR 48.7 million (previously: EUR 50.7 million). Revenues of EUR 34.0 million (previously: EUR 36.0 million) are expected for the Single Pill combination business. EBITDA for the full year 2024 is still expected to be EUR 3.3 million.

Bruno Wohlschlegel, CEO of APONTIS PHARMA: “The first nine months of 2024 have been successful for APONTIS PHARMA. We have realigned, streamlined and strengthened the organization – we have returned to a growth path. We were able to achieve a significantly positive result again. In addition to the noticeably reduced cost base, the revenue growth of the Single Pill combinations was decisive. Here, we were able to achieve growth not only with our successful product Atorimib, but also with other Single Pill combinations. The cooperation with Novartis for the two asthma drugs Atectura and Enerzair has also got off to a promising start. At the same time, we see that our revised marketing strategy is gradually taking effect, even though there has been a slight delay in the effectiveness of the revised marketing concept. Consequently, we have slightly lowered our revenue expectations for the full year 2024. However, we are confident that our measures will increasingly materialize.”

Voluntary public purchase offer by Zentiva

After a careful and thorough review of the offer document published by the bidder on October 24, 2024, the APONTIS PHARMA Executive and Supervisory Boards recommend that APONTIS PHARMA shareholders accept the offer. The Executive Board and Supervisory Board of APONTIS PHARMA consider the offer price of EUR 10.00 per APONTIS PHARMA share to be fair, reasonable and attractive from a financial point of view and see an attractive premium of around 52.9% compared to the closing price on October 15, 2024, and a premium of 38.3% compared to the average Xetra closing price over the past three months.

The members of the Executive Board and Supervisory Board of APONTIS PHARMA intend to tender all of their APONTIS PHARMA shares. Zentiva has already secured a stake of approximately 37.5% of the APONTIS PHARMA shares through a purchase agreement with the main shareholder of the Company.

The joint reasoned statement of the Executive Board and Supervisory Board of APONTIS PHARMA AG is published in German on the Company's website in the Investor Relations section under “voluntary public purchase offer” and is also provided in a non-binding English translation. The exact terms of the offer can be viewed at www.zentiva-offer.com.

Group figures (unaudited)

in EUR million   9M 2024   9M 2023  
Single Pill revenue   26.2   17.9   46.8%
Total sales   35.9   27.1   32.4%
EBITDA   2.7   -7.0   n/a
EBITDA margin (in %)   7.7%   -26.0%   n/a
EBIT   1.0   -8.5   n/a
EBIT margin (in %)   2,7%   -31.2%   n/a
Net result   0.8   -6.2   n/a
             
    Sep. 30, 2024   Dec. 31, 2023    
Equity ratio (in %)   68.4%   52.7%   1,570 bps.
Net liquidity   14.3   20.8   -31.5%

Note: The figures for the nine-month period are unaudited. Rounding differences may occur.

Webcast/Conference Call:

CEO Bruno Wohlschlegel, CPO Thomas Milz and CFO Thomas Zimmermann will explain the results for the first nine months of 2024 in a webcast presentation today, November 7, 2024, 11:30 CET. The presentation will be held in English.

Please register for participation in advance at:

APONTIS PHARMA Interim Statement 9M 2024 – Webcast/Conference Call.

The accompanying presentation will also be available on the Company’s website before it begins.

Additional information:

Information on upcoming events can be found at https://apontis-pharma.de/en/financial-calendar and the latest analyst recommendations at https://apontis-pharma.de/en/share-price.

Condensed Group Income Statement (unaudited)

in EUR million   9M 2024   9M 2023  
Sales   35.9   27.1   8.8
Other operating income   1.8   1.2   0.6
Cost of materials   -15.4   -10.2   -5.2
Gross profit   22.3   18.2   4.1
Personnel expenses   -10.5   -14.9   4.5
Depreciation and amortization   -1.8   -1.4   -0.4
Other operating expenses   -9.0   -10.3   1.3
Operating result   1.0   -8.4   9.4
Financial result   -0.1   0.3   -0.4
Result before taxes   0.9   -8.1   9.0
Taxes on income and earnings   -0.1   1.9   -2.0
Result after taxes   0.8   -6.2   7.0
Other taxes   0.0   0.0   0.0
Net result   0.8   -6.2   7.0

Note: The figures for the nine-month period are unaudited. Rounding differences may occur.

Condensed Consolidated Statement of Financial Position (unaudited)

in EUR million   Sep. 30, 2024   Dec. 31, 2023  
Assets            
Fixed assets   18.1   18.4   -0.3
Inventories   6.4   6.6   -0.2
Receivables and other assets   2.7   1.7   1.0
Cash on hand and bank balances   14.3   26.8   -12.5
Prepaid expenses and deferred charges   0.5   0.5   0.0
Deferred tax assets   3.4   3.5   -0.1
             
Liabilities            
Equity   31.1   30.2   0.9
Difference from capital consolidation   0.5   0.6   -0.1
Provisions   7.6   15.3   -7.7
Bank liabilities   0.0   6.0   -6.0
Liabilities   6.2   5.4   0.8
             
Total assets   45.4   57.5   -12.1

Note: The figures as of September 30, 2024, are unaudited. Rounding differences may occur.

Condensed Group Statement of Cash Flows (unaudited)

in EUR million   9M 2024   9M 2023  
Cash flow from operating activities   -5.0   -13.4   8.4
Cash flow from investing activities   -1.5   -1.7   0.2
Cash flow from financing activities   -6.1   0.0   -6.1
             
Net cash flow   -12.6   -15.1   -2.5

Note: The figures for the nine-month period are unaudited. Rounding differences may occur.

About APONTIS PHARMA:

APONTIS PHARMA AG is a leading pharmaceutical company specializing in Single Pill combinations in Germany. Single Pills combine two to three generic active ingredients in a single dosage form administered once a day. Single Pill therapies have been scientifically proven to significantly increase adherence and thus improve the treatment prognosis and quality of life of patients while reducing complications, mortality, and treatment costs. Consequently, Single Pill combinations are the preferred treatment option in numerous international treatment guidelines, including in the EU and Germany. APONTIS PHARMA has been developing, promoting, and distributing a broad portfolio of Single Pill combinations and other pharmaceutical products since 2013, with a special focus on cardiovascular diseases such as hypertension, hyperlipidemia, and secondary prevention. For additional information about APONTIS PHARMA, please visit www.apontis-pharma.de.

APONTIS PHARMA AG

Investor Relations
ir@apontis-pharma.de
T: +49 2173 89 55 4900
F: +49 2173 89 55 1521
Rolf-Schwarz-Schütte-Platz 1
40789 Monheim / Rhein
Germany
apontis-pharma.de

APONTIS PHARMA Press Contact

CROSS ALLIANCE communication GmbH
Sven Pauly
ir@apontis-pharma.de
T: +49 89 125 09 0330



07.11.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: APONTIS PHARMA AG
Rolf-Schwarz-Schütte-Platz 1
40789 Monheim am Rhein
Germany
E-mail: ir@apontis-pharma.de
Internet: https://apontis-pharma.de/
ISIN: DE000A3CMGM5
WKN: A3CMGM
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange
EQS News ID: 2024227

 
End of News EQS News Service

2024227  07.11.2024 CET/CEST

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Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.

The most important financial data at a glance
  2018 2019 2020 2021 2022 2023 2024e
Sales1 44,80 40,04 39,24 51,18 55,73 36,96 48,70
EBITDA1,2 2,81 -1,72 1,00 2,36 5,57 -13,28 3,30
EBITDA-Margin3 6,27 -4,30 2,55 4,61 10,00 -35,93 6,78
EBIT1,4 2,50 -2,29 -0,66 0,62 3,77 -15,16 1,30
EBIT-Margin5 5,58 -5,72 -1,68 1,21 6,77 -41,02 2,67
Net Profit (Loss)1 2,37 -2,39 -1,18 -0,75 2,69 -12,68 1,00
Net-Margin6 5,29 -5,97 -3,01 -1,47 4,83 -34,31 2,05
Cashflow1,7 4,46 -0,24 1,45 3,43 11,02 -12,60 0,00
Earnings per share8 0,28 -0,28 -0,14 -0,09 0,32 -1,49 0,12
Dividend per share8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de and Company information
Explanation

1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de

Auditor: RSM Ebner Stolz

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INVESTOR-INFORMATION
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Apontis Pharma
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
A3CMGM DE000A3CMGM5 AG 85,85 Mio € 11.05.2021 Verkaufen 9F383VCV+FH
* * *
PE 2025e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
27,30 25,63 1,07 53,44 2,84 -6,82 2,32
Dividends
Dividend '2022
in €
Dividend '2023
in €
Dividend '2024e
in €
Div.-Yield '2024e
in %
0,00 0,00 0,00 0,00%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
17.05.2024 08.05.2024 09.08.2024 07.11.2024 28.03.2024
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
+0,50%
10,10 €
ATH 27,80 €
+10,36% +22,16% +112,63% +117,67% -46,84%

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