STALLERGENES GREER ANNOUNCES ITS 2016 FULL YEAR RESULTS

29 March, 2017 - Stallergenes Greer (the “Company”), a biopharmaceutical company specializing in treatments for respiratory allergies, today announced its full year results for the year ended 31 December 2016. The results were reviewed and agreed by the Company’s Board of Directors on 29 March 2017.

FY 2016, a turnaround year

  • Group total revenues of €186.4 million
  • Gross margin of €101.1 million
  • Net loss of €60.5 million

 

H2 2016 shows strong progress

  • Total revenues up 21% to €108.2 million from H2 2015 pro forma revenues
  • Total revenues up 39% from H1 2016
  • Gross margin up 45% to €66.4 million from pro forma H2 2015 gross margin of €45.8 million

 

FY 2016 Financial Highlights

In € millions

H1 2016

H2 2016

FY 2016

FY 2015

FY 2015

Unaudited

Unaudited

Audited

Pro forma (unaudited)[1]

Audited

Net sales

78.0

108.2

186.2

272.9

81.7

Other revenue

0.1

0.1

0.2

0.2

0.1

Gross margin

34.7

66.4

101.1

182.9

43.8

EBIT before transformation costs

(57.1)

(35.4)

(92.5)

(19.4)

(64.7)

EBITDA[2]

(45.1)

(22.6)

(67.7)

n/a

(53.4)

Net profit/(loss)

(39.0)

(21.5)

(60.5)

(8.8)

(49.3)

 

 

Fereydoun Firouz, Chairman and Chief Executive Officer of Stallergenes Greer, commented:
Stallergenes Greer progressed strongly in FY 2016, our first year as a consolidated Group, meeting the three strategic goals we set ourselves at the beginning of the period. Namely, we invested in our manufacturing and supply chain capabilities, generated increased demand for our comprehensive product portfolio and strengthened our R&D pipeline. Importantly, these were all achieved as a result of a committed, transformed and stronger organization. Our European and International sales and market share recovered in H2 2016 demonstrating good execution of our RESTART programme. In the US, we are the leading Biopharmaceutical Company solely focused on allergy immunotherapy. Our ambition in 2017 and beyond is clear: establishing global leadership in allergy immunotherapy and thus realising our purpose of enabling people to live a life beyond allergy.”

Stallergenes Greer’s financial objectives for 2017 are as follows:

  • Total revenue growth of c.30-45% to €240-270m
  • EBITDA positive

Webcast and Conference Call Information

The company will host an Investors and Analysts meeting on 30 March 2017. The event will also be available via live webcast at 2.00 pm CET / 1.00 pm BST / 8.00 am EDT. The webcast will be available via the following link: http://edge.media-server.com/m/p/eucn8utk

Please connect at least 15 minutes prior to the conference to register, download and install any necessary audio software.

Financial Calendar

  • 28 April 2017 - Annual Report Filing
  • 8 June 2017 - Annual General Meeting
  • 30 August 2017 - H1 2017 Results

[1] The unaudited pro forma consolidated income statement for the year ended 31 December 2015 has been prepared on the basis that the merger was effected on 1 January 2015.

[2] EBITDA measure introduced in 2016 to provide a better view on the underlying business performance