Core Insights - Fagron reported a strong performance in FY 2025 with a 9.2% topline growth and a 10.9% increase in REBITDA [1][6] Financial Performance - Revenue reached €952.2 million, exceeding guidance, with a reported growth of 9.2% (12.9% at constant exchange rates) [7] - Organic growth at constant exchange rates was 9.1%, driven by sustained underlying demand and disciplined commercial execution [7] - REBITDA increased by 10.9% year-over-year to €192.9 million, resulting in a REBITDA margin of 20.3% [7] - Operating cash flow was €155.3 million, with free cash flow of €125.9 million, reflecting a 29.0% year-over-year increase [7] - The leverage ratio decreased to 1.2x from 1.4x in 2024, providing capacity for expansion capital expenditures and acquisitions [7] - Earnings per share (EPS) rose to €1.25, a 13.6% increase year-over-year, with a 9% compound annual growth rate over the last eight years [7] - A dividend proposal of €0.40 per share was made, marking a 14.3% increase year-over-year [7] Regional Performance - EMEA showed resilient performance due to geographical diversification and integration of recent acquisitions [4] - Latin America, particularly Brazil, maintained strong momentum driven by the Brands portfolio and innovation pipeline [4] - North America-Pacific benefited from outsourcing demand and onboarding new customers, alongside ongoing efficiency initiatives [4] Strategic Initiatives - The company experienced significant M&A activity, announcing 12 acquisitions across all regions and segments, with integration progressing as planned [5][7] - The company remains focused on execution and capturing synergies from acquisitions [5] - The outlook for FY 2026 includes mid- to high-single digit organic sales growth and slight margin improvement year-over-year [7]

Group 1 - Fagron has obtained regulatory clearance for the acquisition of Vepakum in Brazil and has completed the acquisition of Magilab in Hungary [1][9] - The acquisition of Vepakum will enable Fagron to enter a new vertical in high-quality packaging solutions, providing scale benefits through joint packaging, distribution, and shared services [2] - The acquisition of Magilab strengthens Fagron's position in Hungary's hospital pharmacy segment, which has a high compounding per capita, and supports operational leverage through integration and scale [3] Group 2 - Fagron is a leading global company in pharmaceutical compounding, focusing on personalized medicine delivery to hospitals, pharmacies, clinics, and patients in over 35 countries [5] - The company is based in Nazareth, Belgium, and is listed on Euronext Brussels and Euronext Amsterdam under the ticker symbol 'FAGR' [6]

Core Insights - Fagron has completed the acquisition of University Compounding Pharmacy (UCP), a 503A pharmaceutical compounder in California, enhancing its position in the health and wellness segment [1][2] - The acquisition is valued at approximately $41.5 million, with UCP generating annual revenues of around $25 million and an EBITDA margin lower than Fagron's existing group margin [3] - Fagron aims to realize synergies from the integration of UCP over the next 18 to 24 months, as part of its strategy to build a nationwide platform in the United States [3][4] Company Strategy - The acquisition of UCP complements Fagron's existing operations, particularly with Anazao, and strengthens its footprint in California, a highly regulated healthcare market [2][4] - Fagron has executed fourteen acquisitions across various regions recently, indicating a strategy of selective expansion and vertical integration [3][5] - The company remains focused on execution and integration of acquired businesses to build a larger, higher-quality compounding platform [5] Financial Outlook - Fagron's financial calendar includes key dates for full-year results, trading updates, and the annual general meeting, with the next full-year results scheduled for February 12, 2026 [5]

Core Insights - Fagron has successfully completed the acquisition of Purifarma in Brazil, marking a significant step in its M&A strategy and enhancing its scalable platform for long-term growth [1][2][3] Group 1: Acquisition Details - The acquisition of Purifarma, valued at approximately R$250 million, is expected to provide procurement benefits in Latin America and across Fagron's global operations [2] - Purifarma is recognized as a large-scale Essentials business with a competitive product portfolio and significant volumes, which will allow Fagron to improve its product mix and extend its reach to industrial clients [2][3] Group 2: Strategic Commentary - CEO Rafael Padilla emphasized that the completion of this acquisition strengthens Fagron's position in Brazil and aligns with its disciplined buy-and-build strategy, focusing on scale, procurement, and access to industrial clients [3] - The company aims to remain selective and execution-focused during the integration of Purifarma to build a larger and more efficient platform [3] Group 3: Company Overview - Fagron is a leading global company in pharmaceutical compounding, delivering personalized medicine to various healthcare providers in over 35 countries [5] - The company is headquartered in Nazareth, Belgium, and operates through its Dutch subsidiary, Fagron BV, which is based in Rotterdam [6]

Core Insights - Fagron is expanding its global presence through two strategic acquisitions: Amber Compounding Pharmacy in Singapore and Malaysia, and Vepakum in Brazil, enhancing its capabilities in the pharmaceutical compounding market [1][2] - The acquisitions are expected to generate approximately €26 million in annual revenue with an EBITDA margin exceeding the current group margin, at a total purchase price of around €55 million, resulting in an average EV to EBITDA multiple of about 8x [3] - Fagron has also secured a license for its Anazao Health facility in Tampa, allowing the shipment of compounded medications to California, which strengthens its position in the U.S. healthcare market [4][7] Acquisition Details - Amber Compounding Pharmacy operates five strategic locations in Singapore and Malaysia, recognized as a leader in the compounding market, serving clinics, hospital pharmacies, and distributors [5] - Vepakum, based in São Paulo, Brazil, provides high-quality packaging solutions, enabling Fagron to achieve scale benefits through joint packaging and distribution [6] Licensing and Operational Updates - The license obtained for the Tampa facility allows for the shipment of compounded medications on a prescription basis, marking a significant milestone in Fagron's nationwide platform for Health and Wellness services [7][8] - Following the licensing, all Fagron facilities in the U.S. can now ship compounded medications to California, significantly enhancing operational flexibility [9]

Core Insights - Fagron has strengthened its leadership in the EMEA region through acquisitions in Poland and Hungary, aligning with its strategy to diversify in dynamic markets and emphasizing its disciplined M&A approach for sustainable growth [1][2][8] Acquisitions - The acquisitions of Amara in Poland and Magilab in Hungary are expected to contribute mid-teens (€m) in annual revenue with an EBITDA margin exceeding Fagron's existing group margin, with a combined purchase price of approximately €26 million [2][4][5] - Amara brings over 30 years of experience in the Polish compounding sector and enhances Fagron's offerings while unlocking significant synergy potential [4] - Magilab is a trusted brand in Hungary's hospital pharmacy segment, consolidating Fagron's position in a market characterized by high compounding per capita [5] Financial Developments - Fagron has secured a new U.S. dollar credit facility totaling up to $225 million with maturities extending up to 15 years, enhancing financial flexibility and supporting growth ambitions in North America [6] - An initial $125 million has been drawn from this facility, which complements an existing €575 million bank facility [6] Licensing and Market Presence - Fagron has received a license for its Fagron Sterile Services facility in Boston, allowing the shipment of compounding medication to California, a significant step in reinforcing its presence in a major U.S. healthcare market [3][7] - This license enables all of Fagron's 503B facilities in the U.S. to ship to California, unlocking further opportunities with key customers [7] Strategic Vision - The CEO of Fagron highlighted that the acquisitions and financial developments are crucial for consolidating leadership in EMEA and supporting global ambitions in the B&E segment [8][9] - The company emphasizes its commitment to disciplined M&A, operational excellence, and prudent balance sheet management as key enablers of sustained growth and long-term success [10]

Group 1 - Fagron completed a share buy-back program, repurchasing a total of 200,000 shares at an average price of €20.6805, amounting to €4,136,093 [1][2] - The recent buy-back occurred from 10 November 2025 to 14 November 2025, during which 44,000 shares were bought at an average price of €20.7208, totaling €911,717 [1] - The buy-back program was announced on 9 October 2025, and the repurchased shares will be used to meet obligations under Fagron's long-term incentive scheme [2] Group 2 - Fagron is a leading global company in pharmaceutical compounding, providing personalized medicine to hospitals, pharmacies, clinics, and patients in over 35 countries [4] - The company is based in Nazareth, Belgium, and is listed on Euronext Brussels and Euronext Amsterdam under the ticker symbol 'FAGR' [5] - Operational activities are managed through Fagron BV, which is headquartered in Rotterdam [5] Group 3 - The financial calendar includes key dates such as the full year results for 2025 on 12 February 2026 and the trading update for the first quarter of 2026 on 9 April 2026 [3]

Group 1 - Fagron has initiated a share buy-back program, purchasing 20,000 shares at an average price of €20.609, totaling €412,180 from 16 October 2025 to 17 October 2025 [1] - The share buy-back program aims to fulfill obligations under Fagron's long-term incentive scheme, with a total of up to 200,000 shares planned for repurchase [1] - To date, Fagron has purchased a total of 20,000 shares under this program [1] Group 2 - Fagron is a global leader in pharmaceutical compounding, providing personalized medicine to hospitals, pharmacies, clinics, and patients in over 30 countries [3] - The company is registered in Belgium and listed on Euronext Brussels and Euronext Amsterdam under the ticker symbol 'FAGR' [4] - Operational activities are managed by Fagron BV, headquartered in Rotterdam, Netherlands [4]

Core Insights - Fagron reported a solid third-quarter performance with a revenue growth of 6.4%, reaching €228.2 million, and confirmed its full-year revenue outlook of €930 – €950 million for 2025 [1][6][7] Group 1: Financial Performance - The company achieved an organic growth rate of 8.5% at constant exchange rates (CER) on a normalized basis, and 5.7% when accounting for the impact of GLP-1 drug shortages [7] - Revenue for Q3 2025 was €228.2 million, reflecting a 6.4% increase and a 10.3% increase at CER, driven by resilient structural drivers and focused commercial execution [7] Group 2: Regional Performance - EMEA showed broad-based progress across Brands, Essentials, and Compounding Services, with a mix of mature and growth markets responding positively to commercial efforts [3] - Latin America, particularly Brazil, continued strong momentum with targeted commercial activities and product launches supporting increased adoption [4] - North America remains a key growth engine, with planned capacity expansion and successful FDA inspections validating corrective actions [4] Group 3: M&A Activity - The company maintained momentum in mergers and acquisitions (M&A), signing University Compounding Pharmacy to strengthen its health and wellness platform in the U.S. [5] - Antitrust clearance for Purifarma and Injeplast in Brazil marks a significant milestone for expanding Fagron's portfolio and capabilities [5] - A total of eight acquisitions have been announced year-to-date, indicating ongoing strategic growth initiatives [7]

Core Viewpoint - Fagron has received Brazilian antitrust clearance for the acquisitions of Purifarma and Injeplast, marking a significant advancement in its M&A strategy in Latin America [1][2]. Group 1: Acquisitions and Strategic Importance - The acquisitions of Purifarma and Injeplast will enhance Fagron's portfolio and capabilities in Brazil, aligning with the company's long-term growth objectives [2]. - Purifarma's large-scale operations in Essentials present substantial potential for profitability improvements within 18 months post-closing through product portfolio expansion and operational efficiencies [3]. - Injeplast will enhance Fagron's vertical integration by providing high-quality packaging solutions, thereby broadening the product portfolio and customer base in Latin America and other regions [4]. Group 2: Management Commentary - CEO Rafael Padilla emphasized that the approvals from CADE facilitate the closing of the acquisitions, reinforcing Fagron's leadership in Brazil and supporting its strategy of combining targeted M&A with operational excellence while maintaining financial discipline [5]. Group 3: Company Overview - Fagron is a leading global company in pharmaceutical compounding, delivering personalized medicine across more than 35 countries [6]. - The company is based in Nazareth, Belgium, and is listed on Euronext Brussels and Euronext Amsterdam under the ticker symbol 'FAGR' [7].