Uniphar PLC AGM Statement (8312N)
26 May 2020 - 4:00PM
UK Regulatory
TIDMUPR
RNS Number : 8312N
Uniphar PLC
26 May 2020
AGM Statement
Dublin, London | 26 May 2020
Uniphar plc (the "Company" or "Uniphar") is holding its AGM
today at 11am BST at Uniphar's registered office, 4045 Kingswood
Road, Citywest Business Park, Dublin 24, D24 V06K.
At the AGM, Maurice Pratt, Chairman of Uniphar, will make the
following statement:
"2019 was a transformative year for Uniphar. On July 17th 2019,
Uniphar successfully completed our dual listing on the Euronext
Growth (Dublin) and AIM (London) stock exchanges. It was a historic
day for the Group, being both a recognition of how much the Group
has developed and grown in the last ten years and a marker of the
beginning of a new era for Uniphar.
The IPO provided the Group with a strong capital structure and
we made a number of key acquisitions during the year while also
growing organically. The significant progress made in the year is
reflected in the financial performance, with Uniphar achieving 56%
growth in gross profit, EBITDA (pre-IFRS 16) growth of 49% and
ending the year with strong liquidity and in a net cash
position.
The Covid-19 outbreak highlights the significant role Uniphar
plays in the national healthcare infrastructure. We have taken all
necessary precautions to ensure our staff remain safe while
responding to this unprecedented challenge and Uniphar remains
committed to ensuring continuity in the supply and distribution of
much needed medicines, medical devices and related services. Based
on the impact on trade during April and a full reforecast exercise
carried out this month, we believe the financial impact to the
Group arising from ongoing Covid-19 disruption to be a reduction in
projected 2020 EBITDA in the region of EUR5m, based on the
assumption that severe restrictions will ease gradually from June
onwards before normalising towards the end of the year. As we
navigate these challenges it's critical that we retain our vital
resources and infrastructure to position the group to deliver its
strategy in the medium term.
The strength of our management team in continuing to
successfully navigate the Group through these challenges has proven
key to date. Our exceptional culture is shining through in the
dedication of our teams and the manner in which they are supporting
each other and responding to the needs of the communities in which
they operate. Our digital focus over the last number of years is
proving to be a core strength and enables our workforce to continue
to operate effectively.
Looking forward, the Board will continue to focus on the Group's
delivery against our ambitious strategic priorities to drive and
enhance shareholder value. Uniphar has made considerable progress
in developing its overall corporate governance towards meeting the
standards required by the UK Corporate Governance Code. This
evolution to deliver best practice will continue to be a priority
for the Board.
I would like to thank the staff, management and Board for the
huge effort they have put in over the past 12 months including
preparing for our dual stock market listing and in responding to
the challenges of Covid-19. Finally, I would like to thank
shareholders, old and new, for their trust and support during a
landmark year for Uniphar."
--- ENDS ---
AGM
In line with the Company's RNS announcement on 19 May 2020,
based on the latest available guidance from the Health Service
Executive ("HSE") in Ireland, the AGM will proceed under very
constrained circumstances and shareholders should not attend in
person. Members may listen to the proceedings of the meeting
remotely by teleconference and later today the results of the
resolutions relating to the AGM will be published. All details
relating to the AGM are contained in the Company's RNS announcement
from 24 April 2020.
For further details contact:
Uniphar +353 (0) 1 428 7777
Brian O'Shaughnessy
------------------------------
Group Director of Corporate Development investor.relations@Uniphar.ie
------------------------------
Davy +353 (0) 1 679 6363
------------------------------
(Joint Broker, Nominated Adviser and Euronext
Growth Adviser)
------------------------------
Fergal Meegan
------------------------------
Barry Murphy
------------------------------
Tom Tynan
------------------------------
RBC Capital Markets (Joint Broker) +44 (0) 20 7653 4000
------------------------------
Darrell Uden
------------------------------
Jonathan Hardy
------------------------------
Jamil Miah
------------------------------
Q4 PR +353 (0) 1 475 1444
or
------------------------------
(Public Relations Adviser to Uniphar) +353 87 235 6461
------------------------------
Iarla Mongey
------------------------------
About Uniphar plc
Headquartered in Dublin, Ireland, Uniphar is an international
diversified healthcare services business servicing the requirements
of more than 200 multinational pharmaceutical and medical
technology manufacturers across three divisions - Commercial &
Clinical, Product Access and Supply Chain & Retail. With a
workforce of more than 2,200, the Group is active in Ireland, the
UK, the Benelux, the Nordics and the US.
The Company's vision is to improve patient access to
pharmaco-medical products and treatments by enhancing connectivity
between manufacturers and healthcare stakeholders. Uniphar
represents a strong combination of scale, growth and
profitability.
Commercial & Clinical
In Commercial & Clinical the Group provides sales, marketing
& distribution solutions to multinational pharmaceutical and
medical device manufacturers on an outsourced basis. Active in
Ireland, the UK, the Benelux and the Nordics, the Group is growing
with clients to provide pan-European solutions. Uniphar have built
a fully integrated multi-channel solution that is supported by
highly experienced, clinically trained teams to deliver exceptional
outcomes for all clients.
Product Access
In Product Access the Group is growing two distinct service
offerings: 1) "On-Demand Access", which are pharmacy led solutions
for sourcing and supplying unlicensed medicines to meet the needs
of both retail and hospital pharmacists; and 2) "Exclusive Access",
which are manufacturer led solutions for controlling the release of
speciality medicines for specifically approved patient populations
in agreed markets. The Group currently delivers product access
solutions to more than 160 markets globally.
Supply Chain & Retail
Uniphar is an established market leader in Ireland with c50%
supply chain market share supported by a network of 287 owned,
franchised and symbol group pharmacies. The business supports the
diverse customer base through the provision of strong service
levels coupled with innovative commercial initiatives. Supply Chain
& Retail is an Irish only business for the Group, although the
assets and infrastructure are utilised for the benefit of the
growth divisions.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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