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Guildford, UK – 25 September 2019: Ergomed plc, (LSE: ERGO) (‘Ergomed’ or the ‘Company’), a company focused on providing specialised services to the global pharmaceutical industry, announces its unaudited interim results for the six months ended 30 June 2019.
|Unaudited||First Half 2019||First Half 2018||% change|
|Figures in £ millions, unless otherwise stated|
|Gross Margin (%)||41.2%||34.9%||–|
|EBITDA (adjusted) (Note 2)||6.5||(0.0)||–|
|Cash at 30 June||8.1||7.4||+9.7|
|Backlog at 30 June||118.3||93.2||+26.9|
|Basic earnings per share (pence)||7.8p||(5.7)p||–|
(1) First half 2018 originally reported under IAS 18 has been restated following the adoption of IFRS15 for the 2018 full year results.
(2) EBITDA (adjusted) is defined as profit before tax for the period plus finance costs, depreciation and amortization, share-based payment charge, acquisition related contingent consideration, change in fair value of contingent consideration, acquisition costs and exceptional items (Note 10 to the financial statements).
Dr Miroslav Reljanović, Executive Chairman of Ergomed, said:
“During the first half of 2019 Ergomed has taken further significant steps to fully focus on its services business model, execute its strategy to become a leading specialised CRO services business, and fulfil its future growth potential.
“We have strengthened the executive team and Board and further developed our differentiated offering in the clinical services marketplace both through the integration of previous acquisitions and through commercial integration. With an improved financial performance over the first half of 2019 and a strong backlog and H1 sales, Ergomed is now positioned for success through continued growth.”
Key Financial Highlights
Operational Highlights (including post-period end)
Strengthening of the executive team and Board changes:
Meeting and conference call for analysts:
A briefing for analysts will be held at 11am BST on 25 September 2019 at the offices of Numis Securities Limited, 10 Paternoster Square, London, EC4M 7LT. Photo ID will be required for entry. There will be a simultaneous live conference call with Q&A.
Conference call details:
|Ergomed plc||Tel: +44 (0) 1483 402 975|
|Miroslav Reljanović (Executive Chairman)|
|Richard Barfield (Chief Financial Officer)|
|Numis Securities Limited||Tel: +44 (0) 20 7260 1000|
|Freddie Barnfield / Huw Jeremy (Nominated Adviser)|
|James Black (Broker)|
|Consilium Strategic Communications – for UK enquiries||Tel: +44 (0) 20 3709 5700|
|Chris Gardner / Sue Stuartemail@example.com|
|Matthew Neal / Olivia Manser|
|MC Services – for Continental European enquiries||Tel: +49 211 5292 5222|
Please find the rest of the interim results on Investors – Reports and Presentations page.
About Ergomed plc
Ergomed provides specialist services to the pharmaceutical industry spanning all phases of clinical trials, post-approval pharmacovigilance and medical information. Ergomed’s fast-growing, profitable services business includes a full range of high-quality contract research and clinical trial management (CRO) services under the Ergomed brand together with an industry-leading suite of specialist pharmacovigilance (PV) solutions, integrated under the PrimeVigilance brand, and an internationally recognized specialist expertise in orphan drug development, under the PSR brand. For further information, visit: https://ergomedplc.com.