Swift execution of ‘Back to Basics’ strategic plan leading to successful portfolio reshaping
• All business units contributing to the strong performance
• 20% EBITDA growth driven by focus on attractive projects and cost control policy
Lyon Gerland, France, April 21, 2015 - Novasep, a leading supplier of manufacturing solutions to Life Science industries, announces its audited consolidated results for the period ended December 31, 2014.
Over the course of the year, the company continued to successfully implement its ‘Back to Basics’ strategy, including several key moves:
• Divestment of Pharmachem leading to a €30m positive cash flow impact and removing a non-core business from the group
• Completion of €28m Omega 3 unique purification facility on time and on budget
• Customer focused sales reorganization
• Creation of new management center in Lyon Gerland, a thriving area for biotech industries
This strategy is bearing fruit and has led to solid financial achievements this year:
• Close to €250m sales achieved by current Group companies with all divisions focusing on attractive projects and products
• Pro-forma (excluding Pharmachem) EBITDA representing 11% sales margin (vs 8.5% last year) thanks to a successful cost control policy
Commenting on these results, Michel Spagnol, chairman and CEO of Novasep stated: ”Looking back on 2014, it has been a pivotal year for Novasep. It was the first full year of the implementation of our strategic plan and we have clearly seen its relevance and benefits. I am very proud to present operating and financial results significantly exceeding our guidance for the year. The positive market context and increased financial resources available to us since the sale of Pharmachem will contribute to our sales momentum in 2015. We are confident that we will be able to continue this very positive trend during the coming year.”
Looking ahead, prospects for 2015
In 2015, the Group will continue to deploy its ‘Back to Basics’ strategy focusing on the four pillars of its strategy: geographical development, market expansion, technology and service.
The Group continues to show a strong commercial dynamism. Among other projects, Novasep signed a five-year development and production contract on March 20, 2015 with the US biopharmaceutical company Celladon. This significantly strengthens its Biopharma Business Unit’s order book for the next five years. It demonstrates the validity of Novasep’s flexible business model, centered on developing customer-focused and differentiated manufacturing solutions, leveraging its unique engineering and production capabilities.
About Novasep
Novasep is a global provider of cost-effective and sustainable manufacturing solutions for life sciences molecules and fine chemicals. Novasep’s unique offering includes process development services, purification equipment and turnkey processes, contract manufacturing services and complex active molecules to serve pharmaceutical, biopharmaceutical, fine chemical, food and functional ingredients as well as fermentation and chemical commodities industries. http://www.novasep.com
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