Faes Farma (FAE) Q4 2024 earnings summary

Executive summary

• Revenue grew between 7.8% and 9% in 2024, reaching up to €510M, driven by strong Pharma and international performance, with net profit rising 21% to €111.4M.

• Solid cash generation achieved after major industrial investments; supplementary dividend proposed, totaling a 50% pay-out.

• R&D milestones include calcifediol approvals in Europe, Australia, and Switzerland, positive mesalazine trial results, and new product innovation projects.

• ESG progress includes expanded risk assessment, new CEO appointment, and creation of a Global Executive Team.

Financial highlights

• Total income reached up to €510M (+7.8% to 9% year-over-year); EBITDA €128.9M (+5.5%); EBIT €107.1M (+4.2%).

• Net profit rose to €111.4M (+21.2%), with adjusted net profit at €94.6M (+2.9%).

• International income grew 10.5% to €291M; international sales accounted for over 54% of revenue.

• Cash at year-end was €64.2M, up from €34.6M, after €51.7M used in financing and €34.8M in investments.

• Basic EPS: €0.36, up from €0.30 year-over-year.

Outlook and guidance

• 2024 results landed at the high end of guidance for both sales (+7.8%) and EBITDA (+5.5%).

• Continued focus on international expansion, innovation, and operational efficiency.