Abacus Medicine stays on fast track to growth
An ambitious product strategy paid off in 2017 as revenue rose by 42%
Abacus Medicine recorded its best year ever in 2017 with both revenue and profits setting a new record. This is the clear conclusion from the company’s latest annual results, announced today. Revenue rose to EUR 253,1 million in 2017 against EUR 177.9 million the previous year, corresponding to 42% growth.
“The strong growth in revenue is closely linked to our strategic focus on expanding our product portfolio by investing in new marketing licenses.
To streamline this important process, we have built strong Business Intelligence capabilities that I am very proud of,” said CEO and co-founder, Flemming Wagner.
In 2017, Abacus Medicine obtained more than 800 new marketing licenses and now holds more than 2,500 national in total. The new licenses were obtained across 12 different EU-countries, reflecting that Abacus Medicine pursues a multi-market strategy and supplies medicines in many different countries.
Profitable, organic growth
In yet another year of substantial, organic growth, Abacus Medicine continued to operate with profitability above the industry average. Gross margin remained at 9% and EBITDA margin at 4%. EBITDA rose to EUR 9.4 million in 2017 from EUR 6.6 million the year before. Profits for the year amounted to EUR 4.2 million – the highest ever for the company.
As a consequence of the continuing internationalization of the company the annual report has been converted to the international IFRS standard.
Download the full Abacus Medicine Annual Report 2017
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