PharmaNutra’s growth one year from listing on the Stock Exchange

Double-digit growth, appreciation in the share value and a significant market cap increase: just 12 months since its listing, the Pharmanutra Group records a marked upswing on the market and prepares for new challenges

PharmaNutra SPA today celebrates the first anniversary of its listing on the Stock Exchange, which had taken place precisely on 18 July 2017. An intense year, during which the market showed considerable interest and appreciation for the Company founded in 2003 by brothers Andrea and Roberto Lacorte, current Chairman and Vice Chairman of the Group respectively.

 
The numbers reflect this clear trend in consistent growth: the value of the PharmaNutra stock went from Euro 10 on the listing day to Euro 15.05 on 17 July 2018*, whereas corporate capitalisation increased by over 48%, going from Euro 89 million to 145.7 million at 17 July 2018**. Turnover during the last 12 months recorded significant double-digit growth (+15.3% on 2016), both in terms of the Italian and international market, reflecting the Group’s ongoing business development. If we focus on the period from January – May 2018, compared to the same time frame in 2017, sales in Italy went up by 20%, whereas the increase at international level reached 48%.

 
These results were primarily underpinned by three basic drivers growing the development of PharmaNutra’s business: the development of innovative technologies, combined with the launch of new products, the strengthening of the sales network in Italy and the Group’s internationalisation. A challenge that PharmaNutra is ready to face with passion and enthusiasm, whilst maintaining its distinctive identity, founded on clear and shared values.

 
The Chairman of Pharmanutra, Andrea Lacorte, commented: “The balance for these 12 months on the Stock Exchange has been very positive: the stock’s performance from the start of the year to date has shown an increase that is far superior to the FTSE AIM and FTSE MIB indices, confirming the market’s appreciation for what has been achieved thus far. Looking to the future, our foundations are more than solid to continue growing: we have various projects underway and certain research that is already showing signs of promise, as well as ideas that are ready to be implemented. We are the first to invest in PharmaNutra, so we are well aware of investors’ expectations, and trust that the markets will continue to appreciate our efforts”.

 
“PharmaNutra has adapted perfectly to the procedures governing listed companies, and now thanks to its listing, PharmaNutra is more solid, structured and able to continue on this growth path shared with the market. The attractiveness of the PharmaNutra stock is also demonstrated and confirmed by the entry of new international investors”, explains Roberto Lacorte, Group Vice Chairman. “The obligations and rules introduced with the listing are nothing revolutionary for us” – adds Roberto Lacorte – “because it is part of our DNA to base growth on sharing the most important strategic decisions – look at our Board that extends to include other parties – and by extending participation in our capital to the people we consider fundamental for the Group’s growth. This is the natural evolution of an approach that is already integral to the Company”.

 
Carlo Volpi, Managing Director of PharmaNutra, underlines how the “listing has represented an accelerator for the Company’s evolution. One of the objectives that we had set before the listing on the Stock Exchange was to be able to add to the internal growth of the business an external growth. Just one year later, we are definitely on the right path because the greater visibility that we have achieved internationally, will allow us not only to remain more attractive in respect of new investors, but also to enter new markets”.

*This figure was obtained by comparing the subscription price for convertible bonds issued by the prebooking company Ipo Challenger 1, for Euro 10, with the closing figure for the stock at 17 July 2018.
** The figure for Pharmanutra’s capitalisation is updated as of 4 July 2018 (source: Borsa Italiana).