Financial performance in 2018: pfm medical continues growth trend from previous year
pfm medical closed the 2018 fiscal year with turnover growth of 4.9%. Total turnover last year increased to EUR 109.9 million from the EUR 104.8 million generated in 2017. The operating result (EBIT) increased to EUR 2.9 million, 37.5% higher than the previous year (EUR 2.1 million). With investments, primarily in production and technology at the biggest production facility in the German state of Saarland, pfm medical continues to drive the Group’s sustainable development.
The turnover of EUR 109.9 million in the period from 01.01.2018 to 31.12.2018 was around 4.9% higher than in 2017. Turnover increased not only on the domestic market (+3.1% compared to previous year) but also abroad (+7.2% compared to previous year). In particular on the key market, China, there was a sharp increase of +68% in turnover.
The company’s key medical segments, surgery and infusion, remained the main drivers of growth with the highest growth rates. The increases were due in particular to positive developments in product groups like titanised mesh implants for breast reconstruction surgery, implantable port catheters, the ASEPT® outpatient pleural drainage system and APL infusion sets for patients at home. The mesh implants segment alone grew by a further 27%. These growth rates also ensure a constant rise in utilisation of the group’s internal production capacities at the Nonnweiler and Nuremberg locations.
While turnover fell short of the target by EUR 4.3 million, this was above all due to currency effects, in particular due to significant depreciation of the Argentinian peso. However, the overall currency effects in net income, and above all in the margin, offset one another, and the currency effect improved slightly compared with the previous year. The profit (EBIT) was increased considerably from EUR 2.1 million to EUR 2.9 million.
Setting the course for a successful future
With investments in continuous improvement of the IT infrastructure, expansion of regulatory affairs and quality management and moving the warehouse from the headquarters in Cologne to a larger facility in a nearby industrial estate, the Group has future-proofed itself for further growth.
Committed to a better quality of life
- The results of the long-term investigation with TiLOOP® Total 6 were published internationally in 2018.1 The result of the study, which followed almost 300 patients for 36 months, shows that the quality of life of patients with a cystocele (dropped bladder) due to genital prolapse improves significantly after an operation to insert a TiLOOP® Total 6 titanised 6-arm mesh implant.
- The results of the prospective study of 52 patients using TiLOOP® PRO A to treat an anterior prolapse were published during several medical congresses last year. The results indicate an improved quality of life reconstruction, a low relapse rate and no demonstrable erosion.
- pfm medical successfully launched a series of disposable infusion pumps in 2018, adding more patient-friendly and user-friendly product solutions to its range of outpatient infusion therapies. The disposable infusion pumps are designed for patients who need to administer drugs intravenously, percutaneously, subcutaneously, intraoperatively or epidurally. Key features include simple handling and great convenience for patients.
- In the current fiscal year, amongst other things, the company plans to expand its sterilisation capacities at the Nonnweiler location. pfm medical operates one of the most state-of-the-art and environmentally-friendly ethylene oxide sterilisation plants in Europe there. With this largest individual investment in company history to date, pfm medical is laying the foundations for further independent growth.
1. Fünfgeld, C., Stehle, M., Henne, B., Kaufhold, J., Watermann, D., Grebe, M., Mengel, M.: Quality of life and pelvic organ prolapse-related symptoms after pelvic floor reconstruction with a titanized polypropylene mesh for cystocele: long-term results in a 36 month follow-up. Pelviperineology, 2018. 37(4): p. 105-109.
About the company:
pfm medical is one of the leading German providers of special solutions in the healthcare sector. The Cologne-based family company was founded in 1971, and has nearly 570 employees at twelve international locations. In 2018, pfm medical generated an EBIT (earnings before interest and taxes) of EUR 2.9 million with a turnover of EUR 109.9 million.
The medical product provider holds 320 granted property rights in over 85 patent families worldwide and markets a diverse portfolio comprising nearly 3,000 products in over 100 markets.
Its products span the following four medical focus fields: Surgery (e.g. drainage systems and titanised mesh implants), infusion (e.g. mobile electronic infusion pumps and implantable port catheters), histotechnology (e.g. blades and laboratory equipment) and cardiovascular technology (e.g. interventionally implantable occlusion devices for congenital heart diseases and special catheters).
pfm medical combines products and services to a comprehensive package of solutions. For instance, the company provides training and advice to users such as medical practitioners, nursing staff, patients and their families to support optimal therapy outcomes in both inpatient and outpatient healthcare. When developing innovative solutions in close cooperation with leading medical practitioners and specialist partners, pfm medical invariably focuses on improving the quality of life of both users and patients.
pfm medical ag
Tel.: +49 (0)2236 9641-374