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Chiesi Group mid-year financial results demonstrate strong growth for 2023

Date: 03/08/2023
<li>Chiesi Group announces mid-year turnover of &euro;1,497 million;</li>
<li>Substantial growth of each of Chiesi&rsquo;s business areas;</li>
<li>Europe remains the biggest market, followed by the US and China;</li>
<li>Forecasted revenues of about &euro;3 billion for 2023, with an additional solid growth expected in 2024.</li>
<p><strong>Parma (Italy), 3 August 2023 &ndash; </strong>Chiesi Group is continuing to enjoy major growth this year. The Group&rsquo;s 2023 sales for the first half of the year are at &euro;1,497 million, representing growth of 12% compared with 2022. EBITDA-on-sales ratio confirms to be above 30% in 2022.</p>
<p>Each of Chiesi&rsquo;s individual business areas, AIR (respiratory health), RARE (rare and ultra-rare diseases) and CARE (special care and consumer healthcare) grew substantially in the first half of 2023. AIR revenue remained the largest stream at &euro;1,047 million, increasing by 6.5% from 2022. RARE revenue of &euro;227 million grew by 38.6% in first half 2023, largely due to inorganic growth as a result of the acquisition of Amryt Pharma Plc. CARE revenue, currently at &euro;223 million, also grew by 19.6%.</p>
<p>Chiesi&rsquo;s consistent growth underscores its commitment to bring its medicines and care to as many patients as possible around the world.&nbsp;Europe remains Chiesi&rsquo;s biggest market (&euro;954 million, 63.7% of total revenue), followed by the US (&euro;234.5 million, 15.6%) and China (&euro;53.8 million, 3.6%).</p>
<p><strong>Giuseppe Accogli</strong>, CEO of Chiesi Group, commented: &ldquo;<em>I am proud of the </em><em>Group&rsquo;s continuous global progress and the steps towards the diversification of our portfolio, with recent acquisitions and continued investment in research and development. These outstanding achievements are a clear testimony of the values of our Company and our passionate focus on people, patients and the planet.</em>&rdquo;&nbsp;</p>
<p>These positive results assist in the Group&rsquo;s commitment to advancing the economic and social conditions in the communities where Chiesi operates,&nbsp;while generating value for shareholders. To stay true to this commitment, as a Benefit Corporation and a certified B Corp, Chiesi holds itself accountable to the highest science and evidence-based standards of sustainable and ethical behaviour.</p>
<p><strong>Future outlook&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </strong></p>
<p>Despite economic and geopolitical challenges, Chiesi&rsquo;s performance remains very strong. In 2023, the Group anticipates revenues of about &euro;3 billion with projected further growth in 2024. Solid profitability, with substantial cash generation, gives Chiesi the opportunity for future inorganic growth.</p>
<p><strong>About Chiesi Group</strong></p>
<p><em>Chiesi is an international, research-focused biopharmaceuticals group that develops and markets innovative therapeutic solutions in respiratory health, rare diseases, and specialty care. </em><em>The company&rsquo;s</em><em> mission is to improve people&rsquo;s quality of life and act responsibly towards both the community and the environment. </em></p>
<p><em>By changing its legal status to a Benefit Corporation in Italy, the US, and France, Chiesi&rsquo;s commitment to create shared value for society as a whole is legally binding and central to company-wide decision-making.&nbsp;As a certified B Corp since 2019, we&rsquo;re part of a global community of businesses that meet high standards of social and environmental impact. The company aims to reach Net-Zero greenhouse gases (GHG) emissions by 2035.</em></p>
<p><em>With over 85 years of experience, Chiesi is headquartered in Parma (Italy), operates in 31 countries, and counts more than 6,500 employees. The Group&rsquo;s research and development centre in Parma works alongside 6 other important R&amp;D hubs in France, the US, Canada, China, the UK, and Sweden.</em></p>
<p><strong>Contacts for media:</strong></p>
<p><strong>Alessio Pappagallo</strong></p>
<p><em>Press Office Manager</em></p>
<p>Tel: &nbsp;&nbsp; +39 339 5897483</p>
<p>Email &nbsp; <a href="mailto:a.pappagallo@chiesi.com">a.pappagallo@chiesi.com</a> &nbsp;</p>