Annual report 2023

medmix Annual report 2023

medmix Drug Delivery: SicuroJect™

Our key figures

Our key figures

Our revenue increased by 2.0% (1.1% organically). We delivered profitability of 19.1% adjusted EBITDA margin and a free cash flow of CHF 3.4 million.

Share of revenue by market segment

2023

Share of revenue by market segment

2022

Key figures

millions of CHF

 

2023

 

% of revenue

 

+/–% change

 

2022

 

% of revenue

Revenue

 

486.6

 

100.0%

 

2.0%

 

477.1

 

100.0%

Organic revenue growth 1)

 

 

 

 

 

1.1%

 

 

 

 

Gross profit

 

157.6

 

32.4%

 

–10.1%

 

175.4

 

36.8%

Operating income (EBIT)

 

16.0

 

3.3%

 

–18.5%

 

19.6

 

4.1%

EBITDA

 

74.4

 

15.3%

 

5.2%

 

70.7

 

14.8%

Adjusted EBITDA

 

93.1

 

19.1%

 

–11.7%

 

105.4

 

22.1%

Net income attributable to shareholders of medmix Ltd

 

0.3

 

0.1%

 

–97.5%

 

11.6

 

2.4%

Adjusted net income

 

36.9

 

7.6%

 

–37.2%

 

58.7

 

12.3%

Adjusted diluted earnings per share, attributable to a shareholder of medmix Ltd (in CHF)

 

0.90

 

 

 

–37.3%

 

1.43

 

 

Free cash flow (FCF)

 

3.4

 

 

 

–67.5%

 

10.3

 

 

Adjusted operating net cash flow (adjusted ONCF)

 

40.8

 

 

 

9.3%

 

37.3

 

 

Capital expenditure, net (capex, net)

 

66.3

 

 

 

77.6%

 

37.3

 

 

Net debt as of December 31

 

219.0

 

 

 

39.8%

 

156.7

 

 

Net debt adjusted EBITDA ratio as of December 31

 

2.35

 

 

 

58.2%

 

1.49

 

 

Employees (number of full-time equivalents) as of December 31

 

2’658

 

 

 

28.6%

 

2’067

 

 

1) Adjusted for acquisition and currency effects.

Our KEY Figures

486.6 m CHF

revenue in 2023

19.1 %

adjusted EBITDA margin

3.4 m CHF

free cash flow generated in 2023

Financial Review Section

Stock market information

 

 

2023

 

2022

 

 

 

Registered share (in CHF)

 

 

 

 

 

 

 

– high

 

26.38

 

47.00

 

 

 

– low

 

16.45

 

15.70

 

 

 

– year-end

 

19.00

 

17.60

 

 

 

 

 

 

 

 

 

 

 

Market capitalization as of December 31

 

 

 

 

 

 

 

– number of shares issued

 

41’262’370

 

41’262’370

 

 

 

– in millions of CHF

 

784

 

726

 

 

 

– in percentage of equity

 

168%

 

144%

 

 

 

 

 

 

 

 

 

 

 

P/E ratio as of December 31

 

2’674.3x

 

62.4x

 

 

 

Dividend yield as of December 31

 

2.6%

 

2.8%

 

 

 

Data per share

CHF

 

2023

 

2022

 

 

 

Net income attributable to a shareholder of medmix Ltd

 

0.01

 

0.28

 

 

 

Equity attributable to a shareholder of medmix Ltd

 

11.30

 

12.20

 

 

 

Ordinary dividend

 

0.50 1)

 

0.50

 

 

 

Payout ratio

 

7’038%

 

177%

 

 

 

Average number of shares outstanding

 

40’868’426

 

40’957’744

 

 

 

1) Proposal to the Annual General Meeting.

Shareholder structure as per December 31, 2023

Number of shares

 

Number of shareholders

 

Shareholding

1–100

 

2’883

 

0.4%

101–1’000

 

4’187

 

3.9%

1’001–10’000

 

783

 

5.1%

10’001–100’000

 

92

 

6.2%

More than 100’000

 

22

 

52.6%

Total registered shareholders and shares (excluding treasury shares medmix Ltd)

 

7’967

 

68.2%

Shareholder structure as per December 31, 2022

Number of shares

 

Number of shareholders

 

Shareholding

1–100

 

3’127

 

0.4%

101–1’000

 

4’677

 

4.2%

1’001–10’000

 

743

 

4.9%

10’001–100’000

 

91

 

5.8%

More than 100’000

 

23

 

55.1%

Total registered shareholders and shares (excluding treasury shares medmix Ltd)

 

8’661

 

70.4%

Global reach, local presence