F.I.S. – FABBRICA ITALIANA SINTETICI: IN 2021 REVENUES INCREASED BY 14% AT €562 MILLION WITH AN EBITDA PROFORMA ADJUSTED UP BY 12%
THE GROWTH TREND CONTINUED IN THE FIRST QUARTER OF 2022 CLOSED WITH REVENUES OF APPROXIMATELY €117 MILLION, UP BY 12% COMPARED TO THE FIRST QUARTER OF 2021
Montecchio Maggiore (VI), 25 June 2022 – The Shareholders’ meeting of F.I.S. – Fabbrica Italiana Sintetici S.p.A., the leading developer and manufacturer of active GMP intermediates and APIs for the pharmaceutical industry in Italy and among the main players in Europe, has approved the FYI 2021 financial statements.
The financial results achieved in 2021 show a general improvement of all the main economic indicators compared to 2020, with revenue and margin growth, driven by the excellent performance of Custom (+23%) and of active GMP intermediates and APIs for the animal health (+74%) business lines. In 2021, there was also an increase in the value of investments aimed at enhancing the production of intermediates and active ingredients which are now at risk of discontinuity due to disruptions in the supply chain, through a reshoring process that will involve the FIS Lonigo plant. Due to the need to effectively manage the business development projects included in the Strategic Plan approved at the end of 2021, the number of employees grew to reach the new level of 1920, with an additional 65 new hires already recorded in the first quarter of 2022.
Highlights from the 2021 figures:
- €562 million consolidated revenue, up by 14% from €491.6 million recorded in 2020. 72% of the revenue was recorded in Europe (of which 10% in Italy), 15% in North America, 12% in Asia and 1% in South America and Africa;
- sales of Custom products grew by 23% and active GMP intermediates and APIs for the animal health by 74%. Research & Development services grew by 23%;
- € 88.45 million Adjusted EBITDA, up by 12% from € 79 million in 2020;
- the net financial position increased from €216.3 million in 2020 to €236.9 million in 2021;
- investment in 2021 amounted to €48.9 million, up by 28.7% in comparison to €38 million in 2020;
- the number of employees increased by 4% to 1920.
Despite the difficult macroeconomic scenario facing FIS in 2022, with energy costs increased by 14% in the first quarter of the year, F.I.S. continued its growth in the first quarter of 2022. Revenues amounted to approximately €117 million, up by 12% in comparison to the same period last year.