Finance

PIEX Group reports strong growth in results for FY2021

PIEX Group reports strong growth in results for FY2021
Wednesday, 03 August 2022 13:35

PIEX Group, one of the leading distributors of health and wellness products on the African continent, has achieved a turnover of 137 million euros in 2021, showing an organic growth of 7% compared to 2020, a year with a record demand due to COVID and the risks of supply chain disruptions. PIEX is one of the most financially solid companies in its sector thanks to a constantly improving level of services and a network of partners who show their confidence in the company every day.

71430 piex

This strong momentum is driven by three factors:

  • The growth of the private market for medicines in West Africa has enabled the development of the medicine’s distribution business, with the share of turnover represented by Para pharmacy (8%) remaining relatively stable compared to last year.
  • PIEX Group's partner laboratories are outperforming the market because they believe in the continent and invest sustainably accordingly, which represents an additional competitive factor (+20% in local sales vs. 2020 for these laboratories, which represent the core of PIEX Group's business).
  • A real flexibility offered to its partners in its core business: the distribution of medicines and Para pharmaceutical products. PIEX is proving to be a reliable and efficient partner for their development in Africa.

Strong assets for development

The managers have been able to lay solid foundations to manage growth. By doubling its logistics capacity with two warehouses in Paris area, PIEX manages now has more than 11,000 m2 for managing stocks and goods flows.

The solidity of the production tools and the digitalisation of the activities have enabled the company to maintain a stable and constantly evolving team to absorb growth while maintaining profitability.

Economic Outlook 2022

With a continuous development in the first half of the year, PIEX aims to achieve a turnover of 150 million euros in 2022.

The alliance established in 2021 with Phillips Pharma Group for distribution in English-speaking East and Central Africa countries will also drive growth, with a target of more than €2 million in sales and 40% growth by the end of June 2022 compared to the same period in 2021. The partner laboratories will thus be able to expand their activity in these new markets.

The service activities for the management of drug applications are managed by Phillips Pharma Group in this alliance, as are the promotional activities in these new areas.

The financial objective of PIEX Group is to continue to develop its business profitably while actively participating in market movements and developing sustainable alliances with quality local/regional players.

Expansion of the PIEX Group's activities

The PIEX Group's plan is to expand its upstream and downstream activities, with external growth projects covering the exploitation of medicines and the development of service activities in the promotion of medicines and Para pharmaceutical products.

Several acquisitions are under consideration, which will allow PIEX Group to strengthen its turnover and profitability, with new companies whose margins on turnover are higher than those of the distribution. This increase in the organic scope of PIEX through selective acquisitions will be done with the objective of further increasing access to quality medicines for as many people as possible. This can only be achieved through solid operational and financial performance, which is the only guarantee of a sustainable business.

Bertrand Talbotier, Chairman of PIEX Group, said: "The excellent financial health of PIEX Group in a very troubled international context underlines the quality of our company's fundamentals. We want to build on these fundamentals to further our mission of ensuring equitable access to health in Africa. This we believe will involve the development of a group that will integrate a distribution businesś for Africa, representing a broad portfolio of manufacturers and health products, including key services such as regulatory affairs, marketing, and medical promotion, but also market access, and the operation of marketing authorisations, all in West, East, Central but also Southern Africa. Backed́ by strong financial partners, PIEX Group is ideally positioned to meet this challenge."

About PIEX Group

PIEX is a distributor of Health and Wellness products, mainly present in Africa. With a catalogue of more than 2,000 products, PIEX maintains a privileged link between upstream manufacturers and downstream players in the supply chain: pharmacies, hospitals, wholesalers. PIEX is a totally independent company devoted to its customers, suppliers and shareholders, whose interests it serves solely.

With an integrated offer (market analysis, registration, distribution, promotion, regulatory monitoring), PIEX offers a One-Stop-Shop solution to the African Health and Wellness market. PIEX is part of a larger project to develop an "international group focused on Africa" aiming to bring quality health and wellness products and services to the greatest number of people at an affordable cost.

71430 1piex

On the same topic
Côte d’Ivoire will receive $234 million for a sustainable urban mobility project in Abidjan. Gambia will receive $32.2 million to build...
Stanbic IBTC and Zenith Bank cut monthly card spending abroad to $500 and $200 Foreign reserves fall by $3.5 billion in six...
Cauri Money launches Gajo Money, an e-wallet for the Cameroonian diaspora, targeting €120 million in transactions by end-2025. The fintech...
• Kenya and ASR sign deal to reduce risk on projects worth up to $2 billion.• Risk cover will target infrastructure, energy, logistics, and trade...
Most Read
01

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
02

• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...

Nigeria Secures $100 mln ECOWAS Bank Loan for Lagos-Calabar Coastal Highway
03

• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...

Algeria Awards Commercial 5G Licenses
04

• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...

IFC Plans Investment Fund to Help Grow African Film Industry
05

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.