FIS APPROVES FINANCIAL STATEMENTS FOR 2024
THE LEADING GROUP IN THE PRODUCTION OF APIs FOR THE PHARMACEUTICAL INDUSTRY REPORTS GROWTH IN KEY ECONOMIC AND FINANCIAL RATIOS
REVENUES AT €812 MILLION, UP 9% COMPARED TO THE PREVIOUS YEAR; EBITDA MARGIN ADJUSTED IMPROVED TO 19% OF REVENUES AND REPORTED EBITDA UP BY 56%
FURTHER DEVELOPMENT OF ALL CUSTOM AND GENERIC PRODUCT SEGMENTS AND R&D SERVICES
Montecchio Maggiore (Vicenza, Italy), May 7th 2025 – The Shareholders’ Meeting of FIS, Italy’s leader and one of the top companies in the world in the production of APIs (Active Pharmaceutical Ingredients) for the pharmaceutical industry, approved its 2024 Financial Statements. With over 2,300 employees, of whom approximately 250 are working in R&D, FIS operates worldwide through offices in North America and Japan, and operating sites in China and India.
FIS closed FY 2024 with €812 million in consolidated revenues (934M$), up +9% compared to €744 million for 2023, and a client portfolio covering 60 countries. All Custom (exclusive patented products) and Established (generics or exclusive products no longer covered by patents) businesses further developed, with significant growth in terms of both turnover and EBITDA.
“The very positive results achieved in 2024 confirmed the strength of the FIS offer and the trust our customers place in us,” stated Daniele Piergentili, Chairman and Chief Executive Officer of the Company. “In 2024 FIS continued to increase its top line, thanks to a significant expansion of the portfolio of new molecules for the Custom business. The Pharma CDMO (Contract Development and Manufacturing Organization) market is a significant sector at European level, with an annual growth rate of approximately 4% in the Small Molecules segment. Despite a challenging macro-economic context, FIS overperformed the market, growing by 9% YoY thanks to its positioning in high-growth therapeutic areas with new important projects in the pipeline for 2025.”
As far as segments’ performance, the Custom businessperformed particularly well (+19%), whereas the Established portfolio, although not growing in sales, has increased its absolute and relative profitability.
“The economic and financial results we achieved in 2024 confirm the solidity of FIS, which is focused on several performance improvement initiatives such as for example the optimization of our procurement spend, in addition to developing its projects’ portfolio,” highlighted Manuel Barreca, Chief Financial Officer of FIS. “All these factors led to a steady increase in margins, with growth in EBITDA Margin Adjusted to 19% of revenues. Current net financial indebtedness was positively influenced by a favorable cash and cash equivalents position at year-end, amounting to approximately €158 million, which allowed the Company to allocate about €60 million to investments and increase its cash and cash equivalents, in addition to generating a positive effect on working capital.”
In 2024, as an integral part of the overall transformation plan steered by the new Chief Executive Officer, Daniele Piergentili, the FIS R&D function was further strengthened by the recruitment of new professionals (10% increase in staff compared to 2023). The plan aims to increase knowledge and knowhow in core technologies requested by the pharma market, such as spray drying, in addition to further reinforcing the team supporting the various development phases of new drugs.
In line with the 2024-2028 Strategic Plan, initiatives which started with the acquisition of the Company by Bain Capital in December 2023 were further consolidated in 2024, in addition to launching new transformation projects, aimed at increasing the Company's economic and financial performance.
The new products in the FIS pipeline are supporting the pharma sector’s latest innovations in cardiovascular/metabolic, oncological, and nervous system therapies, for which FIS has well-established expertise.
The significant investment in human capital underpinned by the 2024-25 recruitment plan in different functional areas, continues to be an essential element to continue the growth and transformation journey started in 2024.
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