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 se place parmi les sociétés les plus solides financièrement de son secteur grâce à un niveau de services en progression constante et un réseau de partenaires qui lui témoignent tous les jours leur confiance.
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 medicines 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 parapharmaceutical products. PIEX is 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 the Paris region, PIEX now has more than 11,000 m2 for managing stocks and goods flows.
The solidity of the production tools and the digitalization of the activities have enabled the company to maintain a stable and constantly evolving team to absorb growth while maintaining profitability.
ECONOMIC OUTLOOK FOR 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 partnership established in 2021 with Phillips Pharma Group for distribution in English-speaking East and Central Africa will also drive growth, with a target of more than 2 million of euros 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.
THE EXTENSION OF PIEX’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 enable the PIEX Group to strengthen its turnover and profitability, with new companies whose margins on turnover are higher than those of the distribution sector. 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 the greatest number. This objective can only be achieved through solid operational and financial performance, the only guarantee of a sustainable business.
Chairman of PIEX Group
Bertrand Talbotier, Chairman of PIEX Group, said:
“PIEX Group’s excellent financial health in a troubled international context underlines the quality of our company’s fundamentals. We want to build on these fundamentals to further our mission of guaranteeing equitable access to healthcare in Africa. In our view, this will involve the development of a group that will integrate a distribution activity for Africa, representing a broad portfolio of manufacturers and healthcare products, including essential services such as regulatory affairs, marketing and medical promotion, but also market access and the operation of marketing authorizations, all in West, East and Central Africa, as well as in Southern Africa. Backed by solid 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 at the service of 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.
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