# Advanced Medical Solutions Group driving future strong topline growth and greater profitability - Link: https://www.directorstalkinterviews.com/advanced-medical-solutions-group-driving-future-strong-topline-growth-and-greater-profitability/4121188805 - Published: 2025-03-19T07:19:48+00:00 - Author: Amilia Stone **Advanced Medical Solutions Group plc **(LON:AMS), a world-leading specialist in tissue-healing technologies, has announced its unaudited preliminary results for the year ended 31 December 2024.  **Financial Summary:** | ** ** | **2024** | 2023 | Reported change | Change at constant currency¹ | Growth excluding acquisitions^(5) | | Revenue (£ million) | **177.5** | 126.2 | +41% | +43% | +10% | | **Adjusted Measures** | ** ** | | | | | | Adjusted² EBITDA (£ million) | **40.2** | 29.7 | +35% | | | | Adjusted² EBITDA margin | **22.6%** | 23.5% | -0.9pp | | | | Adjusted² profit before tax (£ million) | **29.4** | 25.9 | +14% | | | | Adjusted² profit before tax margin | **16.6%** | 20.5% | -3.9pp | | | | Adjusted**^(3)** diluted earnings per share (p) | **10.45** | 9.05 | +16% | | | | | ** ** | | | | | | **Reported Measures** | ** ** | | | | | | Profit before tax (£ million) | **9.8** | 21.2 | -54% | | | | Profit before tax margin | **5.5%** | 16.8% | -11.2pp | | | | Diluted earnings per share (p) | **3.25** | 7.25 | -55% | | | | Net operating cash flow (£ million) | **19.5** | 12.3 | +58% | | | | Net (debt)/cash^(4) (£ million) | **(55.8)** | 60.2 | -193% | | | | | ** ** | | | | | | Proposed full year dividend per share (p) | **2.60** | 2.36 | +10% | | | **Business Highlights (including post Period end):** Advanced Medical Solutions Group is pleased to report Full Year 2024 results in line with consensus forecasts and excellent progress in integrating the recent acquisitions of Peters Surgical and Syntacoll.   **Operational** ·      Successful implementation of the new route to market strategy in late 2023 has resulted in strong growth from US LiquiBand^(®) throughout 2024.   ·      Transformational acquisition of Peters Surgical SAS (“Peters Surgical”) at an enterprise value of €132.5 million (£113 million) was completed on 1 July 2024. The acquisition added £37.2 million of revenue from the July acquisition date. ·      Acquisition of Syntacoll GmbH (“Syntacoll”) for €1 million on 1 March 2024, a specialist manufacturer of drug-eluting collagens has significantly strengthened the capacity and capability of the Group’s existing Biosurgical business. The acquisition added £5.6 million of revenue from the March acquisition date. ·      The full in-market launch of LIQUIFIX^(TM), the first atraumatic hernia fixation device in the US, resulted in better-than-expected initial orders. On the back of major Group Purchasing Organisation (“GPO”) approvals, accelerated in-market growth is expected in 2025 and record monthly end user sales were recorded in January and February 2025. **Financial** ·      Group revenue increased by 43% at constant currency to £177.5 million (2023: £126.2 million), driven by strong growth in US LiquiBand^(®), other key surgical product categories and the acquisitions of Peters Surgical and Syntacoll. Excluding both acquisitions, group revenue increased by 10% at constant currency. ·      Adjusted profit before tax increased by 14% to £29.4 million (2023: £25.9 million) and reported profit before tax decreased by 54% to £9.8 million (2023: £21.2 million) as a result of acquisition and integration costs. ·      Net debt at 31 December 2024 stood at £55.8 million (2023: Net cash of £60.2 million) following the acquisition of Peters Surgical. ·      Investment in R&D increased to £12.9 million (2023: £12.6 million), representing 7% of revenues (2023: 10%). Whilst the gross investment in R&D has increased following the addition of Peters Surgical, R&D expenditure as a proportion of revenue has been diluted by the acquisition and by reduced Medical Device Regulation (“MDR”) related investment.   ·      Surgical Business Unit revenues (excluding Peters Surgical) increased to £98.6 million (2023: £79.1 million), an increase of 28% at constant currency, driven by strong performances from all key product categories. ·      Woundcare Business Unit revenues decreased to £41.8 million (2023: £47.1 million), a decrease of 11% at reported and constant currency due to a number of factors. Strategic initiatives within the Woundcare business are being successfully implemented, which are expected to positively impact margins in 2025.  ·      Reflecting management’s ongoing confidence in the Group’s outlook, the Board proposes an increased final dividend of 1.83p per share (2023: 1.66p) bringing the total proposed dividend to 2.60p per share (2023: 2.36p). > **Commenting on the results Chris Meredith, Chief Executive Officer of Advanced > Medical Solutions Group, said:** “I am very pleased to report such a strong set > of results during a year where AMS went through such a significant transformation. > The integration of both Peters Surgical and Syntacoll has established the Group > as a larger, more diverse tissue-healing specialist with a broader geographic > reach. 2025 has started well and we remain confident that the strong, underlying > momentum of our core business, combined with the broader portfolio, synergies > and benefits from the acquisitions, will drive future strong topline growth and > greater profitability.” **_Notes_** _1.     Constant currency removes the effect of currency movements by re-translating the current year’s performance at the previous year’s exchange rates_ _2.     Reconciled in the Financial Review_ _3.     Reconciled in note 6 of the financial information_ 4.     _Net debt consists of cash and cash equivalents of £17.0 million and £72.8 million of borrowings, excluding the impact of IFRS16 as reconciled in note 7 of the financial information. (2023: £60.2 million of cash and £nil debt)_ _5.     Growth excluding acquisitions excludes the impact of acquisitions in the year on a constant currency basis_ Share on: