Chiltern Announces Strong Financial Performance Of The Group

LONDON and WILMINGTON, North Carolina, June 10, 2013 /PRNewswire/ -- Chiltern International Group Limited (Chiltern), a global contract research organization (CRO), announces a record financial performance for the fiscal year ended Mar 31, 2013.

• Revenues of £104 million, a growth of 16.8% from prior year and a CAGR of 15.3% for 2008-2013
• EBITDA* of £14.9 million, 33% ahead of March 2012 and a CAGR of 19.2% for 2008-2013
• Backlog of £203 million, up from £187 million at the end of March 2012
• New business awards of £150 million representing a gross-book-to-bill of 1.5 and a net-book-to-bill of 1.2
• Chiltern's workforce reached 1,600 people worldwide, which includes further investments in our operations and therapeutic leadership teams

Dr Jim Esinhart, CEO of Chiltern commented: "I am delighted to report that demand for our services is at an all time high. We have delivered over 15% CAGR revenue growth over the last five years which means Chiltern is increasing its market share. We feel customers are actively looking for mid-tier global alternatives with the ability to deliver better value and a comprehensive range of high quality services."

Key to Chiltern's success has been the company culture, built on offering customers flexibility, responsiveness and distinctive innovations coupled with trusted relationships. By attracting the most qualified people in the pharma/biotech/medical device industries, Chiltern has implemented leading resourcing solutions including Functional Service Provision, best-in-class technologies and therapeutically focused clinical research offerings.

"We are proud to say that Chiltern has successfully provided program management and clinical development services for over 30 years, and we see growth continuing as we look ahead. At the same time, it is important that we thank our customers for their support, and credit our dedicated staff for their unwavering focus on quality management and therapeutic and operational expertise," Esinhart added.

Outlook

As we look ahead, we see continued growth for the remainder of the calendar year and beyond. We are confident that our investments in people, in the development of innovative processes and technologies along with our focus in establishing strategic partnerships with our customers have prepared Chiltern for a period of substantial growth and to drive the company forward.

Note

EBITDA* is before exceptional items, minority interest and foreign exchange effects

Company profile

About Chiltern:

Established in 1982, Chiltern is a leading global clinical CRO with extensive experience in the management of Phase I-IV clinical trials across a broad range of therapeutic areas, functional service provision and contract staffing solutions. Chiltern has conducted trials in more than 40 countries, employs more than 1,600 people globally and offers services in Early Phase, Global Clinical Development, Late Phase, Biometrics, Medical and Regulatory Affairs and Resourcing Solutions. Chiltern prides itself as a development partner that offers flexibility, responsiveness and quality delivery. Further information is available at: www.chiltern.com.