3rd quarter 2023/24: PHOENIX group remains on growth path

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  • Increase in total operating performance and revenue
  • Significant contribution made by the former McKesson Europe companies
  • Profit before tax above previous year’s level

In the first nine months of fiscal year 2023/24 (31 October 2023), the PHOENIX group successfully strengthened its market position in Europe. Compared with the first three quarters of fiscal year 2022/23, total operating performance increased by 34.2 per cent to €42.6 billion. Total operating performance, which comprises revenue and handling for service charge, is the key figure relevant to pharmaceutical wholesale. The PHOENIX group, which operates in 29 European countries, achieved an increase in revenue of €10.6 billion (43.1 per cent) to €35.0 billion. €9.2 billion of this is attributable to the former McKesson Europe companies acquired on 31 October 2022. Their financial contributions have been fully included in the PHOENIX group’s key financial figures since the fourth quarter of the previous fiscal year.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) fell from €768.8 million to €640.3 million. Adjusted for significant one-off effects, EBITDA rose from €507.4 million to €653.9 million.

Profit before tax increased from €175.7 million to €214.2 million. Adjusted for significant one-off effects, profit before tax at the end of the third quarter was at €227.8 million, slightly above the same period of the previous year (€222.3 million).

Well positioned across the group
“In the first three quarters of fiscal year 2023/24, we continued on our stable growth path despite a difficult market environment,” says Sven Seidel, Chief Executive Officer of PHOENIX Pharma SE, adding: “Numerous success stories were written throughout the company in the first nine months. Each one makes me confident that we are well positioned across the group and will emerge from this fiscal year stronger than before.”

Market position to be further expanded
For fiscal year 2023/24, the PHOENIX group expects to further expand its market position in Europe through organic growth, acquisitions, and efficiency gains, thereby increasing revenue slightly above the level of growth on the European pharmaceutical markets. Revenue growth is expected in nearly all markets in which the PHOENIX group is present.

A moderate increase in profit before tax is forecast for fiscal year 2023/24. A slight rise in the equity ratio is expected.

Key figures of PHOENIX Pharma SE compared with the same period of the previous year

 1st to 3rd quarter
2022/23*
in €m
1st to 3rd quarter
2023/24
in €m

Total operating performance1

31,735.8

42,597.4

Revenue

24,485.2

35,044.8

EBITDA (before significant one-off effects)

507.4

653.9

EBITDA

768.8

640.3

EBIT

246.1

332.7

Profit before tax (before significant one-off effects)

222.3

227.8

Profit before tax

175.7

214.2

Profit after tax

177.2

152.3

Equity2

3,194.6

3,420.0

Equity ratio (in %)2

23.5

24.7

Net debt2

3,030.1

3,389.1

 (Balance sheet date 31/10/2023)
* The previous year’s figures were restated due to the finalisation of a provisional purchase price allocation.
1 Total operating performance = revenue + handled volume (handling for service charge).
2 As at reporting dates 31/10/2022 and 31/10/2023.
 

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Press contacts

Maren HolodaDirector Corporate Communications+49 621 8505 8593m.holoda(at)phoenixgroup.eu