PHOENIX group delivers strong run in first half-year

  • Agreement on acquisition of parts of McKesson’s European business activities
  • Further growth in total operating performance and revenue
  • EBITDA before one-off effects exceeds previous year’s figure
  • Net debt further reduced

The PHOENIX group continued its strong run in the first half of fiscal year 2021/22 (31 July 2021). Following the positive business development of the previous quarter, the pan-European healthcare provider was again able to increase its revenue by 6.0 per cent (€843.7 million) compared with the previous year to €14.8 billion. With a 6.6 per cent rise to €18.9 billion, total operating performance also improved significantly versus the same period of the previous year, which was affected by the COVID-19 pandemic. This key figure, which is relevant to pharmaceutical wholesale, comprises revenue and handling for service charge. After the first six months of the current fiscal year, EBITDA adjusted for one-off effects rose by 9.3 per cent (€29.0 million) to €341.7 million.

“The continued growth in revenue and earnings underscores the strong position of the PHOENIX group in the European healthcare sector,” says Sven Seidel, Chief Executive Officer of PHOENIX Pharma SE. “This is a team success, to which colleagues throughout Europe have contributed. It also lays the best foundation for the challenges that lie ahead in the second half of the year.”

Aim to expand European presence
In July, the PHOENIX group announced that it had reached an agreement to acquire parts of McKesson’s European business activities. The companies’ agreement includes McKesson Europe’s operations in Belgium, France, Ireland, Italy, Portugal, and Slovenia as well as the European headquarters in Stuttgart and the minority stake in the Brocacef Groep joint venture in the Netherlands. The transaction is subject to antitrust approval and other customary closing conditions.

1st half of 2021/22: financial position further improved
As at the reporting date of 31 July 2021, the PHOENIX group’s equity increased by €181.2 million compared with the same period of the previous year to €3.1 billion. In comparison with the first half of the previous year, net debt decreased from €2.4 billion to €2.2 billion.

Positive outlook confirmed
The PHOENIX group forecasts revenue growth slightly above that of the European pharmaceutical markets for the full year 2021/22. Adjusted for significant one-off effects, profit before tax for fiscal year 2021/22 is expected to be slightly above the level seen in 2020/21. A slight increase is also anticipated in the equity ratio.

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

 1st half of
in €m
1st half of
in €m

Total operating performance1






Total income2



EBITDA (before significant one-off effects)






Earnings after taxes (before significant one-off effects)



Earnings after taxes






Equity ratio (in %)3



Net debt3



 (Balance sheet date 31/07/2021)
1 Total operating performance = revenue + handled volume (handling for service charge).
2 Total income = gross income + other operating income.
3 As at reporting dates 31/07/2020 and 31/07/2021.

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