- Total operating performance and revenue increased again
- Profit for the period clearly improved compared with the first nine months of 2014/15
- Growth exceeds European market as a whole
- Positive outlook for fiscal year 2015/16 confirmed
The PHOENIX group underlined its position as a leading healthcare provider in Europe in the first three quarters of the fiscal year 2015/16. The company’s overall performance in the European market continued developing very positively. Total operating performance, including revenue as well as handled volume for service charge, rose by 5.2 per cent to EUR 21.2 billion.
Adjusted for exchange rate effects, this growth amounted to 4.6 per cent. Revenue rose by 3.9 per cent to EUR 17.4 billion. This primarily relates to an increase in revenue in Germany, where the pharmaceutical wholesale market experienced considerable growth. The PHOENIX group also recorded higher revenues in the majority of its foreign markets.
The company’s gross income increased by EUR 107.7 million to EUR 1.7 billion, which corresponds to a rise in the gross income margin from 9.3 to 9.6 per cent and is largely due to an improved cost-of-sales ratio. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose in the first three quarters of 2015/16 to EUR 340.1 million. In addition, the profit for the period increased clearly from EUR 127.4 million to EUR 149.7 million. “With the development over the last nine months, the PHOENIX group has reaffirmed its position as a leading healthcare provider in Europe. Thanks to these results, our outlook for the further course of the fiscal year is positive”, says Oliver Windholz, Chief Executive Officer of the PHOENIX group.
Further optimisation of the capital structure and financial result
The financial result improved by EUR 24.2 million in comparison with the corresponding period of the previous year to EUR –37.8 million, primarily as a result of the repayment in 2014 of the high-yield bond issued in 2010 as well as the lower average net debt. At the same time, profit before tax increased by EUR 28.6 million to EUR 217.5 million.
Equity rose from EUR 2.4 billion as of 31 October 2014 to EUR 2.7 billion, resulting in an increase in equity ratio of 35.0 per cent.
Forecast for the fiscal year 2015/16 confirmed
For the fiscal year 2015/16, the PHOENIX group expects to further expand its market position in Europe through organic growth and acquisitions and thereby continue to increase revenue above the level of growth on the European pharmaceutical markets.
Key figures of the PHOENIX group in comparison with the previous year’s period
|1st to 3rd quarter|
2014/15 in EUR k
|1st to 3rd quarter|
2015/16 in EUR k
|Total operating performance1||20.190.714||21.239.323|
|Profit before tax||188.935||217.515|
|Profit for the period||127.380||149.650|
¹ Total operating performance = revenue + handled volume (handling for service charge).
|31 October 2014||31 October 2015|
|Equity (in EUR k)||2.375.180||2.672.594|
|Equity ratio (in %)||32,3||35,0|
|Net debt (in EUR k)||1.529.661||1.492.275|