- Total operating performance and revenue further increased
- Profit for the period significantly improved compared with the first half of 2014/15
- Growth exceeds European market growth
- Positive outlook for fiscal year 2015/16 confirmed
The PHOENIX group underlined its position as a leading healthcare provider in Europe in the first half of the fiscal year 2015/16. The company’s overall performance in the European market continued developing very positively. Total operating performance, which includes revenue as well as handled volume for service charge, rose by 6.7 per cent to EUR 14.3 billion.
Adjusted for exchange rate effects, this growth amounts to 6.0 per cent. Revenue rose by 5.2 per cent to EUR 11.7 billion. This primarily relates to an increase in revenue in Germany, where the pharmaceutical wholesale market experienced strong growth. The PHOENIX group also recorded higher revenues in the majority of its foreign markets.
The company’s gross income increased by EUR 84.2 million to EUR 1.1 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 half of 2015/16 to EUR 218.5 million. The profit for the period also improved significantly from EUR 76.8 million to EUR 92.2 million. “With the results from the past half-year, the PHOENIX group has once again underlined its position as a leading healthcare provider in Europe. Thanks to these developments, 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 23.7 million in comparison with the corresponding period of the previous year to EUR –25.1 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 21.0 million to EUR 137.0 million.
Equity rose from EUR 2.2 billion as of 31 July 2014 to EUR 2.6 billion, resulting in an increase in equity ratio of 33.9 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
|First half of|
2014/15 in EUR k
|First half of|
2015/16 in EUR k
|Total operating performance1||13.357.470||14.257.631|
|Profit before tax||116.013||136.974|
|Profit for the period||76.773||92.184|
¹ Total operating performance = revenue + handled volume (handling for service charge).
|31 July 2014||31 July 2015|
|Equity (in EUR k)||2.244.923||2.602.709|
|Equity ratio (in %)||30,6||33,9|
|Net debt (in EUR k)||1.807.914||1.438.196|