- Total operating performance and revenue increased again
- EBITDA before one-off effects exceeds previous year’s figure
- Net debt further reduced
The PHOENIX group continued its growth course in the first quarter (30/04/2021) of fiscal year 2021/22. The pan-European healthcare provider’s revenue grew by €69.0 million (1.0 per cent) in comparison with the previous year to €7.3 billion. In the first quarter, total operating performance increased by €84.2 million in relation to the comparison period, which was affected by the COVID-19 pandemic, to €9.3 billion. This key figure, which is relevant to pharmaceutical wholesale, comprises revenue and handling for service charge.
“After a challenging fiscal year 2020/21, in which we withstood the COVID-19 pandemic, we were able to continue our growth in the first quarter of 2021/22. The increase in revenue and earnings shows that the PHOENIX group is on a stable course and that we are once again heading for a solid fiscal year,” emphasises Sven Seidel, Chief Executive Officer of PHOENIX Pharma SE.
EBITDA adjusted for one-off effects exceeds previous year’s figure
In the first three months of the fiscal year, EBITDA adjusted for one-off effects rose by €9.2 million to €167.2 million. This corresponds to an increase of 5.8 per cent. EBITDA decreased from €168.9 million to €134.5 million. There were two significant one-off effects: In the first quarter of the previous year, non-recurring income in connection with COVID-19 in the United Kingdom resulted in increased pharmacy funding of €10.9 million from the National Health Service (NHS). In the first quarter of the current fiscal year 2021/22, costs related to measurement of inventories amounted to €−32.7 million.
Positive financial position
As of the reporting date of 30 April, the company’s equity increased from €2.8 billion in the same quarter of the previous year to €3.0 billion. As of 30 April 2021, the equity ratio stood at 29.7 per cent (30 April 2020: 29.2 per cent). Net debt was reduced in comparison with the same quarter of the previous year by €155 million to €2.3 billion.
For the fiscal year 2021/22, the PHOENIX group anticipates a rise in revenue slightly above the growth level of the European pharmaceutical markets. Profit before tax is expected to be slightly above the level seen in 2020/21. The equity ratio is also expected to increase slightly.
Key figures of PHOENIX Pharma SE compared with the same period of the previous year
Total operating performance1
EBITDA (before significant one-off effects)
Profit after tax (before significant one-off effects)
Profit after tax
Equity ratio (in %)3
(Balance sheet date 30/04/2021)
1 Total operating performance = revenue + handled volume (handling for service charge).
2 Total income = gross income + other operating income.
3 As at reporting dates 30/04/2020 and 30/04/2021.