- Increase of 5 per cent in total operating performance and profit in the first half-year
- New pharmacy-exclusive category brand LIVSANE introduced
The PHOENIX group achieved further growth in the first six months of the fiscal year 2017/18 (February to July 2017). The total operating performance significant for pharmaceutical wholesale rose by 4.7 per cent compared with the same period of the previous year to €15.3 billion. Adjusted for foreign exchange rate effects, the increase amounted to 5.3 per cent. Group revenue grew by 3.4 per cent (adjusted for foreign exchange rate effects: 3.8 per cent) to €12.3 billion. The healthcare provider recorded increases in the Northern and Eastern European markets in particular, as well as in the Netherlands as a result of the acquisition of Mediq Apotheken Nederland B.V. in 2016.
In the first six months, the company increased its total income by 6.9 per cent to €1.3 billion. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew by €10.3 million to €212.2 million – an increase of 5.1 per cent. Earnings after taxes rose by 5.3 per cent to €88.7 million.
The financial result showed stable development, totalling €−22.1 million. As at 31 July 2017, equity stood at €2.75 billion, slightly below the previous year’s value of €2.82 billion following a capital reduction by the shareholders. The equity ratio reached 32.0 per cent.
PHOENIX launches new pharmacy-exclusive category brand
In July 2017, the company introduced a Europe-wide category brand for all pharmacies for the first time: LIVSANE. Following LIVSANE’s launch, the health products will gradually become available in ten European countries. This range is designed for independent pharmacies within the PHOENIX cooperation programmes and individual pharmacies supplied by the company as pharmaceutical wholesale customers. PHOENIX will also market LIVSANE products in its own BENU pharmacies, of which there are around 1,200.
Positive forecast for fiscal year 2017/18
“For 2017/18, we expect our growth to exceed that of the European pharmaceutical markets”, said Oliver Windholz, Chief Executive Officer of the PHOENIX group, following the publication of the half-year figures. The company aims to establish an even stronger market position in Europe by means of organic growth and targeted acquisitions. “We anticipate revenue growth in almost all countries in which we are active”, stated Windholz.
Key figures of the PHOENIX group compared with the same period of the previous year
|1st half-year 2016/17 in €m||1st half-year 2017/18 in €m|
|Total operating performance||14.648,9||15.338,3|
|Profit after tax||84,2||88,7|
|31. July 2016||31. January 2017||31. July 2017|
|Equity ratio||in %||33,1||33,1||32,0|
|Net debt||in €m||1.653,8||1.377,5||1.636,0|