- Total operating performance grew by 4.8 per cent
- Total income increased compared with the same period of the previous year
- Entry into the Romanian market following completed acquisition
Mannheim, The PHOENIX group continued to grow in the first half-year. In the first six months of fiscal year 2018/19 (February to July 2018), total operating performance rose by 4.8 per cent to €16.1 billion. This figure comprises revenue and handling for service charge. Adjusted for foreign exchange rate effects, the rise amounted to 5.7 per cent. The pan-European healthcare provider’s revenue grew by €267.9 million (2.2 per cent) to €12.6 billion. Excluding foreign exchange rate effects, the increase in revenue amounted to 2.8 per cent. In particular, this development was connected with revenue gains in Eastern Europe and Germany.
Total income rose by €29.9 million to €1.3 billion in comparison with the first six months of the previous year. At €209.3 million, earnings before interest, taxes, depreciation, and amortisation (EBITDA) fell slightly short of the same period of the previous year. This was due to extraordinary expenses relating to optimisation programmes. The company has a solid financial structure for continued growth. Equity increased from €2.56 billion in the same period of the previous year to €2.68 billion, while the equity ratio rose from 29.6 per cent to 30.8 per cent.
Entry into the Romanian market and positive outlook
In July 2018, the healthcare provider successfully completed the acquisition of the Romanian pharmaceutical wholesaler Farmexim S.A. and the nationwide pharmacy chain Help Net Farma S.A. The PHOENIX group had already signed a purchase agreement for the takeover of the companies in April. “With our entry into Romania, we are opening up an entirely new healthcare market and further expanding our leading position in Europe,” explained Oliver Windholz, Chief Executive Officer of PHOENIX Pharma SE, on presenting the half-year figures in Mannheim, Germany. “Thanks to targeted acquisitions like these in Romania and owing to organic growth, for the whole of fiscal year 2018/19 we expect our revenue to grow at a higher rate than the European pharmaceutical markets. We therefore anticipate revenue above the previous year’s level in almost all the national markets in which we are active,” stated Windholz.
Key figures of the PHOENIX group compared with the same period of the previous year
|1st half of 2017/18
|1st half of 2018/19
|Total operating performance1||15.338,3||16.081,9|
|Equity ratio (in %)3||29,6||30,8|
(Balance sheet date 31/07/2018)
1 Total operating performance = revenue + handled volume (handling for service charge).
2 Total income = gross income + other operating income.
3 As at reporting dates 31/07/2017 and 31/07/2018.