- Total operating performance and revenue increased again
- EBITDA before one-off effects exceeds previous year’s figure
- Net debt further reduced
Mannheim, 24 June 2021 – 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.
Growth forecast
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
| 1st quarter 2020/21 in €m | 1st quarter 2021/22 in €m | |
| Total operating performance1 | 9,224.9 | 9,309.1 |
| Revenue | 7,224.2 | 7,313.2 |
| Total income2 | 772.9 | 751.9 |
| EBITDA (before significant one-off effects) | 158.0 | 167.2 |
| EBITDA | 168.9 | 134.5 |
| Profit after tax (before significant one-off effects) | 50.0 | 60.0 |
| Profit after tax | 58.8 | 36.1 |
| Equity3 | 2,834.0 | 2,998.5 |
| Equity ratio (in %)3 | 29.2 | 29.7 |
| Net debt3 | 2,420.2 | 2,265.3 |
(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.
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