In the first quarter of fiscal year 2020/21 (30/04/2020), the PHOENIX group expanded its leading position in pharmaceutical wholesale and pharmacy retail. “Particularly during the time of the coronavirus pandemic, we have proven our important contribution as a healthcare provider for Europe and ensured the reliable supply of medicines to millions of people,” said Sven Seidel, Chief Executive Officer of PHOENIX Pharma SE, at the presentation of the quarterly results.
Surge in revenue and earnings
The coronavirus pandemic has led to increased demand for medicines and health products, especially during March 2020. In the first three months of the fiscal year, the company improved its key financial figures. From February to April 2020, the PHOENIX group recorded growth in total operating performance to €9.2 billion. This key figure, which is relevant to pharmaceutical wholesale and comprises revenue and handled volume (handling for service charge), rose by 10.9 per cent compared with the same period of the previous year. Adjusted for foreign exchange rate effects, this increase amounted to 12.0 per cent. With activities in 27 European countries, the company’s revenue grew by 10.5 per cent compared with the previous year to €7.2 billion (adjusted for foreign exchange rate effects, an increase of 11.5 per cent).
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose by €27.8 million to €168.9 million in the first quarter. This corresponds to an increase of 19.7 per cent. The profit for the period grew by 32.1 per cent versus the comparison period, amounting to €58.8 million. Equity rose by €1.6 million compared with 31 January 2020 to €2.8 billion.
Continued positive outlook for fiscal year 2020/21
For the fiscal year 2020/21, the PHOENIX group expects to further improve its market position in Europe. The company anticipates an increase in revenue slightly above the growth of the European pharmaceutical markets. For earnings before taxes in fiscal year 2020/21, PHOENIX forecasts a level above that of the previous year. The company expects a slight rise in the equity ratio.