The PHOENIX group achieved further growth in the first six months of fiscal year 2020/21 (31 July 2020). The leading healthcare provider in pharmaceutical wholesale and pharmacy retail improved its key financial figures. This resulted from increased demand due to the coronavirus pandemic, particularly in the first quarter. “We have proven our key role in the European healthcare systems during these challenging times. The commitment of our employees in the distribution centres and own pharmacies across Europe made this possible,” said Sven Seidel, Chief Executive Officer of PHOENIX Pharma SE, at the presentation of the half-year results.
Growth in revenue and profit
From February to July 2020, the PHOENIX group increased its total operating performance to €17.8 billion, a rise of 4.9 per cent compared with the same period of the previous year. This key figure, which is relevant to pharmaceutical wholesale, comprises revenue and handling for service charge. Adjusted for foreign exchange rate effects, the increase amounted to 5.8 per cent. Revenue grew to €14.0 billion, a rise of 4.9 per cent compared with the previous year (adjusted for foreign exchange rate effects, an increase of 5.8 per cent). The company, which operates in 27 European countries, recorded an increase of €34.3 million in earnings before interest, taxes, depreciation, and amortisation (EBITDA) to €323.6 million. This corresponds to a growth of 11.8 per cent. The profit for the period in the first half-year increased by €20.0 million, or 21.6 per cent, to €113.0 million compared with the same period of the previous year. Equity rose to €2.9 billion at this year’s reporting date, an increase of €18.5 million compared with 31 July 2019. The equity ratio showed a corresponding increase from 30.3 per cent to 30.6 per cent.
Outlook remains positive for the fiscal year
The PHOENIX group expects to expand its market position in Europe in the full year 2020/21. The company forecasts revenue growth slightly above that of the European pharmaceutical markets. PHOENIX anticipates higher earnings before taxes compared with the previous year and a slight increase in the equity ratio for 2020/21.
Key figures of PHOENIX Pharma SE compared with the same period of the previous year (rounded)
|1st half of 2019/20 in €m||1st half of 2020/21 in €m|
|Total operating performance1||16,939.4||17,761.9|
|Profit before tax||93.0||113.0|
|Profit for the period||93.0||113.0|
|Equity ratio (in %)3||30.3||30.6|
(Balance sheet date 31/07/2020)
1 Total operating performance = revenue + handled volume (handling for service charge).
2 Total income = gross income + other operating income.
3 As at reporting dates 31/07/2019 and 31/07/2020.