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First half-year 2019/20 – PHOENIX group improves its earnings
Mannheim, Germany: –
- Significant rise in profit compared with same period of previous year
- PHOENIX agrees purchase of 20 pharmacies in the Netherlands with Thio Pharma Pharmacies
- Outlook for 2019/20 remains positive
The further expansion of the business has brought more revenue and profit for the PHOENIX group in the first half-year 2019/20 (February to July 2019). The healthcare provider with activities in 27 countries across Europe achieved a revenue increase of 6.1 per cent (31 July 2019) to €13.3 billion. The growth was due in particular to the Eastern Europe region and the acquisition of the Romanian pharmaceutical wholesaler Farmexim and the nationwide pharmacy chain Help Net in July 2018. “As well as increased revenue, the PHOENIX group has also recorded profitable growth,” stated Oliver Windholz, Chief Executive Officer of PHOENIX Pharma SE. EBITDA (earnings before interest, taxes, depreciation, and amortisation) grew by 7.3 per cent to €224.6 million. Profit after taxes rose by 16.7 per cent in the first half-year to €96.6 million. Total operating performance, a particularly relevant figure for pharmaceutical wholesale, also increased by 5.3 per cent to €16.9 billion. This key figure comprises revenue and handling for service charge.
Positive outlook for the full year 2019/20
For the full fiscal year 2019/20 (31 January 2020), the PHOENIX group expects to further improve its position in the European markets thanks to organic growth and targeted acquisitions. The company anticipates revenue above the growth level of the European pharmaceutical markets, with increases in almost all markets in which it is active. In terms of EBITDA, the PHOENIX group expects that the 2019/20 level will exceed that of the previous year, 2018/19.
PHOENIX strengthens its activities with Dutch Thio Pharma Pharmacies
In July 2019, the PHOENIX group signed an agreement to acquire 20 pharmacies in the Netherlands with Thio Pharma Pharmacies. The company already operates more than 300 of its own BENU pharmacies in the country. The approval of the relevant antitrust authorities for the purchase of the Thio pharmacy chain with around 300 employees is pending. With the acquisition of Thio Pharma Pharmacies, the PHOENIX group is strengthening its position as the best integrated healthcare provider in the Netherlands and across Europe. “The expanded pharmacy portfolio is in line with our three strategic aspects of ‘depth, breadth, and digitalisation’, which means that the PHOENIX group is aiming to position itself more deeply, with more pharmacies, more broadly, with more services, and sustainably, with digital offerings, in 27 countries,” explained CEO Windholz. He continued: “In the medium term, we will transfer the pharmacies to our corporate brand BENU, which will bring us even closer to our customers and the end consumers in the Netherlands.”
Key figures of PHOENIX Pharma SE compared with the same period of the previous year
|1st half of 2018/19
|1st half of 2019/20
|Total operating performance2||16.081,9||16.941,6|
|Profit after taxes||82,8||96,6|
|Equity ratio (in %)4||30,8||33,0|
(Balance sheet date 31/07/2019)
1 Without application of IFRS 16 Leasing.
2 Total operating performance = revenue + handled volume (handling for service charge).
3 Total income = gross income + other operating income.
4 As at reporting dates 31/07/2018 and 31/07/2019.
About PHOENIX group
The PHOENIX group, headquartered in Mannheim, is a leading pharmaceutical trader in Europe. Active in 27 countries, the company offers unique geographical coverage throughout Europe, making a vital contribution to comprehensive healthcare with more than 36,000 employees. The PHOENIX group’s vision is to be the best integrated healthcare provider – wherever it is active.
The PHOENIX group provides vital links between manufacturer and patient. Pharmaceutical manufacturers, pharmacies, doctors, hospitals, health insurance funds, and patients across Europe can benefit from its service offerings. In pharmaceutical wholesale, the PHOENIX group is active with 164 distribution centers in 27 countries and supplies pharmacies and medical institutions with drugs and other health products. Numerous other products and services for pharmacy customers complete the portfolio – from assistance in advising patients to modern goods management systems to pharmacy cooperation programmes. With around 13,500 member pharmacies, PHOENIX Pharmacy Partnership is the umbrella for a European network of 13 cooperation and partner programmes in 16 countries. Pharma Services provides services across the whole supply chain for the pharmaceutical industry.
The PHOENIX group already operates around 2,500 of its own pharmacies in 14 European countries, gaining profound knowledge of the pharmacy business. The group’s approximately 18,500 pharmacy employees have around 140 million customer contacts each year, dispensing approximately 315 million drug packages to patients and advise them on issues concerning pharmaceuticals and general health.
Further information about the PHOENIX group: www.phoenix-all-in-one.eu.