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PHOENIX group becomes largest pharmacy operator in Europe

news-releasesPHOENIX group
January 29th 2020

Mannheim, Germany: –

  • PHOENIX takes over pharmacies from Thio Pharma in the Netherlands as well as the pharmacy chains Proxi Pharm in Rumania and FAJN in the Czech Republic
  • Significant rise in revenue and profit compared with same period of previous year

The PHOENIX group has become Europe’s largest pharmacy operator. With the acquisition of 20 Dutch Thio Pharma pharmacies, 17 Proxi Pharm pharmacies in Romania, and 10 newly added FAJN sites in the Czech Republic, the company now operates over 2,700 of its own pharmacies in 15 European countries. As a result, Europe’s number one pharmaceutical wholesaler has also become the leading pharmacy operator across the entire continent. “With this unique pharmacy and wholesale network, complemented by Health Logistics and services, we are strengthening our position as the best integrated healthcare provider in Europe. In doing so, we always put the satisfaction of our customers and our partners at the heart of our activities,” says Sven Seidel, Chief Executive Officer of PHOENIX Pharma SE since 1 November 2019.

With the addition of the Thio Pharma pharmacies, there will be a total of 340 BENU pharmacies in the Netherlands. The acquisition of Proxi Pharm in Romania means that the Help Net pharmacy chain, which belongs to the PHOENIX group, will grow to approximately 260 sites. Including FAJN, the number of BENU pharmacies in the Czech Republic will reach around 250.

Increase in revenue and profit

The ongoing expansion of its business activities brought more revenue and profit to the PHOENIX group in the first three quarters of 2019/20 (February to October 2019). The healthcare provider with an active presence in 27 countries across Europe achieved a revenue increase of 5.6 per cent (31 October 2019) to €20.1 billion. The rise 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. EBITDA (earnings before interest, taxes, depreciation, and amortisation) grew by 3.2 per cent to €334.0 million. Profit after taxes rose by 14.2 per cent in the first nine months to €142.8 million. Total operating performance, a particularly relevant figure for pharmaceutical wholesale, also increased by 5.3 per cent to €25.7 billion. This key figure comprises revenue and handling for service charge.

For the full fiscal year 2019/20 (31 January 2020), the PHOENIX group expects to further improve its market position in Europe 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.

Key figures of PHOENIX Pharma SE compared with the same period of the previous year

1st to 3rd quarter 2018/19
in €m
1st to 3rd quarter 2019/20
in €m1
Total operating performance2 24,408.1 25,699.9
Revenue 19,052.3 20,109.7
Total income3 2,031.6 2,158.9
EBITDA 323.6 334.0
EBIT 220.3 228.7
Profit after taxes 125.0 142.8
Equity4 2,720.7 2,901.0
Equity ratio (in %)4 30.9 32.9
Net debt4 2,096.3 1,792.9

 

(Balance sheet date 31/10/2019)
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 31/10/2018 and 31/10/2019.

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