PHOENIX group continues to drive revenue forward

• Increase in total operating performance and revenue
• Rise in total income compared with the same period of the previous year
• Acquisition of the Finnish research and consulting company Medaffcon Oy
• Expansion of regional growth markets with new logistics centre in Serbia

The PHOENIX group continued to grow in the first quarter of the fiscal year 2017/18 (February to April 2017). Total operating performance, comprising revenue and handled volume which cannot be recognised as revenue, rose by 4.5 per cent compared with the same period of the previous year to €7.6 billion. Adjusted for foreign exchange rate effects, the increase amounted to 5.0 per cent. The pan-European healthcare provider’s group revenue grew by €166.8 million to €6.0 billion, corresponding to a rise of 2.8 per cent (adjusted for foreign exchange rate effects: 3.2 per cent) in comparison with the same period of the previous year. PHOENIX achieved revenue increases in Northern Europe in particular and as a result of the acquisition of Mediq Apotheken Nederland B.V., which was concluded in June 2016.

In the first three months, total income rose by €58.2 million to €646.4 million. At €95.4 million, earnings before interest, taxes, depreciation, and amortisation (EBITDA) fell slightly short of the same quarter of the previous year. This was essentially owing to increased pressure on margins in Germany and regulatory interventions in the health system in Great Britain, which PHOENIX countered with measures to optimise the result. Earnings before interest and taxes (EBIT) amounted to €62.4 million. Earnings after taxes declined by €4.4 million to €39.0 million compared with the same period of the previous year after adjustment for foreign exchange rate effects and acquisition costs relating to the Dutch company Mediq.

At €−10.6 million, the financial result was marginally below the same period of the previous year, essentially due to higher net debt following the acquisitions concluded in 2016. Equity stood at €2.72 billion (previous year: €2.75 billion), which equates to an equity ratio of 32.2 per cent.

Acquisitions and investments strengthen the PHOENIX group

In May 2017, subsidiary company Tamro acquired the research and consulting company Medaffcon Oy in Finland. The PHOENIX group aims to provide comprehensive services across Europe in wholesale, pharmacy retail, and services for pharmaceutical manufacturers. This also includes the opening of a new logistics centre near the Serbian capital, Belgrade. “Along with our hubs in Prague and Warsaw, we have substantially expanded our range of services for the pharmaceutical industry in the regional growth markets of Central and Eastern Europe”, said Oliver Windholz, Chief Executive Officer of the PHOENIX group. 

Positive outlook for the fiscal year 2017/18 

In the current fiscal year 2017/18, PHOENIX intends to further expand its market position in Europe by means of organic growth and targeted acquisitions. “We expect an increase in revenue above the growth of the European pharmaceutical markets and anticipate a noticeable rise in adjusted EBITDA”, concluded Windholz on presenting the quarterly figures.

Key figures of the PHOENIX group in comparison with the previous year’s period

(Balance sheet date 30/04/2017)

¹ Total operating performance = revenue + handled volume (handling for service charge). 
² Total income = gross income + other operating income. 
³ Adjusted for foreign exchange rate effects and Mediq acquisition costs. 
⁴ As at reporting dates 30/04/2016 and 30/04/2017.