- Increase in total operating performance and revenue
- Positive development in profit before tax
- Growth in all regions
The PHOENIX group has begun its anniversary year with an increase in revenue and earnings. “We have remained on our growth path in a persistently challenging environment and can look back on a solid fiscal year 2023/24,” summarises Sven Seidel, Chief Executive Officer of PHOENIX Pharma SE.
In comparison with the previous year, total operating performance rose by 24.6 per cent to €57.2 billion. Total operating performance, which comprises revenue and handling for service charge, is the key figure relevant to pharmaceutical wholesale. Revenue increased by 29.6 per cent to €47.1 billion in fiscal year 2023/24, with all regions achieving growth. Of this revenue, 25.0 per cent is attributable to the McKesson companies acquired on 31 October 2022.
Overall, earnings before interest, taxes, depreciation, and amortisation (EBITDA) declined from €1.0 billion to €933.1 million. Adjusted for significant one-off effects, EBITDA rose to €946.9 million, 30.8 per cent higher than in the comparative period. Profit before tax totalled €344.3 million.
30 years of dedication to health
“These robust key financial figures mean we have the wind in our sails for the fiscal year that began in February 2024 – the year in which we are celebrating our 30th anniversary,” says Seidel. “PHOENIX group will continue to reliably fulfil its important mission for the next 30 years and will remain dedicated to healthcare in Europe.”
Holding its ground in its home market of Germany
In Germany, as in other European countries, economic development in 2023 was impacted by the consequences of the war in Ukraine as well as by higher interest rates, transport, and energy costs. In addition, intense levels of competition continued to be a key feature of the German market. Despite these challenging circumstances, the PHOENIX group remained the market leader in Germany. Revenue rose to €12.6 billion from €11.9 billion in the previous year.
Revenue growth expected in almost all PHOENIX group markets
For fiscal year 2024/25, the PHOENIX group expects to further expand its market position in Europe through organic growth and acquisitions and thereby increase revenue slightly above the level of growth on the European pharmaceutical markets. Europe’s leading healthcare provider anticipates revenue growth in almost all markets in which the company is present. A moderate increase in profit before tax compared with the previous year is forecast for fiscal year 2024/25. A slight rise in the equity ratio is expected.
Key figures of PHOENIX Pharma SE compared with the same period of the previous year
| 2022/2023 | 2023/24 |
Total operating performance1 | 45,901.2 | 57,171.8 |
Revenue | 36,316.4 | 47,064.7 |
EBITDA (before significant one-off effects) | 723.8 | 946.9 |
EBITDA | 1,010.1 | 933.1 |
EBIT | 379.9 | 498.5 |
Profit before tax (before significant one-off effects) | 305.9 | 372.0 |
Profit before tax | 287.0 | 344.3 |
Profit after tax | 256.9 | 233.2 |
Equity2 | 3,273.5 | 3,449.3 |
Equity ratio (in %)2 | 24.0 | 24.1 |
Net debt2 | 2,949.3 | 2,853.6 |
(Balance sheet date 31/01/2024)
* The previous year’s figures were restated due to the finalisation of a purchase price allocation.
1 Total operating performance = revenue + handled volume (handling for service charge).
2 As at reporting dates 31/01/2023 and 31/01/2024.
