- Growth in total operating performance and revenue
- Profit before tax (before significant one-off effects) above previous year
- Net debt further reduced compared with same quarter of previous year
- Agreement on acquisition of parts of McKesson’s European business activities
The PHOENIX group achieved another strong performance in the first nine months of fiscal year 2021/22 (31 October 2021). The company continued to develop successfully in the third quarter with a year-on-year increase in revenue of 7.2 per cent (€1.5 billion) to €22.5 billion. Compared with the same period of the previous year, total operating performance also saw clear growth of 9.0 per cent to €29.1 billion. This figure, which is relevant to pharmaceutical wholesale, comprises revenue and handling for service charge.
The pan-European healthcare provider also increased earnings before interest, taxes, depreciation, and amortisation (EBITDA), adjusted for one-off effects, by €32.2 million (6.9 per cent) to €496.3 million compared with the previous year. Profit before tax (before one-off effects) also showed significant year-on-year growth of 7.9 per cent or €16.8 million, rising to €229.7 million. In addition, net debt has been further reduced compared with the same quarter of the previous year, from €2.4 billion to €2.0 billion as at the respective reporting date of 31 October.
“We are proud of our performance over the past nine months. It is clear that the path we have chosen is paying off,” says Sven Seidel, Chief Executive Officer of PHOENIX Pharma SE, adding: “The positive development of our key figures over several quarters means we can look ahead with confidence to the full year 2021/22 and beyond.”
Aim to expand European presence
In July, the PHOENIX group announced that it had reached an agreement to acquire parts of McKesson’s European business activities. The companies’ agreement includes McKesson Europe’s operations in Belgium, France, Ireland, Italy, Portugal, and Slovenia as well as the European headquarters in Stuttgart, German company recucare GmbH, and the minority stake in the Brocacef Groep joint venture in the Netherlands. The transaction is subject to antitrust approval and other customary closing conditions.
Continued positive outlook
The PHOENIX group anticipates revenue growth slightly above the level of the European pharmaceutical markets for the full year 2021/22. Adjusted for significant one-off effects, the company expects profit before tax for fiscal year 2021/22 to be slightly above the value of the previous year. A slight rise is also expected in the equity ratio.
Key figures of PHOENIX Pharma SE compared with the same period of the previous year
| 1st to 3rd quarter 2020/21 in €m | 1st to 3rd quarter 2021/22 in €m | |
Total operating performance1 | 26,677.2 | 29,081.4 |
Revenue | 20,981.7 | 22,487.6 |
Total income2 | 2,252.3 | 2,357.1 |
EBITDA (before significant one-off effects | 464.1 | 496.3 |
EBITDA | 475.0 | 461.4 |
Profit before tax (before significant one-off effects) | 212.9 | 229.7 |
Profit before tax | 223.8 | 194.8 |
Profit after tax | 166.5 | 136.9 |
Equity3 | 2,875.1 | 3,051.0 |
Equity ratio (in %)3 | 29.3 | 28.8 |
Net debt3 | 2,415.2 | 2,017.7 |
(Balance sheet date 31/10/2021)
1 Total operating performance = revenue + handled volume (handling for service charge).
2 Total income = gross income + other operating income.
3 As at reporting dates 31/10/2020 and 31/10/2021.
