PHOENIX on target

• First quarter of 2016/17: increase in total operating performance, revenue, and profit after tax adjusted for foreign exchange rate effects
• Takeover of Mediq Apotheken Nederland BV completed
• Positive outlook for fiscal year 2016/17 confirmed

The PHOENIX group continued its growth course in the first quarter of the fiscal year 2016/17. From February to April 2016, total operating performance from own and consignment goods rose by 1.9 per cent compared with the same period of the previous year to € 7.3 billion.

The company has thus expanded its position as a leading healthcare provider in Europe. The PHOENIX group recorded an increase in group revenue to € 5.9 billion. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) totalled slightly below previous year’s level to € 99.4 million and earnings before interest and tax (EBIT) to € 71.2 million. In contrast, profit after tax adjusted for foreign exchange rate effects rose to € 45.3 million.

The financial result improved by € 2.1 million to € –9.7 million, largely because of an average net debt that was lowered once again. Equity increased from € 2.5 billion to € 2.8 billion owing to the result. The equity ratio rose to 34.8 per cent (first quarter of previous year: 33.6 per cent).

“With the solid first quarter, the PHOENIX group is well on track. In the fiscal year 2016/17, we will further expand our leading position in Europe by means of organic growth and targeted acquisitions. Thanks to our most recent acquisition of Mediq in the Netherlands, we have become the leading integrated pharmaceutical distribution provider in the country”, says Oliver Windholz, Chief Executive Officer of the PHOENIX group.

Largest takeover in corporate history

At the beginning of June 2016, Brocacef Groep NV, in which the PHOENIX group holds a majority interest, received approval from the Dutch authorities for the acquisition of Mediq Apotheken Nederland BV. The largest individual takeover in the history of the company to date has already been completed. Besides pharmacies and pharmaceutical wholesale, the acquisition also includes logistics services for the pharmaceutical industry. In the future, Brocacef will achieve revenue of € 2 billion with approximately 5,000 employees. Thanks to its own pharmacies, franchises, and partners, Brocacef also has a network of around 500 pharmacies.

“As a link between manufacturer and patient, we are steadily implementing our vision of being the best integrated healthcare provider – wherever we are”, continued Windholz.

Moreover, the PHOENIX subsidiary ADG Apotheken-Dienstleistungsgesellschaft mbH acquired around 90 per cent of the shares in Novodata Zrt., Budapest in May 2016, after receiving the approval of the Hungarian antitrust authorities. Novodata is the market leader in the pharmacy software sector in the Hungarian healthcare market.

Windholz is confident about the current fiscal year: “As things stand, we still expect an overall revenue growth for 2016/17 that exceeds the European pharmaceutical markets.”

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

¹ Total operating performance = revenue + handled volume (handling for service charge).