The PHOENIX group continued to grow in the first half of the fiscal year 2016/17. From February to July 2016, total operating performance, including revenue and handled volume, rose by 2.7 per cent compared with the same period of the previous year to €14.6 billion. Adjusted for exchange rate effects, this growth amounted to 3.8 per cent. The company has thus expanded its position as a leading healthcare provider once again.
In the first half-year, revenue increased by €222.7 million to €11.9 billion, corresponding to a rise of 1.9 per cent (adjusted for exchange rate effects: 3.2 per cent) in comparison with the reference period of the previous year. This growth in revenue was essentially attributable to the acquisition of Mediq Apotheken Nederland B.V. as well as increases in revenue in Northern and Eastern Europe.
Gross income rose by €36.4 million to €1.2 billion in the first six months and the gross income margin increased to 9.7 per cent. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) and earnings before interest and taxes (EBIT) fell slightly short of the previous year’s levels, at €201.9 million and €143.3 million respectively. Earnings after taxes rose by €1.2 million to €97.5 million after adjustment for exchange rate effects and the acquisition and integration costs relating to the Dutch company Mediq.
The financial result improved by €2.5 million to €−22.6 million, owing to the further optimisation of the financing structure. Equity increased on account of the positive result to over €2.8 billion, representing an equity ratio of 33.1 per cent. In June 2016, the rating agency Standard & Poor’s confirmed the BB+ rating for PHOENIX and upgraded the outlook from stable to positive.
“In the first half of 2016/17, the PHOENIX group maintained its sustainable and profitable growth trend. Thanks to our interconnected business activities in wholesale and retail, as well as targeted acquisitions such as Mediq in the Netherlands, we are strengthening our leadership position in Europe”, said Oliver Windholz, Chief Executive Officer of the PHOENIX group, on presenting the half-year figures in Mannheim.
Key figures of the PHOENIX group in comparison with the previous year’s period
| 1st half of 2015/16 in €m | 1st half of 2016/17 in €m | |
|---|---|---|
| Total operating performance1 | 14.257,6 | 14.648,9 |
| Revenue | 11.674,5 | 11.897,2 |
| Total income | 1.187,5 | 1.220,8 |
| EBITDA | 218,5 | 201,9 |
| EBIT | 162,1 | 143,3 |
| Earnings after taxes (adjusted for exchange rate effects and Mediq acquisition costs) | 96,3 | 97,5 |
¹ Total operating performance = revenue + handled volume (handling for service charge).
| 31 Jul 2015 | 31 Jan 2016 | 31 Jul 2016 | |
|---|---|---|---|
| Equity (in €m) | 2.602,7 | 2.726,5 | 2.817,3 |
| Equity ratio (in %) | 33,9 | 35,1 | 33,1 |
| Net debt (in €m) | 1.438,2 | 1.121,6 | 1.653,8 |
