EUROPE: Select Results in Brief (Phoenix, Migros LeShop, Hema)

German pharma giant Phoenix said it was on target after its first-quarter revenue edged up 0.7% to €5.88bn.  The group termed its results as “solid”, despite operating profit falling by 9% to €71.2m, although underlying net profit was up 2.3% to €45.3m.

CEO Oliver Windholz noted: “In the fiscal year 2016/17, we will further expand our leading position in Europe by means of organic growth and targeted acquisitions.”

LeShop, the online subsidiary of Swiss group Migros, has seen its first-half sales grow by 4.6% to 93.6m francs.

The unit said it was helped by more precise delivery times, territorial expansion, and an expansion of collection points.  LeShop now offers deliveries in more than 43 cities across Switzerland, and said its increased slots for deliveries had helped in reach new customer segments.  It also recorded increased sales of organic, ‘free from’, diet, and natural products.

Dutch group Hema saw its first-quarter net sales grow by 2.2% to €270.3m, on like-for-like growth of 1.2%, even as adjusted EBITDA surged up 19.7%.   It also managed to narrow its net loss to €14.7m, from a loss of €19.5m last year.

The group was helped by strong sales growth in France (+33.6%), Germany (+6.9%), and Spain & the UK (+15.1%).  However, this was partially offset by a 4.5% decline in Belgium and Luxembourg.  Hema however noted that it recorded growth across all product categories.