Phoenix Group, the European pharmaceutical wholesale and pharmacy retail giant, has begun its anniversary year with a solid increase in revenue and earnings despite a “persistently challenging environment”.
The German-based company, which owns the Rowlands Pharmacy chain in the UK, saw its total revenue increase by 29.6% to €47.1bn in the year to 31 January 2024, with all regions achieving growth. Of this revenue, 25.0% was attributable to the McKesson operation it acquired in October 2022.
Overall EBITDA declined from €1.0bn to €933.1m. However, adjusted for one-off effects, the figure rose 30.8% to €946.9m. Profit before tax increased from €287.0m to €344.3m
“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,” said CEO Sven Seidel.
“Phoenix group will continue to reliably fulfil its important mission for the next 30 years and will remain dedicated to healthcare in Europe.”
For its current fiscal year, the group expects to further expand its market position in Europe through organic growth and acquisitions. The healthcare provider stated that it expects revenue growth in almost all the 29 markets in which the company is present. Meanwhile, it is forecasting a “moderate” increase in profit before tax.
NAM Implications:
- The key for suppliers is the extent to which they have secured their fair share of sales and investment so far.
- And especially their ability to continue with a fair share going forward on these projections…
