Germany’s Phoenix reports steady growth

Germany’s Phoenix reports steady growth

21 December 2020 - Deborah Wilkes

Germany’s Phoenix reported revenue up by 4.4% to EUR21.0 billion (USD25.7 billion) in the nine months ended 31 October 2020.

The wholesaler and retailer said the COVID-19 pandemic had led to increased demand for medicines in March 2020 followed by declining sales in April and May.

After adjusting for currency translations, the rise was 6.2% compared to the same period a year earlier.

Phoenix said its total operating performance – comprising revenue plus handling for service fee – had improved by 3.8% to EUR26.7 billion. Adjusted for currency translations, the rise was 5.3%.

Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) rose by 9.9% to EUR475 million. Adjusted EBITDA increased by 9.5% to EUR483 million.

The company’s retail business operates more than 2,700 of its own pharmacies in 14 countries. Around 1,400 of these operate under the BENU brand.

The pharmaceutical wholesale business has 161 distribution centres in 27 European countries.

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