CHF 4,118.4 million
CHF 489.1 million
CHF 361.5 million
CHF 323.8 million
8,661 (7,107 full-time equivalents)
Preparations for the planned division of the Group continued in 2016. Their performances in 2016 and newly concluded agreements further strengthened both the Vifor Pharma and Galenica Santé Business units. Both are ready to successfully grow as independent companies in the future.
profit growth before deduction of minority interests (excl. Relypsa and IAS 19)
Vifor Pharma exceeded the billion-franc sales mark for the first time in 2016. With the acquisition of the US pharma company Relypsa, a significant investment has been made in intensifying Vifor Pharma’s global business. As a result of the acquisition, Vifor Pharma can now build on a fully integrated commercial organisation in the key US cardio-renal market by leveraging its extensive and growing specialty portfolio.
Galenica Santé grew further thanks to innovations and new customers. All Business sectors contributed to the successful performance, for example with the expansion of the pharmacy network, innovative new offerings and by gaining new customers.
In 2016, the Galenica Group realised consolidated net sales of CHF 4,118.4 million (+8.6 %).
The acquisition of US company Relypsa had a negative impact on the Group’s results, and consequently they declined. Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) fell by 9.0 % to CHF 489.1 million, earnings before interest and taxes (EBIT) by 19.8 % to CHF 361.5 million, and net profit by 12.5 % to CHF 323.8 million before deduction of minority interests, and by 19.1 % to CHF 243.6 million after deduction of minority interests. The acquisition of Relypsa mentioned reduced EBITDA by CHF 103.4 million, EBIT by CHF 129.4 million and net profit before and after deduction of minority interests by CHF 91.6 million.
On a comparable basis, excluding the negative effects due to IAS 19 and the acquisition of Relypsa, EBITDA was up by 11.4 %, EBIT by 10.2 %, net profit before deduction of minority interests by 13.5 % and net profit after deduction of minority interests by 12.9 %. IAS 19 reduced 2016 EBITDA and EBIT by CHF 16.0 million and net profit before and after deduction of minority interests by CHF 13.4 million. The effects of IAS 19 only impacted the consolidated earnings of the Group, and not the earnings of the Business sectors.
Galenica continued to invest in research and development, with CHF 127.1 million (previous year: CHF 88.8 million). Investments in property, plant and equipment and intangible assets totalled CHF 304.6 million (previous year: CHF 368.6 million).
Within the framework of examining different variants as to how the division of the Galenica Group could take place, the focus of the current preparatory work is on the flotation of Galenica Santé by means of an initial public offering (IPO). Galenica continues to anticipate that the division of the Group will be completed by no later than the end of 2017, subject to the economic environment remaining stable.