Profits up for the 17th consecutive year in 2012:
+13.6% after minority interests
Tuesday, 12 March 2013, ↓ directly to download
The Galenica Group recorded profit growth for the 17th consecutive year in 2012: consolidated net profit rose 13.6% to CHF 253.5 million after minority interests and 7.5% to CHF 274.8 million before minority interests. Shareholders’ equity continued to rise to CHF 1,377.9 million (+14.6%), increasing the equity ratio to 43.8%, while net debt fell by 19.9% to
CHF 567.5 million. Currency effects played a minor role in 2012 in comparison with the prior year, even if the negative impact of the strong Swiss franc continued.
Galenica continued to make significant investments in research & development in the Pharma business sector, focusing on clinical studies with Ferinject® and support for the registration of PA21. The first approval dossier was submitted to the European Medicines Agency (EMA) at the end of 2012, while the dossiers for Singapore, the USA and Switzerland followed by the end of February 2013. Other highlights included strong growth in international sales of Ferinject® (+48.4%) with growth in all countries.
In a context of continuing price pressure, activities in Switzerland progressed remarkably well. The new technologies at the logistics centre in Niederbipp are showing their full effect. Having been introduced at just the right time, these measures will now make it possible to offset the impact of price and margin cuts imposed by the Swiss federal government. Thanks to continuing optimisation of the pharmacy network, Retail achieved an impressive increase not only in sales but also in its operating result. Despite the expected decline in sales, HealthCare Information also contributed to the Group’s positive result.
EBIT, EBITDA and consolidated net profit of the Galenica Group (in million CHF)
Other and Eliminations
_Shareholders of Galenica Ltd.
Galenica increased its consolidated net sales by 3.4% to CHF 3,294.3 million in 2012. Earnings before interest, taxes, depreciation and amortisation (EBITDA) were up 6.6% to CHF 425.7 million, while earnings before interest and taxes (EBIT) rose by 6.9% CHF 349.6 million. Consolidated net profit increased by 7.5% to CHF 274.8 million before minority interests and by 13.6% to CHF 253.5 million after minority interests.
Galenica invested CHF 138.9 million (+6.5%) in research & development in the year under review, in addition to its expenditure on the formation of a network of affiliates in Europe. Galenica again devoted about CHF 250 million to measures aimed at preparing for the future and invested altogether CHF 53.5 million (-11.4%) in tangible and intangible assets.
Shareholders’ equity continued to rise to CHF 1,377.9 million (+14.6%), increasing the equity ratio to 43.8%. Net debt fell by 19.9% to CHF 567.5 million, with gearing again declining significantly from 59% to 41%.
At the Annual General Meeting on 2 May 2013, the Board of Directors will recommend a dividend increase of 22% to CHF 11.00 per registered share. In addition, the election of a new member of the Board of Directors, namely
Dr. Sylvie Grégoire, resident in Paris, for a term of office of three years, will be proposed to the Annual General Meeting.
Outlook for 2013: profit target at least on a par with last year
Galenica will continue to focus on strategic key projects in 2013, including launching Ferinject® in further countries and promoting awareness of iron deficiency and its appropriate treatments. In addition, the FDA’s decision regarding the registration of Injectafer® is expected in the USA. Joint preparations with Fresenius Medical Care for the market launch of the novel phosphate binder PA21 in the USA and Europe are in full swing. Ongoing efficiency improvement projects will continue to be implemented in the Logistics, Retail and HealthCare Information business sectors, and at the same time, the companies aim to create added value for their customers, strengthening customer loyalty with new services and products.
Galenica management has set itself the target of achieving at least the same level of profit in 2013 as in the previous year.
Galenica is a diversified Group active throughout the healthcare market which, among other activities, develops, manufactures and markets pharmaceutical products, runs pharmacies, provides logistical and database services and sets up networks. With its two Business units Vifor Pharma and Galenica Santé, the Galenica Group enjoys a leading position in all its core business activities. A large part of the Group’s income is generated by international operations. Galenica is listed on the Swiss Stock Exchange (SIX Swiss Exchange, GALN, security number 1,553,646).
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Head of Corporate Communications