Publication of half-year report 2018 and impact of IFRS 15
The Galenica Group half-year report 2018 will be published on 7 August 2018, with a conference call for analysts and investors scheduled for that afternoon (14h00 CET).
As already detailed in the annual report 2017, the new IFRS 15 accounting standard results in a net presentation of certain elements in revenue (net sales), other income, cost of goods and other operating costs.
Galenica expects that as a result of the new presentation, net sales will decrease by approximately CHF 65 to 80 million and other income by approximately CHF 25 to 35 million with compensating effects in cost of goods and other operating costs.
Galenica does not expect the reclassifications to have an impact on EBITDA, EBIT or net profit. The prior-year figures will be adjusted to reflect the amendments of the new accounting standard. These amendments should have no material impact on the sales growth.