Galenica Group half-year results 2018

The Galenica Group posted solid growth in the first half of 2018, in what continued to be a very challenging market environment. Consolidated net sales increased by 0.9% to CHF 1,566.1 million. Sales growth was slowed by additional price reduction measures for medications, which were significantly higher than originally announced by the authorities.

Excluding the one-off effects from the prior-year period and the effects of IAS 19, EBIT rose by 7.5%, and return on sales (ROS) improved from 4.5% to 4.8%. Taking into account one-off effects, earnings before interest and taxes (EBIT) declined by 2.0% to CHF 70.1 million, and excluding the effects of IAS 19 by 2.3% to CHF 74.9 million.

Excluding the one-off effects from 2017 and the effects of IAS 19, net profit increased by 8.2%. Taking into account one-off effects, net profit declined by 2.4% to CHF 56.5 million, and excluding the effects of IAS 19 by 2.7% to CHF 60.4 million.

^{1) Sales figures for the prior-year period have been restated in line with the new IFRS 15 accounting standards, which came into effect on 1 January 2018.
2) Excluding the effects of IAS 19
3) Including one-off effects of CHF 7.0 million
4) Including one-off effects of CHF 6.3 million}