Annual results of the Galenica Group 2017
Tuesday, 13 March 2018
Galenica 2017: IPO promises met Sales outperformed market – result improved significantly – balance sheet strengthened
With the publication of the first annual results following the initial public offering (IPO) of 7 April 2017, the Galenica Group has kept its promises and achieved the ambitious objectives for 2017 in a challenging market environment: sales grew significantly faster than the market, profitability was increased and the balance sheet strengthened.
The Board of Directors of the Galenica Group will propose a dividend of CHF 1.65 per share to the Annual General Meeting on 9 May 2018. As planned, this corresponds to an expected dividend pay-out of CHF 80.9 million.
Pleasing performance in 2017
The operating result (EBIT) rose by 14.5% to CHF 141.8 million and, on a comparable basis (excluding the effects of IAS 19), grew by 10.5% to CHF 148.2 million. Included in this are one-off effects of CHF 7.0 million.
Galenica posted a net profit of CHF 118.9 million. On a comparable basis (excluding the effects of IAS 19), net profit was CHF 124.4 million. The net profit includes one-off effects of CHF 10.6 million.
Key figures for the Galenica Group, 2017
(in million CHF)
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Net profit adjusted2) 3)
1) In view of the IPO on 7 April 2017, the Business unit Galenica Santé of the former Galenica Group restated the financials as of 2014 as if the unit had been a standalone entity (combined financial statements 2014–2016). These combined financial statements form the basis for comparison with the figures for the previous year.
2) Excluding the effects of IAS 19
3) Not comparable with the previous year due to the different financing structure
With further drug price reductions, ongoing shopping tourism and generally stagnant development in Swiss retail, the Swiss healthcare market continues to be characterised by challenges. Nonetheless, the management of Galenica has also set ambitious objectives for 2018: Galenica is aiming for sales growth of 2% to 3% and an EBIT (excluding the effects of IAS 19) similar to that in 2017. Excluding the one-off effects of CHF 7.0 million in 2017, this corresponds to an operational increase of around 5%. Galenica also intends to propose a dividend at least at prior-year level to the 2019 Annual General Meeting.
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