Galenica raises sales and EBIT guidance for 2021
Tuesday, 1 June 2021
Positive sales growth and product acquisitions: Galenica raises sales and EBIT guidance 2021
After a difficult first quarter of 2021, Galenica’s business developed extremely dynamically compared to the previous year’s lockdown period. As at the end of April 2021, consolidated net sales grew by pleasing 4.8%. Various offers to combat the COVID-19 pandemic also contributed to this result.
Furthermore, Verfora acquired the range of pharmaceutical products from Dr. Wild & Co. Ltd. end of May 2021, which includes well-known brands such as Vitamin D3 Wild Oil® and VI–DE 3®. In doing so, Verfora has secured rights to strong brands and high-potential marketing authorisations, thereby further expanding its leading position in the Swiss consumer healthcare market (CHC).
Galenica expects a continuing positive business impact of the various offers to combat the COVID-19 pandemic, albeit to a much lesser extent than in April 2021. These additional one-off sales combined with Verfora’s product acquisitions have enabled Galenica to raise its guidance for both net sales and EBIT for the financial year 2021:
Galenica now expects net sales growth of between 3% and 5% (previously: 1% to 3%) for the financial year 2021 as a whole as well as growth in the adjusted operating result (EBIT, excluding the effects of IFRS 16 and IAS 19) of between 5% and 8% (previously: 2% to 5%).