2020 annual results of the Galenica Group: Galenica successfully manages the challenges posed by 2020 and sets course for the future. Dienstag, 09. März 2021 - 06:36
Tuesday, 9 March 2021
Galenica successfully manages the challenges posed by 2020 and sets course for the future.
The Galenica Group achieved strong sales growth of +5.4% in 2020 and defied the challenging environment to post a stable operating result, adjusted1) EBIT of CHF 168.6 million, +1.0% compared to the previous year.
COVID-19 negatively impacted operating profit (EBIT) by an estimated CHF 8 million to 10 million overall, particularly with sales declines in pharmacies in high-frequency locations and lower sales of cold and flu medicines and travel-related products. These losses were more than offset by positive factors such as market share gains in the Services segment, a three-fold increase in online sales and the successful expansion of the pharmacy network and product portfolio.
Due to an accounting profit related to IAS 19 in the amount of CHF 43.0 million, mainly attributable to the adjustment of conversion rates in the Galenica Pension Fund, reported EBIT increased by 25.9% to CHF 213.3 million (previous year: CHF 169.5 million).
Net profit was up 37.8% year-on-year to CHF 172.7 million, influenced heavily by the aforementioned IAS 19 gain. On a comparable basis, adjusted1) net profit amounted to CHF 138.0 million (+2.8%).
Accordingly, the Board of Directors of the Galenica Group will propose to the Annual General Meeting on 12 May 2021 a dividend on the same level as previous year of CHF 1.80 per share.
(in CHF million) | 2020 | 2019 | Change |
|---|---|---|---|
Net sales | |||
Health & Beauty segment | 1,671.4 | 1'620.8 | +3.1% |
Services segment | 2,631.7 | 2'441.0 | +7.8% |
Corporate and eliminations | (823.3) | (760.8) | |
Galenica Group | 3,479.8 | 3'301.0 | +5.4% |
EBIT adjustiert1) | |||
Health & Beauty segment1) | 123.9 | 123.7 | +0.2% |
Services segment1) | 45.4 | 44.7 | +1.6% |
Corporate and eliminations | (0.7) | (1.5) | |
Galenica Group1) | 168.6 | 166.9 | +1.0% |
Comparable net profit2) | 138.0 | 134.2 | +2.8% |
1) Excluding the effects of IFRS 16 and IAS 19 (details of the adjusted key figures from page 86 onwards in the full version of the Annual report 2020)
2) Adjusted net profit, excluding the effects of IFRS 16 and IAS 19 (details of the adjusted key figures from page 86 onwards in the full version of the Annual report 2020); in 2019, additional adjustment for the one-time effect resulting from the change to provisions for deferred taxes of CHF –8.4 million due to the Swiss tax reform (STAF)
- Sales guidance exceeded – stable earnings outlookThursday, 21 January 2021
- Galenica prepares for the futureTuesday, 1 December 2020
- 2020 half year results of the Galenica GroupTuesday, 4 August 2020
Galenica Ltd.
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