McKesson Europe AG
Celesio AG: Celesio announces results for the first quarter of fiscal year 2016
Celesio AG / Key word(s): Quarter Results Celesio announces results for the first quarter of fiscal year 2016 – First Quarter results reflect a solid start to the fiscal year – Outlook for fiscal year 2016 remains unchanged Stuttgart, 30 July 2015. Celesio generated group revenue of 5.3 billion euro and adjusted earnings before interest and tax (EBIT) of 122 million euro reflecting a solid start to the fiscal year. First quarter results were ahead of expectations driven primarily by good performance in Germany and the United Kingdom. Beginning on April 1, 2015, Celesio changed the fiscal reporting period to a March 31 fiscal year. For comparison purposes, fiscal year 2016 results will be compared to the results, as previously reported, for the fiscal year 2014. In the first quarter of fiscal year 2016 (1 April 2015 to 30 June 2015), revenues were up 7.0 per cent as reported and up 3.0 per cent on a constant currency basis compared to the first quarter of fiscal year 2014 (1 January 2014 to 31 March 2014) . Adjusted earnings before interest and taxes (EBIT) increased by 24.8 per cent as reported and 15.0 per cent on a constant currency basis driven by lower discounts in Germany and an improved earnings level in several countries. Performance in the divisions Revenue in the Consumer Solutions division – the pharmacy business – was 1 billion euro in the quarter compared to 866 million euro in the first fiscal quarter of 2014, an increase of 20.5 per cent, as reported and 10.2 per cent on a constant currency basis. Strong performance in the United Kingdom, Norway and Italy contributed to the growth in the quarter. Adjusted EBIT was 67 million euro, compared to 52 million euro in the first quarter of fiscal year 2014, an increase of 28.8 per cent as reported and 17.8 per cent on a constant currency basis driven primarily by the strong performance in the United Kingdom, Norway and Italy. Revenue in the Pharmacy Solutions division – the wholesale business – was 4.3 billion euro in the first quarter compared to 4.1 billion euro in the first quarter of fiscal 2014, an increase of 4.1 per cent as reported and 1.5 per cent on a constant currency basis. The gain of an exclusive distribution contract with a major manufacturer in the United Kingdom and solid growth across most other countries was partially offset by the loss of a hospital contract in Norway. First quarter adjusted EBIT was 68 million euro compared to 66 million euro in the first quarter of fiscal 2014, an increase of 2.3 per cent as reported and – 3.6 per cent on a constant currency basis. Lower discounts in Germany was partially offset by the loss of the hospital contract in Norway and the continued challenging market environment in France. Earnings forecast The first quarter of fiscal year2016 results reflect a solid start to the fiscal year and Celesio remains focused on achieving key priorities in the business. The fiscal 2016 outlook assumes government intervention in several markets and an ongoing challenging market environment in France. Celesio expects to incur costs in fiscal 2016 associated with the integration with McKesson and costs associated with the strategic investments in a common information technology platform across Europe. The outlook for fiscal year 2016 remains unchanged from prior expectation. Therefore, the Management still expects adjusted EBIT for fiscal 2016 to be in line with the adjusted EBIT for the adjusted fiscal 2014 excluding the benefit in fiscal 2014 from the pension in Norway.
1) Adjusted for special effects from defined non-recurring expenses and income (including tax effect). 2) Closing figures at the end of the reporting period. 3) Based on EBITDA of the last twelve months. 4) Previous year figures as reported.
About the Celesio Group 2015-07-30 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | Celesio AG | |
Neckartalstr. 155 | ||
70376 Stuttgart | ||
Germany | ||
Phone: | +49 (0)711 5001-735 | |
Fax: | +49 (0)711 5001-740 | |
E-mail: | investor@celesio.com | |
Internet: | www.celesio.com | |
ISIN: | DE000CLS1001 | |
WKN: | CLS100 | |
Indices: | MDAX | |
Listed: | Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Hamburg, Hanover, Munich (m:access); Terminbörse EUREX | |
End of News | DGAP News-Service |
382183 2015-07-30 |