DGAP-News: Celesio AG: Celesio is confident about the 2013 financial year, despite a weaker first quarter
(firmenpresse) - DGAP-News: Celesio AG / Key word(s): Quarter Results
Celesio AG: Celesio is confident about the 2013 financial year,
despite a weaker first quarter
14.05.2013 / 07:00
---------------------------------------------------------------------
Celesio is confident about the 2013 financial year, despite a weaker first
quarter
* Group EBIT below prior-year level, as expected - burdened by competition
and governmental measures
* Strategic growth initiatives on schedule
* Outlook for the full year 2013 confirmed
Stuttgart, 14 May 2013. In the first quarter of 2013, Celesio's earnings
were down year-on-year, largely attributable to the continuing intense
discount competition in German pharmaceutical wholesale. Group sales fell
by five per cent to 5,361.6 million euro. Operating earnings (EBITDA)
amounted to 126.6 million euro. This corresponds to a decline of 10.4%
compared to adjusted earnings in the prior-year period and a decline of
9.4% compared to the unadjusted figure. EBIT amounted to 95.1 million
euro. Compared to the prior-year EBIT adjusted for extraordinary effects
this corresponds to a reduction by 12.1%, on an unadjusted basis EBIT
dropped by 10.7%. The earnings development was also burdened by the
integration of Panpharma in Brazil. Government measures in France, which
had still been offset in the previous year, now showed a full effect on
earnings.
Celesio CEO Markus Pinger: 'As expected, the first quarter of financial
year 2013 was weaker than the prior-year period. We anticipate a stronger
second quarter. We are making very good progress with our realignment of
Celesio and will systematically continue our strategic initiatives. We are
on the right path and confirm our outlook for the current financial year.'
Celesio's strategic realignment is fully running to schedule. On 30 April
2013, the Irish antitrust authorities gave their full and unconditional
approval for Uniphar plc.'s acquisition of pharmaceutical wholesaler Cahill
May Roberts Ltd., which had been agreed last year. The transaction is
expected to be closed in the second quarter of 2013. With this deal,
Celesio's divestment programme has been successfully completed.
'Piloting our new Lloyds Pharmacy Network will be at the core of our
activities this year. We are very happy about our customers' highly
positive reactions and will increase the number of own pilot pharmacies
from currently five to up to 95 in Great Britain, Italy, Ireland, Sweden,
Belgium and Norway. We are launching the Lloyds Pharmacy Network across
Europe under this brand name and continue to work towards market maturity
of our innovative concept,' Markus Pinger states.
Performance in the divisions
In the Consumer Solutions division, the pharmacy business, operating
earnings (EBITDA) fell compared to EBITDA adjusted for extraordinary
effects in the prior-year period by 0.9% (unadjusted: +1.8%) to 62.6
million euro. EBIT of 47.8 million euro was down by 1.4 % on the prior-year
period (unadjusted: +2.1%).
In the British pharmacy market, which is the most important pharmacy market
for Celesio, Lloydspharmacy showed a positive operational development in
the first quarter of 2013. This was driven by the new Group structure and
the Operational Excellence Programme. However, government measures in the
UK as well as the weak British pound had a negative effect on
Lloydspharmacy's earnings development. The business in Italy showed a
positive development. In Sweden, the restructuring process implemented in
2012 brought positive momentum.
In the Pharmacy Solutions division, the wholesale business, EBITDA fell by
19.1% to 83.2 million euro in the reporting quarter. EBIT of 69.7 million
euro was 20.0% below the prior-year level. The adjusted figures are on par
with the unadjusted amounts.
The decline was mainly due to the strong discount competition in Germany.
In addition, the reduction was also down due to the integration of
Brazilian Panpharma. Countermeasures introduced by Panpharma, which had
already been initiated at the end of 2012, are likely to take effect from
the second half of the year. Oncoprod in Brazil as well as the
pharmaceutical wholesaler AAH in Britain showed a strong performance.
Earnings forecast 2013
For Celesio, 2013 will be all about realignment, building on the successful
stabilisation of earnings in the 2012 fiscal year and forming a basis for
profitable growth from 2014 onwards. As a result, management still expects
Celesio to generate an adjusted EBIT of between 445 million euro and 475
million euro in the 2013 fiscal year and, accordingly, an adjusted EBITDA
of between 580 million euro and 610 million euro.
Key figures of the Celesio Group
1st quarter 1st quarter
2012 2013
Continuing
operations
Revenue EUR m 5,642.8 5,361.6
EBITDA EUR m 139.8 126.6
adjusted 1) EUR m 141.4 126.6
EBIT EUR m 106.6 95.1
adjusted 1) EUR m 108.2 95.1
Profit before tax EUR m 72.4 63.9
adjusted 1) 2) EUR m 79.7 63.9
Retail pharmacies 3) 2,274 2,178
Wholesale
branches 3) 141 136
Discontinued
operations
Net profit/loss EUR m -48.5 -0.3
Continuing and
discontinued
operations
Employees 4) 45,514 38,650
Net profit/loss EUR m -4.5 41.4
Change
on a
euro basis
%
Revenue EUR m -5.0
EBITDA EUR m -9.4
adjusted 1) EUR m -10.4
EBIT EUR m -10.7
adjusted 1) EUR m -12.1
Profit before tax EUR m -11.7
adjusted 1) 2) EUR m -19.8
Discontinued
operations
Net profit/loss EUR m 99.2
Continuing and
discontinued
operations
Net profit/loss EUR m ---
1) Adjusted for non-recurring effects (including tax effect) primarily in
connection with the Operational Excellence Program.
2) Adjusted for special effects in the financial result.
3) Closing figures as of 31. December 2012.
4) Closing figures at the end of the reporting period.
Press contact
Dr Jens Schreiber, Celesio AG, +49 (0)711.5001-380
media(at)celesio.com
Rainer Berghausen, Celesio AG, +49 (0)711.5001-549
media(at)celesio.com
About Celesio Group
As a leading international trading company and provider of logistics and
services in the pharmaceutical and healthcare sector, Celesio takes a
proactive and preventive approach to ensuring that patients receive the
products and support that they require for optimum care. With 39,000
employees, we operate in 16 countries around the world. Every day, we serve
over 2 million customers - at 2,200 pharmacies of our own and 4,100
participants in our brand partnership schemes. With around 140 wholesale
branches, we supply approximately 65,000 pharmacies and hospitals every day
with up to 130,000 pharmaceutical products. Our services benefit a patient
pool of about 15 million per day.
End of Corporate News
---------------------------------------------------------------------
14.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's 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(at)celesio.com
Internet: www.celesio.com
ISIN: DE000CLS1001
WKN: CLS100
Indices: MDAX
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), München, Stuttgart; Freiverkehr in Hamburg,
Hannover; Terminbörse EUREX
End of News DGAP News-Service
---------------------------------------------------------------------
210859 14.05.2013
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 14.05.2013 - 07:00 Uhr
Sprache: Deutsch
News-ID 259426
Anzahl Zeichen: 15341
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 173 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Celesio AG: Celesio is confident about the 2013 financial year, despite a weaker first quarter"
steht unter der journalistisch-redaktionellen Verantwortung von
Celesio AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
