Strong revenue growth and higher EBITDA – Pelion's financial results for H1 2016
Pelion S.A. has released its financial results for the first half of 2016. Consolidated revenue was PLN 4.6bn, up by 9.6% on the same period of the previous year. EBITDA adjusted for one-offs grew by 12.2% year on year, to PLN 76.3m, with EBITDA margin at the last year’s level.
The strong revenue growth was driven by consistent implementation of a sales growth strategy across all business lines.
Retail sales were up by 14% year on year. In the case of pharmacies, the increase was chiefly attributable to an effective pricing policy, addition of quality proprietary brands to existing product categories, and professional pharmaceutical care. Through these efforts, DOZ Apteki Dbam o Zdrowie pharmacies enjoy the trust of millions of Poles, to whom they provide guaranteed access to affordable medicines. On the other hand, the Natura beauty store chain introduced new services to better meet customer needs and expectations, and continued with the development of proprietary and exclusive brands based on private label arrangements with Polish manufacturers.
Wholesale was up by 7.8% on the first half of 2015, mainly thanks to enhanced process efficiency and service for pharmacies. Cooperating with about 850 manufacturers and more than 10 thousand pharmacies across Poland, Polska Grupa Farmaceutyczna is able to offer the widest product mix on the market.
PGF Urtica, a leader of the Polish market of drug supplies to hospitals, also consistently extended its activities. At the beginning of August, the company launched a modern centre for drug distribution to in-patient institutions. The PLN 30m project, located in Łódź, is the largest warehouse of this kind in Poland that will provide as many as 250 jobs. From the warehouse, drugs will be distributed to hospital pharmacies, to reach about a third of all
in-patients.
Pelion’s objective is to strengthen its position in all areas spanned by its business, while delivering innovative solutions to ensure the best quality of treatment and meet the growing needs of patients.
The table below presents the H1 2016 financial highlights, along with comparative year-on-year data:
| H1 2016 | H1 2015 | Change* | |
| Revenue (PLNm) | 4,628.8 | 4,221.9 | +9.6% |
| Gross profit (PLNm) | 531.8 | 493.7 | +7.7% |
| Gross margin | 11.5% | 11.7% | -0.2pp |
| EBITDA factoring out the one-off (PLNm) | 76.3 | 68.0 | +12.2% |
| EBITDA margin factoring out the one-off | 1.6% | 1.6% | -0.0pp |
| Net profit attributable to owners of the parent (PLNm) | 20.8 | 18.9 | +10.1% |
| Net margin | 0.4% | 0.4% | -0.0pp |
* Change calculated based on figures in PLN ‘000
For further information, please contact:
Pelion S.A. Press Office
Phone: (+48 42) 200 75 94
Fax: (+48 42) 200 75 35
Email: biuro_prasowe@pelion.eu
Pelion S.A. has operated on the market for twenty-six years, starting out as a local pharmaceutical wholesaler. In 1998, the Company shares were floated on the Warsaw Stock Exchange. Proceeds from the initial public offering fuelled the Company’s dynamic growth and allowed it to embark on consolidation of the pharmaceutical wholesale market. Today, Pelion Healthcare Group is one of the largest groups operating in the healthcare markets in Poland and Lithuania. It provides services across all market segments (wholesale, retail sales and sales to hospitals), targeted at individual patients, pharmacies, hospitals, and manufacturers. As a holding company, Pelion S.A. oversees all areas of the Company’s operations, which are conducted by PGF S.A. and Pharmapoint S.A. (wholesale), CEPD N.V. (retail) and PGF Urtica Sp. z o.o. and Pharmalink Sp. z o.o. (hospital supplies and logistics services).
