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Strong Dynamic Growth for Gehe

Added: (Thu Nov 16 2000)

Pressbox (Press Release) - GEHE - Strong dynamic growth in 1st - 3rd quarter 2000
Profit growth in pharmaceutical distribution: Up 13.6%
Acquisitions in retail strengthen results

16 November 2000, Stuttgart - Europe’s leading pharmaceutical distributor, GEHE, achieved strong dynamic growth in both turnover and profit before taxes in the 1st - 3rd quarter of the year.

In pharmaceutical distribution, GEHE achieved a total turnover of Euro 11.4bn. This corresponds to an increase of 13.2% over the same period last year. In wholesale, a turnover of Euro 10.2bn was achieved, which represents a 13.0% increase compared to the previous year. With a turnover in retail of Euro 1.2bn, a strong growth of 14.4% over the previous year was achieved

The profit before taxes in wholesale and retail rose 13.6% compared with the previous year to Euro 188.8m. GEHE achieved a profit before taxes in wholesale of Euro 162.4m (+12.3%). In retail, the profit before taxes increased by 22% over the previous year to Euro 26.4m.

The EBITDA (Earnings before Interest, Taxes, Depreciation and Amortisation) in pharmaceutical distribution increased to Euro 332.5m which corresponds to a rise of 16.4%.

The number of users of GEHE’s business-to-business e-commerce solutions has almost doubled in comparison with the previous year. Around 6,500 pharmacists today use the business-to-business-platform “Point” and the business-to-consumer platform for pharmacies “apotheke.com”.
Besides the acquisition of Herba Chemosan in Austria, our retail acquisitions in Italy and the Czech Republic also helped to strengthen our results in the respective countries. Through the successful integration of these companies into the GEHE group network, synergies, particularly in purchasing, logistics, marketing and administration, can be realised.

Following the continued dynamic performance up to the end of the 3rd quarter 2000, we anticipate a growth in turnover of approx 10% for the financial year 2000. On this basis, we are aiming for a rise in profit of over 10% for the whole of the year 2000. The reduction in the prices of generic drugs, introduced by the Ministry of Health in Great Britain in the 3rd quarter 2000, contributes substantially to this slight slow down of the dynamic growth.

A aummary table of figures is available from Elisabeth Lewis Jones at the address below

Enquiries:
Dr Fritz Oesterle
+49/(0)711 5001-439

Stefan Meister
+49/(0)711 5001-404

Elisabeth Lewis-Jones at Willoughby Public Relations, 36-37 Cox Street, St Paul’s Square, Birmingham, B3 1RD
Tel: 0121 233 1130
Fax: 0121 233 1181

The exchange rate is £1 sterling = Euro 1.6329

You will find further information on GEHE AG at www.gehe.de

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