Adjusted consolidated statement of income

Galenica's consolidated statement of income adjusted by IAS 19 effects related to employee benefits (defined benefit plans and long-service awards) and IFRS 16 lease effects allowing financial results to be assessed on a comparable basis.

Adjusted consolidated statement of income 2021

in thousand CHF	As reported	Adjustments IAS 19	Adjustments IFRS 16	Adjusted
Net sales	3,834,679	–	–	3,834,679
Products & Care 1)	1,908,130	–	–	1,908,130
Logistics & IT 1)	2,831,358	–	–	2,831,358

Other income	21,082	–	593	21,675
Operating income	3,855,761	–	593	3,856,354

Cost of goods	–2,873,589	–	–	–2,873,589
Personnel costs	–518,859	7,331	–	–511,528
Other operating costs	–164,240	–	–51,775	–216,014
Share of profit from associates and joint ventures	6,765	288	61	7,114
Earnings before interest, taxes, depreciation and amortisation (EBITDA)	305,838	7,620	–51,121	262,337
Products & Care 1)	225,106	–	–49,212	175,895
Logistics & IT 1)	90,959	–	–1,909	89,050

Depreciation and amortisation	–98,430	–	49,224	–49,205
Earnings before interest and taxes (EBIT)	207,408	7,620	–1,896	213,131
Return on sales (ROS) 2)	5.4%	0.2%	0.0%	5.6%
Products & Care 1)	156,943	–	–2,469	154,474
Return on sales (ROS) 2)	8.2%	0.0%	–0.1%	8.1%
Logistics & IT 1)	60,489	–	538	61,028
Return on sales (ROS) 2)	2.1%	0.0%	0.0%	2.2%

Net financial expenses	–4,375	18	2,298	–2,059
Earnings before taxes (EBT)	203,033	7,638	402	211,073

Income taxes	–34,850	–1,302	–106	–36,258

Net profit	168,183	6,336	296	174,814

Attributable to:
– Shareholders of Galenica Ltd.	167,680	6,277	284	174,241
– Non-controlling interests	503	59	12	574

1) Reported for each operating segment not taking into account Group Services and Eliminations

2) Calculated as EBIT divided by net sales

in CHF	As reported	Adjustments IAS 19	Adjustments IFRS 16	Adjusted
Earnings per share	3.38	0.13	0.01	3.52
Diluted earnings per share	3.38	0.13	0.01	3.51

Adjusted consolidated statement of income 2020

in thousand CHF	As reported	Adjustments IAS 19	Adjustments IFRS 16	Adjusted
Net sales	3,479,753	–	–	3,479,753
Products & Care 1)	1,683,136	–	–	1,683,136
Logistics & IT 1)	2,625,117	–	–	2,625,117

Other income	15,053	–	–	15,053
Operating income	3,494,806	–	–	3,494,806

Cost of goods	–2,599,093	–	–	–2,599,093
Personnel costs	–442,910	–41,621	–	–484,531
Other operating costs	–147,804	–	–52,886	–200,690
Share of profit from associates and joint ventures	4,486	–1,363	–7	3,115
Earnings before interest, taxes, depreciation and amortisation (EBITDA)	309,484	–42,985	–52,893	213,606
Products & Care 1)	198,216	–	–50,720	147,497
Logistics & IT 1)	69,304	–	–2,174	67,131

Depreciation and amortisation	–96,157	–	51,107	–45,051
Earnings before interest and taxes (EBIT)	213,327	–42,985	–1,787	168,556
Return on sales (ROS) 2)	6.1%	–1.2%	–0.1%	4.8%
Products & Care 1)	125,927	–	–1,743	124,184
Return on sales (ROS) 2)	7.5%	0.0%	–0.1%	7.4%
Logistics & IT 1)	45,193	–	–43	45,150
Return on sales (ROS) 2)	1.7%	0.0%	0.0%	1.7%

Net financial expenses	–4,734	49	2,321	–2,364
Earnings before taxes (EBT)	208,593	–42,936	534	166,191

Income taxes	–35,875	7,670	–37	–28,241

Net profit	172,718	–35,266	497	137,950

Attributable to:
– Shareholders of Galenica Ltd.	172,245	–35,272	498	137,471
– Non-controlling interests	474	6	–	480

1) Reported for each operating segment not taking into account Group Services and Eliminations

2) Calculated as EBIT divided by net sales

in CHF	As reported	Adjustments IAS 19	Adjustments IFRS 16	Adjusted
Earnings per share	3.48	–0.71	0.01	2.78
Diluted earnings per share	3.48	–0.71	0.01	2.78