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 2022

in thousand CHF	As reported	Adjustments IAS 19	Adjustments IFRS 16	Adjusted
Net sales	4,014,348	–	–	4,014,348
Products & Care 1)	2,029,620	–	–	2,029,620
Logistics & IT 1)	2,933,318	–	–	2,933,318

Other income	13,040	–	–	13,040
Operating income	4,027,388	–	–	4,027,388

Cost of goods	–3,008,302	–	–	–3,008,302
Personnel costs	–538,353	617	–	–537,736
Other operating costs	–181,151	–	–54,494	–235,645
Share of profit from associates and joint ventures	4,202	22	–50	4,173
Earnings before interest, taxes, depreciation and amortisation (EBITDA)	303,784	639	–54,545	249,879
Products & Care 1)	223,288	–	–50,871	172,417
Logistics & IT 1)	80,518	–	–2,469	78,049

Depreciation, amortisation and impairment	–100,474	–	51,407	–49,067
Earnings before interest and taxes (EBIT)	203,310	639	–3,138	200,812
Return on sales (ROS) 2)	5.1%	0.0%	–0.1%	5.0%
Products & Care 1)	156,273	–	–2,752	153,521
Return on sales (ROS) 2)	7.7%	0.0%	–0.1%	7.6%
Logistics & IT 1)	49,306	–	–60	49,246
Return on sales (ROS) 2)	1.7%	0.0%	0.0%	1.7%

Net financial expenses	–3,685	–224	2,455	–1,453
Earnings before taxes (EBT)	199,626	415	–683	199,358

Income taxes	–33,767	–33	126	–33,674

Net profit	165,859	383	–557	165,684

Attributable to:
– Shareholders of Galenica Ltd.	165,132	383	–558	164,956
– Non-controlling interests	727	–	1	728

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	3.32	0.01	–0.01	3.32
Diluted earnings per share	3.32	0.01	–0.01	3.32

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, amortisation and impairment	–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