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We create added value for the healthcare system (GRI 2-22)

Dear Shareholders, Ladies and Gentlemen,

Dr Markus R. Neuhaus, Chair of the Board of Directors, und Marc Werner, CEO

The 2023 financial year was characterised by opportunities, changes and challenges. At 4.4%, we once again achieved strong growth and further developed Galenica. Due to special effects, however, we were unable to fully meet our ambitious earnings targets. Nevertheless, with EBIT on a par with the previous year, we achieved a good result and are pleased to be able to propose a stable dividend of CHF 2.20 per share. We have compiled a detailed operational review of the 2023 financial year for you in the Management Report.

At the beginning of the year, we embedded our network philosophy even more strongly in our strategy. The Galenica network consists of our Business Units, which work closely together, create common platforms and thus lay the foundation for a continued successful future. With our new logo and branding for the Galenica network, we have created a strong symbol of our company’s performance. We offer patients and customers even more closely interconnected and integrated solutions from a single source with our products and services and can meet their needs, both today and tomorrow, in a more seamless, efficient and, above all, personal way.

“The expanded healthcare services in our pharmacies not only meet customer needs, they also help to curb the increasing cost pressure in the healthcare sector.”

Added value for our customers – offline and online

Last year, we further expanded the range of advice and healthcare services in our pharmacies and further improved the customer experience in bricks-and-mortar pharmacies with new store design and advisory concepts. The impressive figures show that the healthcare services provided by our competent employees are very popular: 14% more consultations were held – around 138,000 in 2023. Demand for vaccination services in pharmacies is also high. A total of 44,000 vaccine doses were administered in 2023, mainly against influenza and TBE, an increase of 18% (excluding COVID-19 vaccinations). These low-threshold offers not only meet customer needs, but also help to curb the increasing cost pressure in the healthcare sector. This is also recognised by other service providers in the healthcare system – in 2023, for example, additional health insurers added pharmacy services to their supplementary models and are offering reimbursement for them.

“We will continuously develop the online shops into information centres.”

We not only made further progress offline in 2023, but also online. For example, we launched the beta version of the Amavita web shop, which is based on a new technology. True to our omni-channel strategy, the online presence complements bricks-and-mortar points of sale and, above all, serves as a digital gateway to the Galenica network. We will continuously develop the online shops into information centres and strengthen our position as providers of competent and reliable content on health topics. This allows customers to obtain information digitally and to be directed to the right place, such as the nearby Amavita bricks-and-mortar pharmacy, as needed. We were also able to launch new digital offerings that provide our customers added value through ease of use, such as the digital Prescription Manager.

“In a joint venture with Redcare Pharmacy, we have created the leading online pharmacy in Switzerland.”

Strong partnerships create a broader offering and greater efficiency

To provide our customers with the best possible online offering, we established a joint venture with Redcare Pharmacy (formerly Shop Apotheke Europe) in spring 2023. As part of this joint venture, we have merged the business activities of Mediservice and, creating Switzerland’s leading online pharmacy. With Redcare Pharmacy, we have teamed up with a strong international partner, enabling us to build up a comprehensive, online-only offer.

In the logistics area, we were also able to take another major step towards efficiency and sustainability in 2023. Together with Planzer, we established the joint venture Health Supply, which will in future bundle all transport services already provided by Planzer and other transport service providers on behalf of the Galenica Group. This will allow us to reduce the complexity that has arisen so far from working with various transport service providers and prepare for future challenges in the local distribution of medications.

Strong partnerships create a broader offering and greater efficiency

We were also able to expand our offerings in the home care sector in 2023. For economic reasons alone, service providers in the healthcare sector will have to ensure in the coming years that patients are cared for at home for longer or can return home more quickly after a hospital stay. This reduces rising healthcare costs and improves patients’ quality of life in the long term.

Our Home Care Coordination Service, which was set up at the start of 2023, established itself and evolved during the financial year. The current focus is on people with Parkinson’s disease. This service helps patients and their relatives to organise their treatment and to procure products and medical aids. We were able to gain initial positive experiences with established partnerships in 2023: This coordination service is a much appreciated relief for patients, relatives and the caring therapy network. With our investment in Farmadomo Home Care Provider SA, we will also significantly expand our home care offering in Ticino in 2024.

In addition to our services for patients and their relatives, we also offer unique services in the Galenica network for nursing homes and home care organisations. In order to bundle these services even better in the future, we are expanding existing applications and platforms that are already established in home care organisations and nursing homes into a central digital platform for all services in the home care sector. Similar to the new pharmacy online shop, which serves as the digital gateway to the Galenica network for private customers, one platform should also bundle and connect all offerings for healthcare professionals in future.

“Today more than ever, sustainability has become a central pillar of business activity.”

Sustainability as a central pillar of entrepreneurial activity

In 2023, we made significant progress towards achieving our sustainability goals. The use of Clinical Decision Support Checks increased by 145% to an impressive 270 million in the reporting year. This is an important aspect in the area of patient safety, our most relevant ESG topic.

Last year, a photovoltaic system was installed on the roof of our logistics site in Niederbipp, which can cover up to a third of the electricity demand there. This is an important step in achieving our goals of reducing greenhouse gas emissions at our locations and promoting the use of renewable electricity sources. With the joint venture with Planzer, Health Supply, we can also take another step towards sustainable logistics solutions. The joint venture serves as a hub for developing, testing and implementing sustainable transport solutions – such as alternative drive systems for delivery vehicles. Galexis is already currently testing electric drives and biogas engines.

Today more than ever, sustainability has become a central pillar of business activity. In a world of constant change, we take responsibility for our impact on the environment, society and the economy. Our annual report therefore not only reflects our financial performance, but also provides an insight into our activities to shape a more sustainable future. You can read about what we do and the specific successes we have achieved in the individual areas in our GRI report and the report on non-financial matters.

Together we are stronger

For the achievements of the Galenica network in the 2023 financial year, we would first and foremost like to thank all employees who give their best every day for the health and safety of our customers and patients. We would also like to thank you, dear shareholders, for your trust in us. We would also like to thank our partners who share our vision, as well as our customers who entrust us with their health and well-being every day.

Bern, 12 March 2024

Dr Markus R. Neuhaus

Chair of the Board of Directors

Marc Werner


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