Remuneration awarded for 2025 and 2024
Remuneration awarded to the Board of Directors for 2025 and 2024
Comments to the remuneration tables of the members of the Board of Directors
In the reporting year, the Board of Directors consisted of seven members. The total remuneration awarded to the Board of Directors (including the Board Chair) for 2025 amounts to CHF 1.6 million and is within the amount of CHF 1.9 million approved at the Annual General Meeting in 2024. It corresponds to an increase of 1.8% compared to the previous year. The remuneration system remained unchanged compared to the previous year.
Remuneration awarded to the CEO and the members of the Corporate Executive Committee for 2025 and 2024
Comments to the remuneration tables of the members of the Corporate Executive Committee
In the reporting year, Marc Werner (CEO), was the member of the Corporate Executive Committee with the highest remuneration.
The remuneration awarded to the CEO and the Corporate Executive Committee for 2025 amounts to CHF 7.0 million and is within the amount of CHF 9.5 million approved at the Annual General Meeting in 2024. It is an increase compared to the previous year, for the following reasons:
- The combined base salaries were higher than in the previous year, primarily due to changes in the composition of the Corporate Executive Committee. In addition, the individual base salaries of the members of the Corporate Executive Committee were increased slightly during the reporting year.
- Galenica Group achieved a good result in 2025. As a result, the short-term bonus payout was 150.5%. Additional details are provided in the section “Performance in 2025” below.
- The LTI grant value increased compared to the previous year. This is due to the changes in composition of the Corporate Executive Committee and the slight increase in the individual base salary. The percentage of awards for individual Corporate Executive Committee members remained unchanged compared to previous year.
- The variable remuneration for 2025 amounted to 130% of the annual base salary for the CEO (previous year: 115%) and 90% of the annual base salary for the other members of the Corporate Executive Committee (previous year: between 44% and 95%).
Performance in 2025
In the reporting year, the Galenica Group generated consolidated net sales of CHF 4,135.6 million. This corresponds to strong growth of 5.5% compared to the previous year.
Adjusted¹ operating profit (EBIT), i.e., excluding the effects of the accounting standards IFRS 16 (leasing), IAS 19 (employee benefits), IFRS 3 (amortisation of acquired intangible assets) and one-off effects, increased by 11.3% to CHF 234.8 million. Adjusted¹ return on sales (ROS) increased year-on-year from 5.4% to 5.7%.
Adjusted¹ net profit increased by 3.0% to CHF 188.7 million (previous year: CHF 183.2 million). Reported net profit was above the previous year's level at CHF 183.9 million (previous year: CHF 183.7 million, +0.1%).
1) See section Alternative performance measures in the Annual Report 2025.
Remuneration of the Board of Directors for 2025 and shareholdings at 31.12.2025
|
|
Remuneration |
Number of shares |
||||
|
Payments in thousand CHF |
Fees in cash |
Equivalent in shares 1) |
Other remuneration 2) |
Total |
Held as at 31.12.2025 3) |
Allocated for 2025 |
|
Markus R. Neuhaus, Chair |
– |
467 |
37 |
504 |
16,300 |
4,963 |
|
Pascale Bruderer 4) |
– |
200 |
21 |
221 |
6,680 |
2,127 |
|
Nadine Balkanyi-Nordmann (since 11 April 2025) |
– |
120 |
13 |
133 |
125 |
1,276 |
|
Bertrand Jungo 4) |
80 |
107 |
22 |
209 |
9,516 |
1,134 |
|
Judith Meier 4) |
– |
160 |
17 |
177 |
5,805 |
1,702 |
|
Solange Peters |
60 |
80 |
17 |
157 |
1,809 |
851 |
|
Jörg Zulauf |
– |
187 |
14 |
201 |
4,921 |
1,985 |
|
Remuneration of the members of the Board of Directors 5) |
140 |
1,320 |
142 |
1,602 |
45,156 |
14,038 |
|
Maximum amount according to AGM resolution |
1,900 |
|
|
|||
1) The amounts include the calculated discount of 25%, granted due to the five-year blocking period
2) Other remuneration corresponds to the social security charges (both employer and employee contributions)
3) Shares held by related parties of members of the Board of Directors are included in the declaration of the totals disclosed above
4) Those board members participate in the pension fund and finance the entire cost themselves
5) See chapter Board of Directors of the Corporate Governance section for roles and membership of committees
Remuneration of the Board of Directors for 2024 and shareholdings at 31.12.2024
|
|
Remuneration |
Number of shares |
||||
|
Payments in thousand CHF |
Fees in cash |
Equivalent in shares 1) |
Other remuneration 2) |
Total |
Held as at 31.12.2024 3) |
Allocated for 2024 |
|
Markus R. Neuhaus, Chair |
175 |
233 |
38 |
446 |
13,181 |
3,119 |
|
Pascale Bruderer 4) |
75 |
100 |
20 |
195 |
5,343 |
1,337 |
|
Bertrand Jungo 4) |
80 |
107 |
21 |
208 |
9,866 |
1,426 |
|
Judith Meier 4) |
– |
160 |
16 |
176 |
3,666 |
2,139 |
|
Solange Peters |
60 |
80 |
16 |
156 |
739 |
1,070 |
|
Andreas Walde (died on 11 December 2024) |
– |
173 |
18 |
191 |
18,750 |
2,317 |
|
Jörg Zulauf |
– |
187 |
14 |
201 |
2,125 |
2,496 |
|
Remuneration of the members of the Board of Directors 5) |
390 |
1,040 |
143 |
1,573 |
53,670 |
13,904 |
|
Maximum amount according to AGM resolution |
1,900 |
|
|
|||
1) The amounts include the calculated discount of 25%, granted due to the five-year blocking period
2) Other remuneration corresponds to the social security charges (both employer and employee contributions)
3) Shares held by related parties of members of the Board of Directors are included in the declaration of the totals disclosed above
4) Those board members participate in the pension fund and finance the entire cost themselves
5) See chapter Board of Directors of the Corporate Governance section for roles and membership of committees
Remuneration of the Corporate Executive Committee for 2025
|
Gross payments in thousand CHF |
Total |
of which Marc Werner, CEO |
|
Base salary |
2,993 |
540 |
|
Short-term bonus in cash (STI) 1) |
1,281 |
277 |
|
Short-term bonus in shares (STI) 2) |
803 |
173 |
|
Long-term incentive (LTI) 3) |
818 |
250 |
|
Contributions to pension funds |
568 |
127 |
|
Other remuneration 4) |
93 |
13 |
|
Remuneration awarded |
6,556 |
1,380 |
|
Social security costs |
460 |
89 |
|
Remuneration of the members of the Corporate Executive Committee |
7,016 |
1,469 |
|
Maximum amount according to AGM resolution |
9,500 |
|
Nine members in 2025
1) The short-term bonus for the reporting year, which is paid out in the following year
2) The amounts include the calculated discount of 25% granted due to the five-year blocking period
3) Performance share units falling due after three years are included with the fair value at allocation
4) Including private use of company car
Remuneration of the Corporate Executive Committee for 2024
|
Gross payments in thousand CHF |
Total |
of which Marc Werner, CEO |
|
Base salary |
2,777 |
500 |
|
Short-term bonus in cash (STI) 1) |
985 |
216 |
|
Short-term bonus in shares (STI) 2) |
618 |
136 |
|
Long-term incentive (LTI) 3) |
746 |
225 |
|
Contributions to pension funds |
552 |
118 |
|
Other remuneration 4) |
74 |
12 |
|
Remuneration awarded |
5,752 |
1,207 |
|
Social security costs |
407 |
79 |
|
Remuneration of the members of the Corporate Executive Committee 5) |
6,159 |
1,286 |
|
Maximum amount according to AGM resolution |
8,500 |
|
Nine members in 2024
1) The short-term bonus for the reporting year, which is paid out in the following year
2) The amounts include the calculated discount of 25% granted due to the five-year blocking period
3) Performance share units falling due after three years are included with the fair value at allocation
4) Including private use of company car
5) Including remuneration of Stephan Mignot since 1 September 2024 as Chief Pharmacies Marketing
Short-term incentive (STI)
In the reporting year, a GEP of CHF 74.0 million was achieved. This corresponds to an increase of 14.3% compared to the previous year, see Value based management section, under Alternative performance measures in the Annual Report 2025. This represents a payout factor of 176.8% for the portion of the STI payout based on GEP performance.
The Group annual net sales growth achieved was 5.5%, corresponding to a payout factor of 142.5% for that portion of the STI.
ESG performance was measured using two objectives: Net Promoter Score (NPS) and employee motivation rate. The payout factor for the NPS component amounts to 78.8%. The employee motivation rate achieved 78.0 points, corresponding to a payout factor of 133.3%.
Consequently, the overall STI payout for the CEO and the other members of the Corporate Executive Committee for the reporting year amounts to 150.5%. This compares to a payout of 127.3% for the previous year.
Performance / payout factor under STI in 2025
|
KPIs |
2025 objectives |
Payout |
Target |
2025 results |
|
Group financial performance: |
|
|
|
|
|
Galenica economic profit (GEP) (50% weighting) |
Maximum |
220% |
CHF 78.3 million |
GEP achieved: CHF 74.0 million Payout factor: 176.8% |
|
Target |
100% |
CHF 66.3 million |
||
|
Threshold |
50% |
CHF 56.3 million |
||
|
Group annual net sales growth (25% weighting) |
Maximum |
220% |
+8.6% |
Net sales growth achieved: 5.5% Payout factor: 142.5% |
|
Target |
100% |
+3.8% |
||
|
Threshold |
50% |
-0.2% |
||
|
Net Promoter Score (NPS) (12.5% weighting) |
Maximum |
150% |
not disclosed for competition reasons |
Payout factor: 78.8% |
|
Target |
100% |
|||
|
Threshold |
50% |
|||
|
Employee motivation rate (12.5% weighting) |
Maximum |
150% |
79 points |
Employee motivation rate achieved: 78 points Payout factor: 133.3% |
|
Target |
100% |
76 points |
||
|
Threshold |
50% |
73 points |
|
Payout |
|
|
|
2025 |
|
CEO |
|
|
|
150.5% |
|
Corporate Executive Committee (without CEO) |
|
|
|
150.5% |
Long-term incentive (LTI)
For the LTI plan 2023-2025, payable in early 2026, the average GEP achievement was CHF 62.6 million. This represents a vesting multiple of 59.4%.
For relative TSR Galenica achieved an average percentile ranking of 73.6%, corresponding to a vesting multiple of 148.0%.
Consequently, the overall vesting level for the CEO and the other members of the Corporate Executive Committee for the LTI plan 2023-2025 amounts to 103.7%. This compares to a vesting level of 123.0% for the LTI plan 2022-2024.
|
KPIs |
2025 objectives |
Payout |
Target |
2025 results |
|
Group financial performance: |
|
|
|
|
|
Galenica economic profit (GEP) (50% weighting) |
Maximum |
200% |
CHF 90.7 million |
Average GEP achieved: CHF 62.6 million Vesting multiple: 59.4% |
|
Target |
100% |
CHF 70.7 million |
||
|
Threshold |
50% |
CHF 50.7 million |
||
|
Relative TSR (50% weighting) |
Maximum |
200% |
best in the peer group |
Relative TSR achieved: average percentile ranking of 73.6% Vesting multiple: 148.0% |
|
Target |
100% |
Median ranking |
||
|
Threshold |
50% |
25th percentile ranking |
||
|
Total LTI 2023-2025 |
|
|
|
Vesting multiple: 103.7% |