Galenica - Halbjahresbericht 2023

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 first half of 2023

in thousand CHF	As reported	Adjustments IAS 19	Adjustments IFRS 16	Adjusted
Net sales	1,851,190	–	–	1,851,190
Products & Care 1)	804,364	–	–	804,364
Logistics & IT 1)	1,518,491	–	–	1,518,491

Other income	8,170	–	–	8,170
Operating income	1,859,360	–	–	1,859,360

Cost of goods	–1,339,449	–	–	–1,339,449
Personnel costs	–278,773	–1,292	–	–280,065
Other operating costs	–100,187	–	–27,037	–127,224
Share of profit from associates and joint ventures	2,948	–194	25	2,780
Earnings before interest, taxes, depreciation and amortisation (EBITDA)	143,900	–1,486	–27,012	115,402
Products & Care 1)	107,842	–	–25,179	82,663
Logistics & IT 1)	34,928	–	–1,222	33,706

Depreciation, amortisation and impairment	–51,379	–	26,157	–25,222
Earnings before interest and taxes (EBIT)	92,521	–1,486	–855	90,180
Return on sales (ROS) 2)	5.0%	–0.1%	0.0%	4.9%
Products & Care 1)	73,744	–	–623	73,121
Return on sales (ROS) 2)	9.2%	0.0%	–0.1%	9.1%
Logistics & IT 1)	19,058	–	–69	18,990
Return on sales (ROS) 2)	1.3%	0.0%	0.0%	1.3%

Net financial expenses	–2,978	–64	1,459	–1,583
Earnings before taxes (EBT)	89,543	–1,550	605	88,597

Income taxes	–15,056	244	–78	–14,889

Profit from continuing operations	74,487	–1,306	527	73,708

Profit from discontinued operations	112,843	–64	–2	112,777

Net Profit	187,330	–1,370	525	186,485

Attributable to:
– Shareholders of Galenica Ltd.	186,998	–1,370	522	186,151
– Non-controlling interests	331	–	3	334

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 from continuing operations	1.49	–0.03	0.01	1.47
Diluted earnings per share from continuing operations	1.49	–0.03	0.01	1.47

Adjusted consolidated statement of income first half of 2022

in thousand CHF	As reported (Restated) 1)	Adjustments IAS 19	Adjustments IFRS 16	Adjusted
Net sales	1,754,208	–	–	1,754,208
Products & Care 2)	771,689	–	–	771,689
Logistics & IT 2)	1,434,631	–	–	1,434,631

Other income	7,736	–	–	7,736
Operating income	1,761,945	–	–	1,761,945

Cost of goods	–1,275,622	–	–	–1,275,622
Personnel costs	–257,470	–1,355	–	–258,825
Other operating costs	–83,743	–	–27,179	–110,921
Share of profit from associates and joint ventures	2,019	–47	–5	1,967
Earnings before interest, taxes, depreciation and amortisation (EBITDA)	147,129	–1,403	–27,183	118,542
Products & Care 2)	105,468	–	–25,353	80,115
Logistics & IT 2)	40,345	–	–1,231	39,114

Depreciation, amortisation and impairment	–48,830	–	25,307	–23,523
Earnings before interest and taxes (EBIT)	98,299	–1,403	–1,876	95,020
Return on sales (ROS) 3)	5.6%	–0.1%	–0.1%	5.4%
Products & Care 2)	72,517	–	–1,693	70,823
Return on sales (ROS) 3)	9.4%	0.0%	–0.2%	9.2%
Logistics & IT 2)	25,382	–	–20	25,361
Return on sales (ROS) 3)	1.8%	0.0%	0.0%	1.8%

Net financial expenses	–2,379	–112	1,175	–1,316
Earnings before taxes (EBT)	95,920	–1,515	–701	93,703

Income taxes	–16,922	264	126	–16,532

Profit from continuing operations	78,998	–1,251	–575	77,171

Profit from discontinued operations	4,127	–13	–	4,114

Net Profit	83,124	–1,264	–575	81,285

Attributable to:
– Shareholders of Galenica Ltd.	82,912	–1,264	–575	81,072
– Non-controlling interests	213	–	–	213

1) Figures restated (refer to note 4 of the Consolidated interim financial statements)

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

3) Calculated as EBIT divided by net sales

in CHF	As reported	Adjustments IAS 19	Adjustments IFRS 16	Adjusted
Earnings per share from continuing operations	1.59	–0.03	–0.01	1.55
Diluted earnings per share from continuing operations	1.58	–0.03	–0.01	1.55