Outlook 2012
Our strategic priorities for 2012 are unchanged: growth of Direct & Institutional, strengthening of our leading pharmacy formula and efficiency improvements.
Direct & Institutional
Sales growth due to the acquisitions completed in 2011 and continued organic growth, despite transfer of biopharmaceuticals to hospital budget in the Netherlands, and the loss
of a contract for the supply of pharmaceuticals to hospitals
(also in the Netherlands)
EBITA-margin of between 9% and 10%.
Pharmacies NL
Sales decrease, reflecting the switch of the 41 Medsen pharmacies to another wholesaler between November 2011 and April 2012 and patent expiration on a large number pharmaceuticals The sales decrease, in combination with cost increases entailed by arrangements under Collective Labour Agreement, will cause a decline in EBITA.
Pharmacies International
Sales growth in line with the market.
EBITA increase.