MEDIQ

• Home »
• Press »
• Press releases »
• Archive 2010 »
• Strong growth Mediq Direct & Institutional

Earnings outlook achieved

Financial highlights of 4th quarter
Net sales : down 10% due to disposal of Belgian activities (- 9%) and currency effects (- 2%)
Operating result : up 54%; operating result from ordinary activities increased 8%, driven by continuing growth at Direct & Institutional
Net result : up from € 2.3 million to € 14.5 million

Operational highlights of 4th quarter
Direct & Institutional
− Sales growth of 7%,
− Operating result up 8% due to strong growth in Denmark and USA
− One-off reorganisation provision of € 1.7 million at group company for delivery of medical supplies to care institutions in the Netherlands
Pharmacies Netherlands
− Pressure on sales and result due tot further expansion of preference policy
− Long-term contracts signed with healthcare insurers for 50% of our customers as alternative to preference policy
− First phase of reorganisation completed; implementation of second and third phase on track
Pharmacies International
− Sales decline due to disposal of Belgian activities and weak zloty
− Operating result in Poland improved due to restructuring programme

Financial highlights 2009
− Operating result guidance of approximately € 110 million comfortably achieved
− Stable margin at Direct & Institutional
− Outlook 2010: organic revenue growth of 3 to 5% at constant exchange rates.
− Dividend proposal: final dividend of € 0.34, bringing total to € 0.44 per share (pay-out of 35%); an increase of 47%; introduction of elective dividend
− Balance sheet strengthened further by operating cash flow, disposal of Belgian pharmaceutical activities and sale & leaseback Norway

Download PDF  (491 KB)