Celesio announced earnings results for the fiscal year 2017. For the year, the company reported group revenue of EUR 20,644 million in fiscal year 2017, down 2.6% on fiscal year 2016. Revenue in fiscal year 2017 was adversely impacted by the devaluation of the British pound and the sale of the Norwegian and Swedish operations to McKesson. These effects were partially offset by revenue growth in German wholesale operations and the contribution from acquisitions completed in fiscal year 2017. Earnings before interest and taxes (EBIT) from continuing operations, adjusted for special effects, fell by 29.1% to EUR 302.6 million compared to EUR 426.6 million in fiscal year 2016. Adjusted EBIT in the reporting period was adversely impacted by UK governmental reimbursement cuts, the sale of Celesio's Norwegian and Swedish operations in the previous fiscal year and the devaluation of the British pound. Overall, negative exchange rate effects on EBIT amounted to EUR 24.6 million, mainly related to the British pound. On a constant currency basis and excluding the disposals in the previous fiscal year, adjusted EBIT fell by 18.5% in fiscal year 2017 compared to fiscal year 2016.

In fiscal year 2018, Celesio's consolidated revenue and earnings will benefit from market growth, new business, and acquisition-related growth. However, earnings will continue to be burdened by the second phase of newly agreed pharmacy funding cuts in one of the key markets, the United Kingdom. As a result, Celesio expects for continued operations revenue slightly above fiscal 2017 and a slight decrease in adjusted EBIT compared to fiscal 2017.