Galenica (GALE) Investor presentation summary

Key financial highlights

• Net sales reached CHF 4,135.6 million in 2025, with adjusted EBIT at CHF 234.8 million and a dividend yield of 2.6%.

• Sales growth was 5.5% year-over-year, supported by acquisitions, notably Labor Team.

• All business areas contributed to growth, with Pharmacies Omni-Channel up 4.9%, Products & Brands up 2.1%, and Wholesale up 4.8%.

• Adjusted EBIT margin improved to 5.7%, and operating cash flow increased to CHF 245.7 million.

• Board proposes an 8.7% dividend increase, with a payout ratio of 68.2%.

Business model and operations

• Operates Switzerland’s largest pharmacy network with over 500 locations, including online and offline channels.

• Multi-brand strategy with Amavita, Sun Store, and Coop Vitality, holding ~25% market share by sales.

• Leading in pharma logistics, diagnostics, and IT solutions for healthcare digitization.

• Strong M&A track record, expanding both Products & Care and Logistics & IT segments.

• Strategic partnerships and JVs, including with Redcare Pharmacy, enhance online and specialty pharmacy offerings.

Market environment

• Swiss healthcare market shows resilient growth, with a 2025–28 CAGR of 4%.

• Pharmaceutical market reached CHF 8.1 billion in 2025, with local pharmacies accounting for CHF 3.5 billion.

• High generic substitution rate of 78.1% in pharmacies, supporting cost efficiency.

• Regulatory environment includes ongoing drug price reviews and new distribution margin models.