Tamro in Brief 2008/09

Tamro Group is the leading pharmaceutical wholesaler in Northern Europe, with pharmacies in Norway, Estonia, Lithuania, Latvia, and Poland. The Group operates in the Nordic and Baltic countries, as well as Poland, and through a minority share in Russia.

The 2008/09 financial period was a record year for Tamro Group: the company achieved its best operating result ever, despite the global financial crisis that began affecting the world in September 2008. In this challenging business environment, Tamro was able to further develop its position as the leading pharmaceutical wholesaler in Northern Europe.

Following its strategy, Tamro also continued its active expansion into the retail sector. Pharmacies were acquired and new pharmacies opened in Norway, Estonia, Lithuania, Latvia, and Poland. Among the most significant investments was the acquisition of the Farma pharmacy chain, with 44 outlets in Lithuania. In the spring of 2009, Tamro will follow the deregulation process of the Swedish pharmacy market closely, and in early summer, decide whether to enter this market.

Throughout 2008/09, Tamro continued to focus on high-quality operations, customer satisfaction, and cost leadership, all of which are vital elements in the company’s success and in fulfilling its important role in the national pharmaceutical chains of the markets in which it operates.

In addition, corporate responsibility was recognised as a key area for development. The first sustainability policy was published and the development of a corporate responsibility reporting process was initiated. In addition, all business units implemented and reported at least one corporate responsibility project. In 2009/10 Tamro will continue this work by launching a group-wide code of conduct and publishing the first corporate responsibility report.

Tamro Group’s net sales for the year under review totalled EUR 5.5 billion. The operating profit improved to an all-time-high of EUR 139 million. The net profit was EUR 93 million. The company employs more than 5,100 people, of whom approximately 55% work in pharmacies.

The corporate headquarters of Tamro is in Vantaa, Finland. Tamro is fully owned by PHOENIX Group, the leading pharmaceutical distributor in Europe.