Operating Systems

Description

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1Operating Systems Memory Management (Ch 8.1 - 8.6) Overview F Provide Services (done) – processes (done) – files (done in cs4513) F Manage Devices – processor (done) – memory (next!) – disk Simple Memory Management F One process in memory, using it all – each program needs I/O drivers – until 1960 RAM User Prog I/O drivers Simple Memory Management F Small, protected OS, drivers – DOS OS OS RAM ROM DeviceDrivers ROM OS RAM RAM User Prog User Prog User Prog F “Mono-programming” -- No multiprocessing! F Early efforts used “Swapping”,

• load time
• ram rom devicedrivers rom
• unreliable signals
• frame cpu
• systems software signals software
• physical memory
• page table
• page
• time

Sujets

• Management
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Informations

• Publié par: romek
• Nombre de lectures: 23
• Langue: English

Extrait

Results
rd
3 Quarter 2011/12
Investorr CCall
st
Mannheim, 21 December 2011
Reimund Pohl / Dr. Michael Majerus
CEO / CFODisclaimer
© 2011 PHOENIX Pharmahandel GmbH & Co KG
This document has been prepared by PHOENIX Pharmahandel GmbH & Co KG (the “Company” and, together with its subsidiaries and affiliates,
rd
“PHOENIX”) solely in connection with the release of the results of the 3 quarter 2011/12 and is being presented solely for informational purposes. No
representation or warranty, express or implied, is or will be made in relation to, and no responsibility is or will be accepted by the Company or any of its
respective affiliates, advisors or representatives (together, the “Parties”) as to the accuracy or completeness of the information contained in this document,
and nothing in this document shall be deemed to constitute such a representation or warranty. None of the Parties or their respective agents, directors,
partners and employees accept any liability whatsoever (in negligence or otherwise) for any loss or damage howsoever arising from any use of this
document or its contents or otherwise arising in connection therewith and no reliance should be placed on the information or statements made herein.
This document does not constitute or form part of and should not be construed as a recommendation, offer or invitation for the purchase or subscription of
any securities of the Company or any subsidiary, and neither this document nor anything contained herein shall form the basis of, or be relied upon in
connection with, any contract or commitment whatsoever.
The information contained in this presentation has not been subject to any independent audit or review. A portion of the information contained in this
ddoocument, includiinngg aall market data aanndd ttrend informatiioonn,, iiss based on esttiimmaattees or expectatioonnss oof the Companyy,, aanndd there can be nnoo aasssurance that tthheessee
estimates or expectations are or will prove to be accurate. In addition, past performance of PHOENIX is not indicative of future performance. The future
performance of PHOENIX will depend on numerous factors which are subject to uncertainty.
Certain statements contained in this presentation that are not statements of historical fact, including, without limitation, any statements preceded by, followed
by or including the words “targets,” “believes,” “expects,” “aims,” “intends,” “may,” “anticipates,” “would,” “could” or similar expressions or the negative
thereof, constitute forward-looking statements, notwithstanding that such statements are not specifically identified. In addition, certain statements may be
contained in press releases, and in oral and written statements made by or with the approval of the Company that are not statements of historical fact and
constitute forward-looking statements. Examples of forward-looking statements include, but are not limited to: (i) statements about future financial and
operating results; (ii) statements of strategic objectives, business prospects, future financial condition, budgets, projected levels of production, projected costs
and projected levels of revenues and profits of the Company or its management; (iii) statements of future economic performance; and (iv) statements of
assumptions underlying such statements.
Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions which are difficult to predict
and outside of the control of the management of the Company. Therefore, actual outcomes and results may differ materially from what is expressed or
forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements. All subsequent written and oral
forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary
statements referenced above. Forward-looking statements speak only as of the date on which such statements are made. The Company expressly disclaims
any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement to reflect events or circumstances after the date on
which such statement is made, or to reflect the occurrence of unanticipated events.
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Results of the 3 Quarter 2011/12
2
PHOENIX group, 12/21/2011, Mannheim, GermanyAgenda
rd
Highlights of the 3 Quarter
2011/12
Reimund Pohl
CEO
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Groupp Financiciaals 3 QQuarter
2011/12
Dr. Michael Majerus
CFO
Questions & Answers
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Results of the 3 Quarter 2011/12
3
PHOENIX group, 12/21/2011, Mannheim, GermanyDespite increasing market pressure, PHOENIX is
able to grow revenue and gross profit
Revenue Gross Profit
PHOENIX shows a revenue
growth slightly above
market – once more,
80
PHOENIX group confirmed
(+1%)
16,215
16,135
its position as leading
15,000 pharmaceutical distributor in
Europe
+63
(+4%)
Gross profit and gross
1100,,000000
1,470
1,500 1,407
maarrgin signiiffiiccantly
improved as a result of the
margin-oriented sales policy,
5,000
additional higher-margin
revenue, and the increasing
500
share of retail business,
especially through the
0 0
inclusion of the Lloyds
Q3 2010/11 Q3 2011/12
Q3 2010/11 Q3 2011/12
pharmacies in the
Netherlands
(mEUR)
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Results of the 3 Quarter 2011/12
4
PHOENIX group, 12/21/2011, Mannheim, GermanyYear-over-year developments of EBITDA and profit
before tax confirm the group’s solid position
EBITDA Profit before tax
The small decrease in
EBITDA is mainly influenced
by a positive one-time effect
-6
from the reduction of
450 (-1%)
424
418
pension obligations in the
400
previous year (+18,2 mEUR
350
in 2010/11)
+60
300
(+33%)
Profit before tax is driven
240
250
225500
byy tthhe furtherr iimmprovemenntt
200
200 180
in the financial result, mainly
150
150
due to the reduced debt
level and the better
100
100
financing conditions
50
50
0
0
Q3 2010/11 Q3 2011/12
Q3 2010/11 Q3 2011/12 *
*
(mEUR)
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* Due to the first-time adoption of IAS
Results of the 3 Quarter 2011/12
5
19.93A, PY figures were made comparable
PHOENIX group, 12/21/2011, Mannheim, GermanyPHOENIX is pursuing its growth strategy in a
consequent and successful manner
Our most important strategic direction is to grow our core business:
pharmaceutical wholesale and retail across the European markets
At the same time, we carefully examine new business opportunities and
assess their long-term potential, but with all commercial due diligence
OOur success ss is basedd oon our favvoorable maarrket posiittiioon and onn aa varietyy
of measures and activities that are applied across the organization:
Increased Selected M&A Well-balanced
cost focus transactions country portfolio
Local business,
Transfer of Favorable
central
best practices country mix
coordination
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Results of the 3 Quarter 2011/12
6
PHOENIX group, 12/21/2011, Mannheim, GermanyThe growth strategy is based on a combination of
organic growth and careful add-on acquisitions
Profitable organic PHOENIX’s Profitable, financially
growth above market sound acquisitions
growth strategy
within a pre-defined budget; in
2011/2012, the financing was done
by divestitures of non-core assets
Acquisitions to further strengthen the wholesale market position
Acquisition of a 60% participation in Farcopa Distribuzione S.r.l. (Italy) and increase of the
share (from 40% to 100%) in Farmaceutici Signorini S.r.l. (Italy)
MMeasures ttoo optimizee tthhe retail ppoorrtfolio
Purposeful acquisitions and openings of pharmacies in selected retail markets
Successful integration of a pharmacy portfolio in the Netherlands
Strengthening of the competence in IT solutions for pharmacies
Acquisition of JDM, the German market leader in cash register systems for pharmacies
Activities to adjust our participation structure
Sale of Imgroma BV, a marketing and sales company for OTC products in the Netherlands
In Poland, PHOENIX intends to close down its conventional wholesale activities by YE
2011/2012; the future of the retail and pre-wholesale service business is still under discussion
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Results of the 3 Quarter 2011/12
7
PHOENIX group, 12/21/2011, Mannheim, GermanyThe international retail business will be further
strengthened through a rebranding initiative
In continental Europe, more than 700 pharmacies will be united under the new
brand BENU. The rebranding of the local pharmacy organizations with a common
retail brand name constitutes an important step towards the further strengthening
of PHOENIX’s leading retail position in Europe. As per November 2011,
PHOENIX operates approx. 1,550 pharmacies in 12 European countries.
One common brand to be
introduced in many of our retail
oorganizattiioonns across EEurope:
In some countries, however, it is
planned to continue with the existing
retail brand names
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Results of the 3 Quarter 2011/12
8
PHOENIX group,