Strong acceleration of e-Rx sales in Germany for Redcare Pharmacy, from 7% growth in Q1 to 37% in Q2.

Strong acceleration of e-Rx sales in Germany for Redcare Pharmacy, from 7% growth in Q1 to 37% in Q2.

• Total sales reached EUR 560M in Q2, up 33% year over year.
• Non-Rx sales totaled EUR 390M, steady continuation of fast growth, up 21% year over year.
• Rx sales increased to EUR 50M in Germany, 37% growth in Q2 year over year, while CardLink was launched on 6 May.
• Active customer base expanded to 11.6M, up 0.4M in Q2 and 1.4M in one year.

Sevenum, the Netherlands, 4 July 2024. Today, Redcare Pharmacy N.V. released preliminary and unaudited sales numbers for the second quarter. Unabated, double-digit growth in sales and the active customer base continued for the Group. The fully digital e-Rx redemption method via the health card (CardLink) was launched on 6 May. First results showed a rapid increase in prescription sales, with the quarter average Rx growth accelerating from 6.8% in Q1 to 36.6% in Q2 in Germany. Redcare Pharmacy´s total Group sales increased 33.3% to EUR 560 million (Q2 2023: EUR 420 million), bringing year-to-date sales to EUR 1,120 million and growth to 41.4% (H1 2023: EUR 792 million).

Redcare Pharmacy’s CEO, Olaf Heinrich comments: “Finally, we can offer patients across Germany a fully digital journey to get their prescription drugs easily, safely and quickly. Following the nationwide adoption of e-Rx and the successful launch of CardLink, we have received very positive feedback from both existing and new customers. We see our reliable and patient-friendly, digital journey as a significant addition to the total healthcare system improving the lives of millions.”

Non-Rx sales for the Group grew 20.7% to EUR 390 million in Q2, bringing year-to-date growth to 20.3% and sales to EUR 795 million. Total Rx sales were EUR 170 million in Q2 and EUR 325 million year to date. Excluding MediService, which has been consolidated since mid-May last year, Redcare Pharmacy’s growth was 22.3% in Q2 and 20.4% year to date. 

The active customer base expanded to 11.6 million, up 1.4 million over the past year and 0.4 million in Q2. The NPS (customer net promoter score) remained at a high level of 68.

CFO Jasper Eenhorst adds: “As the acceleration in Q2’s Rx sales shows, we are focused on the vast e-Rx opportunity in Germany, where we are benefiting from our strong brand and services. In parallel, we see continued strength in our OTC and BPC performance both in Germany and in Europe. We increased marketing in e-Rx, still we feel comfortable that the margin in Q2 will be within the full-year guidance range of 2% to 4%.”

Sales in the DACH segment (Germany, Austria and Switzerland) increased 35.3% in Q2 to EUR 452 million (Q2 2023: EUR 334 million). Excluding MediService, sales in DACH grew 21.4%. Non-Rx sales growth was 19.1% to EUR 283 million (Q2 2023: EUR 237 million). Prescription medication sales (Rx) rose by 75.2% to EUR 170 million.  Excluding MediService, Rx sales growth accelerated from 6.8% in Q1 to 36.6% in Q2.

In the International segment (Belgium, Italy, France, and the Netherlands) sales also continued to grow at a fast rate of 25.1% to EUR 107 million (Q2 2023: EUR 86 million).

All published figures are preliminary and unaudited. Redcare Pharmacy N.V. will release the full interim report for H1 2024 on 30 July 2024.

Investor Relations Contact:

Monica Ambrosi (Associate Director, Investor Relations)

investors@redcare-pharmacy.com

Press Contact:

Sven Schirmer (Director, Corporate Communications)

press@redcare-pharmacy.com

About Redcare Pharmacy.

Originally founded in 2001, Redcare Pharmacy N.V. (formerly known as Shop Apotheke Europe N.V.) today is the leading e-pharmacy in Europe, currently active in seven countries: Germany, Austria, France, Belgium, Italy, the Netherlands and Switzerland.

Headquartered in Sevenum, close to the Dutch city of Venlo and in the heart of Europe, the company has locations in Cologne, Berlin, Munich, Tongeren, Warsaw, Milan, Lille and Eindhoven.

As the one-stop pharmacy of the future, Redcare Pharmacy offers over 11 million active customers a wide range of more than 150,000 products at attractive and fair prices. Besides OTC, nutritional supplements, beauty and personal care products (BPC) as well as an extensive assortment of health-related products in all markets, the company also provides prescription drugs for customers in Germany, Switzerland and the Netherlands.

Pharmaceutical safety is of top priority. Being a pharmacy at its core, Redcare stands for comprehensive pharmaceutical consultation service. Since care is at the heart of everything Redcare does, the company provides services for all stages of life and health. This ranges from its marketplaces to unique delivery options and medication management.

Redcare Pharmacy N.V. has been listed on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) since 2016. As of 19 June 2023, the company is a member of the MDAX selection index.