Slide 1: Earnings call presentation: Q4 and FY 2024
Earnings call presentation: Q4 and FY 2024. @SEVENUM , 11 MARCH 2025 ) ¥ Redcare
Slide 2: Presenting live from Sevenum
Slide 3: Today's presenters
Today’s presenters. Olaf Heinrich, | Jasper Eenhorst, Chief Executive Officer. Chief Financial Officer. A]
Slide 4: Today's agenda
Today’s agenda. €&> Highlights of 2024. ® Business performance 2024. C3) Update on strategy. Outlook and guidance 2025. 5
Slide 5: Highlights of 2024
ie? Highlights of 2024.
Slide 6: Looking back at an exceptional year 2024
Looking back at an exceptional year 2024. > > > E-Rx became the nationwide standard in Germany for all publicly insured after decades of debate. Fully digital patient journey via CardLink approved by the Ministry of Health and gematik. Highly valued, customer-centric product. Successful, unprecedent
Slide 7: More achievements in 2024
More achievements in 2024. > > Continuously high customer satisfaction and growth across all propositions. Now also market leader in Italy, besides Germany, Austria, Belgium and Switzerland. Marketplace successfully launched in Belgium and Italy. Growth managed operationally and record efficiency in
Slide 8: Business performance 2024
Business performance 2024.
Slide 9: Financial highlights 2024
@ BUSINESS PERFORMANCE Financial highlights 2024. > Full-year sales up 32% to EUR 2.4bn. Excluding MediService, consolidated since May 2023, fully-organic growth of 26%. Non-Rx growth 21% to EUR 1.6bn. Rx growth 64% to EUR 750M. Adj. EBITDA margin 1.4% (Q4 -0.7%), with a strategic increase in e-Rx m
Slide 10: Key financials | Sales
@ KEY FINANCIALS | SALES Further increased momentum: Rx sales +64%, total sales up 32%. Total DACH International a. +33.1% eC Vad EUR EUR 2,371M 437 EUR EUR EUR 1,799M 1,454M 345 FY 2023 FY 2024 FY 2023 FY 2024 FY 2023 FY 2024 10
Slide 11: Non-financial KPIs: active customers
@ NON-FINANCIAL KPIs +1.7M active customers, acceleration in Q4; basket also up. @ Number of customers & in millions 6 +0.6M Not just Net Promoter Score foryou... +0.4M FY 2024 (2023: 71) +0.4M 12.5 +0.4M ® re) 10.8M +.7M € 60.98 Average shopping basket value Des ates) Dec 2024 FY 2024 (2023: 59.40)
Slide 12: Non-financial KPIs: orders
@ NON-FINANCIAL KPIs Impressive order increase successfully processed. @ Number of orders in millions Share of repeat orders in percentage of total 10.4 8.9 8.7 8.8 81% 82% 83% 81% 81% 83% 85% 84% | 84%| | 84%| | 86% | 87% @3 @4 Qi @2 @8 @ ai Q2 Q3 Q4 ai Q2 Q3 Q4 ai Q2 2021 2022 2023 2024 Orders: sa
Slide 13: Key financials | Profit & loss
@ KEY FINANCIALS | PROFIT&LOSS _) Sales up EUR 572M or 31.8% and margin within updated guidance. Gross profit margin impacted by Rx (more euros, lower percentage margin). Year over Year Year over Year in millions of euro, adjusted numbers @Q4 2023 Q4 2024 Better or (worse) FY 2023 FY 2024 Better or
Slide 14: Key financials | Gross profit margin
@ KEY FINANCIALS | GROSS PROFIT MARGIN ) Stable gross margins before Rx / OTC mix effects. Adjusted gross profit margin Adjusted gross profit margin in percentage of sales in percentage of sales 28.1% 27.5% 24.5% 22.8% 22.3% 23.0% Q4 2023 Q4 2024 FY 2023 FY 2024 FY 2023 FY 2024 excluding excluding M
Slide 15: Key financials | Selling, distribution and admin ratio
@ KEY FINANCIALS | SELLING, DISTRIBUTION AND ADMIN RATIO ) Cost discipline remains a priority. Adjusted SD&A costs Adjusted SD&A costs in percentage of sales in percentage of sales 9 (23.0%) (25.41%) (26.2%) 9 (19.8%) (21.6%) BSS) Q4 2023 4 2024 FY 2023 FY 2024 FY 2023 FY 2024 excluding excluding Me
Slide 16: Key financials | DACH segment
@ Key FINANCIALS | DACH SEGMENT ) Our established businesses within DACH continued to grow at double-digits and with an already solid 5 to 6% fully-loaded margin. For this overview, established is defined as Adj. EBITDA margin reporting segment DACH excluding Redcare’s . . , 5-6% uy Swiss businesses
Slide 17: Key financials | International segment
@ Key FINANCIALS | INTERNATIONAL SEGMENT ) In International, sales almost tripled over four years. Rapidly improved fully-loaded margin for the last two years. 17 Unabatedly year after year, increasing base of happy active customers. Clear market leader in Belgium and in Italy since 2024 too. Smalle
Slide 18: Key financials: Cash flow
KEY FINANCIALS: CASH FLOW Cash flow EUR -26M; continued working capital improvements. Cash flow (in millions of euro) 32 (3) (38) (18) 204 178 31 Dec 2023 31 Dec 2024 Cash and Operating result Working capital* Investments* Financing Cashand short-term adjusted for movements and foreign short-term fi
Slide 19: Strategy
strategy.
Slide 20: Very strong Rx KPIs confirm Redcare's strategic direction
Very strong Rx KPIs confirm Redcare‘s strategic direction. 20 Europe’s leading one-stop pharmacy with a unique and broad customer value proposition. Best positioned as the leading pharmacy to accelerate market leadership in Germany. Steady gain in Rx market share, tripled within a year. More than on
Slide 21: Value proposition
@ VALUE PROPOSITION Europe’s leading one-stop pharmacy with a unique and broad customer value proposition. ( ‘) > Most popular and top rated pharmacy One-stop pharmacy platform; highly trusted brand. \ S v Vv ( >) =» Enhanced pharmacy services Pharmacy Marketplace (e.g. pharmaceutical advice, intera
Slide 22: Strategy Germany
@ STRATEGY GERMANY Best positioned as the leading pharmacy to accelerate market leadership in Germany. _ Online pharmacies VY _ Platforms WY ———)/ Brick-and- mortar pharmacies X S Brand Positioning : +t Shop Apotheke EU-online FU-online pharmacies P pharmacies Drug store apps / Insurance apps / Plat
Slide 23: Steady gain in Rx market share, tripled within a year
Steady gain in Rx market share, tripled within a year. Redcare’s market share of Rx sales in Germany at quarter-end, assuming a EUR 55 billion addressable market. @ 0.82% Annualised revenue potential. +0.ipp = >EUR 50 million +1pp = >EUR 500 million 0.66% 0.54% 0.48% 0.27% ai Q2 Q3 Q4 Feb 2024 2025
Slide 24: More than one million active Rx customers in 2024
More than one million active Rx customers in 2024. Dense of Rx customers > in millions Finally a fully-digital solution available to patients across Germany. 11M > Fast acceptance by patients +274K after nationwide adoption. SAGAS > Further acceleration in H2, fueled by dedicated e-Rx +68K © marketi
Slide 25: Rx strategy: cohorts outperform non-Rx
@ RX STRATEGY Rx cohorts already outperform strong non-Rx cohorts in year 1 by a multiple. 0) Even better pattern for Q2 and Q3 cohorts. 2024 Indexed accumulated sales per new customer (total cohort) Indexed accumulated gross profit per new customer (total cohort) 900 900 700 700 Rx Qi 500 500 x27 3
Slide 26: Unit economics: Rx vs non-Rx
@ UNIT Economics Rx unit economics outperform strong non-Rx metrics, both fueling mid-term EBITDA guidance >8%. 26 AOV Gross margin Gross profit Variable costs Marketing Marketplace EBITDA Non-Rx E-Rx €50 > €100 ~ 30% 18 - 22% €15 > €20 Main differences between Rx and non-Rx. > Twice as high, furthe
Slide 27: Outlook and guidance 2025
Outlook and guidance 2025. A]
Slide 28: Logistics automation at Sevenum
@ LoGisTIcs AUTOMATION Next generation intralogistics for Sevenum: major step-up in both efficiency and output capacity. > Highly automated solution with proven technology, tailored towards our specific processes. > Doubling order capacity at the existing Sevenum location. > Reducing labour per orde
Slide 29: Outlook and guidance 2025
(@ OUTLOOK AND GUIDANCE 2025 Guidance, full-year 2025. > Total sales growth in excess of 25%. > Rx in Germany in excess of EUR 0.5 billion. > Non-Rx total company growth in excess of 18%. > Adj. EBITDA margin positive 2% to 2.5%. From regular seasonality and our planning, Qi likely to be lower. The
Slide 30: Questions
¥ Redcare questions. ask
Slide 31: Annual Report 2024 available on website
@ SEVENUM | 41 MARCH 2024 ) Annual Report 2024 can be downloaded on our website: www.ir.redcare-pharmacy.com ¥ Redcare