Redcare Pharmacy N.v. · XETR:RDC
Redcare Pharmacy — Q3 2024 Earnings Presentation
26 slides from Redcare Pharmacy's earnings presentation, Nov 5, 2024
Slide 1: Q3 2024 Earnings call presentation
Q3 2024 Earnings call presentation. SEVENUM | 5 november 2024
Slide 2: Presenting live from Sevenum
Presenting live from Sevenum. 2
Slide 3: Today's presenters
Today’s presenters. Olaf Heinrich, Jasper Eenhorst, Chief Executive Officer. Chief Financial Officer. 3
Slide 4: Greetings from Pilsen
Greetings from Pilsen. 4
Slide 5: Today's agenda
Today’s agenda. 1 Financial performance. 2 E-Rx update. 3 Outlook and guidance. 5
Slide 6: Financial performance
1 Financial performance. 6
Slide 7: 9M 2024 financial highlights
Financial performance 9M 2024 financial highlights. Fast growth with record sales continued. Group sales up 34% in 9M 2024, reaching EUR 1.7bn. Excluding MediService (consolidated since May 2023), growth was 23%. Non-Rx growth of 20% to EUR 1.2bn. +18% in the DACH Segment and +26% in the Internation
Slide 8: Double-digit growth continues
KEY FINANCIALS | 9M sales Sales Double-digit growth continues. Total DACH International Non-Rx: 25.7% +33.8% +35.8% Non-Rx: Non-Rx: +20.2% +18.3% RX: EUR EUR +79.8% EUR 1,695M 1,376M 319M EUR EUR EUR 1,267M 1,013M 254M 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 8
Slide 9: Exceptional growth, dynamic acceleration of our Rx sales in Germany
Rx update Exceptional growth, dynamic acceleration of our Rx sales in Germany. Rx growth from 7% in Q1, to 37% in Q2, to 81% in Q3 and accelerating to 108% in September. 108% Redcare Germany Rx sales Source: Redcare Pharmacy 7% 37% 81% Nationwide adoption of e-Rx Go-live of CardLink Summer break, le
Slide 10: Approaching 12M active customers, basket value up
Non-financial kpiS Approaching 12M active customers, basket value up. Number of customers 69 +0.4M Net Promoter Score Q3 2024 (Q3 2023: 74) +0.4M +0.3M 11.9M +0.4M 10.5M +1.4M € 61.86 Average shopping basket value Sep 2023 Sep 2024 Q3 2024 (Q3 2023: € 60.21) Note: due to rounding, total may differ f
Slide 11: For the first time, more orders in Q3 than in Q2
NON-FINANCIAL KPIS For the first time, more orders in Q3 than in Q2. Number of orders Share of repeat orders in millions in percentage of total 8.9 8.7 8.8 7.5 7.8 7.1 7.0 6.2 6.4 5.5 5.8 5.6 5.1 Source: Redcare Pharmacy 4.7 4.4 81% 82% 83% 81% 81% 83% 85% 84% 84% 84% 86% 87% 87% 87% 88% Q1 Q2 Q3 Q4
Slide 12: 9M sales up EUR 428M to EUR 1.7bn, adj. EBITDA EUR 38M
Key financials | Profit & Loss 9M sales up EUR 428M to EUR 1.7bn, adj. EBITDA EUR 38M. MediService included since mid-May 2023, leading to mix impact on gross profit and selling and distribution margins when comparing year over year. year over year year over year in millions of euros, Better or Bett
Slide 13: Key financials | gross profit margin
Key financials | gross profit margin Strong growth achieved with stable gross profit margins before impact of mix. Adjusted gross profit margin Adjusted gross profit margin in percentage of sales in percentage of sales 28.2% 28.0% 25.2% 23.4% 23.4% 23.2% 23.3% Source: Redcare Pharmacy Q1 2024 Q2 202
Slide 14: Key financials | selling, distribution and admin ratio
Key financials | SELLING, distribution AND ADMIN ratio Cost performance continues to be in focus while increasing Rx marketing. Adjusted SD&A costs Adjusted SD&A costs in percentage of sales in percentage of sales (21.5%) (25.1%) (25.6%) (21.3%) (20.7%) (22.2%) (21.1%) Source: Redcare Pharmacy Q1 20
Slide 15: Cash balance remains solid
Key financials: cash flow Cash balance remains solid. Cash flow Operating result cash flow: EUR +37 in millions of euros million. Adj. EBITDA margin 2.3%. Working capital: EUR +10 million. Seasonal pattern partly offset by higher inventory value. 37 10 (26) (15) 204 210 Investments: EUR -26 million.
Slide 16: E-Rx update
E-Rx update. 2 16
Slide 17: German e-Rx momentum further accelerating strongly
E-rx update German e-Rx momentum further accelerating strongly. Fast increase in app downloads. E-Rx rapidly turning into an app business; already 90% of our e-Rx prescriptions submitted via app. Total Rx growth of 81% in Q3, further acceleration to over 130% in October. Strong market share gain: fr
Slide 18: Acceleration of app downloads
SHOP APOTHEKE APP DOWNLOADS Acceleration of app downloads. Shop Apotheke monthly 450 app downloads have doubled since launch of CardLink. 415 400 350 300 290 250 231 213 200 197 194 177 175 150 145 150 100 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nationwide Go-live of Summer break and adoption of e-R
Slide 19: Rapid transformation into an app business
Rx BY CHANNEL Rapid transformation into an app business. Customers Share of Redcare Rx prescriptions by channel received*. One-stop pharmacy on smartphone: gematik app QR code scan a pharmacy at your finger-tip. Shop Apotheke app / CardLink Mail (QR code and paper) Fully digital journey. Convenient
Slide 20: Exceptional growth, dynamic acceleration of our Rx sales in Germany
Rx update Exceptional growth, dynamic acceleration of our Rx sales in Germany. Rx growth from 7% in Q1, to 37% in Q2, to 81% in Q3 and accelerating to over 130% in October. +130% Redcare Germany Rx sales Source: Redcare Pharmacy 7% 37% 81% Nationwide adoption of e-Rx Go-live of CardLink Summer break
Slide 21: Market share doubled from January to end of Q3
SHARE IN ADDRESSABLE rx MARKET Market share doubled from January to end of Q3, acceleration continued into Q4. Redcare’s market share of Rx sales in Germany, assuming a EUR 55 billion addressable market. 0,70 0.66% 0,60 Annualised revenue potential. 0.55% +0.1pp = >EUR 50 million 0,50 +1pp = >EUR 50
Slide 22: Germany's addressable Rx market
Today’s Rx market in Germany Germany’s addressable Rx market. Total online penetration ~1%. EUR Market share gain in 2024. 55 bn From 0.27% in January to 0.55% in September and 0.66% in October. Annualised revenue potential. +0.1pp = >EUR 50 million +1pp = >EUR 500 million 22 Total addressable Rx ma
Slide 23: Outlook and guidance
3 Outlook and guidance. 23
Slide 24: E-Rx step up: 2024 guidance updated on 3 October
FULL-YEAR Guidance E-Rx step up: 2024 guidance updated on 3 October. Initial guidance: Guidance since 3 October: Total sales EUR 2.3-2.5 billion. Total sales EUR 2.35-2.5 billion. Non-Rx sales growth 15-25%. Non-Rx sales growth 20-25%. MediService to grow by mid-single MediService to grow by lower h
Slide 25: Time to ask questions
O J ®O & -¥ Redcare questions. ask
Slide 26: Thank you
Thank ~—— you. & @SEVENUM | 05 NOVEMBER 2024) s¥ Redcare