Redcare Pharmacy N.v. · XETR:RDC
Redcare Pharmacy — FY2023 Earnings Presentation
28 slides from Redcare Pharmacy's earnings presentation, Mar 5, 2024
Slide 1: Q4 and FY 2023 Earnings call presentation
| ¥ Redcare Q4 and FY 2023 Earnings call presentation. @SEVENUM! 05 MARCH 2024 _)
Slide 2: Presenting live from our headquarters
»*: Presenting live from our headquarters.
Slide 3: Today's presenters
Today’s presenters. Olaf Heinrich, Jasper Eenhorst, Chief Executive Officer. Chief Financial Officer.
Slide 4: Today's agenda
Today’s agenda. 669 OS Highlights of 2023. Business performance 2023. Strategy update and outlook 2024. Finance outlook and guidance 2024. 5
Slide 5: Highlights of 2023
Highlights of 2023. > aN @)
Slide 6: Highlights of 2023
Highlights of 2023. > Guidance fully achieved. Across all elements, with record sales and major margin improvements. > More than 10 million active customers reached. Thanks to comprehensive services and offerings as the one- stop pharmacy for Europe. > New corporate brand successfully launched. Intr
Slide 7: Highlights of 2023
Highlights of 2023. . er . MSCI > Progress in sustainability driven forward. ESG RATINGS MSCI AAA Rating for sustainability. eee Recycled packaging material share increased to 93%. > Strategic partnership with Galenica established. Combination of online expertise and proficiency with specialty Rx le
Slide 8: Business performance 2023
Business performance 2023.
Slide 9: Financial highlights 2023
@ FINANCIAL HIGHLIGHTS 2023 Ambitious guidance fully met. >» Fast total and organic growth. Total sales up 62% in Q4 and 49% FY (excl. MediService: 23% in Q4 and 24% FY). Non-Rx growth of 23% in Q4 and 25% FY. >» Efficiency gains drive EBITDA. Adj. EBITDA 3.1% in Q4, 3.0% FY (3.7 pp better vs. prior
Slide 10: Continued fast growth across the Group
Continued fast growth across the Group. Total DACH International +49.4% i EUR 345M EUR 1,204M FY 2022 FY 2023 FY 2022 FY 2023 FY 2022 FY 2023 10 |
Slide 11: Active customers +1.5M, with an increased basket
Active customers +1.5M, with an increased basket. Number of customers (NPs) & 7 *0.3M Wot just team Net Promoter Score for you... , FY 2023 (2022: 72) +0.4M wy 10.8M © 9.3M “eM € 59.40 Average Shopping Basket Value Dec 2022 Dec 2023 FY 2023 (2022: 58.28) 1 I]
Slide 12: Non-financial KPIs
@ NON-FINANCIAL KPIs Fast increase of orders every year; over 29M in 2023. Share of repeat orders in percentage of total 42 40 40 82% 9 79% | s3% ai Q2 Q3 2020 4.4 83% Q4 5.1 81% ai Number of orders in millions 5.5 62 68 56 47 4a 81% 83% 95% 82% gz, 81% Q2 Q@3 @4 fern Q2 Q3 2021 2022 Orders: sales t
Slide 13: Key financials | Profit & loss
@ KEY FINANCIALS | PROFIT&LOSS _) Adj. EBITDA up EUR 61M; growth, efficiency and scale. MediService included since mid-Q2. Q4 FY Se 2022 2023 Better of 2022 2023 Better of Sales 328 531 62.1% 1,204 1,799 49.4% Gross profit margin 27.8% 22.8% (5.0) pp 27.5% 24.5% (3.0) pp Selling & distribution margi
Slide 14: Adj. EBITDA +3.7 pp, DACH margin more than doubled
@ KEY FINANCIALS | PROFIT &LOSS ) Adj. EBITDA +3.7 pp, DACH margin more than doubled. Total Redcare DACH segment International Segment 3.0% f? 1.9% FY 2022 FY 2023 SOs FY 2022 FY 2023 FY 2022 FY 2023 -9.8% 14
Slide 15: Key financials | Gross profit margin
@ KEY FINANCIALS | GROSS PROFIT MARGIN ) Fundamental improvement of 0.6 pp in gross profit margin. Adjusted gross profit margin in percentage of sales 0.6 (0.4) e.4 27.5% FY 2022 Product Margin Country / Other (incl. Mix) Rx-OTC Mix 15 MediService 27.8% Q4 2022 Q4 2023 Q4 2023 including MediService
Slide 16: Key financials | Selling & distribution ratio
@ KEY FINANCIALS | SELLING & DISTRIBUTION RATIO ) Selling and distribution as percent of sales improved 3 pp. Adjusted S&D costs in percentage of sales @.4 (24.8%) 2.2 0.3 0.4 FY 2022 Marketing Shipping and Operational Packaging Labour 16 Other (21.8%) FY 2023 (18.7%) FY 2023 including MediService (
Slide 17: Key financials: Cash flow
@ KEY FINANCIALS: CASH FLOW Free cash flow EUR +8M, total cash balances EUR +24M. Cash flow in millions of euros 48 180 31 Dec 2022 Cash and Operating result short-term adjusted for financial assets depreciation, taxes and provisions 17 Working capital Investments movements 16 204 31 Dec 2023 Financ
Slide 18: Strategy update and outlook 2024
strategy update and outlook 2024.
Slide 19: Strengthening our European online pharmacy leadership
@ STRATEGY UPDATE AND OUTLOOK 2024 ) Strengthening our European online pharmacy leadership. > 19 Drive growth of our strong core non-Rx business, comprising OTC and BPC products as well as own brands. Unlock the success of our platform strategy through the expansion of NOW! and marketplace to other
Slide 20: 100.000.000 1.400.000 90.000.000 1.260.000 80.000.000 1.120.000 70.000.000 980.000 60.000.000 840.000 50.000.000 700.…
100.000.000 1.400.000 90.000.000 1.260.000 80.000.000 1.120.000 70.000.000 980.000 60.000.000 840.000 50.000.000 700.000 40.000.000 560.000 30.000.000 420.000 20.000.000 280.000 10.000.000 140.000 0 0
Slide 21: Best positioned for e-Rx
@ STRATEGY UPDATE AND OUTLOOK 2024 ) Best positioned for e-Rx. Fully digital version on its way. eGK without PIN. 21 *) Based on decision by gematik shareholders 12 Dec. by |
Slide 22: Status quo on eHealth-CardLink
@ STRATEGY UPDATE AND OUTLOOK 2024 ) Status quo on eHealth-CardLink. Process by gematik (41-157 DECEMBER 2023») (25TH JANUARY 2024) Shareholders’ meeting: Second pre-release of Final release of Mobile use of eHealth card specifications by specifications by without PIN to be specified; gematik. gemat
Slide 23: eHealth-CardLink: It's as easy as ABC
@ STRATEGY UPDATE AND OUTLOOK 2024 ) eHealth-CardLink: It’s as easy as ABC. Rozopte Welche Art von Rezept machten Sle einlécen? © Sofunktioniert ex Das €-Rezept ist auf meiner Gosundhettskarte hintortegt leh habe einen E-Rezept-Auschuck erhalten ~ 23 << Turuek E-Rezapte abrufan Abbrechen Legen Sis r
Slide 24: Finance outlook and guidance 2024
Finance outlook and guidance 2024.
Slide 25: Financial outlook and guidance 2024
@ FINANCIAL OUTLOOK AND GUIDANCE 2024 _) Continued very fast growth expected. >» Strength across all our seven countries driving sales and solid margins. > First year of full e-Rx (electronic prescriptions) implementation in DACH (Germany). > (E)-Rx in 2024 too dynamic to give precise guidance. 25
Slide 26: Guidance for full-year 2024
@ FINANCIAL OUTLOOK AND GUIDANCE 2024 _) Guidance for full-year 2024. > Total sales to increase to EUR 2.3-2.5 billion, a growth of 30-40%. > Non-Rx sales growth 15-25%. >» MediService expected to grow by mid-single digits. > Adj. EBITDA margin 2% to 4%. @ Mid- to longer-term guidance of adjusted EB
Slide 27: Questions
¥ Redcare questions. ask
Slide 28: Annual Report 2023 can be downloaded on our website
Annual Report 2023 can be downloaded on our website: www. irr re-pharmi m @SEVENUM | 05 MARCH 2024 ) ¥ Redcare