Redcare Pharmacy N.v. · XETR:RDC
Redcare Pharmacy — Q1 2021 Earnings Presentation
27 slides from Redcare Pharmacy's earnings presentation, May 6, 2021
Slide 1: Q1 2021 Earnings Call Presentation
Q1 2021 EARNINGS CALL PRESENTATION. SEVENUM, 06 MAY 2021
Slide 2: Presenting from our headquarters in Sevenum
2 PRESENTING FROM OUR HEADQUARTERS IN SEVENUM. STEFAN FELTENS, CEO. JASPER EENHORST, CFO.
Slide 3: Today's Agenda
3 TODAY‘S AGENDA. FINANCIAL PERFORMANCE. UPDATE ON BUSINESS AND STRATEGY. Q&A.
Slide 4: Q1 2021 Highlights
4 ! ANOTHER QUARTER OF STRONG GROWTH. GROWTH OF 22.4% TO EUR 284M IN Q1; INTERNATIONAL UP 71%, DACH UP 15%. ! EARNINGS IN LINE WITH GUIDANCE. ADJ. EBITDA MARGIN AT A POSITIVE 2.0% – HIGHLIGHTS DRIVEN BY A HIGHER GROSS PROFIT MARGIN. Q1 ! RECORD YEAR-OVER-YEAR CUSTOMER GROWTH. 2021 BASE OF ACTIVE CUS
Slide 5: Continued organically driven growth
5 KEY FINANCIALS. CONTINUED ORGANICALLY DRIVEN GROWTH. INTERNATIONAL UP 71 %; DACH UP 15 %. Q1 TOTAL SHOP APOTHEKE EUROPE Q1 DACH Q1 INTERNATIONAL sales | vs. prior year sales | vs. prior year sales | vs. prior year in EUR million in EUR million in EUR million +22% +15% 284.1 232.0 +71% 230.1 200.1
Slide 6: Active customer base up 1.8 million
6 ACTIVE CUSTOMER BASE UP 1.8 MILLION. CUSTOMER NET PROMOTER SCORE VERY STRONG AGAIN. Number of active customers in million +1.8M 6.8M NET PROMOTER SCORE (NPS). (Q4 2020: 70) 71 5.0M EUR Q1 2020 Q1 2021 AVERAGE SHOPPING BASKET VALUE. (Q1 2020: EUR 65.15) 63.52
Slide 7: Web traffic growth continues above pre-corona level
7 KPIs. WEB TRAFFIC GROWTH CONTINUES ABOVE PRE-CORONA LEVEL. Weekly website visits 7,000,000 140% (desktop & mobile) 6,000,000 120% 5,000,000 100% 4,000,000 80% 3,000,000 60% YOY growth 2,000,000 40% (%) 1,000,000 20% Total (visits web traffic) 0 0% 01-2020 12-2020 24-2020 36-2020 48-2020 01-2021 12
Slide 8: More than 5 million orders in just one quarter
8 KPIs. MORE THAN 5 MILLION ORDERS IN JUST ONE QUARTER. CONTINUED HEALTHY MIX OF CUSTOMER LOYALTY AND NEW CUSTOMERS. Number of orders $"&!! in thousands ɋ ɋ ɋ ɋ ɋ ɋ ɋ ɋ ɋ ɋ ɋ ɋ ɋ ɋ *"*%& ɋ ɋ *"&'& *"%#& *"%#$ ɋ !"&#+ !"#$$ #"))* #"(&( #"*(+ #"%'+ #"&!' &")'& &"$$# &"*&) &"!+$ &"!(( Share of repeat o
Slide 9: Adj. EBITDA margin 2.0%
9 KEY FINANCIALS. ADJ. EBITDA MARGIN 2.0 %. INVESTMENTS IN GROWTH AND BETTER GROSS PROFIT. in EUR million Q1 2021 YTD vs. Q1 2020 Q3 Q1 2021 vs. Q4 2020 better/ better/ Q1 2020 Q1 2021 Q4 2020 Q1 2021 (worse) (worse) Sales 232.0 284.1 22% 264.7 284.1 7% Gross profit margin 21.5% 25.6% 4.1 pp 23.6% 2
Slide 10: Gross margin improved by 4.1 percentage points
10 KEY FINANCIALS. GROSS MARGIN IMPROVED BY 4.1 PERCENTAGE POINTS. Gross profit margin 1.1% in percentage 1.3% of sales 1.4% 0.3% 25.6% 21.5% Net Pricing/ Country/ Other and Q1 2020 Sourcing Q1 2021 Product Mix Rx-OTC Mix SMARTPATIENT
Slide 11: Selling & distribution expenses up
11 KEY FINANCIALS. SELLING & DISTRIBUTION EXPENSES UP. TEMPORARY OPERATION OF TWO LOGISTICS CENTRES. Selling & distribution costs in percentage (0.2%) of sales (0.6%) (0.3%) (2.7%) (20.7%) (16.9%) Shipping, Operational Other and Q1 2020 Marketing Packaging and Q1 2021 Labour SMARTPATIENT Payments
Slide 12: Cash and cash equivalents well above EUR 300 million
12 KEY FINANCIALS. CASH AND CASH EQUIVALENTS WELL ABOVE EUR 300 MILLION. 341 OPERATING CASH FLOW EUR 30 MILLION. Inflow from a positive EBITDA and favourable working capital movements. 236 128 5 25 (53) INVESTMENTS EUR 53 MILLION. Acquisitions of SMARTPATIENT and MEDAPP, finalisation of new logistic
Slide 13: Today's Agenda
13 TODAY‘S AGENDA. FINANCIAL PERFORMANCE. UPDATE ON BUSINESS AND STRATEGY. Q&A.
Slide 14: From a pure online retailer to Europe's leading e-pharmacy platform
14 FROM A PURE ONLINE RETAILER … … TO EUROPE‘S LEADING CUSTOMER-CENTRIC E-PHARMACY PLATFORM.
Slide 15: Shop Apotheke Europe today: leading positions across Europe
15 SHOP APOTHEKE EUROPE TODAY. LEADING POSITIONS ACROSS EUROPE. ! GROWTH DRIVEN BY CUSTOMER SATISFACTION. ! CONTINUOUS INCREASE OF OUR CUSTOMER BASE. 6.8M 4.0M 5.0M 2.0M 2.7M 1.4M Q1 2016 Q1 2017 Q1 2018 Q1 2019 Q1 2020 Q1 2021 ! NPS CONSISTENTLY HIGH AND GROWING ACROSS NPS: 71 ALL COUNTRIES.
Slide 16: Strategic milestones achieved in Q1
16 BEST PREPARED FOR TOMORROW. STRATEGIC MILESTONES ACHIEVED IN Q1. ! EXPERTISE IN DIGITAL MEDICATION MANAGEMENT STRENGTHENED BY THE ACQUISITION OF SMARTPATIENT. ! CAPACITY: AUTOMATION IN OUR NEW LOGISTICS CENTRE RAMPED UP IN JANUARY. ! FURTHER EXPANSION OF E-RX BUSINESS BY ENTERING THE DUTCH MARKET
Slide 17: Expansion of digital health services and portfolio extension
17 A PERFECT FIT FOR OUR EUROPEAN GROWTH STRATEGY. EXPANSION OF DIGITAL HEALTH SERVICES AND PORTFOLIO EXTENSION INTO PRESCRIPTION DRUGS IN THE NETHERLANDS.
Slide 18: E-Rx in Germany is just a stone's throw away
18 E-RX IN GERMANY IS JUST A STONE’S THROW AWAY. WE‘RE PREPARED FOR THE NEXT STEP TO FURTHER INCREASE CUSTOMER SATISFACTION.
Slide 19: Supervisory board changes
19 WELCOME HENRIETTE PEUCKER. SUPERVISORY BOARD CHANGES. PER THIS YEAR‘S AGM ON APRIL 21. ! JAN PYTTEL: RETIREMENT FROM SUPERVISORY BOARD. ! BJÖRN SÖDER: NEW CHAIR. ! HENRIETTE PEUCKER: NEW SUPERVISORY BOARD MEMBER.
Slide 20: Guidance 2021
20 GUIDANCE 2021. CONTINUED FAST GROWTH AND MARGIN EXPANSIONS. Full-year organically driven sales growth: around 20% or more. Full-year adjusted EBITDA margin: in the range of 2.3% to 2.8%. Full-year CAPEX: around 3.5% of sales. Long-term target profitability: unchanged, in excess of 6% EBIT.
Slide 21: Today's Agenda
21 TODAY‘S AGENDA. FINANCIAL PERFORMANCE. UPDATE ON BUSINESS AND STRATEGY. Q&A.
Slide 22: Q&A Session
22 Q&A SESSION. ? IF YOU WANT TO ASK QUESTIONS... PLEASE MUTE THE WEBCAST. DIAL IN FROM YOUR PHONE. LOCATIONS. PHONE NUMBERS. GERMANY, Frankfurt +49 (0) 69 2 22 22 55 74 UK, LOCAL +44 (0) 33 03 36 91 05 USA, Los Angeles +1 323-994-2131 Confirmation Code: 1354059 Press * 1 to ask questions.
Slide 23: Thank you
SHOP APOTHEKE 23
Slide 24: Consolidated Segment Financials
24 CONSOLIDATED SEGMENT FINANCIALS. CONSOLIDATED SEGMENT FINANCIALS. CONSOLIDATED SEGMENT FINANCIALS. Segment information Q1 2021 ñ non≠ adjusted and adjusted Segment information Q1 2020 ñ non≠ adjusted and adjusted . Segment information Q1 2021 – non-adjusted and adjusted. Segment information Q1 20
Slide 25: Consolidated Statement of Profit and Loss
25 CONSOLIDATED STATEMENT UNAUDITED CONSOLIDATED STATEMENT OF PROFIT AND LOSS. OF PROFIT AND LOSS. Period ended Period ended March 31 2021 March 31 2020 in EUR 1,000 in EUR 1,000 Revenue 284,054 231,986 Cost of sales ñ 211,204 ñ 182,075 Gross profit 72,850 49,911 Other income !# 4 Selling and distri
Slide 26: Consolidated Statement of Financial Position
March 31 2021 Dec. 31 2020 in EUR 1,000 in EUR 1,000 Assets 26 Non≠ current assets 2021 Interim Statement Q1 SHOP APOTHEKE EUROPE Appendix. !" 17 2021 Interim Statement Q1 SHOP APOTHEKE EUROPE Appendix. !" 17 Property, plant and equipment 77,792 74,545 Intangible assets 283,464 204,661 CONSOLIDATED
Slide 27: Consolidated Statement of Cash Flows
Result from operations ñ 2,421 508 Adjustments for: ñ D epreciation and amortisation of non≠ current assets 5,457 3,352 ñ C orporate income tax ñ 65 27 0 2021 Interim Statement Q1 SHOP APOTHEKE EUROPE Appendix. !" 19 ñ Shar e≠ based payment charge for the period 1,725 EUROPE 2021 Interim Statement Q