Slide 1: Q2 2021 Earnings Call Presentation
Q2 2021 EARNINGS CALL PRESENTATION. SEVENUM, 05 AUGUST 2021
Slide 2: Welcome from our headquarters in Sevenum
2 Q2 EARNINGS CALL. WELCOME FROM OUR HEADQUARTERS IN SEVENUM. JASPER EENHORST, CFO. STEFAN FELTENS, CEO.
Slide 3: Today's Agenda
3 TODAY‘S AGENDA. 23 4 UPDATE ON LOGISTICS. FINANCIAL PERFORMANCE. UPDATE ON BUSINESS AND STRATEGY. Q&A.
Slide 4: Update on Logistics
4 UPDATE ON LOGISTICS. • MOVE OF INTERNATIONAL SHIPPINGS TO NEW BUILDING IN SEVENUM IN OCTOBER 2020. • RECORD SALES IN Q4 2020 AND Q1 2021. • START OF AUTOMATION IN JANUARY 2021. • MOVE OF DACH SHIPPINGS TO NEW LOGISTICS CENTRE IN MAY 2021. • SHORTAGE OF PEOPLE IN Q2.
Slide 5: Update on Logistics
5 UPDATE ON LOGISTICS. • MEASURES ALREADY TAKEN TO SOLVE SHORTAGE OF MANPOWER. • STABILISATION OF ORDER PROCESSING CAPACITY. • COMPLETION OF THE ENTIRE MOVE TO OUR NEW LOGISTICS CENTRE END OF Q3. READY FOR E-RX AND TOMORROW’S DEMAND.
Slide 6: Today's Agenda
6 TODAY‘S AGENDA. 23 4 UPDATE ON LOGISTICS. FINANCIAL PERFORMANCE. UPDATE ON BUSINESS AND STRATEGY. Q&A.
Slide 7: Key Facts H1 / Q2 2021
7 KEY FACTS H1. • GROWTH IN Q2 TEMPORARILY DECELERATED. SALES INCREASE OF 15% TO EUR 534M IN H1; INTERNATIONAL UP 44%, DACH UP 10%. • POSITIVE ADJ. EBITDA. KEY FACTS ADJ. EBITDA MARGIN AT 1.3%. Q2 • CONTINUING STRONG CUSTOMER GROWTH. 2021 BASE OF ACTIVE CUSTOMERS UP 1.6M VS. LAST YEAR. • STRONG CASH
Slide 8: Growth continued in both segments
8 KEY FINANCIALS. GROWTH CONTINUED IN BOTH SEGMENTS. INTERNATIONAL UP 44%; DACH UP 10%. H1 TOTAL SHOP APOTHEKE EUROPE H1 DACH H1 INTERNATIONAL sales | vs. prior year sales | vs. prior year sales | vs. prior year in millions of euros in millions of euros in millions of euros +15% +10% 534.4 464.7 +44
Slide 9: Seven million mark exceeded
9 ACTIVE CUSTOMER BASE. SEVEN MILLION MARK EXCEEDED. Number of active customers in million +1.6M 7.1M NET PROMOTER SCORE (NPS). (H1 2020: 70) 68 5.5M EUR H1 2020 H1 2021 AVERAGE SHOPPING BASKET VALUE. (H1 2020: EUR 65.33) 62.57
Slide 10: Customer Net Promoter Score recovering
10 KPIs. CUSTOMER NET PROMOTER SCORE RECOVERING. Weekly NPS development 2021 75 71 70 65 Weekly NPS 60 s 01-13 14-26 27-30 55 71 65 NPS score 50 Q1 Q2 CW 27-30 Source: SHOP APOTHEKE EUROPE.
Slide 11: Purposeful slowdown of web traffic
11 KPIs. PURPOSEFUL SLOWDOWN OF WEB TRAFFIC. Weekly 140% website visits 8,000,000 (desktop & mobile) 120% 7,000,000 100% 6,000,000 5,000,000 80% 4,000,000 60% 3,000,000 40% Growth year-over- year (%) 2,000,000 20% 1,000,000 Total traffic number 0 0% 01-2021 48-2020 36-2020 24-2020 25-2021 01-2020 12
Slide 12: Close to ten million orders in H1
12 KPIs. CLOSE TO TEN MILLION ORDERS IN H1. CONTINUED HEALTHY MIX OF CUSTOMER LOYALTY AND NEW CUSTOMERS. Number of orders in thousands Share of repeat orders in percentage of total Source: SHOP APOTHEKE EUROPE.
Slide 13: EUR 534M sales and EUR 6.9M adj. EBITDA
13 KEY FINANCIALS. EUR 534M SALES AND EUR 6.9M ADJ. EBITDA. in millions of euros H1 2021 YTD vs. H1 2020 Q3 Q2 2021 vs. Q2 2020 better/ better/ H1 2020 H1 2021 Q2 2020 Q2 2021 (worse) (worse) Sales 464.7 534.4 15% 232.7 250.4 8% Gross profit margin 22.5% 25.5% 3.0pp 23.5% 25.4% 1.9 pp Adj. selling &
Slide 14: Gross margin up 3.0 percentage points
14 KEY FINANCIALS. GROSS MARGIN UP 3.0 PERCENTAGE POINTS. Gross profit margin 0.9% in percentage of sales 1.2% 0.6% 0.3% 25.5% 22.5% Net Pricing/ Country/ Other and H1 2020 Sourcing H1 2021 Product Mix Rx-OTC Mix Acquisitions Footnote
Slide 15: Higher marketing investments to boost growth
15 KEY FINANCIALS. HIGHER MARKETING INVESTMENTS TO BOOST GROWTH. Selling & distribution costs in percentage (0.4%) of sales (0.4%) (0.4%) (2.5%) (21.2%) (17.5%) Shipping, Operational H1 2020 Marketing Packaging and Other H1 2021 Labour Payments
Slide 16: Solid cash position
16 KEY FINANCIALS. SOLID CASH POSITION. 327 OPERATING CASH: EUR +25 MILLION. Inflow from a positive EBITDA and favourable working capital movements. 235 128 5 20 (61) INVESTMENTS: EUR 61 MILLION. Business acquisitions in Q1, new logistics centre in Sevenum, regular PP&E and IT. FINANCING: EUR +235 M
Slide 17: Today's Agenda
17 TODAY‘S AGENDA. 23 4 UPDATE ON LOGISTICS. FINANCIAL PERFORMANCE. UPDATE ON BUSINESS AND STRATEGY. Q&A.
Slide 18: From a pure online retailer to Europe's leading e-pharmacy platform
18 FROM A PURE ONLINE RETAILER … … TO EUROPE‘S LEADING CUSTOMER-CENTRIC E-PHARMACY PLATFORM.
Slide 19: Update on same-day delivery service
19 Hamburg UPDATE ON SAME-DAY Bremen DELIVERY SERVICE. Hannover Berlin Ruhrgebiet Leipzig • NOW AVAILABLE IN ALL METROPOLITAN Rheinland AREAS ACROSS GERMANY. Dresden • REACHING MORE THAN 20 MILLION PEOPLE. • IDEAL SERVICE ESPECIALLY FOR ACUTE Frankfurt Nürnberg MEDICATION NEEDS. Augsburg Stuttgart M
Slide 20: Update on e-Rx
20 UPDATE ON E-RX. • E-RX LAUNCHED IN GERMANY BY GEMATIK IN A TEST ENVIRONMENT ON JULY 1. • OUR FRONT- AND BACKEND READY TO RECEIVE E-PRESCRIPTIONS. FULLY PREPARED FOR A FUTURE WITH E- PRESCRIPTIONS.
Slide 21: e-Rx roll-out by gematik in Q3
21 E-RX ROLL-OUT BY GEMATIK IN Q3. NATIONWIDE IMPLEMENTATION SCHEDULED FOR Q4. Test phase design in Berlin- PHASES HYPER CARE EXTENDED CARE ENHANCED CARE NATIONWIDE ROLL-OUT Brandenburg (Q3) 120 120 100 80 60 40 50 Number of pharmacies. 20 Number of physicians. 0 1 1 Source: 01 July, 2021 19 July, 2
Slide 22: 2021 Guidance per July
22 2021 GUIDANCE PER 22 JULY. UPDATED DUE TO TEMPORARY CAPACITY CONSTRAINTS. Full-year organically driven sales growth: 10-15%. Full-year adjusted EBITDA margin: in the range of break-even level. Full-year CAPEX: around 45M. Long-term target profitability: unchanged, in excess of 6% EBIT.
Slide 23: Today's Agenda
23 TODAY‘S AGENDA. 23 4 UPDATE ON LOGISTICS. FINANCIAL PERFORMANCE. UPDATE ON BUSINESS AND STRATEGY. Q&A.
Slide 24: Thank you!
SHOP APOTHEKE EUROPE Thank you!
Slide 25: Consolidated Segment Financials
25 CONSOLIDATED SEGMENT FINANCIALS. . Segment information H1 2021 – non-adjusted and adjusted. Segment information H1 2020 – non-adjusted and adjusted.
Slide 26: Consolidated Statement of Profit and Loss
26 CONSOLIDATED STATEMENT OF PROFIT AND LOSS.
Slide 27: Consolidated Statement of Financial Position
27 CONSOLIDATED STATEMENT OF FINANCIAL POSITION.
Slide 28: Consolidated Statement of Cash Flows
28 CONSOLIDATED STATEMENT OF CASH FLOWS. * the comparative figures of the cash flow statement for the interim period HY1-2020 have been adjusted. Last year's numbers showed the movement in bank overdraft of EUR – 10,131 as part of the movements in working capital. According to IAS 7.8 the bank overd