Redcare Pharmacy N.v. · XETR:RDC
Redcare Pharmacy — Q1 2022 Earnings Presentation
18 slides from Redcare Pharmacy's earnings presentation, May 5, 2022
Slide 1: Q1 2022 Earnings Call Presentation
Q1 2022 EARNINGS CALL PRESENTATION. SEVENUM, 05 MAY 2022
Slide 2: Live from our headquarters in Sevenum
2 LIVE FROM OUR Q1 2022 EARNINGS CALL 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. OUTLOOK AND GUIDANCE.
Slide 4: Financial Performance
wtegy SHOP APOTHEKE FINANCIAL Uae PERFORMANCE.
Slide 5: Highlights
5 HIGHLIGHTS. • DOUBLE-DIGIT GROWTH IN EVERYTHING-BUT-RX CONTINUES. UP 15%, ON TRACK FOR FULL-YEAR GUIDANCE WITH SIGNIFICANT MARKET SHARE GAINS. RX SALES STABLE QUARTER-OVER-QUARTER. • ADJ. EBITDA EUR -4M. MARGIN AT -1.4%, 2.1PP BETTER THAN PRIOR Q4. ON TRACK FOR FULL YEAR GUIDANCE –OFFSETTING IMPAC
Slide 6: Key Financials: DACH and International sales
6 KEY FINANCIALS. DACH / EVERYTHING-BUT-RX +10%, INTERNATIONAL UP +30%. 3M TOTAL SHOP APOTHEKE EUROPE 3M DACH 3M INTERNATIONAL sales | vs. prior year sales | vs. prior year sales | vs. prior year in EUR million in EUR million in EUR million +1.9% +7.3% Non-Rx: +10.1% +30.9% Rx: -32.6% 304.8 235.0 28
Slide 7: Record level of Net Promoter Score
7 ACTIVE CUSTOMER BASE: FAST GROWTH WITH HAPPY CUSTOMERS CONTINUES. RECORD LEVEL OF NET PROMOTER SCORE. Number of active customers in million +1.5M NET PROMOTER SCORE (NPS). (Q1 2021: 71) 73 8.3M 6.8M € 56.80 31 MAR 2021 31 MAR 2022 AVERAGE SHOPPING BASKET VALUE. (Q1 2021: EUR 63.52)
Slide 8: Fast growth of traffic continues at around 30%
8 EVERY WEEK, 7 TO 8 MILLION VISITS TO OUR WEBSITES AND APPS. FAST GROWTH OF TRAFFIC CONTINUES AT AROUND 30%. Weekly website visits 100% 9 (desktop & mobile) 8 80% Visits in million 7 60% 6 40% 5 4 20% Growth year-over- year (%) 3 0% 2 Total traffic number -20% 1 Source: SHOP APOTHEKE EUROPE.
Slide 9: Strong order growth
9 STRONG ORDER GROWTH. MORE THAN 6M ORDERS IN ONE QUARTER FOR THE FIRST TIME. Number of orders in thousands Share of repeat orders in percentage of total Source: SHOP APOTHEKE EUROPE.
Slide 10: Sales EUR 305M, adj. EBITDA margin -1.4%
10 KEY FINANCIALS. SALES EUR 305M, ADJ. EBITDA MARGIN -1.4%. WITHIN FULL YEAR GUIDANCE. Adjusted numbers Q1 2021 Q1 2022 Better/(Worse) Q4 2021 Q1 2022 Better/(Worse) in million of euros Sales 284 305 7.3% 288 305 5.8% Gross profit margin 25.6% 26.6% 1.0 pp 24.6% 26.6% 2.0 pp Selling & distribution
Slide 11: Gross margin improvements continue, up 1.0 pp
11 KEY FINANCIALS. GROSS MARGIN IMPROVEMENTS CONTINUE, UP 1.0 PP. Gross profit margin in percentage of sales 0.8% 26.6% 0.7% 25.6% 0.6% (1.1%) Net Pricing/ Country/ Q1 2021 Sourcing Other Q1 2022 Product Mix Rx-OTC Mix
Slide 12: S&D 25% of sales
12 KEY FINANCIALS. S&D 25% OF SALES CYCLING LAST YEAR‘S FULL LOCK-DOWN QUARTER. Selling & distribution costs in percentage (0.4%) (0.5%) of sales (1.0%) (2.4%) (20.7%) (25.0%) Shipping and Operational Q1 2021 Marketing Other Q1 2022 Packaging Labour
Slide 13: Robust cash position
13 KEY FINANCIALS. ROBUST CASH POSITION. OPERATING CASH: EUR +24 MILLION. Favourable working capital change thanks to continued improvement actions, and seasonality. (12) (3) 291 30 282 (6) INVESTMENTS: EUR -12 MILLION. Mainly IT. FINANCING: EUR -3 MILLION. CASH AND Interest and lease payments. CASH
Slide 14: Update on Strategy and Business
14 UPDATE ON STRATEGY AND BUSINESS.
Slide 15: E-Rx in Germany further progressing
15 E-RX IN GERMANY FURTHER PROGRESSING. • CONCLUSION OF GEMATIK TEST PHASE WHEN PREDEFINED QUALITY CRITERIA ARE MET. • 13,167 OF 30,000 E-PRESCRIPTIONS ISSUED*. • TEST PHASE PROBABLY FINISHED IN Q3. THE E-RX OPPORTUNITY. ~1% ONLINE 20 – 25 % ONLINE *) As per 24 April 2022.
Slide 16: Acquisition of First A
16 ENTRY INTO THE GROWING QUICK-COMMERCE MARKET. ACQUISITION OF FIRST A. • INSTANT DELIVERY OF ORDERS WITHIN 30 MINUTES IN CO-OPERATION WITH LOCAL BRICK- AND MORTAR PHARMACIES. • COVERING ALL RELEVANT USE-CASES IN THE ONLINE-PHARMACY SPACE. • OPTIMISING OUR E-RX PROPOSITION. COMPLEMENTING SHOP APOTH
Slide 17: Guidance confirmed: Full year 2022
17 GUIDANCE CONFIRMED. FULL YEAR 2022 FOR OUR ONGOING BUSINESS. • 15 - 25% GROWTH OF NON-RX. • RX SALES – NO GUIDANCE FOR 2022, BUT PAPER-RX DECLINE BOTTOMED-OUT. • ADJ. EBITDA MARGIN -1.5% TO +1.5%. MID- TO LONG-TERM: • ADJ. EBITDA MARGIN IN EXCESS OF 8%. * Ongoing business: as at the time of issui
Slide 18: Thank you for your time
se; SHOP APOTHEKE THANK YOU FOR YOUR TIME.