Redcare Pharmacy N.v. · XETR:RDC
Redcare Pharmacy — Q2 2022 Earnings Presentation
20 slides from Redcare Pharmacy's earnings presentation, Aug 3, 2022
Slide 1: Q2 2022 Earnings Call Presentation
Q2 2022 EARNINGS CALL PRESENTATION. SEVENUM, 03 AUGUST 2022
Slide 2: Live from our headquarters in Sevenum
2 LIVE FROM OUR Q2 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 H1 2022
5 HIGHLIGHTS H1 2022. • FY TOP AND BOTTOM-LINE GUIDANCE CONFIRMED. H1 SALES UP 11% (15% in Q2 AFTER 7% in Q1). NON-RX GREW BY 16% IN H1 (Q2 18%). ADJ. EBITDA MARGIN FOR ONGOING BUSINESS AT -1.5%. • POSITIVE OPERATING CASH FLOW AT EUR 15M IN H1. CONTINUED FAVOURABLE WORKING CAPITAL MOVEMENTS. KEY FAC
Slide 6: Key Financials: Back to double-digit total sales growth
6 KEY FINANCIALS. BACK TO DOUBLE-DIGIT TOTAL SALES GROWTH. H1 TOTAL SHOP APOTHEKE EUROPE H1 DACH H1 INTERNATIONAL sales | vs. prior year sales | vs. prior year sales | vs. prior year in EUR million in EUR million in EUR million Non-Rx: Non-Rx +12.1% +29.5% +16.1% Rx: -20.0% 592.0 455.4 534.4 428.9 1
Slide 7: Net Promoter Score at record level in Q2
7 ACTIVE CUSTOMER BASE FAST APPROACHING 9M. NET PROMOTER SCORE AT RECORD LEVEL IN Q2. Number of active customers in million +1.5M NET PROMOTER SCORE (NPS). (Q2 2021: 65) 74 8.6M 7.1M € 57.96 30 JUN 2021 30 JUN 2022 AVERAGE SHOPPING BASKET VALUE. (Q2 2021: EUR 61.52)
Slide 8: Fast growth of our traffic continues
8 VISITS TO OUR WEBSITES AND APPS. FAST GROWTH OF OUR TRAFFIC CONTINUES. Weekly website visits 9 60% (desktop & mobile) 8 50% 7 40% 6 5 30% million 4 20% 3 Growth year-over- 10% year (%) 2 0% Total traffic number 1 0 -10% Q3 2021 Q4 2021 Q1 2022 Q2 2022 Source: SHOP APOTHEKE EUROPE.
Slide 9: High repeat order share reflects customer loyalty
9 DYNAMIC ORDER GROWTH: CLOSE TO 12 MILLION ORDERS PROCESSED IN H1. HIGH REPEAT ORDER SHARE REFLECTS CUSTOMER LOYALTY. Number of orders in thousands Share of repeat orders in percentage of total Source: SHOP APOTHEKE EUROPE.
Slide 10: Key Financials: Profit & Loss Overview
10 KEY FINANCIALS: PROFIT & LOSS OVERVIEW. H1 ADJ. EBITDA MARGIN OF -1.5%. INCLUDING COSTS FOR ITALIAN DISTRIBUTION CENTRE, MARKETPLACE EXPANSION & LAUNCH IN AUSTRIA. Adjusted numbers for the ongoing business Better/ Better/ H1 2021 H1 2022 Q2 2021 Q2 2022 (Worse) (Worse) in millions of euros Sales
Slide 11: Continued profitable fast-growing core DACH
11 CONTINUED PROFITABLE FAST-GROWING CORE. OWN BRANDS PAPER Rx DACH Non-Rx ACH SALES GROWTH OWN MARKETPLACE INTER- NATIONAL MEDAPP FIRST A ADJ. EBITDA MARGIN Sizes and exact places in the diagram are indicative only; bubble size indicative for the customer sales.
Slide 12: Key Financials: Gross Profit Margin
12 KEY FINANCIALS: GROSS PROFIT MARGIN. IMPROVEMENTS CONTINUE, UP 1.6 PP. Gross profit margin in percentage of sales 1.3% 27.1% 0.5% 0.4% Adjusted and 25.5% ongoing business (0.7%) Net Pricing/ Country/ H1 2021 Sourcing Other H1 2022 Product Mix Rx-OTC Mix
Slide 13: Key Financials: Selling & Distribution Ratio
13 KEY FINANCIALS: SELLING & DISTRIBUTION RATIO. LOWER AVERAGE BASKET. MARKETING INCREASE AS PLANNED. Selling & distribution costs in percentage (0.3%) of sales (1.1%) (0.4%) Adjusted and (2.5%) ongoing business (21.2%) (25.5%) Shipping and Operational H1 2021 Marketing Other H1 2022 Packaging Labou
Slide 14: Key Financials: Cash Flow
14 KEY FINANCIALS: CASH FLOW. POSITIVE OPERATING CASH FLOW; SOLID CASH BALANCE. OPERATING CASH: EUR +15 MILLION. Favourable working capital changes reflecting continued improvement 15 actions and seasonality. 282 259 INVESTMENTS: EUR -31 MILLION. 28 (31) (13) (7) Mainly IT, acquisition of FIRST A, M
Slide 15: Update on Strategy and Business
15 UPDATE ON STRATEGY AND BUSINESS.
Slide 16: Update E-Rx Germany
16 UPDATE E-RX GERMANY. LAUNCH OF E-RX IN GERMANY PHASE 1 PHASE 2 PHASE 3 • TEST PHASE MILESTONE OF 30,000 ELECTRONIC PRESCRIPTIONS SUCCESSFULLY REACHED IN JULY. • „MEANWHILE 100,000 E-SCRIPTS REDEEMED. BEST CONDITIONS FOR THE LAUNCH IN SEPTEMBER“. SUSANNE OZEGOWSKI, HEAD OF THE DIGITALISATION AND I
Slide 17: Opening of new distribution centre in Italy
17 OPENING OF NEW DISTRIBUTION CENTRE IN ITALY. • FIRST PARCEL SUCCESSFULLY PROCESSED AT THE BEGINNING OF JULY. • 100% OF ITALIAN ORDERS WILL BE SHIPPED FROM MILAN TO OUR ITALIAN CUSTOMERS THIS MONTH. • THE NEW DISTRIBUTION CENTRE WILL BETTER SERVE OUR FAST-GROWING ITALIAN BUSINESS AND REDUCE CO2 EM
Slide 18: Update on Shop Apotheke's Marketplaces
18 UPDATE ON SHOP APOTHEKE‘S MARKETPLACES. • LAUNCH OF MARKETPLACE IN AUSTRIA IN JULY WITH ALREADY MORE THAN 5,000 PRODUCTS – CONTINUOUSLY GROWING EVERY WEEK. • GERMAN MARKETPLACE WITH MORE THAN 40,000 PRODUCTS. • ATTRACTIVE UNIT ECONOMICS. HEALTH-RELATED CATEGORIES FOR MORE CHOICE, CUSTOMER SATISFA
Slide 19: Outlook and Guidance
wtegy SHOP APOTHEKE OUTLOOK AND GUIDANCE.
Slide 20: Guidance Confirmed
20 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