Redcare Phamacy Unsp/Adr (SAEYY) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you very much and good morning to everybody and a very warm welcome from our side. Let's have a look into the agenda of today. First of all, we would like to talk about financial performance, then Rx and regulatory updates, and then guidance. If we start with the financial performance, let's look into the highlights of the Q1 of 2026. Our revenues are 18% year over year up, We show strength in both segments with 19% for DACH and 16% for international. Our active customer base reached 14.2 million, up 1.1 million year over year. And also our average basket size is up 9% year over year. Non-Rx revenue up 10% to 533 million. And then that's important and we will talk about this later. Growth in Germany accelerated from 5% in the Q4 of last year to 9% in Q1. Group Rx revenues are up 36% and in Germany 55% to 168 million. And also the ERX NPS further increased from 73 in Q4 of last year to now 76 in Q1 2026. Our adjusted EBITDA margin improved 0.4 percentage points year over year, reaching now 1.7%. Here we are fully on track to achieve our full year guidance. If we look into the segments, again, same number but some more details, 19.1% in the DACH segment, driven by 35.5% Rx and 8.1% non-Rx. Whereas in the international segment, we have 15.7% growth. Let us have now a more detailed look into the German market. Good news, overall we see a strong rebound in the German non-RX business. As explained in the March earnings call, we had two main reasons for the low growth in Q4 of last year. First of all, the very strong basis in Q4 of 24 due to the branding and marketing push and also softer markets. In Q1 of this year, we see an acceleration from 5% to 9% and an even further acceleration in April to 11%. Very good news. Main reason for the turnaround are adjustments in ...