Redcare Phamacy Unsp/Adr (SAEYY) Q2 2025 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 today's agenda. So first of all, we would like to talk about financial performance, then an update on Rx regulatory landscape, then an Rx update on our Rx development, and then by the end, an outlook and guidance for the remaining part of the year. If we go to the next slide, you can start with the financial performance. Group sales are up 27% year over year. So we are showing a continued strong growth. It's fully organic and it's in both areas, non-RX and RX. Also in non-RX, we are showing a growth of 18%, 60% in the DACH region and 26% in the international segment. Overall and particularly in Germany with strong market share gains. So if we look into the German market and we can see, especially in Q2 of this year, that our competition and also brick and mortar is almost flat in sales. So we are really lucky to report a continued growth and showing our strength in that region and in that market. Also fast year over year growth on RX sales in Germany, 155% compared to the first half of last year. And looking into the EBITDA, we now draw an adjusted EBITDA of 1.9%. It's a doubling from the margin from Q1, which was 1.3 to 2.6 in Q2. Also, we worked on our balance sheet. Now we have a much more robust balance sheet. We successfully launched a convertible bond of 300 million at the beginning of April. and also bought back already 70% of the existing convertible bond. And Jasper will talk about this probably a little bit later. And then also we confirm our full year guidance on all elements. If we go to the next slide, we can see this is our breakdown by regions. Again, a total growth of 27.3%. In DACH, we are growing slightly. higher at 27.5 than international...