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Redcare Pharmacy N.V.
Quarterly Report • May 6, 2025
6219_rns_2025-05-06_525525ea-dad2-4b33-a50d-a191497fedc2.pdf
Quarterly Report
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Interim report
31 March 2025
| About Redcare Pharmacy. |
2 |
|---|---|
| Key Figures Q1 2025 | 3 |
| Interim Group Management Report | 4 |
| Business model, group structure and corporate governance | 4 |
| Business development | 4 |
| Segment performance | 7 |
| Assets, liabilities and financial position. | 8 |
| Risks and opportunities. | 9 |
| Important events during the reporting period | 9 |
| Events after the balance sheet date | 9 |
| Forecast. | 9 |
| Appendix. |
10 |
| Unaudited consolidated statement of profit and loss | 10 |
| Unaudited consolidated statement of financial position | 11 |
| Unaudited consolidated statement of cash flows | 12 |
| Segment information | 13 |
| Glossary | 17 |
| Contact. | 19 |
About Redcare Pharmacy.
Originally founded in 2001, Redcare Pharmacy (formerly known as SHOP APOTHEKE EUROPE) today is the leading e-pharmacy in Europe, currently active in seven countries: Germany, Austria, France, Belgium, Italy, the Netherlands and Switzerland.
Headquartered in Sevenum, close to the Dutch city of Venlo and in the heart of Europe, the company has locations in Cologne, Berlin, Munich, Tongeren, Warsaw, Milan, Lille and Eindhoven.
As the one-stop pharmacy of the future, Redcare Pharmacy offers over 13 million active customers a wide range of more than 250,000 products at attractive and fair prices. Besides OTC, nutritional supplements, beauty and personal care products as well as an extensive assortment of health related products in all markets, the company also provides prescription drugs for customers in Germany, Switzerland and the Netherlands.
Pharmaceutical safety is of top priority. Being a pharmacy at its core, Redcare stands for comprehensive pharmaceutical consultation service. Since care is at the heart of everything Redcare does, the company provides services for all stages of life and health. This ranges from its marketplaces to unique delivery options and medication management.
Redcare Pharmacy N. V. has been listed on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) since 2016.
3 About Redcare Pharmacy. Key Figures. Interim Group Management Report. Appendix.
Key Figures Q1 2025.
Interim Group Management Report.
Business model, group structure and corporate governance.
The statements made in the 2024 Annual Report regarding the business model, the group structure, the management system and the corporate governance practices still apply at the time of publication of this interim report.
Business development.
Consolidated revenues and results of operations.
Sales of prescription and non-prescription pharmaceuticals and pharmacy-related beauty and personal care products are subject to seasonal fluctuations, with demand for pharmaceuticals especially high during the first and fourth quarters of the year.
In the first quarter of 2025, Redcare Pharmacy N.V. continued to successfully execute its growth strategy, delivering strong operational and financial performance across all markets. Group revenue rose by 28.0% year over year to EUR 717.3 million (Q1 2024: EUR 560.2 million), supported by sustained momentum in both prescription (Rx) and non-prescription (non-Rx) product categories.
The number of active customers increased to 13.1 million as of 31 March 2025, representing a net gain of 0.6 million in the first quarter and 1.9 million year over year.
Order volume continued its upward trajectory, reaching 11.5 million in Q1 2025. The average shopping basket size (excluding MediService and platform sales) increased to EUR 62.44, up from EUR 58.92 in Q1 2024. The share of repeat orders rose to 89%, two percentage points above the prior-year level, while the return rate remained consistently low at below 1%.
| 2023 | 2024 | 2025 | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | |
| Site visits | 110.90 | 109.2 | 107.0 | 112.6 | 126.7 | 125.6 | 121.7 | 135.9 | 151.8 |
| Mobile visits | 83.1 | 82.5 | 79.4 | 85.1 | 98.1 | 96.7 | 92.3 | 102.8 | 116.2 |
| Mobile share | 75 % | 76 % | 74 % | 76 % | 77 % | 77 % | 76 % | 76 % | 77 % |
| Number of orders (million) | 7.5 | 7.1 | 7.0 | 7.8 | 8.9 | 8.7 | 8.8 | 10.1 | 11.5 |
| Repeat orders | 84 % | 84 % | 86 % | 87 % | 87 % | 87 % | 88 % | 88 % | 89 % |
| Return rate | 0.70 % | 0.70 % | 0.80 % | 0.80 % | 0.80 % | 0.70 % | 0.80 % | 0.60 % | 0.70 % |
| Active customers (million) | 9.7 | 10.1 | 10.5 | 10.8 | 11.2 | 11.5 | 11.9 | 12.5 | 13.1 |
| Average basket size | €57.90 | €58.90 | €60.20 | €60.60 | €58.92 | €59.68 | €61.84 | €63.16 | €62.44 |
Gross profit at Group level increased from EUR 130.9 million in the first quarter of last year to EUR 167.3 million this quarter, a growth rate of 27.8%. The consolidated gross margin stood at 23.3% (Q1 2024: 23.4%). While a lower share of MediService AG in total sales had a positive mix impact on the margin, a higher share of Rx sales in Germany and a different country mix had the opposite mix effect at Group level.
Adjusted selling and distribution (S&D) expenses for the Group came to EUR 139.3 million in Q1 (Q1 2024: EUR 103.1 million), or 19.4% of sales (Q1 2024: 18.4%). One of the drivers of the higher percentage was the investment in the growth of the Rx business in Germany.
Adjusted administrative costs totalled EUR 19.2 million (Q1 2024: EUR 16.1 million). As a percentage of sales, they decreased to 2.7% from 2.9% in the prior-year quarter, benefiting from scale efficiencies as the business continued to grow.
Adjusted EBITDA reached EUR 9.1 million, with a margin of 1.3% (Q1 2024: EUR 11.7 million; 2.1%). Versus prior quarter, Q4 2024, the adjusted EBITDA margin improved by 2 percentage points from -0.7% to 1.3%.
Depreciation expenses increased marginally at EUR 16.8 million (Q1 2024: EUR 16.3 million), reflecting continued investment activity. EBIT amounted to EUR –9.1 million (Q1 2024: EUR –5.7 million).
Net financial costs and income taxes remained stable year over year at EUR –2.5 million.
Segment performance.
DACH segment.
In Q1 2025, the DACH region – Redcare Pharmacy's largest segment by revenue, covering the businesses in Germany, Austria and Switzerland – recorded year-over-year growth of 28.5%. Revenues rose to EUR 582.5 million, up from EUR 453.4 million in Q1 2024. Prescription (Rx) sales in Germany showed the most dynamic development, increasing by 191.3% year over year in the first quarter. Non-prescription (non-Rx) sales also delivered strong double-digit growth with an average increase of 17.4%.
Gross profit increased by 27.0% to EUR 132.2 million, corresponding to a gross margin of 22.7% (Q1 2024: EUR 104.1 million; 23.0%). The slight decrease in gross margin was primarily driven by the shift in the Rx / non-Rx sales mix, as Rx sales in Germany grew significantly faster than OTC sales. Adjusted EBITDA amounted to EUR 10.3 million, compared to EUR 16.2 million in the prior year, representing a margin of 1.8% versus 3.6% in Q1 2024 as a result of the strategy to grow Rx fast.
International segment.
The International segment, consisting of Belgium, France, Italy and the Netherlands, posted a revenue increase of 26.2% to EUR 134.8 million, up from EUR 106.8 million in the same quarter of the previous year.
Gross profit rose by 31.0% to EUR 35.1 million (Q1 2024: EUR 26.8 million). The gross margin rose to 26.0%, up 0.9 percentage points, mainly benefiting from an improved product mix and pricing as well as purchasing improvements.
Simultaneously, further enhancement in the segment's cost structure was achieved, particularly a reduction in selling and distribution expenses as a percentage of sales, driving a notable improvement in the adjusted EBITDA margin from –4.2% in Q1 last year to –0.9% this quarter. In absolute terms, adjusted EBITDA improved from EUR –4.4 million to EUR –1.2 million..
Q1 2025 Segment development
| in EUR 1,000 | DACH | International | Consolidated |
|---|---|---|---|
| Revenues | 582,453 | 134,833 | 717,286 |
| Gross Profit | 132,227 | 35,059 | 167,286 |
| EBITDA | 9,464 | -1,726 | 7,738 |
| Adjusted EBITDA | 10,302 | -1,230 | 9,072 |
Q1 2024 Segment development
| in EUR 1,000 | DACH | International | Consolidated |
|---|---|---|---|
| Revenues | 453,410 | 106,806 | 560,216 |
| Gross Profit | 104,115 | 26,765 | 130,880 |
| EBITDA | 15,503 | -4,880 | 10,623 |
| Adjusted EBITDA | 16,193 | -4,444 | 11,749 |
Assets, liabilities and financial position.
Assets and liabilities.
At the balance sheet date, total assets amounted to EUR 1,021.7 million, compared to EUR 1,003.3 million at yearend 2024. Total non-current assets increased by EUR 3.9 million to EUR 507.1 million, primarily reflecting investments in tangible and intangible assets totalling EUR 20.3 million, partially offset by EUR 16.8 million in depreciation and amortisation.
Current assets rose by EUR 14.5 million, from EUR 500.0 million to EUR 514.6 million. Inventories increased from EUR 153.8 million to EUR 161.5 million, reflecting higher business volumes. Trade and other receivables rose slightly to EUR 116.2 million (year end 2024: EUR 109.9 million), while prepayments and other current assets decreased to EUR 52.0 million (year end 2024: EUR 58.8 million).
Cash and cash equivalents increased from EUR 96.9 million to EUR 104.0 million. These exclude marketable securities and fixed-term deposits; such short-term financial assets amounted to EUR 80.8 million at the reporting date (compared to EUR 80.7 million at year end 2024). The combined total of cash and cash equivalents and other current financial assets reached EUR 184.8 million, up from EUR 177.6 million at the beginning of the year.
On the equity and liabilities side, total equity decreased from EUR 510.0 million to EUR 493.7 million, mainly due to accumulated losses and a dividend payment of 49% at MediService to minority shareholders (and 51% to Redcare). The equity ratio stood at 48.3% at the reporting date (year end 2024: 50.8%).
Non-current loans and borrowings remained broadly stable at EUR 237.0 million (year end 2024: EUR 237.6 million). Current liabilities increased by EUR 36.4 million to EUR 286.1 million, primarily driven by a rise in trade and other payables from EUR 184.0 million to EUR 212.7 million, reflecting seasonal effects and higher business activity.
Liquidity situation.
Operational cash flow amounted to a positive EUR 36.9 million in the first quarter of 2025, compared to EUR 20.9 million in the same period of fiscal year 2024. This increase was largely driven by more favourable movements in working capital, particularly the rise in trade and other payables as well as other net current assets.
Net cash used in investing activities totalled EUR –19.3 million in Q1 2025, compared to EUR –1.6 million in Q1 2024. The higher outflow in the current period primarily reflects increased investments in intangible assets and property, plant and equipment, amounting to EUR –20.3 million (Q1 2024: EUR –9.6 million), including the commencement of an e-Rx automation project. The year-over-year difference is also due to the absence of a EUR 7.1 million inflow from escrow accounts, a non-recurring item that positively impacted the previous year. Interest received in Q1 2025 contributed EUR 1.2 million.
Cash flow from financing activities showed an outflow of EUR 10.3 million, compared to an outflow of EUR 4.1 million in the prior-year quarter. The increase mainly resulted from a dividend payment of EUR 5.1 million to minority shareholders. The dividend payment relates to the minority interest held by Galenica AG in MediService AG, a subsidiary of Redcare Pharmacy. The distribution is unrelated to the Group's dividend policy at Redcare Pharmacy N.V. level, which remained unchanged during the reporting period.
Overall, cash and cash equivalents increased by EUR 7.3 million during the reporting period, reaching EUR 104.0 million as of the balance sheet date. The Group continues to be well capitalised and has sufficient liquidity to support its strategic initiatives.
Risks and opportunities.
The Group's risk categories and risk factors that could have a material impact on its financial position and results are described in the Annual Report 2024 (pages 128 to 134). These risk categories and factors are deemed incorporated into this report by reference.
There have been no material changes to the company's overall risk assessment compared to the status presented in the Annual Report. However, a judgment of the European Court of Justice of 27 February 2025 has contributed to greater legal certainty regarding bonus schemes for prescription medicines.
Important events during the reporting period.
During the reporting period, Redcare Pharmacy N.V. continued its operations as planned, with business processes running smoothly despite fast growth and in line with expectations.
On 27 February 2025, the European Court of Justice issued a judgment stating that advertising measures which promote the purchase of prescription medicines in the form of direct discounts or payments of an exact amount are allowed. This confirms Redcare Pharmacy's long-standing position since the ECJ's judgment in 2016 that it is entitled to grant bonuses on prescription orders to the benefit of its customers. As Europe's leading customercentric online pharmacy, we welcome this judgment, which offers us the opportunity to further optimise our customer offerings.
Beyond this development, no other events occurred during the reporting period that materially affected operations, financial performance, or strategic direction.
Events after the balance sheet date.
After the end of the quarter, Redcare Pharmacy successfully placed senior unsecured convertible bonds in the market with a seven-year maturity profile, an investor put right after five years, and a 1.75% coupon with a 110% premium redemption. With the proceeds of the EUR 300 million placement, the Group redeemed 70% of the EUR 225 million outstanding convertible bonds due in 2028, with an investor put in 2026. The transactions were carried out to proactively address refinancing risks and extend the debt maturity profile. The Group increased financial flexibility and robustness in support of the Company's long-term value creating strategy.
Forecast.
The Managing Board of Redcare Pharmacy provided the following guidance for full year 2025:
- Total sales growth in excess of 25%.
- Rx in Germany in excess of EUR 0.5 billion.
- Total Group non-Rx sales growth in excess of 18%.
- Total Redcare adjusted EBITDA margin 2% to 2.5%.
Appendix.
Unaudited consolidated statement of profit and loss.
| Period ended | Period ended | |
|---|---|---|
| in EUR 1,000 | 31.03.2025 | 31.03.2024 |
| Revenue | 717,286 | 560,216 |
| Cost of sales | -550,000 | -429,336 |
| Gross profit | 167,286 | 130,880 |
| Other income | 322 | 66 |
| Selling and Distribution | -153,601 | -117,026 |
| Administrative Expense | -23,099 | -19,612 |
| Operating result | -9,092 | -5,692 |
| Finance income | 1,141 | 1,344 |
| Finance expense | -4,857 | -4,255 |
| Share of profit of associates and joint ventures | 325 | 0 |
| Result before tax | -12,483 | -8,603 |
| Income tax | 862 | 415 |
| Result after tax | -11,621 | -8,188 |
| Attributable to: | ||
| Owners of Redcare Pharmacy N.V. | -10,817 | -7,805 |
| Non-controlling interests | -804 | -383 |
| -11,621 | -8,188 | |
Unaudited consolidated statement of financial position.
| in EUR 1,000 | 31.03.2025 | 31.12.2024 |
|---|---|---|
| Assets | ||
| Non-current assets | ||
| Property, plant and equipment | 60,089 | 49,808 |
| Right of use assets | 30,136 | 32,759 |
| Intangible assets | 407,168 | 411,312 |
| Deferred tax assets | 1,410 | 1,410 |
| Other financial assets | 6,911 | 6,552 |
| Investments in joint ventures | 1,408 | 1,408 |
| Investments in associates | 5 | 5 |
| Investments in equity instruments | 10 | 10 |
| 507,137 | 503,264 | |
| Current assets | ||
| Inventories | 161,534 | 153,824 |
| Trade and other receivables | 116,211 | 109,865 |
| Prepayments and other current assets | 51,995 | 58,775 |
| Other financial assets | 80,800 | 80,664 |
| Cash and cash equivalents | 104,020 | 96,892 |
| 514,560 | 500,020 | |
| Total assets | 1,021,697 | 1,003,284 |
| Equity and liabilities | ||
| Shareholders' equity | ||
| Issued capital and share premium | 755,619 | 755,301 |
| Reserves / accumulated losses | -281,747 | -271,320 |
| Equity attributable to owners of the Company | 473,872 | 483,981 |
| Non-controlling interests | 19,798 | 25,988 |
| Total equity | 493,670 | 509,969 |
| Non-current liabilities | ||
| Loans and Borrowings | 236,978 | 237,648 |
| Employee benefit liabilities | 2,335 | 2,363 |
| Deferred tax liability | 2,629 | 3,572 |
| 241,942 | 243,583 | |
| Current liabilities | ||
| Trade and other payables | 212,722 | 183,986 |
| Loans and Borrowings | 9,843 | 9,729 |
| Other current liabilities | 63,520 | 56,017 |
| 286,085 | 249,732 | |
| Total equity and liabilities | 1,021,697 | 1,003,284 |
Unaudited consolidated statement of cash flows.
| in EUR 1,000 | Period ended 31.03.2025 |
Period ended 31.03.2024 |
|---|---|---|
| Cash flow from operating activities | ||
| Operating result | -9,092 | -5,692 |
| Adjustments for: | ||
| – Depreciation and amortisation of non-current assets | 16,830 | 16,315 |
| – Result of disposal of non-current assets | 0 | 0 |
| – Net foreign exchange differences | -52 | 300 |
| – Share-based payment charge for the period | 724 | 881 |
| Corporate income tax paid | -983 | -804 |
| Operating result adjusted for depreciation and amortisation and taxes | 7,427 | 11,000 |
| Movements in: | ||
| - (Increase)/decrease in trade and other receivables | -6,957 | -647 |
| - (Increase)/decrease in inventory | -7,932 | 242 |
| - Increase/(decrease) in trade and other payables | 29,421 | 5,950 |
| - Increase/(decrease) in other net current assets | 14,970 | 4,380 |
| Total change in working capital | 29,502 | 9,925 |
| Net cash (used in)/generated by operating activities | 36,929 | 20,925 |
| Cash flow from investing activities | ||
| Investment for property, plant and equipment | -12,180 | -2,154 |
| Investment for intangible assets | -8,153 | -7,440 |
| Investment in other financial assets | -495 | -118 |
| Disposal of other financial assets | 0 | 0 |
| (Investment in)/disposal from escrow account | 0 | 7,058 |
| Acquisition of subsidiary, net of cash acquired | 0 | 0 |
| Dividend received from associates | 325 | 0 |
| Interest received | 1,193 | 1,043 |
| Net cash (used in)/generated by investing activities | -19,310 | -1,611 |
| Cash flow from financing activities | ||
| Interest paid | -2,955 | -2,449 |
| Capital increase | 0 | 0 |
| Capital increase exercised options | 232 | 731 |
| Payment of dividend to minority shareholder | -5,132 | 0 |
| Repayment of other long-term loans | -406 | -406 |
| Proceeds from other long-term loans | 0 | 0 |
| Cash-out lease payments | -2,078 | -1,969 |
| Net cash (used in)/generated by financing activities | -10,339 | -4,093 |
| Net increase/(decrease) in cash and cash equivalents | 7,280 | 15,221 |
| Cash and cash equivalents at the beginning of the period | 96,892 | 84,160 |
| Effect of movements in exchange rates on cash held | -152 | -645 |
| Cash and cash equivalents at the end of the period | 104,020 | 98,736 |
Segment information.
Our operating segments are reported in a manner consistent with the internal reporting provided to the key operating decision-makers. The key operating decision-makers, who are responsible for allocating resources and assessing performance of the operating segments, have been identified as the statutory directors of the Group and make strategic decisions.
Within the context of IFRS 8, we consider two business segments for external reporting purposes: our "DACH" segment which includes medications and pharmacy related BPC products sold to customers in Germany, Austria and Switzerland, and our "International" segment which includes medications and pharmacy-related BPC products only, sold to customers in Belgium, the Netherlands, France and Italy. The Group's assets and liabilities are not disclosed by segment as they are not included in the segment information used by the chief operating decision-makers.
The accounting policies of the operating segments are the same as the Group's accounting policies described in Note 2 in the Annual Report 2024 (page 227).
The Group allocates all costs (excluding net finance cost and income tax) to the segments. The result by segment is shown in the line EBITDA including all costs directly related to the revenue of the segments (marketing, operations) and administrative expenses. EBITDA means earnings before tax, interest, depreciation and amortisation.
Results per segment 3M 2025.
Segment information 31 March 2025 - non adjusted and adjusted
| in EUR 1,000 | DACH | International | Unaudited interim consolidated |
|---|---|---|---|
| Revenue | 582,453 | 134,833 | 717,286 |
| Cost of sales | -450,226 | -99,774 | -550,000 |
| Adjusted cost of sales | -450,226 | -99,774 | -550,000 |
| Gross profit | 132,227 | 35,059 | 167,286 |
| Adjusted gross profit | 132,227 | 35,059 | 167,286 |
| % of revenue | 22.7 % | 26.0 % | 23.3 % |
| Other income | 254 | 68 | 322 |
| Adjusted other income | 254 | 68 | 322 |
| Selling & distribution | -109,388 | -29,908 | -139,296 |
| Adjusted selling and distribution | -109,388 | -29,908 | -139,296 |
| Administrative expense | -13,629 | -6,945 | -20,574 |
| Adjusted administrative expenses | -12,791 | -6,449 | -19,240 |
| EBITDA | 9,464 | -1,726 | 7,738 |
| Adjusted EBITDA | 10,302 | -1,230 | 9,072 |
| Depreciation | -11,007 | -5,823 | -16,830 |
| Adjusted depreciation | -11,007 | -5,823 | -16,830 |
| EBIT | -1,543 | -7,549 | -9,092 |
| Adjusted EBIT | -705 | -7,053 | -7,758 |
| Net finance cost and income tax | -2,529 | ||
| Adjusted net finance cost | -2,529 | ||
| Net loss | -11,621 | ||
| Adjusted net loss | -10,287 |
Results per segment 3M 2024.
Segment information 31 March 2024 - non adjusted and adjusted
| in EUR 1,000 | DACH | International | Unaudited interim consolidated |
|---|---|---|---|
| Revenue | 453,410 | 106,806 | 560,216 |
| Cost of sales | -349,295 | -80,041 | -429,336 |
| Adjusted cost of sales | -349,295 | -80,041 | -429,336 |
| Gross profit | 104,115 | 26,765 | 130,880 |
| Adjusted gross profit | 104,115 | 26,765 | 130,880 |
| % of revenue | 23.0 % | 25.1 % | 23.4 % |
| Other income | 59 | 7 | 66 |
| Adjusted other income | 59 | 7 | 66 |
| Selling & distribution | -77,194 | -25,964 | -103,158 |
| Adjusted selling and distribution | -77,185 | -25,959 | -103,144 |
| Administrative expense | -11,477 | -5,688 | -17,165 |
| Adjusted administrative expenses | -10,796 | -5,257 | -16,053 |
| EBITDA | 15,503 | -4,880 | 10,623 |
| Adjusted EBITDA | 16,193 | -4,444 | 11,749 |
| Depreciation | -10,602 | -5,713 | -16,315 |
| Adjusted depreciation | -10,602 | -5,713 | -16,315 |
| EBIT | 4,901 | -10,593 | -5,692 |
| Adjusted EBIT | 5,591 | -10,157 | -4,566 |
| Net finance cost and income tax | -2,496 | ||
| Adjusted net finance cost | -2,496 | ||
| Net loss | -8,188 | ||
| Adjusted net loss | -7,062 |
For better orientation, we also provide adjusted figures, which reflect extraordinary items (the non-cash IFRS specific expenses on accounting of the business acquisitions, the non-cash IFRS expenses related to the Employee Stock Option Plans, and one-off costs related to business projects).
A detailed reconciliation of adjustments can be found in the following table:
Reconciliation of adjustments in EBITDA overview
| in EUR 1,000 | Adjustments 2025 | Adjustments 2024 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Non-adjusted | 1 | 2 | 3 | Adjusted | Non-adjusted | 1 | 2 | 3 | Adjusted | |
| Revenue | 717,286 | 0 | 0 | 0 | 717,286 | 560,216 | 0 | 0 | 0 | 560,216 |
| Cost of sales | -550,000 | 0 | 0 | 0 | -550,000 | -429,336 | 0 | 0 | 0 | -429,336 |
| Gross profit | 167,286 | 0 | 0 | 0 | 167,286 | 130,880 | 0 | 0 | 0 | 130,880 |
| Other income | 322 | 0 | 0 | 0 | 322 | 66 | 0 | 0 | 0 | 66 |
| Selling & Distribution | -139,296 | 0 | 0 | 0 | -139,296 | -103,158 | 0 | 14 | 0 | -103,144 |
| Administrative expenses | -20,574 | 724 | 610 | 0 | -19,240 | -17,165 | 881 | 230 | 0 | -16,053 |
| EBITDA | 7,738 | 724 | 610 | 0 | 9,072 | 10,623 | 881 | 244 | 0 | 11,749 |
| Depreciation | -16,830 | 0 | 0 | 0 | -16,830 | -16,315 | 0 | 0 | 0 | -16,315 |
| EBIT | -9,092 | 724 | 610 | 0 | -7,758 | -5,692 | 881 | 244 | 0 | -4,566 |
| Net finance cost | -3,391 | 0 | 0 | 0 | -3,391 | -2,911 | 0 | 0 | 0 | -2,911 |
| Income tax | 862 | 0 | 0 | 0 | 862 | 415 | 0 | 0 | 0 | 415 |
| Net loss | -11,621 | 724 | 610 | 0 | -10,287 | -8,188 | 881 | 244 | 0 | -7,062 |
Description of adjustment:
-
IFRS expenses of the Employee Stock Option Plans. Also see note 27 of the 2024 Annual Report. These expenses are non-cash for Redcare Pharmacy.
-
One-off external project expenses related to other projects (for example expansion and acquisition projects). This mainly concerns external advisory costs. 3. Other major non-recurring one-offs.
17 About Redcare Pharmacy. Key Figures. Interim Group Management Report. Appendix.
Glossary.
Active customers
Unique customers who have placed at least one order in the 12 preceding months, predominantly via our online shops, for both our own-stock and platform business. Business-to-business (B2B) orders are excluded to not distort visibility on relevant trends. Platform-only customers are not yet included.
Administrative expenses
Cost of corporate overhead of which examples are IT services, Finance, HR, Facility, Legal and Executive Management.
Adjusted EBITDA
Earnings Before Interest, Tax, Depreciation and Amortization excluding Adjustments. We use this metric as we find it an important indicator of our underlying operational financial performance.
Adjustments
Items we adjust to get from EBITDA to Adjusted EBITDA. There are three categories: (a) Expenses of the employee stock option programs, (b) Nonrecurring or extraordinary expenses related to projects, (c) Any other major non-recurring (one-off) items of which we would release what it concerns in case we record it as specifically mentioned.
(Adjusted) EBITDA margin
(Adjusted) EBITDA as a percentage of sales.
Average shopping basket
The average gross value of received orders from end-customers and patients (B2C), predominantly via our online shops for our own-stock business, divided by the total related number of orders placed in a given time period. Current prescription medication sales (Rx) in Switzerland and the Netherlands are not included because we believe current non-comparable customer types would distort visibility on relevant trends in this metric. Business-to-business (B2B) order sare excluded for the same reason. The average shopping basket includes value-added tax (VAT).
BPC products
Beauty and personal care products.
CAGR
Compound annual growth rate
DACH segment
Segment reporting provides financial information about the individual units of the company. Redcare uses a regional approach. The DACH Segment comprises its business activities in Germany, Austria and Switzerland.
EBIT
Earnings Before Interest and Tax.
e-RX / e-script
Computer-based electronic generation, transmission, and filling of a medical prescription.
Group
Redcare Pharmacy N.V., Sevenum, the Netherlands, together with its consolidated subsidiaries.
International segment
Segment reporting provides financial information about the individual units of the company. Redcare uses a regional approach. The International Segment comprises its business activities in France, Italy, Belgium and the Netherlands.
Mobile visits
Site visits to our online shops originating from computers, tablets and smartphones as well as other computer-based means.
Net working capital
The difference between the company's current assets (including: trade and other receivables and inventories) and its current liabilities (including: trade and other payables, short-term loans and borrowing and short-term other liabilities).
18 About Redcare Pharmacy. Key Figures. Interim Group Management Report. Appendix.
Glossary.
NPS
Net promoter score of our B2C own stock and platform business for a given period of time. NPS does not yet include MedApp, GoPuls and MediService. We track NPS as an indicator for customer satisfaction.
Number of orders
Number of end-customer and patient (B2C) orders, predominantly placed via our online shops for both our own-stock and platform business, containing at least one product, placed during the measurement period.
OTC products or medications
Products or medicines sold to a customer without a prescription from a healthcare professional, as compared to prescription- only medicines, which may be sold only to customers possessing a valid prescription.
Pharmacy-related products
Products that are almost exclusively distributed through pharmacies.
Private labels or own brands
By private labels (or own brands) we mean the brands of products owned by Redcare Pharmacy or its subsidiaries.
Return rate
Percentage of billed B2C orders for our own stock business that incorporated a return or reclamation of total billed orders in a given time period. Current prescription medication sales (Rx) in Switzerland and the Netherlands are not included because we believe the current non-comparable customer types would distort visibility on relevant trends in this metric. Business-to-business (B2B) orders are excluded for the same reason.
Rx products or medications
Prescription-only medicines, which are only allowed to be sold to customers possessing a valid prescription.
Rx revenues
Sales related to prescriptions of our own stock business in the DACH Segment.
Sales
Gross revenues minus value added taxes and discounts.
Selling and distribution expenses
Expenses related to marketing, shipping, packaging, payments and operational labor to support our Sales.
Share of mobile visits
Mobile visits as a percentage of site visits.
Share of repeat orders
Percentage of total orders, predominantly related to our online shops for both our own-stock and platform business, that is billed during the measurement period that is not the initial order bill to the customer. Business-to-business (B2B) orders are excluded to not distort visibility on relevant trends; with this definition we aim to provide the most relevant insight as to the development of this metric. The share of repeat orders related to platform-only customers is not yet included.
Website visits (Web Traffic)
Unique interactions of a visitor on our website (online shops); a visit is considered terminated when the visitor leaves the browser instance or has not interacted with the page for more than 30 minutes.
Contact.
For the latest full year report, please refer to the Annual Report 2024, which you will find on Redcare Pharmacy's Corporate Website https://ir.redcare-pharmacy.com/en in the Investor Relations section.
Redcare Pharmacy N. V. Erik de Rodeweg 11/13 5975 WD Sevenum
Media:
Sven Schirmer Tel: +49 221 99 53 44 31 Email: [email protected]
Investor Relations:
Monica Ambrosi Tel.: +31 77 850 6461 Email: [email protected]
