Q1 2024 Redcare Pharmacy NV Earnings Call Transcript

Apr 25, 2024 / 09:00AM GMT
Olaf Heinrich – Redcare Pharmacy NV – CEO

Thank you very much. Good morning, everybody, and a very warm welcome from my side. Let’s have a look into today’s agenda. We would like to first start with financial performance, then an update on business specialty, and then by the end outlook and guidance.

Let’s start with the financial performance first. So Q1 2024 highlight, we continue very strong sales growth, including managed service via 51%, but also organic growth, excluding medical that shows a strong 19% growth. As we look into the non-Rx growth, we are at 20%. And you know, for an online company and also an online pharmacy, it’s always important to make the jump at the beginning of the year, and that has always resided with the customer file, which we have been built over the past. That’s our capabilities to bring in new customers at the beginning year, and we are really happy that we achieved that sum up to 20%.

As you all know, the e-Rx became mandatory at the beginning of 2024 in Germany. And we saw great adoption rate of above 75%, all of the scripts being lifted. And because of