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People shop at REDCARE PHARMACY (previously Shop Apotheke) until a doctor is available.

Today, the price of Redcare Pharmacy is rising rapidly. The business increased its projection for the entire year. Now, the break-even threshold is not far off.

The online pharmacy’s revenue growth surged year over year to 46% in the second quarter. Redcare Pharmacy brought around 420 million euros in total sales.  Sales increase was 25.4% excluding the acquisition of the Swiss business MediService AG.

Margin performance also improved. The EBITDA margin grew to 3.2%, up 5.3 points. The improvement was EUR 19.4 million in absolute terms. They converted a loss of EUR 6.1 million into a gain of EUR 13.3 million in this way. In the time period under consideration, Redcare Pharmacy added 800,000 new clients, bringing its total to 10.1 million, which is now over the 10 million mark.

“We are pleased with another very successful quarter and the continued positive momentum,” said CFO Jasper Eenhorst. In every country, our growth story is still unfolding, and our consumers are quite happy with what we have to offer. We were able to dramatically raise the operating margin in accordance with our plan in every area because of efficacy, efficiency, excellent client retention, and economies of scale. We are boosting our guidance for the entire year as a result.

forecasted growth throughout the entire year
Eenhorst is increasing its full-year prediction due to the excellent overall position. With an EBITDA margin of between 1.5% and 3%, total revenues are anticipated to be in the range of EUR 1.7 billion and EUR 1.8 billion. In the best situation, free cash flow may be positive at EUR 20 million. Eenhorst, however, gives a range of between -20 and +20 million euros.

Analysts had previously projected 1.71 billion euros in revenue and 29.5 million euros in EBITDA. Free cash flow estimates have been on average -13.5 million euros.

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