SHOP APOTHEKE EUROPE: STRONG OPERATIONAL PERFORMANCE, GROWING FAST AND IMPROVING THE BOTTOM LINE.
Sevenum, the Netherlands, 5 October 2022. According to preliminary figures, SHOP APOTHEKE EUROPE’s non-Rx sales, currently comprising the majority of the business and accounting for around 90% of total sales, increased by 22% year over year in Q3 2022 to 252M. Total sales increased by 20% year over year to EUR 285M, with Rx sales at EUR 33 million (+4% year over year). The active customer base continued to grow – up 0.2 million in Q3 and 1 million YTD to 8.9 million at the end of September; this is 1.5 million higher compared to September last year. The measure of customer satisfaction NPS (net promoter score) was again well above 70. SHOP APOTHEKE EUROPE achieved another quarter of strong performance in the logistic and pharmacy processes at Sevenum. In Italy, a significant improvement of the NPS was achieved after the opening of SHOP APOTHEKE EUROPE’s new distribution centre in Milan this summer, shortening delivery times.
SHOP APOTHEKE EUROPE’s CEO, Stefan Feltens, comments: “We had another very successful quarter, gaining market share in each of our seven countries. This achievement was the result of our focus on customer needs and excellent execution. Simultaneously, the adoption of eRx in Germany rose; the number of e-scripts doubled from 70k in both July and August to more than 140k in September.”
CFO, Jasper Eenhorst, adds: “We balanced growth, cost savings, and the bottom line. While we successfully continued to grow fast, we achieved a notable quarter over quarter increase in profitability. We now expect a positive adjusted EBITDA for the total group in Q3.”
At the start of the year, the Group provided guidance for 15% to 25% sales growth for the ongoing non-Rx business for full-year 2022, and has constantly delivered on this guidance. In Q3, non-Rx sales expanded by 22% year over year, with 21% growth in the DACH segment (Germany, Austria and Switzerland), and 25% in the International segment (Belgium, the Netherlands, France and Italy).
Sales in DACH increased from EUR 189 million in Q3 2021 to EUR 224 million in Q3 2022, with Rx sales in Germany in Q3 at EUR 33 million (Q3 2021: EUR 32M). In International, sales rose by 25% from EUR 48 million last year to EUR 61M. Total Group sales increased by 20% to EUR 285 million in Q3 (Q3 2021: EUR 238M). Year-to-date (9M), total sales grew 14% to EUR 877 million (9M 2021: EUR 772M).
On 1 September, the roll-out of e-prescriptions (eRx) started in Westfalen-Lippe. Following the test phase that ended successfully this summer with all criteria met by mid-July, the roll-out is a significant next step in the countrywide adoption of electronic prescriptions in Germany. In Q1, the average number of daily electronic prescriptions across Germany was around 70, in Q2 around 400, and in the last week of September more than 6,000.
The Management Board of SHOP APOTHEKE EUROPE reiterates its guidance for the ongoing business to grow non-Rx sales by 15% to 25% in the full year 2022, and to achieve an adjusted EBITDA margin in the range of -1.5% to 1.5%.
All published figures are preliminary and unaudited. SHOP APOTHEKE EUROPE N.V. will release the Interim Report for Q3 2022 on 31 October 2022.
ABOUT SHOP APOTHEKE EUROPE.
SHOP APOTHEKE EUROPE is one of Europe’s leading and fastest-growing online pharmacies, currently operating in Germany, Austria, France, Belgium, Italy, the Netherlands and Switzerland.
Headquartered in the Dutch logistics hub of Sevenum near Venlo with locations in Cologne, Berlin, Munich, Tongeren, Warsaw, Milan, Lille and Eindhoven, SHOP APOTHEKE EUROPE offers its customers a broad range of more than 100,000 original products at attractive prices: OTC, beauty and personal care products as well as prescription drugs, supplemented by high quality natural food and health products, low carb products and sports nutrition. Currently, 8.9 million active customers trust SHOP APOTHEKE EUROPE.
Since safe and reliable pharmaceutical advice are top priorities at SHOP APOTHEKE EUROPE, the e-pharmacy provides comprehensive pharmaceutical consulting services. In preparation for the full introduction of the electronic prescriptions in Germany, the company is continuously expanding in the area of digital health services.
SHOP APOTHEKE EUROPE N.V. has been listed on the regulated market of the Frankfurt Stock Exchange (Prime Standard) since 2016 and is part of the SDAX stock index.