SHOP APOTHEKE EUROPE: GROWTH ACCELERATES FURTHER TO 42% IN Q2. H1 GROWTH IS 37% NOW
Venlo, 6 July 2020.** SHOP APOTHEKE EUROPE N.V. has continued to achieve strong growth during the second quarter of 2020, preliminary calculations show. Consolidated revenues rose by 42% to EUR 233 million in Q2 after EUR 164 million during the same period last year. On a year-to-date basis, preliminary sales at Group level increased by 37% to EUR 465 million after EUR 338 million in H1 2019. The number of active customers rose to 5.5 million as of 30 June, 2020, an increase of 0.5 million compared to the end of Q1 and by 0.8 million YTD.**
Stefan Feltens, CEO of SHOP APOTHEKE EUROPE, comments: “We are really proud of our achievements this quarter. In this very challenging environment, due to the impact of the coronavirus pandemic on society, we were able to serve more customers than ever in all of the seven countries we operate in. Customer satisfaction was again remarkably high reflecting our dedication to provide the best pharmacy service. Online pharmacies further strengthened their role as an important and complementary part of the healthcare system by providing support and safeguarding the supply of medications to patients. Looking forward, I am happy to once again confirm that we are on track with our new distribution facility which will lead to a more than doubling of our capacity.”
In Q2, the DACH segment (Germany, Austria, Switzerland) revenues were increased by 33% compared to the corresponding period of the previous year. Revenues were EUR 190 million after EUR 143 million in the second quarter of 2019. During the first half of 2020, DACH sales grew by 31% to EUR 391 million (previous year: EUR 298 million).
The International segment (Belgium, Italy, France, the Netherlands) more than doubled its Q2 sales by 105% to EUR 42 million compared to EUR 21 million in Q2 2019 and by 83% to EUR 74 million during the first half of 2020 (previous year: EUR 40 million).
The prescription drugs (Rx) business increased by 13% versus Q2 2019 and by 18% in H1. Growth continued, but was lower in Q2 compared to Q1 (+23%) since many people stocked up on medications in the first quarter. Furthermore, social distancing and improved hygiene have resulted in lower transmission of communicable diseases and therefore in lower demand for prescription drugs.
Jasper Eenhorst, CFO of SHOP APOTHEKE EUROPE, says: “After a strong start into the year, we have been able to further accelerate our growth during Q2. While the surges in demand in March were strongly driven by more orders from existing customers, we gained record numbers of new customers in the second quarter when we successfully acted upon the momentum. All in all, we are well ahead of our initial forecast. Similar to Q1, based upon our current estimates, we expect that the strong top-line as well as our continued focus on yielding efficiencies, and leveraging effects of scale will benefit our EBITDA for Q2. Growth in the upcoming two quarters might be lower due to capacity reasons in our current facility.”
The construction of the new distribution facility in Sevenum near Venlo continues to progress according to plan. Most office functions will be transferred to the new facility by the end of July. First orders are expected to be processed at the new site before the end of 2020. The logistic operations will be completely relocated during the first half of 2021. Following the relocation, SHOP APOTHEKE EUROPE will have more than doubled its capacity to meet the rapidly growing customer demand expected in the coming years.
All published figures are preliminary and unaudited. SHOP APOTHEKE EUROPE will release the full interim report for the first half of 2020 on 6 August 2020.
ABOUT SHOP APOTHEKE EUROPE.
SHOP APOTHEKE EUROPE is one of the leading and the fastest-growing online pharmacies in Continental Europe. With the acquisition of Europa Apotheek Venlo in November 2017, SHOP APOTHEKE EUROPE significantly extended its European market leadership. The product range for the whole family in the areas of OTC, beauty and personal care products as well as prescription drugs is supplemented by high quality natural food and health products, low carb products and sports nutrition following the acquisition of nu3 GmbH in July 2018.
SHOP APOTHEKE EUROPE already operates online pharmacies in Germany, Austria, France, Belgium, Italy, the Netherlands and Switzerland. SHOP APOTHEKE EUROPE delivers a broad range of more than 100,000 original products to over 5 million active customers fast and at attractive prices. In addition, SHOP APOTHEKE EUROPE provides comprehensive pharmaceutical consulting services.
SHOP APOTHEKE EUROPE N.V. has been listed on the regulated market of the Frankfurt Stock Exchange (Prime Standard) since 13 October 2016 and is part of the SDAX index since 24 September 2018.
In addition to being traded on the Frankfurt stock exchange, SHOP APOTHEKE EUROPE’S convertible bonds (ISIN: DE000A19Y072) are also tradeable on the Dutch Euronext stock exchange, which operates the stock exchanges in Paris, Amsterdam, Brussels and Lisbon.