DocMorris AG Reports Growth and Digital Expansion in Q1 2024

DocMorris AG announced its first-quarter results for 2024, noting a substantial growth trajectory and significant advancements in its digital services. The company's revenue saw an increase of 10.3 percent in local currency and 5.5 percent in group currency, reaching CHF 262.4 million. This performance was aided particularly by its operations in Germany, where revenue grew by 11.1 percent in local currency and 6.3 percent in group currency. The total number of active customers rose to 9.7 million, marking an increase of 600,000 from the previous quarter.

The rollout of DocMorris' fully digital e-prescription service across Germany has been implemented successfully, facilitated by the application's integration with the electronic health card system. This development promises enhanced convenience and efficiency in prescription management. The company also highlighted that over 150 million e-prescriptions have been processed to date. Additionally, the TeleClinic platform reported a strong performance with significant user engagement, featuring over 2,000 registered doctors treating more than 1.6 million cases.

Despite the promising numbers, sales in other European markets such as Spain and France did not meet expectations, indicating a 1.8 percent and 6.0 percent decline respectively in local and group currency. Looking forward, DocMorris has reaffirmed its revenue and earnings guidance for the 2024 fiscal year, projecting continued revenue growth and an adjusted EBITDA improvement.