Strong start of the year for Redcare Pharmacy, double-digit sales growth continues.

Strong start of the year for Redcare Pharmacy, double-digit sales growth continues.

• Total sales growth 51% year over year to EUR 560M in Q1 and 19% excluding MediService.
• Non-Rx sales growth 20% to EUR 404M.
• Active customer base expanded to 11.2M, up 0.4M in Q1 and 1.5M year over year.
• Net promoter score remained unabatedly high around 70.
• Final specifications for NFC eHealth-CardLink (fully digital eRx redemption method via health card) published by the gematik on 14 March; Redcare has applied for approval of its solution.

Sevenum, the Netherlands, 4 April 2024. Redcare Pharmacy today published preliminary and unaudited sales figures for Q1 2024. The numbers show that the high, double-digit growth momentum continued into the start of the year. Group sales grew 50.5% year over year to EUR 560 million (Q1 2023: EUR 372 million). Excluding MediService, which has been consolidated since mid-May last year, sales grew by 18.6%. Non-Rx sales in Q1 were EUR 404 million, an increase of 19.8% from Q1 2023. The active customer base also continued to steadily expand; by the end of Q1, Redcare Pharmacy served 11.2 million active customers.     

Redcare Pharmacy’s CEO, Olaf Heinrich comments: “We started the year very well, with strong sales growth accompanied by persistently high non-financial KPIs. At the same time, we are very excited that a fully digital and patient-friendly NFC eHealth-CardLink solution to redeem e-prescriptions in Germany is expected, enabling the discriminatory-free, digital access to any pharmacy of choice.”

Sales in the DACH segment (Germany, Austria and Switzerland) increased by 56.6% in Q1 2024 to EUR 453 million (Q1 2023: EUR 289 million). Excluding MediService, sales in DACH grew by 15.6% to EUR 334 million. Non-Rx sales growth was 16.8% to EUR 297 million (Q1 2023: EUR 254 million), while prescription medication sales (Rx) rose by 348.3% to EUR 156 million.

Excluding MediService, Rx sales growth in DACH was 6.8% to EUR 37 million (Q1 2023: EUR 35 million). Following the 1 January 2024 mandatory adoption of the e-prescription in Germany, some education was needed for both existing and new customers to submit e-prescriptions. Later in Q1, Redcare Pharmacy increased its marketing, achieving a year-over-year growth in Rx sales.

In the International segment (Belgium, Italy, France, and the Netherlands) sales grew almost by a third, that is 29.1% to EUR 107 million (Q1 2023: EUR 83 million).


All published figures are preliminary and unaudited. Redcare Pharmacy N.V. will release the full interim report for Q1 2024 on 25 April 2024.

Investor Relations Contact:

Monica Ambrosi (Associate Director, Investor Relations)

investors@redcare-pharmacy.com

Press Contact:

Sven Schirmer (Director, Corporate Communications)

press@redcare-pharmacy.com

About Redcare Pharmacy

Originally founded in 2001, Redcare Pharmacy N.V. (formerly known as Shop Apotheke Europe N.V.) today is the leading e-pharmacy in Europe, currently active in seven countries: Germany, Austria, France, Belgium, Italy, the Netherlands and Switzerland.

Headquartered in Sevenum, close to the Dutch city of Venlo and in the heart of Europe, the company has locations in Cologne, Berlin, Munich, Tongeren, Warsaw, Milan, Lille and Eindhoven.

As the one-stop pharmacy of the future, Redcare Pharmacy offers over 11 million active customers a wide range of more than 150,000 products at attractive and fair prices. Besides OTC, nutritional supplements, beauty and personal care products as well as an extensive assortment of health-related products in all markets, the company also provides prescription drugs for customers in Germany, Switzerland and the Netherlands.

Pharmaceutical safety is of top priority. Being a pharmacy at its core, Redcare stands for comprehensive pharmaceutical consultation service. Since care is at the heart of everything Redcare does, the company provides services for all stages of life and health. This ranges from its marketplaces to unique delivery options and medication management.

Redcare Pharmacy N.V. has been listed on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) since 2016. As of 19 June 2023, the company is a member of the MDAX selection index.