Half Year 2024 Redcare Pharmacy NV Earnings Call Transcript
Key Points
- Redcare Pharmacy NV (SHPPF) reported a strong overall growth of 42%, with a 21% growth excluding managed services.
- The company saw significant growth in Europe, with a 37% quarterly increase in their Eurex business.
- Redcare Pharmacy NV (SHPPF) added 0.4 million active customers in the last quarter, reaching a total of 11.6 million active customers.
- The company's Net Promoter Score (NPS) remains high at 69, indicating strong customer satisfaction.
- The company achieved an 8th consecutive quarter of positive adjusted EBITDA margin, demonstrating consistent profitability.
- The adjusted EBITDA margin declined to 2.7% in Q2, bringing the year-to-date margin to 2.4%, down from 2.8% last year.
- The gross margin decreased from 26.5% last year to 23.4%, indicating a reduction in profitability.
- The fully loaded EBITDA decreased by 5 million euros due to fewer adjustments compared to the previous year.
- The company faces challenges with the distribution of digital IDs and EGK plus pin in Germany, which remains very low.
- The insurance app redemption option lacks the full features available in Redcare Pharmacy NV (SHPPF)'s own app, potentially impacting customer experience.
Thank you very much and good morning to everybody. Also very warm welcome from my side. As some of you who are joining via webcast, probably just saw commercials on our X. We are currently running. So we thought this is a nice intro and the other day.
So let's have a look into the agenda of today. The standard agenda. Firstly, Scott, with financial performance during the strategy update on 2024 and outlook and guidance. If we look into the financial performance, we would like to start with some highlights from We continue our fast grow at a 42%. And even if we exclude managed services, we are showing a growth above 20%. So to be more specific, it's 21% we are very happy to report strong growth on Europe, as you all aware of and direct became mandatory at the beginning of this year. And since then, we have seen really great adaptation from a doctor's perspective. So more than 80% of the scripts being issued in Germany are already difficult since the launch of our cutting solution on May sixth, we have seen
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