Q3 2024 Redcare Pharmacy NV Earnings Call Transcript
Key Points
- Redcare Pharmacy NV (SHPPF) reported a 34% increase in group sales for the first nine months, reaching 1.7 billion euros.
- The company added 0.4 million active customers in the last quarter, bringing the total to nearly 12 million active customers.
- The repeat order rate remains high at 88%, indicating strong customer loyalty.
- The company is experiencing significant growth in the German Rx market, with a 108% increase in September and over 130% in October.
- Redcare Pharmacy NV (SHPPF) is expanding its presence with a new pharmacy and distribution center in the Czech Republic to better serve Austrian customers.
- The gross profit margin has slightly decreased due to the impact of the Rx business, which has a lower percentage margin compared to non-Rx.
- There is a mixed impact on the gross margin due to the introduction of the e-script, which is currently only available for the statutory health insurance business.
- The company has increased its marketing expenses, which has slightly raised the cost as a percentage of sales.
- The German Rx business experienced some seasonal decline during the summer and autumn holidays.
- The company's guidance for the German Rx market remains broad, indicating uncertainty in future growth projections.
Thank you everybody and a very warm welcome from our side today, we would like to start off a little bit different than we do usually. So, greetings from PTON as announced at the beginning of October, we will open up a pharmacy and distribution center in the Czech Republic to be able to better serve our Austrian customers approach similar to what we have chosen in in Italy. So what you can see here is the picture of the official groundbreaking it's called and you can see our CEO COO and Chief Pharmacist Teresa Hoer on the right hand side and also our partner CTP.
What you can also see, of course, in reality, the construction of the building has started and is already advanced if we now go to the to the agenda of today, like always, we start with the financial performance and then we included in X update. And since we already gave in the live presentation at the beginning of October, we gave you a lot of details on on Rx. We thought it makes sense this time to also show some October numbers, but we will
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