Zur Rose Group grows 28 per cent in the first quarter of 2019

EQS Group-News: Zur Rose Group AG / Key word(s): Development of Sales

17.04.2019 / 06:55

Press release

Zur Rose Group grows 28 per cent in the first quarter of 2019

- 45.9 per cent sales growth in Germany including medpex

- Stable increase in revenue in Switzerland

- Successful rollout of the marketplace model in France

- Revenue forecast for the year as a whole reaffirmed

The Zur Rose Group continued its path of growth in the first quarter of 2019 as planned. After adding in medpex revenue, the Group achieved an increase in revenue of 28.1 per cent to CHF 381.1 million. In Germany, revenue in local currency increased by 45.9 per cent to EUR 212.8 million. The non-prescription drug business was the main driver of growth: the mail-order business of medpex in particular performed very well in this regard, increasing by 21.4 per cent. Since the separation of the mail-order business has not yet been completed, it was not possible to consolidate medpex revenue as of yet in the first quarter of 2019.

In Switzerland, Zur Rose managed to achieve revenue growth of 3.6 per cent to CHF 132.3 million despite regulatory drug price reductions. A key aspect of this positive development is the encouraging increase in new customers in the physicians segment. Due to higher-priced drugs in the specialty care segment, price reductions had a more pronounced impact in the B2C business than in the B2B business.

Thanks to the marketplace model, the Zur Rose Group has succeeded in strategically supplementing its business model and successfully promoting internationalisation in European core markets. In the "Rest of Europe", the Group posted revenue growth of 40 per cent to EUR 7.1 million, which shows the potential of this business model. Following the acquisition of PromoFarma in Spain in September 2018, the Group took over the marketplace Doctipharma, which is to be integrated in PromoFarma, in France in February 2019. Preparations for the rollout in the second quarter of 2019 are currently underway in Italy, where the Group has already managed to acquire its first partner pharmacies.

The Zur Rose Group will structure its organisation according to customer segment. This means it will no longer be structured around prescription and non-prescription drugs, but around the business models B2C, professional services and marketplace, in each case including the entire pharmacy range. Segment reporting will adopt this approach starting with the 2019 financial year.

From the current perspective, management reaffirms the guidance for the Group for 2019 as a whole and expects revenue of approx. CHF 1.6 billion, which equates to year-on-year growth of over 30 per cent, with the aim of achieving break-even at the EBITDA level.

Revenue, in CHF thousands (unaudited) 1.1.-31.3.2019 1.1.-31.3.2018 Change
Zur Rose Group including medpex 381,128 297,633 28.1%
Zur Rose Group 327,058 297,633 9.9%
In local currency     11.5%
Germany including medpex, in EUR thousands 212,797 145,822 45.9%
Germany, in EUR thousands 165,012 145,822 13.2%
Switzerland 132,346 127,749 3.6%
Rest of Europe, in EUR thousands 7,064 - n.a.
Business models      
B2C including medpex 271,124 201,630 34.5%
B2C 217,054 201,630 7.6%
Professional Services 102,011 96,003 6.3%
Marketplace 7,993 - n.a.

Key revenue figures
Nominal revenue growth indicates the change in percent of revenue compared to the previous year. Revenue growth in local currency terms shows the change in per cent of revenue without the impact of exchange rate effects (conversion is at the previous year's rate).

Investors and analyst contact
Marcel Ziwica, Chief Financial Officer
Email: ir@zurrose.com, phone: +41 58 810 11 49

Media contact
Lisa Lüthi, Head of Corporate Communications
Email: media@zurrose.com, phone: +41 52 724 08 14

Financial Calendar
23 May 2019 Annual General Meeting
21 August 2019 2019 Half-Year Results
23 October 2019 Q3/2019 Trading Update

Zur Rose Group

The Swiss Zur Rose Group is Europe's largest e-commerce pharmacy and one of the leading medical wholesalers in Switzerland. With its business model, it offers high-quality, safe and cost-effective pharmaceutical care and thus contributes to reducing healthcare costs. It is also characterized by the continuous further development of digital services in the field of drug management and actively promotes its positioning as a comprehensive, integrated cross-service healthcare platform. The creation of added value and a pronounced patient orientation make the Group an important strategic partner for service providers, cost units and industry.

The Zur Rose Group is internationally present with strong brands, including Germany's best-known pharmacy brand DocMorris. The company employs over 1,300 people at various locations and generated a turnover of CHF 1,207 million in the 2018 financial year. The shares of Zur Rose Group AG are listed on the SIX Swiss Exchange (securities number 4261528, ISIN CH0042615283, ticker ROSE). The CHF 115 million corporate bond issued in July 2018 is also listed on the SIX Swiss Exchange (securities number 42146044, ISIN CH0421460442, ticker ZRO18). Further information at zurrosegroup.com

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