Zur Rose Group posts acceleration of growth in third quarter 2019

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

23.10.2019 / 06:45

Press release

Zur Rose Group posts acceleration of growth in third quarter 2019

- Revenue up 30 per cent in the first nine months of 2019

- Strategic cooperation with the German Association of General Practitioners on

- Group Management expanded: Betül Susamis Unaran becomes Chief Strategy and
Digital Officer

The Zur Rose Group remains on the growth track: including the sales of medpex, Europe's largest e-commerce pharmacy generated revenue of CHF 1,157.8 million in the first nine months of 2019. This represents a rise of 30.2 per cent (32.4 per cent in local currency terms) compared with the same period last year and a further acceleration of growth compared to the first half of the year. Excluding medpex, sales rose by 12.5 per cent (14.7 per cent in local currency terms)[1]. In Germany, revenue including medpex rose by 50.2 per cent in local currency terms, with the Swiss business up by 5.0 per cent.

e-prescriptions: cooperation with the German Association of General Practitioners
Preparations by the Zur Rose Group for the forthcoming launch of e-prescriptions in Germany are going according to plan. The Group is driving ahead with various pilot projects as a systems operator for e-prescription solutions. In October, DocMorris entered into a strategic cooperation with the HÄVG ("Hausärztliche Vertragsgemeinschaft" - the organisation that manages the contracts for the German Association of General Practitioners). The HÄVG provides healthcare services for around 30,000 organised general practitioners. In November the cooperation partners will start a pilot project on electronic prescription transfer, supported by the German Association of General Practitioners and its regional group in Westfalen-Lippe. A checking module for drug therapy safety will be included in a second phase. This cross-sectoral pilot project brings together general practitioners, patients and pharmacies thanks to the e-prescription technology of eHealth-Tec GmbH combined with the DocMorris e-Rx app and the drug therapy safety (AMTS) database. For the first time, this makes it possible to have a patient supply process for individual drug therapy which is fully digital from prescription to billing.

Partnership with health insurers
In Switzerland too, the Zur Rose Group is committed to the best possible healthcare at lower prices. It supports insurance solutions which take this aspect into account - such as the new "Multimed" alternative basic insurance model from CSS Insurance[2], which focuses on strict coordination between service providers. With "Multimed", the savings achieved allow customers to benefit from a reduced deductible and a premium discount. If the physician does not dispense drugs himself, the patient with a repeat prescription will obtain the medication from a mail-order pharmacy.

Group Management strengthened
The Zur Rose Group wishes to more firmly embed the significance and opportunities of digitalisation in the management structure and has created the new position of Chief Strategy and Digital Officer. To take on this responsible role, Zur Rose has successfully recruited Betül Susamis Unaran. A dual national of Switzerland and Turkey, she most recently ran the digital agenda for Novartis Pharmaceuticals. In this and her previous positions in the pharmaceutical industry, at McKinsey & Company and with Procter & Gamble, she has demonstrated a track record of outstanding achievements in the digital health sector. Ms Unaran will join the company on 1 November 2019 and will be a Member of Group Management from 1 May 2020. "I am delighted to welcome Betül Susamis Unaran on board. She is a highly qualified manager and colleague and will drive forward the company's digital strategy and the development of the healthcare ecosystem," said Walter Oberhänsli, CEO of the Zur Rose Group. "The broadening of Group Management and the associated strengthening of the leadership structure is a key, forward-looking step towards aligning the organisation of the Group with future challenges and further geographical expansion."

For the full year 2019 the Zur Rose Group expects revenue including medpex of around CHF 1.6 billion, representing more than 30 per cent growth over last year. In light of the introduction of electronic prescriptions in Germany, management confirms the outlook for 2022: The Zur Rose Group is looking to double the revenue achieved in 2018. The EBITDA margin target for 2022 is 5 - 6 per cent.


Revenue, in CHF thousands (unaudited) 1.1.-30.9.2019 1.1.-30.9.2018 Change
Zur Rose Group including medpex 1,157,810 889,252 30.2%
Zur Rose Group including medpex in local currency - - 32.4%
Zur Rose Group 1,000,345 889,252 12.5%
Zur Rose Group in local currency - - 14.7%
Germany including medpex 720,735 498,406 44.6%
Germany including medpex, in EUR thousands - - 50.2%
Germany 563,271 498,405 13.0%
Germany, in EUR thousands - - 17.4%
Switzerland 409,404 389,774 5.0%
Rest of Europe 27,671 1,072(1) n.a.
Business models      
B2C including medpex 815,428 596,111 36.8%
B2C 657,963 596,111 10.4%
Professional Services 314,711 292,069 7.8%
Marketplace 27,671 1,072 n.a.
Revenue, in CHF thousands (unaudited) 1.7.-30.9.2019 1.7.-30.9.2018 Change
Zur Rose Group including medpex 386,003 286,546 34.7%
Zur Rose Group including medpex in local currency - - 37.3%
Zur Rose Group 331,985 286,546 15.9%
Zur Rose Group in local currency - - 18.4%
Germany including medpex 240,115 157,821 52.1%
Germany including medpex, in EUR thousands - - 58.6%
Germany 186,097 157,820 17.9%
Germany, in EUR thousands - - 23.0%
Switzerland 136,074 127,653 6.6%
Rest of Europe 9,814 1,072(1) n.a.
Business models      
B2C including medpex 272,149 189,917 43.3%
B2C 218,131 189,917 14.9%
Professional Services 104,040 95,557 8.9%
Marketplace 9,814 1,072 n.a.

1) PromoFarma consolidated per 14 September 2018

Key revenue figures
Nominal revenue growth indicates the change in per cent 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

22 January 2020 Sales 2019
19 March 2020 2019 Full-Year Results
16 April 2020 First Quarter Trading Update
23 April 2020 Annual General Meeting

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, payers 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

[1] As the separation of the mail-order business has not yet been completed, no medpex revenues have been consolidated in the first nine months of 2019.
[2] Press release by CSS Insurance (not available in English): https://www.css.ch/de/home/ueber_uns/medien_publikationen/medienmitteilungen/2019/multimed.html

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