Redcare Phamacy Unsp/Adr

And gentlemen, welcome to the Red Care Q1 2025 earnings release analyst and investor call. I'm Moritz, the call's call operator. I would like to remind you that all participants will be in a listen-only mode and the conference has been recorded. The presentation will be followed by a question and answer session. You can register for questions at any time by pressing star and 1 on your telephone. For operator assistance, please press star and 0. The conference must not be recorded for publication or broadcast. Your presenters today are CEO Olaf Heinrich and CFO Jasper Enhorst. At this time, it's a pleasure to hand over to Monika Ambrosi. Please go ahead.

Good morning. This is just a reminder that if you should have an issue accessing the webcast, you should please go to our website to find the link under the events and publications page and the webcast recording. Thank you. Over to Olaf.

Yes, thank you very much, Monika, and hello to everybody. Very warm welcome from my side. Sorry if there are any inconvenience with the technology, but I think especially with this hint from Monika that it should work out for all of you. So again, very sorry for that. Let's have a look into the agenda of today. So first, we would like to talk about financial performance, then about a general update, and then by the end of the presentation briefly touch on outlook and guidance 2025. So let's start with the financial performance first. We had a successful start with continued fast growth into 2025. Group sales are up 28% and it's fully organic and driven by ERX reaching 717 million in Q1 of this year. If we look into the different categories, Non-Rx, strong growth at 20%. And if we look into the Rx, Rx in Germany increased 191% compared to last year. But even quarter over quarter, we see a double digit growth. So from Q4 of last year into Q1 of this year. And we will talk about the market share development later in the presentation. We also are happy to report a return to the positive EBITDA, reaching 1.3% in Q1 of this year. That's a two percentage point swing from the last quarter of last year. And it's driven really by ongoing operational strength, including Rx growth. And on the other hand, we continue to invest into the ERX opportunity. We are also happy to confirm our full year guidance 2025 on all elements. If we can go to the next slide, what you can see here is our typical split to national and international. Again, it's a growth of 28% on group level. And for the first time since a couple of quarters, if you just look from a pure organic way, we are growing faster in DACH than we do in international. So it's a 28.5% in DACH and 26.2% in international. And again, it's driven by Rx. only into the non-Rx. International still is in the lead with a 26.2%. And then we see DACH at 17.4%. If we go to the next slide, you see that we have very good, continue to have a great development on our customer base. So we added another 0.6 million active customers in the first quarter of this year, primarily driven by ERX. ending up now on 13.1 million active customers. If we look into the NPS, we can see that it's at 64. We consider this a strong number. I mean, comparing this also to other businesses and industries. But nevertheless, it came down from the previous level of 70 in the first quarter of last year. And there are two main reasons for that. First of all, We're adding a lot of new customers to our business. And new customers usually with the first order, they have a lower NPS. And then because of having more new customers, it's simply a structural effect, which we can see here. And the other one is that we are adding a lot of new customers in our relatively new business area. So we are talking about Rx and the marketplace. And this is a new journey. also to our customers, but also to us. And here we see there is great opportunity because what we can see is if it works all well, especially on the Rx side, we see a potential for great NPS. But on the other hand, we also see that there are some areas for improvement. So that is what we are currently working on. So therefore, we are confident that we can bring this level up to previous levels. Before we go to the next, if you can go back one slide, because there's one great message missing, and that is on the basket development. So if you look into the baskets, you can see compared to last year, really the positive impact, one of the positive impacts of the Rx business. The basket is significantly up, and as you all know, a high basket is one of the success drivers in an online business. Monika, if you now can please go to the next slide. On the next slide, this is our typical audit slide and what you can see now, we have a new high at 11.5 million orders in the first quarter of 2025. Most important to us is that we achieved the step up, which we always need at the beginning of the year. And it's a clear confirmation of, again, that all of the customers we acquired in the previous years and quarters, I mean, they have a good quality because they are returning. And at the same time, we also succeeded with our new customer acquisition in Q1. This all together leads to the 11.5 million orders. So we are really happy about that we did this, that we did this lift up. It's a very good basis into 2025 and also helps us in achieving our guidance. You can see that also our share of repeat orders is at 89%. So again, also confirms Phamacy Unsp