DocMorris reports Q4 external revenue slightly higher than expectations (updated)

DocMorris AG

16/01/2024 06:53

(Adds Germany external revenue, peer comparison, full-year
revenue, outlook in paragraphs 3-6)
       Jan 16 (Reuters) - Swiss online drug retailer DocMorris
 DOCM.S  reported higher fourth-quarter external revenue, as it
continued to aim for profitability on an adjusted core earnings
basis, excluding e-prescriptions, in 2024.    
    DocMorris' external revenue in the quarter ended Dec. 31
rose 10.8% year-on-year to 280.5 million Swiss francs ($326.66
million), slightly above analysts estimate of 276 million Swiss
francs in a company-compiled consensus.
    The Swiss company said it continued to aim for profitability
on an adjusted earnings before interests, taxes, depreciation
and amortization for 2024, excluding e-prescriptions, after it
delayed this objective in 2023.
    External revenue in Germany, DocMorris' key market following
the sale of its Swiss business to Migros, reached 265.6 million
euros ($289.93 million), making up 94.7% of the company's total
sales.
    Netherlands-based peer Redcare Pharmacy  RDC.DE  last week
said its fourth-quarter sales grew by 62% to 531 million euros,
as it also reached the upper end of its 2023 guidance at 1.8
billion euros.
    For 2023, DocMorris recorded an external revenue of 1.04
billion Swiss francs, slightly above market expectations of 1.03
billion Swiss francs.
    

($1 = 0.8587 Swiss francs)

($1 = 0.9161 euros)
    
    

 (Reporting by Tristan Veyet and and Chiara Holzhaeuser in
Gdansk; Editing by Christian Schmollinger and Rashmi Aich)
 ((Tristan.Chabba@thomsonreuters.com;
Chiara.Holzhaeuser@thomsonreuters.com))