Redcare Pharmacy reports adjusted EBITDA below expectations and reaffirms forecast (updated)
25/04/2024 06:19
(Adds company reaffirming full-year view, context)
April 25 (Reuters) - Redcare Pharmacy RDC.DE on
Thursday reported first-quarter adjusted earnings before
interest, taxes, depreciation and amortization of 9.8 million
euros ($10.49 million), below investors' expectations that saw
it reach 17 million euros according to a company-compiled
consensus.
The Group’s adjusted EBITDA increased by 2.9 million euros
to 11.7 million euros.
The company reported an adjusted EBITDA margin of 2.2%, also
below investors' expectations for 3% according to a
company-compiled consensus.
But the Netherlands-based group reaffirmed its 2024
full-year forecast, already provided on March 5.
On April 23 Redcare Pharmacy successfully obtained the
provider approval by the gematik for its eHealth-CardLink
solution, which will be launched in its mobile app for customers
in Germany by early May. This means that insured users can
redeem e-prescriptions via their smartphone using applications
from the pharmacy or mail-order pharmacies with their eGK
without a PIN.
Swiss peer Docmorris slightly missed first-quarter sales
expectations on April 16, as revenue from prescription medicines
declined and e-prescriptions could not yet be redeemed fully
digitally at online pharmacies. DocMorris posted external
revenue of 262.4 million Swiss francs ($287.47 million), 1.4%
below analysts' expectations according to a company-provided
poll.
($1 = 0.9338 euros)
(Reporting by Mateusz Dobrzyniewski and Éva Orsolya Papp;
Editing by Kim Coghill)
((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;))