DGAP-News: SHOP APOTHEKE EUROPE reports sales growth of 33% in the first quarter of 2019.


Nachricht vom 15.05.201915.05.2019 (www.4investors.de) -


DGAP-News: SHOP APOTHEKE EUROPE N.V. / Key word(s): Quarterly / Interim Statement/Quarter Results

SHOP APOTHEKE EUROPE reports sales growth of 33% in the first quarter of 2019.
15.05.2019 / 06:58


The issuer is solely responsible for the content of this announcement.
NOT FOR RELEASE OR DISTRIBUTION IN THE USA, CANADA, AUSTRALIA OR JAPAN.

SHOP APOTHEKE EUROPE reports sales growth of 33% in the first quarter of 2019.

Venlo, the Netherlands, May 15, 2019. SHOP APOTHEKE EUROPE N.V. started the 2019 fiscal year (January 1 - December 31) with substantial revenue growth. Consolidated first quarter revenues rose by 33% to EUR 174.7 million compared to EUR 130.7 million during the first quarter a year earlier. The number of active customers increased substantially, from 2.7 million as of March 31 2018 to now more than 3.8 million as a result of the company's successful growth initiatives, a plus of 40%.

The number of orders rose by 55% compared to the corresponding period last year, reaching 3.1 million (Q1 2018: 2.1 million), with the size of the average shopping basket at EUR 64.95 during the first three months of the year, slightly below the previous year's high level of EUR 73.40. This is largely due to the changed product mix following the acquisition of nu3 GmbH in July 2018 as well as to the effect of new customer acquisition. The share of repeat orders was 78% compared to 81% the previous year while the return rate remained minimal at less than 1%. The share of mobile page visits rose to 66% during the first quarter of 2019 after 56% during Q1 2018.

SHOP APOTHEKE EUROPE increased its consolidated gross earnings by 42%, from EUR 23.0 million during the first three months of 2018 to EUR 32.6 million over the period under review. Compared to a year earlier, the consolidated gross margin rose by 1.1% to 18.7%.

At EUR -3.9 million, segment EBITDA was below last year's figure of EUR -1.4 million. This was largely due to increased marketing spending to further drive organic growth.

Administrative costs for Q1 were EUR 5.9 million (previous year: EUR 3.6 million); the administrative cost ratio was 3.4%. Because the company's strong growth and related costs for new customer acquisition, selling expenses increased by a significant 49.7%, from EUR 24.4 million during Q1 2018 to EUR 36.5 million for the period under review. Adjusted consolidated EBITDA stood at EUR -9.8 million compared to EUR -5.0 million for the first three months of 2018. Including amortisations of EUR 3.5 million (previous year: EUR 3.1 million), the adjusted EBIT was EUR -13.3 million (Q1 2018: EUR -8.1 million). Adjusted earnings after taxes were EUR -14.7 million compared to EUR -8.1 million a year earlier.

During the first three months of 2019, DACH - SHOP APOTHEKE EUROPE's largest segment by revenues - grew by 29.3% compared to the corresponding period last year. Revenues rose to EUR 155.0 million compared to EUR 119.0 million for the first quarter 2018. Q1 gross earnings were up 37.9% year-on year, from EUR 20.3 million to EUR 28.0 million. The gross margin rose by 1.1% to 18.0% compared to 16.9% last year. Segment EBITDA for the first three months of the year was EUR -1.7 million compared to EUR 0.2 million for the same period last year, a development that is largely due to increased marketing expenditures in order to further drive organic growth.

SHOP APOTHEKE EUROPE significantly increased its revenues outside of Germany, up 82.7% to EUR 19.6 million (previous year: EUR 10.7 million). The company also further expanded its market position in Belgium, the Netherlands, France, Italy and Spain. Segment gross earnings rose by 70.4% from EUR 2.7 million to EUR 4.7 million during the reporting period with the gross margin at 23.7%, slightly below last year's 25.4%.

In line with this share expansion in the company's younger markets, the segment also had a sharp increase in customer numbers. Due to the high ratio of orders by new customers - which require greater acquisition costs - segment EBITDA for the first three months of 2019 declined to EUR
-2.2 million from EUR -1.6 million a year earlier.

CEO Stefan Feltens comments: "With our successful recent capital-raising measures, we generated total proceeds of EUR 110 million. Thanks to this strong financial position we are well equipped to continue our growth course and to concurrently prepare for the introduction of electronic prescriptions in Germany in 2020. We do so from our strong position as European online leaders."

For the 2019 fiscal year, the Management Board expects SHOP APOTHEKE EUROPE to accelerate its organic growth rate to approximately 30% (2018: 25%), equivalent to an increase in consolidated revenues to ca. EUR 700 million. The planned (adjusted) EBITDA margin is projected to be at the level of the previous year or slightly better. Break-even is expected in 2020.

 

2019 FINANCIAL CALENDAR:

21 May 2019
Berenberg Conference USA 2019, Tarrytown, NY
14 August 2019
Publication of 2019 half-year financial results
23-25 September 2019
Goldman Sachs und Berenberg Munich Conference 2019
14 November 2019
Publication of Q3 2019 financial results / Capital Markets Day

 

 

CONSOLIDATED STATEMENT OF PROFITS AND LOSSES Q1 2019.

 
PERIOD ENDED ON
PERIOD ENDED ON
31 March 2019
31 March 2018
 
EUR 1,000
EUR 1,000
Revenues
174,646
130,667
Cost of sales
-142,029
-107,652
Gross profit
32,617
23,015
Other income
1
29
Selling & distribution costs
-39,498
-27,001
Administrative expenses
-6,435
-4,101
Operating income (EBIT)
-13,315
-8,057
Finance income
48
24
Finance expenses
-1,496
-477
Net finance costs
-1,448
-452
Earnings before taxes (EBT)
-14,763
-8,510
Taxes on income and earnings
42
403
Period result
-14,721
-8,107
Attributable to shareholders:
-14,721
-8,107

 

 

 

SEGMENT INFORMATION FOR Q1 2019.

 
DACH
International
 
Consolidated
 
 
 
 
 
 
EUR 1,000
EUR 1,000
 
EUR 1,000
 
 

 
 
 
Revenues
155,011
19,635
 
174,646
Cost of sales
-127,050
-14,979
 
-142,029
 
 
 
 
 
Gross profit
27,960
4,657
 
32,617
% of revenues
18,0%
23,7%
 
18,7%
 
 
 
 
 
Other income
1
0
 
1
Selling & distribution costs
-29,620
-6,883
 
-36,503
 
 
 
 
 
Segment EBITDA
-1,659
-2,226
 
-3,885
 
 
 
 
 
Administrative expenses
 
 
 
-5,906
 
 
 
 
 
EBITDA
 
 
 
-9,791
 
 
 
 
 
Depreciation
 
 
 
-3,524
 
 
 
 
 
EBIT
 
 
 
-13,315
 
 
 
 
 
Financial result and taxes on income
 
 
 
-1,406
 
 
 
 
 
Period result
 
 
 
-14,721

 

ABOUT SHOP APOTHEKE EUROPE.

SHOP APOTHEKE EUROPE is one of the leading and the fastest-growing online pharmacies in Continental Europe. With the acquisition of Europa Apotheek Venlo in November 2017, SHOP APOTHEKE EUROPE significantly extended its European market leadership. The product range for the whole family in the OTC, beauty and personal care products as well as prescription drugs segments is supplemented by high quality natural food and health products, low carb products and sports nutrition following the acquisition of nu3 GmbH in July 2018.

SHOP APOTHEKE EUROPE already operates online pharmacies in Germany, Austria, France, Belgium, Italy, Spain, the Netherlands and Switzerland.

SHOP APOTHEKE EUROPE delivers a broad range of more than 100,000 original products to over 3.8 million active customers fast and at attractive prices. In addition, SHOP APOTHEKE EUROPE provides comprehensive pharmaceutical consulting services.

SHOP APOTHEKE EUROPE N.V. has been listed on the regulated market of the Frankfurt Stock Exchange (Prime Standard) since 13 October 2016 and is part of the SDAX index since 24 September 2018.

MEDIA CONTACTS.

Trade and popular media:
Sven Schirmer
Phone: +49 221 99 53 44 31
Email: presse@shop-apotheke.com

Financial media:
Thomas Schnorrenberg
Mobile: +49 151 46 53 13 17
Email: presse@shop-apotheke.com

Investor relations:
Dr. Ulrich Wandel
Phone: +31 77 850 6117
Email: ulrich.wandel@shop-apotheke.com












15.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language:
English
Company:
SHOP APOTHEKE EUROPE N.V.

Dirk Hartogweg 14

5928 LV Venlo


Netherlands
Phone:
0800 - 200 800 300
Fax:
0800 - 90 70 90 20
E-mail:
ulrich.wandel@shop-apotheke.com
Internet:
www.shop-apotheke-europe.com
ISIN:
NL0012044747, DE000A19Y072
WKN:
A2AR94, A19Y07
Indices:
SDAX
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:
811329

 
End of News
DGAP News Service




811329  15.05.2019 











Aktuelle Nachrichten aus der 4investors-Redaktion

17.05.2019 - Steinhoff International: Wichtige Sanierungsschritte vor dem Abschluss?
17.05.2019 - Senivita Sozial strebt Rückzahlungen an
17.05.2019 - Deutsche Wohnen: Neuer Vorstand
17.05.2019 - Beta Systems bestätigt erhöhte Prognose
17.05.2019 - Hönle will 2019/2020 wieder an starke Jahre anknüpfen
17.05.2019 - asknet Aktie schießt nach oben - das sind die Gründe
17.05.2019 - Dürr: „Zuversichtlich, dass wir unsere Jahresziele erreichen”
17.05.2019 - Volkswagen: Die China-Flaute schlägt zu
17.05.2019 - Endor: Zahlen und ein „Insiderverkauf”
17.05.2019 - init innovation: Neuer Auftrag aus Berlin


Chartanalysen

17.05.2019 - Evotec Aktie: Voller Erfolg!
17.05.2019 - Powercell Aktie: Droht jetzt der Absturz?
17.05.2019 - Steinhoff Aktie: Bisher nur schlappe Erholung - diese Marke ist entscheidend
17.05.2019 - Wirecard Aktie: Aller guten Dinge sind drei - starkes Kaufsignal voraus?
16.05.2019 - Gazprom Aktie nach Dividenden-Rallye: Party bald vorbei?
16.05.2019 - TUI Aktie: An dieser Aktienkurs-Marke scheint etwas zu passieren
16.05.2019 - ThyssenKrupp Aktie: Ein „Eldorado” für die Trader?
16.05.2019 - Wirecard Aktie: Jetzt könnte alles ganz schnell gehen, wenn…
16.05.2019 - Deutsche Bank Aktie: Kommt jetzt der große Durchbruch nach oben?
15.05.2019 - Evotec Aktie: Befreiungsschlag im Visier


Analystenschätzungen

17.05.2019 - TLG Immobilien: Millionenschwere Anleihe platziert
17.05.2019 - RWE: Verbesserte Perspektiven
17.05.2019 - Kapsch TrafficCom: Über den Erwartungen
17.05.2019 - 3U Holding: Starker Wochenausklang
17.05.2019 - Volkswagen: Neue Rekorde werden nicht ausgeschlossen
17.05.2019 - TUI: Langfristig intakter Trend
17.05.2019 - Haemato: Kaufempfehlung entfällt
17.05.2019 - Heidelberger Druckmaschinen: Kursziel wird reduziert
17.05.2019 - Patrizia Immobilien: Konservativer Ausblick
17.05.2019 - Indus: Abstufung nach der Warnung


Kolumnen

17.05.2019 - Big Data leads to Big Money: Pharmaindustrie im Datenrausch - Commerzbank Kolumne
17.05.2019 - Gold: Noch ist nichts gewonnen - UBS Kolumne
17.05.2019 - DAX: Die Bullen sind zurück - UBS Kolumne
17.05.2019 - DAX-Party: Konsolidierung nach der Party - Donner & Reuschel Kolumne
16.05.2019 - DAX: Wetten auf den Handelsdeal zwischen Washington und Peking - Nord LB Kolumne
16.05.2019 - Italien ist wieder ein Thema an den Märkten - Commerzbank Kolumne
16.05.2019 - Visa Aktie: Rally setzt sich fort - UBS Kolumne
16.05.2019 - DAX: Charttechnische Unterstützung als Sprungbrett - UBS Kolumne
16.05.2019 - DAX-Party: Buy the rumour sell the fact? - Donner & Reuschel Kolumne
15.05.2019 - US-Produktion: Selbst das Gestern erklärt diese heutigen Zahlen kaum - Nord LB Kolumne