DocMorris continues to grow in the first quarter of 2024 and creates digital access to the entire e-prescription market

DocMorris AG / Key word(s): Quarterly / Interim Statement DocMorris continues to grow in the first quarter of 2024 and creates digital access to the entire e-prescription market 16.04.2024 / 06:57 CET/CEST Frauenfeld, 16 April 2024

Press release

DocMorris continues to grow in the first quarter of 2024 and creates digital access to the entire e-prescription market

• Revenue development as planned in the first quarter with growth of 10.3 per cent
• Positive indications for e-prescription market share
• Successful completion of the Germany-wide rollout of fully digital e-prescription redemption via the DocMorris app this week
• Outlook: indicative revenue and earnings forecast confirmed

DocMorris continued the positive revenue trend of the previous quarter as planned in the first quarter of 2024. External revenue^[1] increased by 10.3 per cent in local currency compared to the same period of the previous year. In Group currency, revenue rose by 5.5 per cent to CHF 262.4 million. As at the end of March 2024, the number of active customers[2] increased by 600,000 to 9.7 million compared to the previous quarter. This development confirms the turnaround towards sustainable, profitable growth.

Double-digit revenue growth in Germany
In the main market of Germany, external revenue in the first quarter of 2024 grew by 11.1 per cent in local currency or 6.3 per cent in Group currency to CHF 247.0 million compared to the same period of the previous year. This strong growth was driven by over-the-counter (OTC) medicines, particularly within the core brand DocMorris. At the same time, the growth reflects a relatively low prior-year basis. In local currency, OTC Sales increased by 17.2 per cent. As expected, revenue of prescription medicines initially declined by 17.5 per cent in local currency, as the e-prescription, which is mandatory since the beginning of 2024, could not yet be redeemed fully digitally at online pharmacies in the first quarter. The positive indications of DocMorris' market share for e-prescriptions continue to improve from month to month. This trend will continue with the launch of the CardLink solution via the DocMorris app. Currently, more than 2 million e-prescriptions are issued every day and more than 150 million e-prescriptions have already been redeemed.