DGAP-News SHOP APOTHEKE EUROPE Exceeds Repeatedly Raised Sales and Earnings Guidance for 2020 after Strong Fourth Quarter.
DGAP-News: SHOP APOTHEKE EUROPE N.V. / Key word(s): Annual Results/Forecast
SHOP APOTHEKE EUROPE Exceeds Repeatedly Raised Sales and Earnings Guidance for 2020 after Strong Fourth Quarter.
- Full-year sales grew by 38.1% to EUR 968 million at group level.
- DACH segment sales +32.5%, International segment +78.4%.
- Break-even achieved: Adj. EBITDA margin improved by 4.1 percentage points from -1.9% in 2019 to 2.2% in 2020.
- Financial position significantly improved: Positive cash flow from operating business (EUR +17.8 million after EUR -30.7 million in 2019) and substantially lower financing costs going forward.
- Guidance for 2021: Full-year sales growth of around 20% or more, adj. EBITDA margin in the range of 2.3 - 2.8%, Capex 3.5% of sales.
Sevenum / Venlo, the Netherlands, 3 March 2021. SHOP APOTHEKE EUROPE N.V. is looking back on an extraordinary year: The e-pharmacy exceeded its repeatedly raised sales and earnings guidance and finished the year with group sales of EUR 968 million after EUR 701 million in 2019 (+38.1%). In 2020, a record number of 1.6 million additional active customers was gained, bringing the total number of active customers to 6.3 million.
The adjusted EBITDA margin, originally forecasted to break even in 2020, improved by 4.1 percentage points (pp) from -1.9% in 2019 to +2.2%. For 2021, the management expects a continuation of the dynamic growth course with an organically driven sales increase of around 20% or more. The adj. EBITDA margin is expected to improve again to 2.3 - 2.8%.
SHOP APOTHEKE EUROPE CEO Stefan Feltens comments: "We want to express our deepest appreciation for the commitment of SHOP APOTHEKE EUROPE's employees who did an impressive job to ensure the supply of medications to patients across Europe in this highly unusual year. Despite unexpectedly high order volume peaks, we didn't have to reject a single order due to capacity constraints. Moreover, our customer satisfaction continued to be on a very high level throughout the year. At the same time, we passed major strategic milestones to develop SHOP APOTHEKE EUROPE from an online retailer into a truly customer-centric e-pharmacy platform."
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