Redcare Pharmacy Reports Impressive Double-Digit Sales Growth in Q1 2024

Redcare Pharmacy N.V. has announced a remarkable start to the year with its quarterly sales figures for Q1 2024, showcasing a significant boost in growth. The company reported a 51% increase in total sales year over year, reaching EUR 560M, and a notable 19% growth excluding MediService. Non-prescription (Non-Rx) sales surged by 20% to EUR 404M.

Furthermore, the active customer base broadened to 11.2 million, marking an increase of 400,000 in the first quarter alone and 1.5 million year over year. The company's net promoter score remained exceptionally high at around 70. In addition, Redcare has applied for approval of its NFC eHealth-CardLink solution, a fully digital method for e-prescription redemption, anticipated to streamline pharmacy access in Germany.

Sales in the DACH region (Germany, Austria, and Switzerland) experienced a robust increase of 56.6% to EUR 453 million, influenced significantly by the consolidation of MediService. Prescription medication sales in this segment soared by 348.3% to EUR 156 million. Redcare Pharmacy attributes part of its prescription sales growth to increased marketing efforts, following the mandatory adoption of e-prescriptions in Germany from January 1, 2024.

The international segment, covering Belgium, Italy, France, and the Netherlands, also displayed strong growth of 29.1%, resulting in sales of EUR 107 million.

All figures released are preliminary and unaudited, with the complete interim report scheduled for publication on April 25, 2024.