SHOP APOTHEKE EUROPE: change of forecast for the 2021 financial year
Sevenum, 22 July 2021. In the context of preparing the interim financial report for the first half of 2021, the Management Board of SHOP APOTHEKE EUROPE has analysed the company's financial development and as a result has come to a new assessment of the forecast for the 2021 financial year.
Taking into account constraints in order processing capacity in connection with a tight labour market that became apparent in the course of Q2, the Management Board now expects full-year sales growth of 10 to 15 percent (previously: around 20 percent) and an adjusted EBITDA margin around break-even (previously: 2.3 to 2.8 percent). The expected Capex volume has been narrowed to around EUR 45 million (previously: 3.5 percent of sales). According to the company, the current logistics constraints are temporary and an isolated issue without impacting any of the future growth opportunities.
Additional explanatory information to the adhoc announcement:
CEO Stefan Feltens: "The constrained logistics capacity at this moment, is of a temporary nature and expected to be resolved over the coming months. Our long-term growth prospects are not impacted and remain fully intact. The mandatory introduction of electronic prescriptions (eRx) in Germany is around the corner, we are well-prepared and in a pole position with our digital expertise and leading SHOP APOTHEKE brand."
Jasper Eenhorst, CFO of SHOP APOTHEKE EUROPE, explains: "Due to the current parallel operation of two logistics centres in connection with the move to our new, largely automated, logistics facility, and continuing strong customer demand, we could not fully meet our staffing needs in Q2 and July - especially in the context of a tight labour market that became apparent in the course of Q2. We feel comfortable that we will overcome these constraints in the coming months in order to re-accelerate our growth again later this year, as reflected in our updated guidance."
Conference Call on 23 July 2021, 11:00 CEST
The company will hold a conference call tomorrow at 11 a.m. CEST to discuss the updated forecast. Stefan Feltens, CEO, and Jasper Eenhorst, CFO, will host the call. Participants can access the call by dialing one of the numbers provided below and referencing confirmation code 8646132. Callers should dial in 5-10 minutes prior to the call time.
+49 (0)69 2222 2018
+44 (0)330 336 9434
SHOP APOTHEKE EUROPE N.V. will publish the full interim report for the first half of 2021 on 5 August 2021.
ABOUT SHOP APOTHEKE EUROPE. SHOP APOTHEKE EUROPE is one of Europe's leading and fastest-growing online pharmacies, currently operating in Germany, Austria, France, Belgium, Italy, the Netherlands and Switzerland.
Headquartered in the Dutch logistics hub of Sevenum near Venlo with locations in Cologne, Berlin, Munich, Warsaw, Milan, Paris and Tongeren, SHOP APOTHEKE EUROPE offers its customers a broad range of more than 100,000 original products at attractive prices: OTC, beauty and personal care products as well as prescription drugs, supplemented by high quality natural food and health products, low carb products and sports nutrition. Currently, more than 7 million active customers trust SHOP APOTHEKE EUROPE.
Since safe and reliable pharmaceutical advice are top priorities at SHOP APOTHEKE EUROPE, the e-pharmacy provides comprehensive pharmaceutical consulting services.
In preparation for the introduction of electronic prescriptions in Germany in summer 2021, the company will further improve the customer experience with focus on disease-specific digital medication management services following the acquisition of SMARTPATIENT in January 2021. This is a key part of SHOP APOTHEKE EUROPE's strategy to transform itself from a pure online retailer into a truly customer-centric e-pharmacy platform.
SHOP APOTHEKE EUROPE N.V. has been listed on the regulated market of the Frankfurt Stock Exchange (Prime Standard) since 2016 and has been part of the MDAX stock index since September 2020.
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