Frauenfeld, 21 January 2025
Press release
DocMorris grows 6.7 per cent in 2024 and accelerates Rx growth in the fourth quarter
- All business divisions contribute to revenue growth in 2024
- OTC revenues increase by 6.7 per cent in 2024
- New Rx customers grew fivefold and Rx revenue up 16.6 per cent in the fourth quarter of 2024
- TeleClinic with profitable doubling of revenue in 2024
- Cash position of CHF 95 million at the end of 2024
DocMorris achieved the communicated revenue target for 2024: External revenue[1] grew by 6.7 per cent year-on-year in local currency to CHF 1,085.0 million. All business divisions contributed to the sales growth. As at the end of December 2024, the number of active customers[2] increased from 10.2 million in the third quarter of 2024 to 10.3 million. DocMorris successfully completed the break-even programme with the integration of the Zur Rose brand and the closure of the Halle/Saale site.
In the main market of Germany, external revenue in local currency rose by 6.9 per cent to CHF 1,021.9 million in 2024 compared to the previous year. The over-the-counter (OTC) medicines business recorded growth of 6.7 per cent in local currency in 2024 and reached break-even at EBITDA level.
The upward trend in the prescription medicines (Rx) business in Germany accelerated further in the fourth quarter of 2024: After a year-on-year decline of 17.5 per cent in the first quarter of 2024, DocMorris achieved a 16.6 per cent increase in revenue in local currency in the fourth quarter of 2024 compared to the previous year. The number of new Rx customers increased fivefold in the fourth quarter of 2024 compared to the same period of the previous year. New Rx customers have significantly higher order frequencies and basket values than paper Rx customers. Despite significant paper prescription revenue from people with statutory health insurance in the previous year and the delayed introduction of CardLink, the turnaround in prescription redemptions was achieved with revenue growth of 2.1 per cent in local currency in 2024 compared to the previous year. Rx growth continued at over 30 per cent in December until the Christmas week. The first weeks of 2025 show a further acceleration.
Germany's leading telemedicine platform TeleClinic doubled its revenue to around CHF 11 million in 2024 compared to the previous year with a clearly positive EBITDA contribution. In the Europe segment, which focuses on Spain, France and Portugal, revenue in local currency increased by 3.6 per cent year-on-year to CHF 63.1 million in 2024.
DocMorris has cash and cash equivalents of CHF 95 million at the end of 2024.
Outlook confirmed
DocMorris confirms the targets for 2024 communicated in August:
- Adjusted EBITDA of around minus CHF 50 million, including e-prescriptions
- Capital expenditure of around CHF 30 million
| Revenue, in CHF million (preliminary, unaudited) |
1.10.-31.12.2024 |
1.10.-31.12.2023 |
Change |
| |
|
|
|
| Continuing operations (excl. Swiss business) |
|
|
|
| DocMorris external revenue |
289.2 |
280.0 |
3.3% |
| DocMorris external revenue in local currency |
|
|
5.3% |
| DocMorris |
272.5 |
265.3 |
2.7% |
| DocMorris in local currency |
|
|
4.6% |
| |
|
|
|
| Markets |
|
|
|
| Germany external revenue |
273.9 |
265.3 |
3.2% |
| Germany external revenue in local currency |
|
|
5.2% |
| Germany external revenue Rx |
53.0 |
46.2 |
14.7% |
| Germany external revenue Rx in local currency |
|
|
16.6% |
| Germany external revenue OTC |
214.3 |
216.0 |
-0.8% |
| Germany external revenue OTC in local currency |
|
|
1.2% |
| Germany |
257.1 |
250.6 |
2.6% |
| Germany in local currency |
|
|
4.6% |
| Europe |
15.4 |
14.7 |
4.7% |
| Europe in local currency |
|
|
6.6% |
| Revenue, in CHF million (preliminary, unaudited) |
1.1.-31.12.2024 |
1.1.-31.12.2023 |
Change |
| |
|
|
|
| Continuing operations (excl. Swiss business) |
|
|
|
| DocMorris external revenue |
1,085.0 |
1,037.5 |
4.6% |
| DocMorris external revenue in local currency |
|
|
6.7% |
| DocMorris |
1,017.1 |
969.5 |
4.9% |
| DocMorris in local currency |
|
|
7.0% |
| |
|
|
|
| Markets |
|
|
|
| Germany external revenue |
1,021.9 |
975.4 |
4.8% |
| Germany external revenue in local currency |
|
|
6.9% |
| Germany external revenue Rx |
179.2 |
179.0 |
0.1% |
| Germany external revenue Rx in local currency |
|
|
2.1% |
| Germany external revenue OTC |
824.1 |
787.9 |
4.6% |
| Germany external revenue OTC in local currency |
|
|
6.7% |
| Germany |
954.0 |
907.4 |
5.1% |
| Germany in local currency |
|
|
7.2% |
| Europe |
63.1 |
62.1 |
1.6% |
| Europe in local currency |
|
|
3.6% |
Investors and analyst contact
Dr. Daniel Grigat, Head of Investor Relations & Sustainability
Email: ir@docmorris.com, phone: +41 52 560 58 10
Media contact
Torben Bonnke, Director Communications
Email: media@docmorris.com, phone: +49 171 864 888 1
Agenda
| 13 March 2025 |
2024 Full-year results and outlook 2025 (conference call/webcast) |
| 10 April 2025 |
Q1/2025 Trading Update |
| 8 May 2025 |
Annual General Meeting, Zurich |
| 19 August 2025 |
2025 Half-year results (conference call/webcast) |
| 16 October 2025 |
Q3/2025 Trading Update |
DocMorris
The Swiss-based DocMorris AG is a leading company in the fields of online pharmacy, marketplace and professional healthcare with strong brands in Germany and other European countries. Deliveries are mainly from the highly automated logistics centre in Heerlen, the Netherlands, with a capacity of over 27 million parcels per year. In Spain and France, the company operates the leading marketplace for health and personal care products in Southern Europe. With its business model, DocMorris offers its patients, customers and partners a broad range of products and services. In doing so, DocMorris is pursuing its vision of creating a digital health ecosystem for everyone to manage their health in one click. In 2024, around 1,600 employees in Germany, the Netherlands, Spain, France and Switzerland generated an external revenue of CHF 1,085 million serving more than10 million active customers. The shares of DocMorris AG are listed on the SIX Swiss Exchange (securities number 4261528, ISIN CH0042615283, ticker DOCM). For further information, please visit corporate.docmorris.com.
[1] External revenue consists of the consolidated revenue of DocMorris plus online revenues of pharmacies supplied by DocMorris, less the consolidated revenue from supplying them.
[2] Customers supplied by DocMorris, either directly or through its partners
