Zur Rose Group: Revenue in the first quarter 2023 in line with plan
Zur Rose Group AG
/ Key word(s): Development of Sales/Quarterly / Interim Statement
Frauenfeld, 20 April 2023
Revenue in the first quarter 2023 in line with plan
The Zur Rose Group continued to successfully focus on its measures on the path to profitability in the first quarter of 2023. Visible progress followed the structural cost savings implemented from August 2022, which were achieved in particular in Germany on the basis of logistics and integration measures as well as productivity improvements. Furthermore, marketing expenses were reduced year-on-year in the Germany and Europe segments, while marketing efficiency and the gross margin were significantly improved.
These measures led to a planned revenue development in the first quarter of 2023 with external revenue of CHF 424.1 million, corresponding to minus 11.8 per cent in local currency or minus 14.1 per cent in Group currency compared to the same period of the previous year. The lower decline in consolidated revenue of 3.8 per cent compared to external revenue of 14.1 per cent is due to the integration of the medpex brand and the closure of the Eurapon brand in the fourth quarter of 2022. Excluding the Swiss business, whose revenue will no longer be consolidated in the 2023 financial year with the completion of the transaction with Medbase, external revenue decreased by 22.3 per cent in local currency.
In Germany, external revenue declined as planned by 22.6 per cent in local currency or 25.9 per cent in Group currency to CHF 232.4 million, the first quarter in 2023 contrasts to a marketing-intensive first quarter in 2022. Revenue from paper prescriptions declined by 19.0 per cent in local currency to CHF 45.0 million. In the Southern European marketplace business, sales decreased by 17.7 per cent in local currency or 21.2 per cent in Group currency to CHF 15.7 million. Revenues in Switzerland rose significantly by 10.1 per cent to CHF 177.8 million. The external revenue has thus reached a new basis for profitable growth.
Due to the focus on potential e-prescription customers in Germany, especially with a chronic medication need, the number of active customers at the end of March 2023 decreased by around 0.9 to 9.5 million compared to the end of December 2022 and by around 2.6 million year-on-year.
In the current financial year 2023, the Zur Rose Group will continue to focus in particular on its action plan to create a sustainable basis for profitability growth. The structural measures and productivity improvements implemented in 2022 will take full effect this year and will significantly improve earnings again.
As previously communicated, the Zur Rose Group expects the transaction with Medbase (Migros) to close in the second quarter of 2023, subject to the approval of the competition authority. Excluding the Swiss business and regardless of the ramp-up speed of electronic prescriptions, management confirms the outlook communicated on 23 March:
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Zur Rose Group
 External revenue consists of the consolidated revenue of the Zur Rose Group plus online revenues of pharmacies supplied by the Zur Rose Group, less the consolidated revenue from supplying them.
 Customers supplied by the Zur Rose Group, either directly or through its partners.
End of Media Release
|Company:||Zur Rose Group AG|
|Phone:||+41 52 724 08 14|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1611777|
|End of News||EQS News Service|