Redcare Pharmacy NV (CHIX:RDCd)

Half Year 2026 Redcare Pharmacy NV Earnings Call Transcript

Jul 29, 2026 / 08:00 AM GMT

Release Date Price: €51.58

Transcript

Key Points

Positve

Redcare Pharmacy NV (SHPPF) increased its 2026 revenue growth guidance to 15% to 17%, up from the previous 13% to 15%.
The company reported a significant increase in RX active customers in Germany, reaching 1.7 million, a 4% growth quarter over quarter.
Adjusted EBITDA margin improved to 3.5% in Q2, marking the highest level in 10 years.
The company has successfully reduced marketing spending while maintaining high growth, indicating efficient cost management.
Redcare Pharmacy NV (SHPPF) has achieved a decade of double-digit growth, with a significant expansion of its active customer base since its IPO.

Negative

The German non-RX business experienced some deceleration in growth, partly attributed to a heatwave and competitive market conditions.
The introduction of a personal signature requirement for prescription deliveries may slightly increase last-mile delivery costs.
July trading was softer, with expected group growth below 20%, indicating potential challenges in maintaining high growth rates.
The company faces challenges in accelerating new customer acquisition, particularly in changing customer behavior and adoption.
Despite increased profitability, the company was not cash flow positive in Q2, highlighting ongoing challenges in cash cycle management.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

RDC.DE - Redcare Pharmacy NV
Half Year 2026 Redcare Pharmacy NV Earnings Call
Jul 29, 2026 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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To Olaf Heinrich, CEO, please go ahead.

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Unidentified_2 [2]
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Yes, thank you very much and good morning to everybody and very warm welcome from our side.

Let's have a look at the agenda of today. So first of all, we would like to start with a recap, then a business update, afterwards financial updates, and then we have plenty of time for a Q&A session.

So if we go to the next slide, let's start with an update from the guidance. As we increased our 2026 guidance for revenue growth and profitability back in June. And I want to

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