Dis-Chem Pharmacies Ltd (JSE:DCP)

Full Year 2026 Dis-Chem Pharmacies Ltd Earnings Call Transcript

May 29, 2026 / 08:00 AM GMT

Release Date Price: R34.97 (-7.80%)

Transcript

Key Points

Positve

Dis-Chem Pharmacies Ltd (JSE:DCP) reported strong revenue growth of 9.3% and total income growth of 9.6%, indicating robust financial performance.
The Better Rewards program has been successful, driving significant market share gains and enhancing customer value.
The company has launched the Health Hub, a 'store of the future' format, which has improved clinic experiences and reduced costs.
Dis-Chem Pharmacies Ltd (JSE:DCP) has expanded its wholesale market share, with external wholesale market revenue growth of 11.3%.
The company has invested heavily in digital transformation, with plans to release a new app and expand its e-commerce offerings.

Negative

Operating profit for the group declined by 11.9% due to investments in the ecosystem and non-recurring expenses.
The wholesale margin declined from 8.2% to 7.2% due to product mix and procurement costs.
Employee costs increased by 11.5%, which remains a significant expense within the retail segment.
The baby care segment experienced softness, with revenue growth of only 5.3%, attributed to market decline and commoditization.
The company is undergoing a large-scale restructuring, affecting 545 employees, which may pose challenges in retaining intellectual property.

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

DCPJ.J - Dis-Chem Pharmacies Ltd
Full Year 2026 Dis-Chem Pharmacies Ltd Earnings Call
May 29, 2026 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning everyone and welcome to the results presentation for the year ended 28th of February 2026.

I will quickly go through some group highlights before we dive into each of them as Julia and I and Chris cycle through the presentation.

Importantly, we launched Better Rewards and we are returning significant instant value to consumers.

Better Rewards is delivering strong revenue growth, excellent market share gains.

And ultimately not compromising on total income margin. When we think about property, our pipeline is at now 163,000 square meters and we have launched the Health Hub, our store of the future format, as well as re-architecting the operational model to ensure that the

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