Half Year 2025 DocMorris AG Earnings Call Transcript
Key Points
- DocMorris AG (ZRSEF) reported a strong 43.5% increase in Rx business revenues, highlighting robust growth in this segment.
- TeleClinic revenues surged by more than 150% year-on-year, showcasing significant momentum and potential for future growth.
- The company successfully completed a CHF200 million capital increase with a 99% take-up rate, indicating strong shareholder confidence.
- DocMorris AG is leveraging AI innovation with the rollout of the DocMorris Health Companion, aiming to transform into a comprehensive health platform.
- The Rx bonus was reconfirmed by the German Federal Court of Justice, providing legal clarity and strengthening the company's competitive positioning in the market.
- Adjusted EBITDA was reported at minus CHF28.8 million, worse than the first half of 2024, due to increased marketing expenses.
- Revenue growth in Q2 was lower at 7.1% compared to 13.4% in Q1, partly due to fewer working days and a focus on profitability.
- The closure of the Crosse pharmacy in Germany negatively impacted non-Rx business growth.
- Despite strong Rx growth, the digital uptake of electronic prescriptions remains low at 1% to 1.5%, indicating a slow transition.
- The company faces challenges in accelerating OTC and BPC product growth, with competitive market conditions impacting performance.
Good morning everybody and thank you for joining today's conference call which will be hosted by Daniel Wuest, our CFO, and me. Let me start by giving you a quick overview of the key highlights from the first half of 2025.
We delivered strong growth in our Rx business with revenues increased by 43.5%. In July, the Rx bonus was reconfirmed, which strengthens our competitive positioning in the German market. TeleClinic revenues grew by more than 150% year on year, while our non-RX business in total continued to deliver steady and profitable growth of 4.4%. We also took an important step into the future by leveraging AI innovation and starting the rollout of the DocMorris Health Companion.
Financially, we successfully completed the CHF200 million capital increase with a 99% take-up rate, demonstrating strong shareholder support and confidence in our strategy. And finally, we are on track to deliver on our promises. We confirm our guidance of more than 10% revenue growth and an EBITDA in the range of CHF35
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