DocMorris net adjusted core loss in line with expectations (updated)

DocMorris AG

17/08/2023 06:55

(Adds context, e-scripts in paragraphs 4,5, outlook in
paragraph 6)
       Aug 17 (Reuters) - Swiss online drug retailer DocMorris
 DOCM.S  reported a first-half adjusted core loss roughly in
line with expectations on Thursday, a result boosted by the
consolidation of its distribution centre in Heerlen,
Netherlands.
    The adjusted loss before interest, taxes, depreciation and
amortisation (EBITDA) of 20.8 million Swiss francs ($23.6
million) was in line with estimates according to a poll of
analysts provided by the company.
    DocMorris, which relies heavily on the German market since
the sale of its Swiss business to Migros, said it hopes to turn
profitable in 2024 as Germany rolls out e-prescription
country-wide.
    A new e-prescription redemption channel was launched on time
in Germany, DocMorris said, adding that in July 2023 alone, more
than 340,000 e-prescriptions were filled, 38% more than in the
previous month.
    "After completing the focus on potential e-prescription
customers in Germany, especially with a chronic medication need,
the number of active customers as of the end of June 2023 is 9.0
million," it added.
    Regardless of the growth of electronic prescriptions, the
company reiterated its outlook for the financial year of 2023,
as well as its objective to turn profitable on adjusted EBITDA
by 2024, excluding e-prescriptions.

    ($1 = 0.8801 Swiss francs)

 (Reporting by Tristan Veyet and Ozan Ergenay in Gdansk; Editing
by Stephen Coates)
 ((Tristan.Chabba@thomsonreuters.com;
ozan.ergenay@thomsonreuters.com))