DocMorris slumps on outlook cut, earnings miss

DocMorris AG

19/10/2023 08:18

** DocMorris  DOCM.S  shares fall 15%, as Swiss online drug
retailer cut its full year outlook
    ** It now sees its yearly adjusted core loss reaching 30
million Swiss francs to 40 million Swiss francs ($33.38
million-$44.50 million), from a previous target margin of 20-40
million Swiss francs
    ** DocMorris also cut its 2023 external revenue outlook,
expecting a high single-digit percentage decline in local
currency, from a previously expected mid-single-digit drop
    ** Its Q3 external revenue fell 5.8% to 256 million Swiss
francs, below the 262 million francs expected by analysts polled
by the company
    ** "I think it is more related to the outlook cut,
particularly as it is related to the weaker than expected
prescription business" Gerhard Orgonas, analyst at Berenberg,
writes
    ** Share on track for its worst day since 2022-11-03, when
it closed 16.6 % lower
    ** DocMorris drags peer RedCare Pharmacy  RDC.DE  in its
fall, the latter being down 4% 

($1 = 0.8988 Swiss francs)

 (Reporting by Tristan Veyet)
 ((Tristan.chabba@thomsonreuters.com))