Online drug retailer DocMorris trims top end of 2023 outlook (updated)

DocMorris AG

19/10/2023 06:41

(Adds outlook and Q3 revenue from paragraph 3)
       Oct 19 (Reuters) - Swiss online drug retailer DocMorris
 DOCM.S  on Thursday narrowed down the higher end of its annual
core loss forecast, citing weaker development in the paper
prescription business.
    It sees adjusted core loss of 30 million to 40 million Swiss
francs ($33.4 million to $44.5 million) in 2023, compared to the
previous range of 20-40 million.
    The company, which relies heavily on the German market since
it sold its Swiss business to Migros earlier this year, still
aims to become profitable in 2024. This target does not take
into account a positive effect of e-prescriptions, which were
rolled out across Germany in July.
    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 external revenue fell 5.8% to 256 million Swiss francs
in the third quarter, below the 262 million francs expected by
analysts polled by the company.
($1 = 0.8990 Swiss francs)

 (Reporting by Tristan Veyet and Mateusz Dobrzyniewski in
Gdansk; editing by Milla Nissi)
 ((Tristan.Chabba@thomsonreuters.com;))