DocMorris (DOCM) Q3 2024 TU earnings summary

Executive summary

• Rx revenue in Germany grew 12.2% year-over-year in Q3 2024, accelerating to over 25% in recent weeks.

• OTC revenue increased 1.9% year-over-year in Q3 2024.

• TeleClinic doubled its revenue compared to Q3 2023.

• Group external revenue rose 4.9% in local currency to CHF 265.7 million in Q3 2024.

• Active customers increased by 200,000 to 10.2 million at the end of September 2024.

Financial highlights

• Q3 2024 external revenue: CHF 265.7 million, up 3.8% year-over-year.

• Nine-month 2024 external revenue: CHF 795.8 million, up 5.1% year-over-year.

• Germany Q3 Rx revenue: CHF 48.1 million, up 11.2% year-over-year.

• Germany Q3 OTC revenue: CHF 197.5 million, up 0.7% year-over-year.

• Europe segment Q3 revenue: CHF 15.4 million, up 6.3% year-over-year.

Outlook and guidance

• 2024 targets confirmed: external revenue growth of 5–10%, including e-prescriptions.

• Adjusted EBITDA expected around minus CHF 50 million for 2024.

• Capital expenditure planned at around CHF 30 million.