Online Pharmacy Zur Rose Improves Waste Target for 2022

(Reuters) Zur Rose expects a smaller underlying loss for the full year than previously thought, the Swiss online drug retailer said on Thursday, citing faster-than-planned progress on its 2023 break-even program.

It projects adjusted core losses (EBITDA) of CHF 70 million to 75 million ($76.39 million to $81.84 million) in 2022, compared to the previous range of CHF 75 million to 85 million.

The company said its 2022 external revenue was CHF1.84 billion, down 5.4% year-over-year but in line with its full-year guidance.

External revenue means the group’s consolidated revenue, together with mail-order revenue from the pharmacies it supplies, after deducting revenue from their supplies.

Protracted delays in the rollout of e-prescriptions in Germany have clouded the growth prospects of online pharmacies such as Zur Rose and Frankfurt-listed Peer Shop Apotheke, exposing their stocks to volatility amid slow and uncertain progress.

Zur Rose said that from mid-2023, it will be possible to redeem e-prescriptions in pharmacies using an electronic health record, and nationwide rollout is expected from summer 2023.

Germany, which accounted for two-thirds of the company’s external revenue in 2021, accounted for 59% of Zur Rose’s 2022 revenue.

Zur Rose said it will release its 2023 outlook along with its full year results on March 23.

($1 = CHF 0.9164)

(Reporting by Tristan Chabba and Anastasia Kozlova in Gdansk; edited by Milla Nissi)

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