Redcare Pharmacy

Jefferies raised the target price for Redcare Pharmacy from €83 to €97 and kept the rating at 'Buy'. Analyst Martin Comtesse adjusted estimates for the reporting season and names Redcare his new favorite among online pharmacies. Jefferies says Redcare delivered a strong first half of the year, beating expectations on growth, customer additions and profitability; Jefferies views management’s raised full-year targets as still conservative. The stock rose during XETRA trading by about 2.7 percent at one point to €63.70. » More on finanzen.net

Redcare Pharmacy reported 20% revenue growth year‑on‑year in the second quarter and an adjusted EBITDA margin of 3.5%, the highest level in ten years. The Rx business drove growth (+34% quarter‑on‑quarter); Rx revenue in Germany rose 58%. Active customers climbed to 14.7 million and H1 revenue reached €1.7bn (+19%). The company raised its full‑year revenue growth guidance to 15–17% and expects margin improvements, but sees near‑term risks from lower gross margins, non‑positive cash‑flow timing and a possible slowdown in Rx growth in H2. The stock reacted moderately positively, while analysts diverge significantly in their price targets. » More on de.investing.com

Redcare Pharmacy increased sales in the second quarter by 20 percent to €853 million; the Rx business in the DACH region grew 34 percent to €339 million and by 58 percent in Germany. Adjusted EBITDA rose to €30 million (previous year €18 million) and the margin improved to 3.5 percent. The company confirmed the annual guidance raised in June: revenue growth 15–17 percent, Non-Rx +10–12 percent, Rx in Germany 35–43 percent and adjusted EBITDA margin 2.5–3.0 percent. » More on finanzen.net