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Online pharmacy Zur Rose improves 2022 core loss target

Online pharmacy Zur Rose improves 2022 core loss target
Online pharmacy Zur Rose improves 2022 core loss target Copyright Thomson Reuters 2023
Copyright Thomson Reuters 2023
By Reuters
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-Zur Rose expects a smaller full-year core loss than previously guided, the Swiss online drug retailer said on Thursday, citing a faster-than-planned progress in its break-even programme for 2023.

It forecast adjusted core loss (EBITDA) of between 70 million and 75 million Swiss francs ($76.39 million and $81.84 million) in 2022, compared with its previous range of 75 million to 85 million francs.

The company said its external revenue was 1.84 billion francs in 2022, down 5.4% year-on-year but in line with its annual guidance.

External revenue means the group's consolidated revenue together with mail-order revenue of pharmacies it supplies, after removing the revenue from their supply.

Protracted delays in Germany's e-prescription roll-out have clouded the growth outlook for online pharmacies such as Zur Rose and Frankfurt-listed peer Shop Apotheke, and exposed their stocks to volatility amid the slow and uncertain progress.

Zur Rose said it should be possible to redeem e-prescriptions in pharmacies using the electronic health card from mid-2023, with a nationwide introduction expected from the summer of 2023.

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

Zur Rose said it would provide an outlook for 2023 along with its full annual results on March 23.

($1 = 0.9164 Swiss francs)

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