Report
Andreas Riemann ...
  • Martin Marandon-Carlhian

Shop Apotheke Europe NV : Weaker 2021 is digested, focus on 2022 and e-script

>Q3 profits slightly below expectations on higher operating costs - In early October, Shop Apotheke already reported flat Q3 2021 sales y-o-y due to capacity constraints. DACH sales were down 6% while International sales were up 27%. We calculate that German Rx was down c. 40%. Yesterday, the company released its final Q3 results and thus reported adjusted EBITDA for Q3 of -€ 2.2m (consensus: € 0.5m, ODDO BHFe: -€ 1.5m) and thus below the consensus. The adjusted EBITD...
Underlying
Shop Apotheke Europe NV

Shop Apotheke Europe NV is a company based in the Netherlands that retails pharmaceutical products online. The Company focuses on non-prescription medication (OTC), as well as on pharmacy-related beauty and personal care (BPC) products. The Company is active in Belgium, Spain, Italy, France, Austria, the Netherlands and Germany.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Andreas Riemann

Martin Marandon-Carlhian

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