Earnings release
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Redcare Pharmacy delivers strong Q3, with revenue increasing 18% driven by Rx and adjusted EBITDA margin up 1 . 0pp YoY to 3.4%. • Group revenue increased 18% year over year to EUR 847 million; nine - month revenue reached EUR 2.55 billion, up 19% year over year. • Non - Rx revenue grew 9%, while Rx revenue increased 31%, with Rx Germany maintaining its strong momentum at 56% growth. • Adjusted EBITDA increased 68% year over year to EUR 28.7 million in Q3 with margin up 1.0pp to 3.4%. • The active customer base increase d by 0.5 million during Q3 to 15.2 million. Sevenum, the Netherlands, October 29, 2026. Redcare Pharmacy delivered another strong performance in the third quarter of 2026, realizing a net profit for the second consecutive quarter . Group revenue increased 18% to EUR 847 million (Q3'25: EUR 719 million) driven by strong Rx growth in Germany . Adjusted EBITDA increased 68% to EUR 2 9 million, corresponding to a margin of 3.4% versus 2.4% in Q3 2025 . For the first nine months of 2026, Group revenue increased 19% to EUR 2.55 billion (9M'25: EUR 2.15 billion) while adjusted EBITDA reached EUR 7 3 million, a margin of 2.9% . The active customer base reached 15.2 million at the end of September, an increase of 1. 5 million or 11% year over year and 0.5 million versus Q2 . Customer satisfaction remained high with an overall Net Promoter Score (NPS) of 76 and an e - Rx NPS of 78. Peter Schmid von Linstow, CEO of Redcare Pharmacy, comments : „ O ur Rx business in Germany has performed strongly in Q3 and we are especially happy ab out havin g increased our active customer base by 123 K customers in Q3 , nearly doubling the 65 K in crease in Q2 . Q3 was a lso a significant step forward in terms of profitability in DACH where we increased EBITDA margin by 1.2pp year over year to 4.2%. We will continue to optimize our marketing mix and increase operational leverage to translate scale into profitability across all segments . ” Strong growth in Rx and robust growth in non - Rx . Group non - Rx revenue increased 9% year over year to EUR 489 million (Q3'25: EUR 447 million). In DACH , non - Rx revenu e grew 8% to EUR 340 million, compared to EUR 315 million in Q3 2025 . Rx revenue increased 31% to EUR 358 million (Q3'25: EUR 272 million) driven by Germany where Rx revenue grew 56% to EUR 197 million . In Switzerland (MediService) , Rx revenue grew 10% to EUR 161 million. Total DACH revenue increased 19% to EUR 697 million (Q3'25: EUR 587 million) while total International revenue grew 13% to EUR 149 million (Q3'25: EUR 132 million).
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Significant improvement of prof itability. Gross profit increased to EUR 185 million in Q3'26 (Q3'25: EUR 159 million). The gross profit margin was 21.8%, compared with 22.1% in Q3'25. The year - over - year de cline of 0.3 pp was considerably smaller than the 1.7 pp point decline in Q2 . Adjusted selling and distribution expenses, which amounted to EUR 132 million, accounted for 16% of revenue, improving from 17 % in Q3’25. This reduction is driven by lower marketing spend and lower cost per order. Adjusted administrative expenses, which totaled EUR 24 million, accounted for 3 % of reve nue , in line with Q3’25. As a result, the adjusted EBITDA increased 68% to EUR 2 9 million, compared to EUR 17 million in the prior - year quarter. The adjusted EBITDA margin improved by 1.0 pp to 3.4%. For the first nine months of 2026, Group adjusted EBITDA reached EUR 7 3 million, a margin of 2.9%. In Q3, net income was positive at EUR 1 million and free cash flow was EUR 15 million. DACH contributed an adjusted EBITDA of EUR 29 million, up from EUR 1 8 million in Q3'25, with a margin of 4.2% after 3.0% last y ear. The International segment 's adjusted EBITDA was flat year over year at EUR - 1 million, corresponding to a margin of - 0.4% . F ull - year 2026 guidance. Redcare Pharmacy confirms its upgraded guidance for the full year 2026: • Total revenue growth of 16% to 18%. • Non - Rx growth of 10% to 12%. • Rx revenue in Germany between EUR 730 and 760 million, representing growth of 45% to 51%. • Adjusted EBITDA margin between 2.5% and 3.0%. Revenue breakdown. EUR million Q 3 2025 Q 3 2026 Growth 9M 20 25 9M 2026 Growth Consolidated net revenues 719 847 18% 2 , 146 2 , 550 19% DACH Rx revenues 272 358 3 1 % 758 1, 0 13 3 4 % Thereof Germany 1 26 1 9 7 5 6 % 348 544 5 7 % Thereof Switzerland (MediService) 1 46 1 61 1 0 % 410 469 1 4 % Non - Rx revenues 3 15 3 40 8 % 986 1,074 9%
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EUR million Q 3 2025 Q 3 2026 Growth 9M 20 25 9M 2026 Growth International Non - Rx revenues 13 2 1 49 1 3 % 402 463 1 5 % Profitability. EUR million Q 3 2025 Q 3 2026 9M 2025 9M 2 026 Consolidated EBITDA 1 5 2 8 39 7 0 Consolidated adjusted EBITDA 1 7 29 44 73 Adjusted EBITDA margin 2. 4 % 3. 4 % 2 . 1 % 2. 9 % DACH EBITDA 1 6 2 9 45 74 DACH adjusted EBITDA 1 8 2 9 48 75 Adjusted EBITDA margin 3. 0 % 4. 2 % 2. 8 % 3. 6 % International EBITDA ( 1 ) ( 1 ) ( 6 ) ( 4 ) International adjusted EBITDA ( 1 ) ( 1 ) ( 4 ) ( 3 ) Adjusted EBITDA margin ( 0 . 4 )% ( 0. 4) % ( 0.9 )% (0. 6 )% Upcoming publications and events. Date Publication / Event January 11 , 2027 FY 2026 Trading Update March 03 , 2027 FY 2026 Financial Results Investor Relations c ontact: Irina Zhurba Director, Investor Relations investor s@redcare - pharmacy.com
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Media c ontact: Sven Schirmer Director, Corporate Communications press@redcare - pharmacy.com About Redcare Pharmacy. Originally founded in 2001, Redcare Pharmacy N.V., with EUR 2.9B in revenues in 2025, is the leading online pharmacy in Europe and active in seven countries (Germany, Austria, France, Belgium, Italy, the Netherlands and Switzerland). Headquartered in the N etherlands, Redcare Pharmacy offers its over 15 million active c ustomers more than 500,000 different healthcare - related products. Besides OTC drugs, nutritional supplements, beauty and personal care products, the company also provides prescription drugs for customers in Germany, Switzerland and the Netherlands, operati ng as a true one - stop pharmacy. As the pharmacy of the future, Redcare stands for comprehensive pharmaceutical services for its customers – with pharmaceutical safety always being the top priority. Redcare Pharmacy N.V. has been listed on the Regulated Mar ket of the Frankfurt Stock Exchange, Prime Standard, since 2016 and is part of the S DAX.