SHOP APOTHEKE EUROPE INH. WKN: A2AR94 ISIN: NL0012044747 Kürzel: RDC Forum: Aktien Thema: Hauptdiskussion

Hat einer eigentlich Infos wie der Stand bei Rx Versand Erlaubnis in den anderen grossen Ländern Frankreich, Italien Österreich in den nächsten Jahren sein wird, aktuell ja noch verboten und hohe Apothekendichte

hierzu sehr lesenswert aus dem letzten AnalystenCall: ..." But on top of that, we are very happy that we have the opportunity, and we will talk about that later, that we actually have opened Pilsen to add capacity to our European infrastructure, and also major step-change in the automation of our logistics. That is this year leading to a peak and, to a smaller extent, also the coming year. But then, for many years after that, we will have the capacity and a step-change in our efficiency. We can easily finance that with our balance sheet. We also have the option to potentially later decide to lease a large part of the logistics automation. But this, to clarify, that the increase of automation, sorry, the increase of investment that you might have seen in Q2 and Q3 is here on the slide. It is only in 2025 and 2026, because, to the best of our expectations, we believe that we will go back to below the 2% in the years after these investments. Being at around 2% of sales, that means that we are, in my classification, a capital- light business model. Our longer term, mid to longer term, adjusted EBITDA guidance stands, so 8% of sales or more, but only requiring around 2% of sales, even if you include those peaks. If you look at it from a couple of years average perspective. Olaf? That was a lot. Olaf Heinrich: Yes, that was a lot. But thank you very much for giving this update, which clearly shows that our asset-light model is ready to scale, I would say. Jasper Eenhorst: Yes. Olaf Heinrich: And three key messages again, here. First of all, Jasper pointed this really nicely out, we have a strong operating cash conversion from EBITDA to cash. Secondly, already today, in 2025, our operating cash flow that we generate is more than sufficient to finance Rx scaling and, at the same time, to fund the level of our regular investments. In 2025 and 2026, we have a temporary and targeted investment in Pilsen and logistics, and logistic automation, and we will look into that more in the two upcoming slides. But also for this, we are very well funded. So if I look at this, at this picture, I think it's fair to say we have everything we need in our hands. So, over the past years, we have achieved market leadership and a cash-generating business in non-Rx through excellence and execution. And now, we will do the same kind of thing and conquer the Rx market. So therefore, we are on our way, and the initial numbers clearly support that we are in the direction also of scaling the Rx business...

Deutsch wäre schön..

Dann schieß mal los, welche Investitionen meinst du? Der riesige Werbeaufwand für das e-Rezept und das neue Versandzentrum in Pilsen haben Ende 2024/2025 belastet. Worüber sprichst du jetzt?

Peak Investitionen sollen 2025/26 kommen, wobei der größte Teil für 2025 geplant waren

Rc plant für 2026 keine großen Investitionen und für Rc gibt es sowieso keine Konkurrenz…

Rc plant für 2026 keine großen Investitionen und für Rc gibt es sowieso keine Konkurrenz…