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ISIN: CH0042615283

Zur Rose Group: Revenue in the first quarter 2023 in line with plan

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Zur Rose Group AG / Key word(s): Development of Sales/Quarterly / Interim Statement
Zur Rose Group: Revenue in the first quarter 2023 in line with plan

20.04.2023 / 07:00 CET/CEST

Frauenfeld, 20 April 2023

Press release

Revenue in the first quarter 2023 in line with plan

  • Continued focus on the measures on the path to profitability in the first quarter of 2023
  • Sales decline of 11.8 per cent in local currency as expected
  • Outlook: Revenue and earnings targets confirmed for the financial year 2023

The Zur Rose Group continued to successfully focus on its measures on the path to profitability in the first quarter of 2023. Visible progress followed the structural cost savings implemented from August 2022, which were achieved in particular in Germany on the basis of logistics and integration measures as well as productivity improvements. Furthermore, marketing expenses were reduced year-on-year in the Germany and Europe segments, while marketing efficiency and the gross margin were significantly improved.

These measures led to a planned revenue development in the first quarter of 2023 with external revenue[1] of CHF 424.1 million, corresponding to minus 11.8 per cent in local currency or minus 14.1 per cent in Group currency compared to the same period of the previous year. The lower decline in consolidated revenue of 3.8 per cent compared to external revenue of 14.1 per cent is due to the integration of the medpex brand and the closure of the Eurapon brand in the fourth quarter of 2022. Excluding the Swiss business, whose revenue will no longer be consolidated in the 2023 financial year with the completion of the transaction with Medbase, external revenue decreased by 22.3 per cent in local currency.

In Germany, external revenue declined as planned by 22.6 per cent in local currency or 25.9 per cent in Group currency to CHF 232.4 million, the first quarter in 2023 contrasts to a marketing-intensive first quarter in 2022. Revenue from paper prescriptions declined by 19.0 per cent in local currency to CHF 45.0 million. In the Southern European marketplace business, sales decreased by 17.7 per cent in local currency or 21.2 per cent in Group currency to CHF 15.7 million. Revenues in Switzerland rose significantly by 10.1 per cent to CHF 177.8 million. The external revenue has thus reached a new basis for profitable growth.

Due to the focus on potential e-prescription customers in Germany, especially with a chronic medication need, the number of active customers[2] at the end of March 2023 decreased by around 0.9 to 9.5 million compared to the end of December 2022 and by around 2.6 million year-on-year.

In the current financial year 2023, the Zur Rose Group will continue to focus in particular on its action plan to create a sustainable basis for profitability growth. The structural measures and productivity improvements implemented in 2022 will take full effect this year and will significantly improve earnings again.

As previously communicated, the Zur Rose Group expects the transaction with Medbase (Migros) to close in the second quarter of 2023, subject to the approval of the competition authority. Excluding the Swiss business and regardless of the ramp-up speed of electronic prescriptions, management confirms the outlook communicated on 23 March:

  • mid-single-digit percentage decline in external revenue in 2023,
  • an improvement of adjusted EBITDA to between minus CHF 20 million and minus CHF 40 million in 2023,
  • capital expenditure of CHF 30 million to CHF 40 million in 2023,
  • adjusted EBITDA break-even in 2024,
  • medium-term adjusted EBITDA margin of 8 per cent.
Revenue, in CHF million (unaudited) 1.1.-31.03.2023 1.1.-31.03.2022 Change
Zur Rose Group external revenue
424.1 493.4 -14.1%
Zur Rose Group external revenue, in local currency     -11.8%
Zur Rose Group 402.8 418.9 -3.8%
Zur Rose Group, in local currency     -1.4%
Revenue from continuing operations
(excl. Swiss business)
Zur Rose Group external revenue 248.7 334.3 -25.6%
Zur Rose Group external revenue, in local currency     -22.3%
Zur Rose Group 227.5 259.7 -12.4%
Zur Rose Group, in local currency     -8.6%
Germany external revenue 232.4 313.7 -25.9%
Germany external revenue, in local currency 236   -22.6%
Germany 211.2 239.3 -11.8%
Germany, in local currency 203   -7.9%
Switzerland 177.8 161.5 10.1%
Europe 15.7 19.9 -21.2%
Europe, in local currency 16   -17.7%


Investors and analyst contact
Dr. Daniel Grigat, Group Head of Investor Relations & Sustainability
Email: [email protected], phone: +41 58 810 11 49

Media contact
Lisa Lüthi, Group Director Communications
Email: [email protected], phone: +41 52 724 08 14


4 May 2023 Annual General Meeting
17 August 2023 2023 Half-Year Results (11 a.m. CEST: Conference Call/Webcast)
19 October 2023 Q3/2023 Trading Update

Zur Rose Group
The Swiss-based Zur Rose Group is Europe’s largest online pharmacy and one of the leading wholesale suppliers to medical doctors in Switzerland. It also operates the leading marketplace for health and personal care products in southern Europe. The company is internationally present with strong brands – including DocMorris, Germany's best-known health platform. With its business model, the Zur Rose Group offers patients, customers and partners a broad range of products and services in the fields of e-commerce pharmacy, marketplace and professional health. In doing so, Zur Rose is pursuing its vision of creating a world for everyone to manage their health in one click. In 2022, about 2,700 employees in Switzerland, Germany, the Netherlands, Spain and France generated an external revenue of CHF 1,837 million serving around 10 million active customers. The shares of Zur Rose Group AG are listed on the SIX Swiss Exchange (securities number 4261528, ISIN CH0042615283, ticker ROSE). For further information, please visit

[1] External revenue consists of the consolidated revenue of the Zur Rose Group plus online revenues of pharmacies supplied by the Zur Rose Group, less the consolidated revenue from supplying them.

[2] Customers supplied by the Zur Rose Group, either directly or through its partners.

End of Media Release

Language: English
Company: Zur Rose Group AG
Walzmühlestrasse 60
8500 Frauenfeld
Phone: +41 52 724 08 14
ISIN: CH0042615283
Listed: SIX Swiss Exchange
EQS News ID: 1611777

End of News EQS News Service

1611777  20.04.2023 CET/CEST

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