Shop Apotheke Europe’s revenue grows 60% to €284 million
Shop Apotheke Europe saw its consolidated revenue increase by 60 percent to 284 million euros at the end of last year. This is partly because of a major increase in the number of active customers, but also because of the acquisition of Europa Apotheek in September.
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At the end of 2016, Shop Apotheke Europe had 1.8 million active customers and this number increased to about 2.7 million by the end of last year, the company states. But the online pharmacy did not only grow organically, it also took over a competitor. In September of last year, the company acquired Europa Apotheek, as part of its plan to strengthen its market leadership in Europe. Shop Apotheke now says that the acquisition contributed 25 million euros to the company’s total sales growth.
Revenues in its core market Germany increased by 44 percent to 209 million euros. But the strongest growth drivers were the international markets, including Austria, France, Belgium, the Netherlands, Spain and Italy. In these markets, the pharmacy’s revenue increased by 146 percent to 74 million euros.
26 percent of revenue is from outside Germany
“Overall, we are very satisfied with our successful growth from last year”, says CFO Ulrich Wandel. “We have increased the share of our international revenues significantly from 17 percent in 2016 to about 26 percent last year and have consistently continued to invest in the expansion and automation of our warehouse, logistics and IT infrastructure.” He also says that with the acquisition of Europa Apotheek, the company has broadened its product range with prescription drugs for additional German and future international growth.