Redcare Pharmacies stock jumps 7% as Q3 Rx sales rebound supports FY25 targets

Investing.com -- Redcare Pharmacies (ETR:RDC) reversed a two-quarter decline in prescription (Rx) sales in the third quarter, reporting €126 million in German Rx sales, up 82% year-over-year, and confirmed full-year 2025 guidance, sending shares up more than 7% on Monday.

Incremental Rx sales increased €12 million quarter-over-quarter, up from €6 million in Q2, meeting consensus expectations of €126 million. 

The company added 200,000 customers in Q3 to reach a total of 13.7 million, slower than the 400,000 added in Q2 2025. 

Jefferies noted that “the marketing push with direct eRx bonus post-summer likely supported growth, especially in September.” 

The brokerage also flagged management’s comment from a recent fireside discussion: there is “confidence in capturing additional customers in H2 following a more muted first half.”

Jefferies said “continued optimisation of the marketing proposition and several potential mid-term catalysts on the horizon - such as repeat scripts, changes in reimbursement for chronic care, and growing awareness amongst the German population - our outlook for Rx remains constructive.”

Group sales for Q3 were €719 million, up 25% year-over-year and broadly in line with Jefferies’ estimate of €720 million. Mediservice sales rose to €146 million, a 20% increase compared with 15% in Q2 2025.

Non-Rx sales reached €448 million, up 17% year-over-year, consistent with Q2 growth. Within the DACH segment, Non-Rx sales were €315 million, up 13% year-over-year but slightly below Q2’s €322 million. International segment sales were €132 million, up 25% year-over-year.

Through the first nine months of FY25, German Rx sales reached €348 million, up 122% year-over-year.

Jefferies said this implies “a meaningful stepup in Q4 with at least €152m” in Rx sales, comparable to a sequential uplift of €28 million in Q4 last year. 

Full-year targets remain on track, with Non-Rx sales expected at about €523 million (18% YoY) and group sales projected at €818 million (21% YoY).

Jefferies addressed the departure of Redcare Pharmacies’ chief financial officer, Jasper Eenhorst, noting it as “a move by the company to counter prevailing negative market sentiment and signal a willingness to proactively reshape internal dynamics where deemed necessary.” Eenhorst will remain until year-end, with his successor expected “in the coming weeks rather than months.”