Frauenfeld, 13 March 2025

These written materials or the information contained therein is not being issued and may not be distributed in the United States of America, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful or require registration or any other measure and does not constitute an offer of securities for sale in such countries.

Press release
Ad hoc announcement pursuant to Art. 53 LR

DocMorris achieves 2024 targets, expects Rx growth of around 50 per cent in the first quarter of 2025 and plans capital increase

• Revenue and earnings targets for 2024 achieved
• Non-Rx business in Germany profitable
• TeleClinic significantly increases revenue and earnings
• Expected Rx growth of around 50 per cent in the first quarter of 2025
• DocMorris prepares capital increase of around CHF 200 million

In 2024, the electronic prescription established itself as the new standard in Germany. This is also reflected at DocMorris: the prescription drugs (Rx) business saw a significant upturn and has been growing continuously since the introduction of CardLink in April 2024. At the same time, the non-Rx business in Germany^[1] achieved a positive operating result at EBITDA level. DocMorris successfully completed the break-even programme by closing the Halle site and discontinuing the ‘Zur Rose’ brand in 2024. The company met the revised expectations for the reporting year announced in August 2024: external revenue[2] increased by 4.6 per cent year on year, or 6.7 per cent in local currency, to CHF 1,085.0 million. All business areas contributed to revenue growth. Adjusted EBITDA amounts to minus CHF 48.6 million. The number of active customers^[3] rose from 9.1 million at the end of 2023 to 10.3 million at the end of 2024.

Positive development in all business areas in Germany
With growth of 6.9 per cent in local currency compared to the previous year, DocMorris generated external revenue of CHF 1,022.0 million in Germany in 2024. Due to the increased Rx marketing measures, the adjusted EBITDA decreased to minus CHF 47.2 million (previous year: minus CHF 31.8 million).

In the Rx business, an intensified marketing campaign to acquire new customers in the remaining eight months of 2024 more than offset the impact of restricted market access until April 2024. The number of new Rx customers tripled in 2024 compared to the previous year and increased fivefold from the fourth quarter of 2023 to the fourth quarter of 2024. The customer loyalty and order frequency rate of new e-prescription customers is significantly better than that of paper prescription customers. Following the successful introductory campaign to launch e-prescriptions, DocMorris is now implementing the next stage of its strategic communication. The new advertising campaign, under the slogan ‘Mach's Dir Doc einfach!’ with a song of the same name, is designed to ensure that the CardLink prescription redemption is sustainably remembered and that the number of DocMorris app downloads and orders continues to increase. With the launch of the CardLink solution in the medpex app in March 2025 and the Apotal app in the second quarter of 2025, the active customer base of these brands should be even more accessible in the future.

In the non-Rx business DocMorris achieved a positive operating result at EBITDA level. Profitability was increased by improved margins, economies of scale in retail media and marketplace, a stronger private label business and further improvements in operational and marketing efficiency. This should lay the foundations for profitable growth.

TeleClinic made a significantly positive contribution to EBITDA of around CHF 3 million, doubling its revenue to CHF 11 million. In view of the increasing demand from patients, doctors and strategic partners, TeleClinic continues to expect strong revenue and even stronger earnings growth in the years ahead.

Turnaround in Spain and France
In the Europe segment, DocMorris increased its revenue by 3.6 per cent in local currency to CHF 63.1 million in 2024 compared to the previous year. This positive turnaround is the result of a new model for acquiring profitable customers that is geared towards growth again.

CO₂e emissions reduced by 67 per cent
In 2024, DocMorris made significant progress in its environmental performance: by switching to climate-neutral electricity from renewable sources, the company was able to reduce CO₂e emissions by 67 per cent compared to the previous year. In addition, further measures are planned to reduce emissions to net zero, as described in the TCFD report (Task Force on Climate-related Financial Disclosures). For the first time, the 2024 Sustainability Report is aligned with the European Sustainability Reporting Standards (ESRS), which are based on the EU Corporate Sustainability Reporting Directive (CSRD).

Outlook
DocMorris expects continuous growth in all business units. Based on the development until end of February, Rx revenue for the first quarter 2025 is expected to grow by around 50 per cent compared to the previous year. A more comprehensive outlook including short and mid-term expectations will be announced in the context of the planned capital increase.

Capital increase
DocMorris is evaluating various options for raising equity of around CHF 200 million, primarily through a capital increase with subscription rights for existing shareholders. The aim is to strengthen the balance sheet in order to support strategic goals, such as acquiring new Rx customers over the next few years, and to safeguard a possible refinancing of the CHF 95 million convertible bond 2026. The company has mandated banks to evaluate, structure, schedule and execute the capital increase. The results of the evaluation and the necessary proposals to the Annual General Meeting on 8 May 2025 will be communicated when the first-quarter 2025 revenue figures are published on 10 April 2025.

Share lending facility: In the event of a rights offering, rights to subscribe for new shares would be allocated to shares borrowed indirectly from the Company under a share lending facility, created to facilitate hedging for convertible bond (c. 3m shares, majority currently lent out). Borrowers under the facility are contractually obliged to return these rights. Alternative options for convertible bond holders, who are also borrowers under the Company’s share lending facility are likely to be offered in proportion to their holding of convertible bonds.

The annual report, which also includes the sustainability report, was published today and can be downloaded here.

1) External revenue consists of the consolidated revenue of DocMorris plus online revenues of pharmacies supplied by DocMorris, less the consolidated revenue from supplying them.

2) 2023 revenue adjusted for the payment of performance obligations satisfied in prior years.

3) Reclassification of CHF 3.6 million due to incorrect allocation of capital expenditures paid in connection with intangible assets between continuing and discontinued operations in 2023.

4) 2023 restated due to improved systems and methodology

At 11 a.m. CET today there will be a conference call in English for analysts and the media.

Investors and analyst contact
Dr. Daniel Grigat, Head of Investor Relations & Sustainability
Email: ir@docmorris.com, phone: +41 52 560 58 10

Media contact
Torben Bonnke, Director Communications
Email: media@docmorris.com, phone: +49 171 864 888 1

Agenda

DocMorris
The Swiss-based DocMorris AG is a leading company in the fields of online pharmacy, marketplace and professional healthcare with strong brands in Germany and other European countries. Deliveries are mainly from the highly automated logistics centre in Heerlen, the Netherlands, with a capacity of over 27 million parcels per year. In Spain and France, the company operates the leading marketplace for health and personal care products in Southern Europe. With its business model, DocMorris offers its patients, customers and partners a broad range of products and services. In doing so, DocMorris is pursuing its vision of creating a digital health ecosystem for everyone to manage their health in one click. Around 1,600 employees in Germany, the Netherlands, Spain, France, Portugal and Switzerland generated an external revenue of CHF 1,085 million serving more than10 million active customers in 2024. The shares of DocMorris AG are listed on the SIX Swiss Exchange (securities number 4261528, ISIN CH0042615283, ticker DOCM). For further information, please visit corporate.docmorris.com.

Disclaimer

This publication constitutes neither an offer to sell nor a solicitation to buy securities of the Company and it does not constitute a prospectus or a similar notice within the meaning of articles 35 et seqq. or 69 of the Swiss Financial Services Act. Copies of this publication may not be sent to jurisdictions, or distributed in or sent from or otherwise made publicly available in jurisdictions, in which this is barred or prohibited by law. Any offer and listing will be made solely by means of, and on the basis of, a prospectus which is to be published. An investment decision regarding the publicly offered securities of the Company should only be made on the basis of such prospectus. The prospectus, if and when published, will be available free of charge on the Company's website.

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The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States or to US persons (as such term is defined in Regulation S under the Securities Act) unless the securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available.  The issuer of the securities has not registered, and does not intend to register, any portion of the offering in the United States, and does not intend to conduct a public offering of securities in the United States. The securities are being offered and sold outside the United States in reliance on Regulation S and within the United States to "Qualified Institutional Buyers" (as defined in Rule 144A under the Securities Act ("Rule 144A")) in reliance on Rule 144A. Prospective purchasers are hereby notified that sellers of the Securities may be relying on the exemption from the provisions of Section 5 of the Securities Act provided by Rule 144A.

This communication is not for distribution in the United States, Canada, Australia, Japan or any other jurisdiction in which the distribution or release would be unlawful or require registration or any other measure. This communication does not constitute an offer to sell, or the solicitation of an offer to buy, securities in any jurisdiction in which is unlawful to do so.

This publication may contain specific forward-looking statements, e.g., statements including terms like "believe", "assume", "expect", "forecast", "project", "may", "could", "might", "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the Company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward-looking statements. The Company assumes no responsibility to up-date forward-looking statements or to adapt them to future events or developments.

^[1] Consisting of OTC business, services and TeleClinic.

^[2] External revenue consists of the consolidated revenue of DocMorris plus online revenues of pharmacies supplied by DocMorris, less the consolidated revenue from supplying them.

^[3] Customers supplied by DocMorris, either directly or through its partners.