Institutional Sign In

Go

Zur Rose

Zur Rose's employees rose 8.72% yoy to 2,131 in 2021

By Helgi Analytics - October 8, 2022

Zur Rose employed 2,131 employees in 2021, up 8.72% compared to the previous year. Historically, between 2009 and 2021,...

Zur Rose's net profit fell 66.4% yoy to CHF -226 mil in 2021

By Helgi Analytics - October 8, 2022

Zur Rose made a net profit of CHF -226 mil with revenues of CHF 1,727 mil in 2021, down by 66.4% and up by 16.9%, r...

Zur Rose's price/earnings (P/E) rose 46.8% yoy to -10.1 in 2021

By Helgi Analytics - October 8, 2022

Zur Rose stock traded at CHF 236 per share at the end 2021 translating into a market capitalization of USD 2,648 mil. Since the e...

Profit Statement 2019 2020 2021
Sales CHF mil 1,356 1,477 1,727
Gross Profit CHF mil 209 251 263
EBITDA CHF mil -13.8 -78.4 -143
EBIT CHF mil -45.7 -118 -194
Financing Cost CHF mil 4.40 13.5 14.9
Pre-Tax Profit CHF mil -50.1 -133 -227
Net Profit CHF mil -52.4 -136 -226
Dividends CHF mil 0 0 0
Balance Sheet 2019 2020 2021
Total Assets CHF mil 992 1,278 1,269
Non-Current Assets CHF mil 564 739 732
Current Assets CHF mil 428 539 537
Working Capital CHF mil 105 115 92.3
Shareholders' Equity CHF mil 406 532 485
Liabilities CHF mil 586 747 784
Total Debt CHF mil 438 571 569
Net Debt CHF mil 233 270 291
Ratios 2019 2020 2021
ROE % -12.3 -29.0 -44.4
ROCE % -9.90 -17.8 -26.9
Gross Margin % 15.4 17.0 15.2
EBITDA Margin % -1.02 -5.31 -8.26
EBIT Margin % -3.37 -7.96 -11.2
Net Margin % -3.86 -9.19 -13.1
Net Debt/EBITDA -16.8 -3.44 -2.04
Net Debt/Equity % 57.4 50.7 60.0
Cost of Financing % 1.50 2.67 2.62
Valuation 2019 2020 2021
Market Capitalisation USD mil 961 3,060 2,648
Enterprise Value (EV) USD mil 1,202 3,365 2,966
Number Of Shares mil 8.66 9.08 9.65
Share Price CHF 107 283 236
EV/EBITDA -84.8 -39.7 -18.7
EV/Sales 0.866 2.11 1.54
Price/Earnings (P/E) -17.7 -18.9 -10.1
Price/Book Value (P/BV) 2.29 4.83 4.68
Dividend Yield % 0 0 0

Get all company financials in excel:

Download Sample   $19.99

overview Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
income statement                                      
Sales CHF mil               880 983 1,207 1,356 1,477              
Gross Profit CHF mil               132 147 181 209 251              
EBIT CHF mil               -7.09 -38.3 -32.9 -45.7 -118              
Net Profit CHF mil               -12.8 -36.2 -39.0 -52.4 -136              
                                         
ROE % ...             -14.5 -18.2 -10.6 -12.3 -29.0              
EBIT Margin %               -0.806 -3.90 -2.72 -3.37 -7.96              
Net Margin %               -1.45 -3.69 -3.23 -3.86 -9.19              
Employees               752 1,106 1,314 1,710 1,960   ... ... ... ... ... ...
balance sheet                                      
Total Assets CHF mil               262 462 727 992 1,278              
Non-Current Assets CHF mil               102 188 310 564 739              
Current Assets CHF mil               160 273 417 428 539              
                                         
Shareholders' Equity CHF mil               104 294 444 406 532              
Liabilities CHF mil               158 168 283 586 747              
Non-Current Liabilities CHF mil               19.5 48.5 164 374 590              
Current Liabilities CHF mil               138 119 119 213 157              
                                         
Net Debt/EBITDA               13.9 4.47 5.90 -16.8 -3.44              
Net Debt/Equity %               28.5 -32.2 -18.6 57.4 50.7              
Cost of Financing % ...             4.40 6.73 2.10 1.50 2.67              
cash flow                                      
Total Cash From Operations CHF mil               -13.8 -22.2 -33.2 -82.6 -67.5              
Total Cash From Investing CHF mil               -23.1 -62.2 -140 -143 -200              
Total Cash From Financing CHF mil               37.0 166 297 200 363              
Net Change In Cash CHF mil               0.136 82.5 123 -26.0 95.9              
valuation                                      
Market Capitalisation USD mil               320 832 758 961 3,060              
Enterprise Value (EV) USD mil               349 735 674 1,202 3,365              
Number Of Shares mil               3.55 5.51 6.35 8.66 9.08              
Share Price CHF               75.7 131 89.7 107 283              
Price/Earnings (P/E)               -21.0 -18.9 -14.6 -17.7 -18.9              
Price/Cash Earnings (P/CE)               -28.2 -22.3 -16.7 -19.6 -19.9              
EV/EBITDA               165 -34.5 -47.2 -84.8 -39.7              
Price/Book Value (P/BV)               2.59 2.45 1.28 2.29 4.83              
Dividend Yield %               0 0 0 0 0              
income statement Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
income statement                                      
Sales CHF mil               880 983 1,207 1,356 1,477              
Cost of Goods & Services CHF mil               748 835 1,026 1,147 1,226              
Gross Profit CHF mil               132 147 181 209 251              
Selling, General & Admin CHF mil               43.7 61.1 66.2 88.1 111   ... ... ... ... ... ...
Research & Development CHF mil               0 0 0 0 0   ... ... ... ... ... ...
Other Operating Expense CHF mil               707 810 977 1,120 1,215   ... ... ... ... ... ...
Staff Cost CHF mil               60.2 78.3 93.7 117 143   ... ... ... ... ... ...
Other Operating Cost (Income) CHF mil               5.40 9.74 3.07 42.0 14.8   ... ... ... ... ... ...
EBITDA CHF mil               2.12 -21.2 -14.0 -13.8 -78.4              
Depreciation CHF mil               3.25 3.85 4.92 5.10 6.65              
EBIT CHF mil               -7.09 -38.3 -32.9 -45.7 -118              
Net Financing Cost CHF mil               2.47 2.30 1.46 4.35 12.6              
Financing Cost CHF mil               2.48 2.30 1.70 4.40 13.5              
Financing Income CHF mil               0.013 0 0.237 0.051 0.929              
FX (Gain) Loss CHF mil               0.404 -4.28 3.89 -1.34 -2.15              
(Income) / Loss from Affiliates CHF mil               0.630 -0.134 -0.173 -0.031 3.30   ... ... ... ... ... ...
Extraordinary Cost CHF mil               0 0 0 0 0              
Pre-Tax Profit CHF mil               -12.7 -36.5 -38.5 -50.1 -133              
Tax CHF mil               0.053 -0.241 0.553 2.27 2.44              
Minorities CHF mil               0 -0.027 -0.129 -0.018 0.051              
Net Profit CHF mil               -12.8 -36.2 -39.0 -52.4 -136              
Net Profit Avail. to Common CHF mil               -12.8 -36.2 -39.0 -52.4 -136              
Dividends CHF mil               0 0 0 0 0              
growth rates                                      
Total Revenue Growth % ...             5.41 11.8 22.8 12.3 8.96              
Operating Cost Growth % ...             7.17 15.6 20.6 16.1 11.5   ... ... ... ... ... ...
Staff Cost Growth % ...             12.0 30.2 19.6 25.4 21.6   ... ... ... ... ... ...
EBITDA Growth % ...             -86.6 -1,098 -33.9 -1.16 466              
EBIT Growth % ...             -184 440 -14.2 39.1 157              
Pre-Tax Profit Growth % ...             -415 187 5.59 30.0 166              
Net Profit Growth % ...             -471 184 7.54 34.4 159              
ratios                                      
ROE % ...             -14.5 -18.2 -10.6 -12.3 -29.0              
ROA % ...             -5.16 -10.0 -6.56 -6.09 -12.0              
ROCE % ...             -9.22 -17.8 -12.1 -9.90 -17.8              
Gross Margin %               15.0 15.0 15.0 15.4 17.0              
EBITDA Margin %               0.241 -2.16 -1.16 -1.02 -5.31              
EBIT Margin %               -0.806 -3.90 -2.72 -3.37 -7.96              
Net Margin %               -1.45 -3.69 -3.23 -3.86 -9.19              
Payout Ratio %               0 0 0 0 0              
Cost of Financing % ...             4.40 6.73 2.10 1.50 2.67              
Net Debt/EBITDA               13.9 4.47 5.90 -16.8 -3.44              
balance sheet Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
balance sheet                                      
Cash & Cash Equivalents CHF mil               25.4 108 231 205 301              
Receivables CHF mil               71.4 84.0 92.3 127 115              
Unbilled Revenues CHF mil ... ... ... ... ... ... ... ... 4.72 3.93 0.415 0.419              
Inventories CHF mil               48.3 59.3 69.4 70.6 92.9              
Other ST Assets CHF mil               14.6 17.5 20.3 25.4 30.0              
Current Assets CHF mil               160 273 417 428 539              
Property, Plant & Equipment CHF mil               26.2 29.7 34.3 77.1 96.6              
LT Investments & Receivables CHF mil               1.83 0.981 1.08 6.16 27.9              
Intangible Assets CHF mil               63.1 148 265 465 605              
Goodwill CHF mil               10.4 83.1 172 335 435              
Non-Current Assets CHF mil               102 188 310 564 739              
Total Assets CHF mil               262 462 727 992 1,278              
                                         
Trade Payables CHF mil               70.7 75.3 83.1 92.1 93.3              
Short-Term Debt CHF mil               50.0 10.4 3.52 87.4 6.80              
Other ST Liabilities CHF mil               3.75 13.0 9.53 6.92 14.7              
Current Liabilities CHF mil               138 119 119 213 157              
Long-Term Debt CHF mil               5.00 2.85 145 350 564              
Other LT Liabilities CHF mil               14.5 45.6 19.2 23.4 26.3              
Non-Current Liabilities CHF mil               19.5 48.5 164 374 590              
Liabilities CHF mil               158 168 283 586 747              
Preferred Equity and Hybrid Capital CHF mil               0 0 0 0 0              
Share Capital CHF mil               24.9 35.8 48.1 262 316              
Treasury Stock CHF mil               0.903 1.22 5.45 5.22 31.9              
Equity Before Minority Interest CHF mil               104 294 444 406 532              
Minority Interest CHF mil               0 0.219 0.030 -0.110 0              
Equity CHF mil               104 294 444 406 532              
growth rates                                      
Total Asset Growth % ...             12.0 76.6 57.3 36.5 28.9              
Shareholders' Equity Growth % ...             42.6 183 50.8 -8.58 31.1              
Net Debt Growth % ...             -8.72 -420 -12.8 -382 15.9              
Total Debt Growth % ...             -5.09 -75.9 1,019 195 30.4              
ratios                                      
Total Debt CHF mil               55.0 13.2 148 438 571              
Net Debt CHF mil               29.6 -94.7 -82.6 233 270              
Working Capital CHF mil               48.9 68.0 78.6 105 115              
Capital Employed CHF mil               151 256 388 669 854              
Net Debt/Equity %               28.5 -32.2 -18.6 57.4 50.7              
Current Ratio               1.16 2.30 3.50 2.01 3.44              
Quick Ratio               0.700 1.61 2.72 1.56 2.65              
cash flow Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
cash flow                                      
Net Profit CHF mil               -12.8 -36.2 -39.0 -52.4 -136              
Depreciation CHF mil               3.25 3.85 4.92 5.10 6.65              
Non-Cash Items CHF mil               4.67 2.62 5.26 -34.9 26.6              
Change in Working Capital CHF mil               -14.9 -5.73 -18.4 -27.2 2.32              
Total Cash From Operations CHF mil               -13.8 -22.2 -33.2 -82.6 -67.5              
                                         
Capital Expenditures CHF mil               -19.9 -21.6 -31.5 -41.5 -59.8              
Net Change in LT Investment CHF mil               -1.28 -0.121 -0.450 -3.21 -24.0              
Net Cash From Acquisitions CHF mil               -2.15 -40.9 -109 -103 -116              
Other Investing Activities CHF mil               0.261 0.432 0.244 4.62 0.025              
Total Cash From Investing CHF mil               -23.1 -62.2 -140 -143 -200              
                                         
Dividends Paid CHF mil               0 0 0 0 0              
Issuance Of Shares CHF mil               42.5 222 185 0.495 206              
Issuance Of Debt CHF mil               -3.87 -56.1 112 200 158              
Other Financing Activities CHF mil               -1.64 0 0 -0.314 -0.743              
Total Cash From Financing CHF mil               37.0 166 297 200 363              
                                         
Effect of FX Rates CHF mil               0.037 1.07 -0.624 -0.450 0.053              
Net Change In Cash CHF mil               0.136 82.5 123 -26.0 95.9              
ratios                                      
Days Sales Outstanding days               29.6 31.2 27.9 34.1 28.4              
Days Sales Of Inventory days               23.6 25.9 24.7 22.5 27.7              
Days Payable Outstanding days               34.5 32.9 29.6 29.3 27.8              
Cash Conversion Cycle days               18.7 24.2 23.0 27.3 28.3              
Cash Earnings CHF mil               -9.52 -32.4 -34.1 -47.3 -129              
Free Cash Flow CHF mil               -36.9 -84.4 -174 -226 -267              
Capital Expenditures (As % of Sales) %               2.27 2.20 2.61 3.06 4.05              
other ratios Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
                                       
Employees               752 1,106 1,314 1,710 1,960   ... ... ... ... ... ...
Cost Per Employee USD per month               6,640 5,928 6,062 5,863 6,571   ... ... ... ... ... ...
Cost Per Employee (Local Currency) CHF per month               6,667 5,903 5,942 5,726 6,076   ... ... ... ... ... ...
Women (As % of Workforce) % ... ... ... ... ... ... ... ... ... ... ... ...   ... ... ... ... ... ...
Women (As % of Management) % ... ... ... ... ... ... ... ... ... ... ... 22.2 ... ... ... ... ... ... ...
Operating Cost (As % of Sales) %               101 105 103 106 109   ... ... ... ... ... ...
Research & Development (As % of Sales) %               0 0 0 0 0   ... ... ... ... ... ...
Staff Cost (As % of Sales) %               6.84 7.97 7.76 8.67 9.68   ... ... ... ... ... ...
Effective Tax Rate %               -0.417 0.660 -1.43 -4.52 -1.83              
Total Revenue Growth (5-year average) % ... ... ... ... ...     12.5 13.4 5.80 8.16 12.1              
Total Revenue Growth (10-year average) % ... ... ... ... ... ... ... ... ... ... 9.89 11.7              
Customers mil ... ... ... ... ... ... ... ... ... 6.00 7.08 10.5              
valuation Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
                                       
Market Capitalisation USD mil               320 832 758 961 3,060              
Enterprise Value (EV) USD mil               349 735 674 1,202 3,365              
Number Of Shares mil               3.55 5.51 6.35 8.66 9.08              
Share Price CHF               75.7 131 89.7 107 283              
EV/EBITDA               165 -34.5 -47.2 -84.8 -39.7              
Price/Earnings (P/E)               -21.0 -18.9 -14.6 -17.7 -18.9              
Price/Cash Earnings (P/CE)               -28.2 -22.3 -16.7 -19.6 -19.9              
P/FCF               -7.27 -8.55 -3.28 -4.11 -9.61           ...  
Price/Book Value (P/BV)               2.59 2.45 1.28 2.29 4.83              
Dividend Yield %               0 0 0 0 0              
Free Cash Flow Yield %               -11.5 -10.2 -23.3 -24.0 -9.45              
Earnings Per Share (EPS) CHF               -3.60 -6.94 -6.14 -6.04 -15.0              
Cash Earnings Per Share CHF               -2.68 -5.88 -5.36 -5.45 -14.2              
Free Cash Flow Per Share CHF               -10.4 -15.3 -27.3 -26.1 -29.5              
Book Value Per Share CHF               29.3 53.4 69.9 46.8 58.6              
Dividend Per Share CHF               0 0 0 0 0              
EV/Sales               0.398 0.744 0.548 0.866 2.11              
EV/EBIT               -49.4 -19.1 -20.1 -25.7 -26.5              
EV/Free Cash Flow               -9.48 -8.67 -3.81 -5.20 -11.6           ...  
EV/Capital Employed               2.36 2.80 1.71 1.74 3.49              
Earnings Per Share Growth % ...             -436 92.8 -11.5 -1.63 148              
Cash Earnings Per Share Growth % ...             -249 119 -8.75 1.68 161              
Book Value Per Share Growth % ...             29.0 82.4 30.9 -33.0 25.2              
Market Value per Customer USD ... ... ... ... ... ... ... ... ... 126 136 291              
Sales per Customer USD ... ... ... ... ... ... ... ... ... 205 196 152              
EBITDA per Customer USD ... ... ... ... ... ... ... ... ... -2.38 -2.00 -8.07              
Net Profit per Customer USD ... ... ... ... ... ... ... ... ... -6.63 -7.58 -14.0              
clients & arpu Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
                                       
Customers mil ... ... ... ... ... ... ... ... ... 6.00 7.08 10.5              
Basket Size (USD) USD ... ... ... ... ... ... ... ... ... 71.5 64.6 63.5   ... ... ... ... ... ...
Order Frequency ... ... ... ... ... ... ... ... ... 2.60 2.40 2.20   ... ... ... ... ... ...
Repeat Order Rate % ... ... ... ... ... ... ... 84.0 87.0 81.0 79.0 76.0   ... ... ... ... ... ...
Site Visits mil ... ... ... ... ... ... ... ... ... 146 216 244   ... ... ... ... ... ...
Marketing Expenses CHF mil ... ... ... ... ... ... ... 22.2 33.7 41.3 53.2 60.6   ... ... ... ... ... ...
Marketing Expenses (As % of Sales) % ... ... ... ... ... ... ... 2.53 ... ... ... ... ... ... ... ... ... ... ...

Get all company financials in excel:

Download Sample   $19.99

Zur Rose's Net Profit per Customer fell 45.2% yoy to USD -20.3 in 2021

By Helgi Analytics - October 8, 2022

Zur Rose made a net profit of CHF -226 mil with revenues of CHF 1,727 mil in 2021, down by 66.4% and up by 16.9%, respectively, compared to the previous year. This translates into a net margin of -13.1%. On the operating level, EBITDA reached CHF -143 mil, ...

Zur Rose's Capital Expenditures fell 6.10% yoy to CHF 63.5 mil in 2021

By Helgi Analytics - October 8, 2022

Zur Rose invested a total of CHF 63.5 mil in 2021, up 6.1% compared to the previous year. Historically, between 2009 - 2021, the company's investments stood at a high of CHF 63.5 mil in 2021 and a low of CHF 1.73 mil in 2009. As a per...

Zur Rose's ROCE fell 50.9% yoy to -26.9% in 2021

By Helgi Analytics - October 8, 2022

Zur Rose made a net profit of CHF -226 mil in 2021, down 66.4% compared to the previous year. Historically, between 2009 and 2021, the company's net profit reached a high of CHF 40.6 mil in 2009 and a low of CHF -226 mil in 2021. The result implies a retu...

Zur Rose's Share Price fell 16.8% yoy to CHF 236 in 2021

By Helgi Analytics - October 8, 2022

Zur Rose stock traded at CHF 236 per share at the end 2021 implying a market capitalization of USD 2,648 mil. Since the end of 2016, stock has appreciated by 211% implying an annual average growth of 25.5% In absolute terms, the value of the company rose...

Zur Rose's Net Margin fell 42.3% yoy to -13.1% in 2021

By Helgi Analytics - October 8, 2022

Zur Rose made a net profit of CHF -226 mil with revenues of CHF 1,727 mil in 2021, down by 66.4% and up by 16.9%, respectively, compared to the previous year. This translates into a net margin of -13.1%. Historically, between 2009 and 2021, the firm...

Zur Rose's Net Debt/EBITDA rose 40.7% yoy to -2.04 in 2021

By Helgi Analytics - October 8, 2022

Zur Rose's net debt stood at CHF 291 mil and accounted for 60.0% of equity at the end of 2021. The ratio is up 9.29 pp compared to the previous year. Historically, the firm’s net debt to equity reached a high of 60.0% in 2021 and a low of -32...

Zur Rose's P/FCF fell 19.4% yoy to -11.5 in 2021

By Helgi Analytics - October 8, 2022

Zur Rose stock traded at CHF 236 per share at the end 2021 translating into a market capitalization of USD 2,648 mil. Since the end of 2016, the stock has appreciated by 211% representing an annual average growth of 25.5%. At the end of 2021, the firm tr...

Zur Rose's net profit fell 64.3% yoy to CHF -17.6 mil in 4Q2019

By Helgi Analytics - August 3, 2020

Zur Rose made a net profit of CHF -17.6 mil with revenues of CHF 344 mil in 4Q2019, down by 64.3% and up by 13.7%, respectively, compared to the previous year. This translates into a net margin of -5.13%. On the operating level, EBITDA reached CHF -5.69 m...

Zur Rose's Total Cash From Operations fell 239% yoy to CHF -33.6 mil in 4Q2019

By Helgi Analytics - August 3, 2020

Zur Rose's operating cash flow stood at CHF -33.6 mil in 4Q2019, down 239% when compared to the previous year. Historically, between 1Q2009 - 4Q2019, the firm’s operating cash flow reached a high of CHF 5.23 mil in 3Q2012 and a low of CHF -33.6 mil ...

Zur Rose's Cash & Cash Equivalents remain unchanged yoy at CHF mil in 4Q2019

By Helgi Analytics - October 12, 2020

Zur Rose's total assets reached CHF 992 mil at the end of 4Q2019, up 36.5% compared to the previous year. Current assets amounted to CHF 428 mil, or 43.2% of total assets while cash stood at CHF 205 mil at the end of 4Q2019. ...

More News

The Swiss Zur Rose Group is Europe’s largest e-commerce pharmacy and one of the leading medical wholesalers in Switzerland. The Company also operates the leading marketplace in southern Europe for consumer health, beauty and personal care products commonly sold in pharmacies. The company is internationally present with strong brands, including Germany’s best-known pharmacy brand DocMorris. Zur Rose employs more than 1,800 people at sites in Switzerland, Germany, the Netherlands, Spain and France. The Company's activities are divided into two business segments: Zur Rose and DocMorris. The Zur Rose division includes wholesale business and provides drugs to medical doctors, health insurance companies, hospitals and healthcare companies, among others. The DocMorris division manages the mail-order business for drug retail. The Company operates in Switzerland, Germany and the Netherlands through a number of subsidiaries, such as Zur Rose Suisse AG, Zur Rose Pharma GmbH, BlueCare AG, DocMorris NV, Eurapon Pharmahandel GmbH and Vitalsana BV.

Zur Rose Logo

Finance

Zur Rose has been growing its sales by 13.1% a year on average in the last 5 years. EBITDA has grown by 305% during that time to total of CHF 182 mil in 2027, or 5.98% of sales. That’s compared to 3.04% average margin seen in last five years.

The company netted CHF 67.2 mil in 2027 implying ROE of 29.6% and ROCE of 6.43%. Again, the average figures were -3.92% and -1.68%, respectively when looking at the previous 5 years.

Zur Rose’s net debt amounted to CHF 575 mil at the end of 2027, or 221% of equity. When compared to EBITDA, net debt was 3.17x, up when compared to average of -0.589x seen in the last 5 years.

Valuation

Zur Rose stock traded at CHF 27.1 per share at the end of 2027 resulting in a market capitalization of USD 298 mil. Over the previous five years, stock price grew by 0% or 0% a year on average. The closing price put stock at a 12-month trailing EV/EBITDA of 4.67x and price to earnings (PE) of 4.05x as of 2027.