(Alliance News) - Farmacosmo Spa has released figures for total revenues for 2023, which came in at EUR71.2 million, up 8.0 percent from 2022.

The group explains that it continues to focus its efforts on profitability and is driven by the retail channel, which is increasingly predominant over B2B: as of December 31, B2B revenues, down 20% annually, had a weight on group revenues of 30%.

In addition, Farmacosmo.it's Average Order Value, among the highest in the market, consolidated at a value above EUR100 compared to EUR95 Del 2022.

Over the period, the percentage of revenue generated by those who purchased more than once increased from 76% in 2022 to over 80% in 2023; and also that of recurring orders, rising from 70% in 2022 to 74% in 2023.

The average number of recurring orders per customer increased from 4.4 in 2022 to 4.8 in 2023.

Farmacosmo.it's recurring customer records an average order value of over EUR109.

Fabio de Concilio, president and CEO of Farmacosmo, commented, "Farmacosmo during 2023 focused all efforts to complete the integration of M&A operations. Today we are a single business, marketing and technology entity. All subsidiaries are connected to our proprietary software. The focus in 2023 has been profitability and margin on sales. In particular, during the second half of the year, we coupled the sell & buy business model with an increase in direct purchases from manufacturing companies."

"The retail channel continues to be the driving force behind the group's growth, thanks in particular to the integration and streamlining of all purchased portals. Farmacosmo in 18 months has gone from being a simple e-commerce, with two legs of business, to a totally different reality; new specialized verticals restructured, plus entry into the world of digital health services and PET. The average shopping cart of pharmacosmo.it, growing every year, is now stably above EUR100 and the percentage of revenue generated from recurring customers, stably above 80 percent - in 2022 it was 74 percent - confirm the high level of loyalty."

Farmacosmo on Friday closed down 1.0 percent at EUR1.01 per share.

By Claudia Cavaliere, Alliance News reporter

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