Apotea accelerates growth and breaks a sales barrier
The Swedish online pharmacy accelerated its growth in 2023. The company has seen declining growth rates for two years since the pandemic peak in 2020. In 2023, the growth went from 7% in 2022 to 12% last year.
The continued growth after the pandemic and in high inflationary times is quite an achievement from Apotea.
This increased growth was accelerated by the solid later part of the year. In Q4, the company saw revenues climb by 20%. The growth took Apotea’s revenue for the first time beyond the five billion SEK mark. The year ended with 5 500 million SEK in revenues.
It will be interesting to see if the accelerated growth helps Apotea increase its market share in Sweden's online pharmacy market. Apotea has seen its market share decline as the big multichannel pharmacy chains have invested in their online offerings during and after the pandemic. In 2022, Apotea had 46,7% market share.
To continue to grow rapidly, the company is investing in logistics. This improves Apotea’s capabilities to handle higher volumes of orders.
“At the beginning of 2023, we invested a lot in expanding our logistics, automating and streamlining our handling, something that paid off in the autumn when we could finally go full speed. During the spring, we will begin the construction of our new logistics centre in Varberg, which is a prerequisite for the future and our continued growth.”
