Medicover: Interim report April-June 2019
- Revenue increased by 25.9% to €202.9m (€161.1m). Organic revenue grew by 14.2%.
- Operating profit amounted to €10.1m (€7.5m), representing an operating margin of 5.0% (4.7%).
- Net profit amounted to €4.9m (€5.5m), which represents a net profit margin of 2.4% (3.4%).
- EBITDA increased by 28.8% to €27.3m (€21.2m), corresponding to an EBITDA margin of 13.5% (13.2%), impacted by €1.6m (€0.2m) merger and acquisition related costs expensed.
- EBITDAaL increased by 32.6% to €17.5m (€13.2m), corresponding to an EBITDAaL margin of 8.6% (8.2%).
- Cash flow from operating activities increased to €15.7m (€14.7m).
- Basic/diluted earnings per share were €0.031 (€0.039).
- Revenue increased by 24.6% to €402.6m (€323.0m). Organic revenue grew by 14.6%.
- Operating profit amounted to €21.4m (€16.5m), representing an operating margin of 5.3% (5.1%).
- Net profit amounted to €11.8m (€14.0m), which represents a net profit margin of 2.9% (4.3%).
- EBITDA increased by 26.3% to €54.8m (€43.4m), corresponding to an EBITDA margin of 13.6% (13.4%), impacted by €1.8m (€0.5m) merger and acquisition related costs expensed.
- EBITDAaL increased by 30.0% to €36.0m (€27.7m), corresponding to an EBITDAaL margin of 8.9% (8.6%).
- Cash flow from operating activities amounted to €39.8m (€28.4m).
- Basic/diluted earnings per share were €0.077 (€0.099).
REVENUE AND EARNINGS
€ millions (€m) Q2 2019 Q2 2018 Growth 6M 2019 6M 2018 Growth FY 2018
Revenue 202.9 161.1 26% 402.6 323.0 25% 671.6
Operating profit 10.1 7.5 35% 21.4 16.5 30% 33.7
Operating profit 5.0% 4.7% 5.3% 5.1% 5.0%
margin, %
Net profit 4.9 5.5 -11% 11.8 14.0 -16% 24.2
Net profit 2.4% 3.4% 2.9% 4.3% 3.6%
margin, %
Basic/diluted 0.031 0.039 -21% 0.077 0.099 -22% 0.167
earnings per
share, €
EBITDA 27.3 21.2 29% 54.8 43.4 26% 90.7
EBITDA margin, % 13.5% 13.2% 13.6% 13.4% 13.5%
EBITDAaL 17.5 13.2 33% 36.0 27.7 30% 58.5
EBITDAaL margin, 8.6% 8.2% 8.9% 8.6% 8.7%
%
EBITA 11.6 8.0 45% 24.1 17.6 37% 37.0
EBITA margin, % 5.7% 5.0% 6.0% 5.4% 5.5%
For definition and reconciliation of alternative performance measures, refer to note 10.
All comparative figures have been restated for the impact of the adoption of IFRS 16, Leases compared to the published consolidated financial statements as at and for the year ended 2018. Refer to the restatement release of 17 April 2019.
This is information that Medicover AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication through the agency of the contact person set out below at 7.45 (CEST) on 26 July 2019. This interim report and other information about Medicover is available at medicover.com (http://www.medicover.com).
Contact information
For further information, please contact:
Hanna Bjellquist, Head of Investor Relations
Phone: +46 70 303 32 72
E-mail: hanna.bjellquist@medicover.com
Medicover is a leading international healthcare and diagnostic services company and was founded in 1995. Medicover operates a large number of ambulatory clinics, hospitals, specialty-care facilities and laboratories and the largest markets are Poland and Germany. In 2018, Medicover had revenue around €672 million and 20,970 employees. For more information, go to www.medicover.com