Medicover: Interim Report July-September 2019

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Medicover

06 Nov, 2019, 07:10 GMT

STOCKHOLM, Nov. 6, 2019 /PRNewswire/ -- Third Quarter

Revenue increased by 26.7% to €212.1m (€167.4m). Organic revenue grew by 17.4%.

Operating profit (EBIT) increased by 66.7% to €14.3m (€8.6m), representing an operating margin of 6.7% (5.1%).

Net profit amounted to €6.3m (€6.7m), which represents a net profit margin of 3.0% (4.0%).

EBITDA increased by 41.5% to €32.5m (€23.0m), corresponding to an EBITDA margin of 15.3% (13.7%).

EBITDAaL increased by 50.1% to €22.3m (€14.9m), corresponding to an EBITDAaL margin of 10.5% (8.9%).

Net cash flow from operating activities was €22.6m (€29.4m).

Basic/diluted earnings per share were €0.043 (€0.045).

Nine Months

Revenue increased by 25.3% to €614.7m (€490.4m). Organic revenue grew by 15.1%.

Operating profit (EBIT) increased by 41.9% to €35.7m (€25.1m), representing an operating margin of 5.8% (5.1%).

Net profit amounted to €18.1m (€20.7m), which represents a net profit margin of 2.9% (4.2%) affected by lower other income/costs.

EBITDA increased by 31.4% to €87.3m (€66.4m), corresponding to an EBITDA margin of 14.2% (13.5%), impacted by €2.0m (€0.9m) merger and acquisition related costs expensed.

EBITDAaL increased by 36.7% to €58.3m (€42.6m), corresponding to an EBITDAaL margin of 9.5% (8.7%).

Net cash flow from operating activities amounted to €62.4m (€57.8m).

Basic/diluted earnings per share were €0.120 (€0.145).

REVENUE AND EARNINGS

€ millions (€m)	Q3 2019	Q3 2018	Growth	9M 2019	9M 2018	Growth	FY 2018
Revenue	212.1	167.4	27%	614.7	490.4	25%	671.6
Operating profit	14.3	8.6	67%	35.7	25.1	42%	33.7
Operating profit margin, %	6.7%	5.1%		5.8%	5.1%		5.0%
Net profit	6.3	6.7	-4%	18.1	20.7	-13%	24.2
Net profit margin, %	3.0%	4.0%		2.9%	4.2%		3.6%
Basic/diluted earnings per share, €	0.043	0.045	-4%	0.120	0.145	-17%	0.167

EBITDA	32.5	23.0	41%	87.3	66.4	31%	90.7
EBITDA margin, %	15.3%	13.7%		14.2%	13.5%		13.5%
EBITDAaL	22.3	14.9	50%	58.3	42.6	37%	58.5
EBITDAaL margin, %	10.5%	8.9%		9.5%	8.7%		8.7%
EBITA	15.7	9.4	67%	39.8	27.0	47%	37.0
EBITA margin, %	7.4%	5.6%		6.5%	5.5%		5.5%

For definition and reconciliation of alternative performance measures, refer to note 11. As from Q3 2019 margins (including margins of comparative figures) and growth rates have been calculated based on EUR whole figures instead of figures rounded in millions.

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 (CET) on 6 November 2019. This interim report and other information about Medicover is available at medicover.com.

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