Medicover : Interim report July-September 2020

News provided by

Medicover

06 Nov, 2020, 07:14 GMT

STOCKHOLM, Nov. 6, 2020 /PRNewswire/ --

Third quarter

Revenue amounted to €262.5m (€212.1m), an increase of 23.8% with an organic growth of 12.3%.
Operating profit (EBIT) was €27.3m (€14.3m), representing an operating margin of 10.4% (6.7%).
Net profit amounted to €19.5m (€6.3m), which represents a net profit margin of 7.5% (3.0%).
EBITDA was €50.1m (€32.5m), an increase of 54.4%. EBITDA margin was 19.1% (15.3%).
EBITDAaL amounted to €38.1m (€22.3m), corresponding to an EBITDAaL margin of 14.5% (10.5%).
Net cash flow from operating activities was €41.7m (€22.6m).
Basic/diluted earnings per share were €0.108 (€0.043).
Covid-19 had a positive impact on operating performance.

Nine months

Revenue amounted to €700.1m (€614.7m), an increase of 13.9% with an organic growth of 4.7%.
Operating profit (EBIT) was €31.4m (€35.7m), a decrease by 11.9%, representing an operating margin of 4.5% (5.8%).
Net profit amounted to €8.5m (€18.1m), which represents a net profit margin of 1.2% (2.9%).
EBITDA was €104.4m (€87.3m), an increase of 19.6%. EBITDA margin was 14.9% (14.2%).
EBITDAaL amounted to €67.3m (€58.3m), an increase by 15.5% corresponding to an EBITDAaL margin of 9.6% (9.5%).
Net cash flow from operating activities was €116.5m (€62.4m).
Basic/diluted earnings per share were €0.054 (€0.120).
Covid-19 had a cumulative negative impact on operating performance.
Directed share issue of 15 million shares completed in June 2020, net proceeds of €141.9m.

REVENUE AND EARNINGS

€ millions (€m)	Q3 2020	Q3 2019	Variance	9M 2020	9M 2019	Variance	FY 2019
Revenue	262.5	212.1	24%	700.1	614.7	14%	844.4
Operating profit (EBIT)	27.3	14.3	91%	31.4	35.7	-12%	46.5
Operating profit margin	10.4%	6.7%		4.5%	5.8%		5.5%
Net profit	19.5	6.3	207%	8.5	18.1	-53%	24.7
Net profit margin	7.5%	3.0%		1.2%	2.9%		2.9%
Basic/diluted earnings per share, €	0.108	0.043	151%	0.054	0.120	-55%	0.168

EBITDA	50.1	32.5	54%	104.4	87.3	20%	120.7
EBITDA margin	19.1%	15.3%		14.9%	14.2%		14.3%
EBITDAaL	38.1	22.3	71%	67.3	58.3	16%	80.6
EBITDAaL margin	14.5%	10.5%		9.6%	9.5%		9.5%
EBITA	30.1	15.7	93%	44.2	39.8	11%	53.7
EBITA margin	11.5%	7.4%		6.3%	6.5%		6.4%

Definition and reconciliation of alternative performance measures are available at www.medicover.com/financial-information.

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 2020. 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: +46-70-303-3272

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,laboratories and blood-drawing points and the largest markets are Poland and Germany. In 2019, Medicover had revenue around €844 million and 28,800 employees. For more information, go to