Medicover: Year-end Report January-December 2019

STOCKHOLM, Feb. 14, 2020 /PRNewswire/ -- Fourth Quarter

• Revenue increased by 26.8% to €229.7m (€181.2m). Organic revenue grew by 15.0%.
• Operating profit (EBIT) increased by 26.6% to €10.8m (€8.6m), representing an operating margin of 4.7% (4.7%).
• Net profit amounted to €6.6m (€3.5m), which represents a net profit margin of 2.9% (1.9%).
• EBITDA increased by 37.5% to €33.4m (€24.3m), corresponding to an EBITDA margin of 14.5% (13.4%).
• EBITDAaL increased by 40.5% to €22.3m (€15.9m), corresponding to an EBITDAaL margin of 9.7% (8.8%).
• Net cash flow from operating activities was €25.0m (€16.6m).
• Medicover Hospitals India (former MaxCure) consolidated as of 1 December.
• Basic/diluted earnings per share were €0.048 (€0.022).

Full Year

• Revenue increased by 25.7% to €844.4m (€671.6m). Organic revenue grew by 14.8%.
• Operating profit (EBIT) increased by 38.0% to €46.5m (€33.7m), representing an operating margin of 5.5% (5.0%).
• Net profit amounted to €24.7m (€24.2m), which represents a net profit margin of 2.9% (3.6%) affected by lower other income/costs.
• EBITDA increased by 33.0% to €120.7m (€90.7m), corresponding to an EBITDA margin of 14.3% (13.5%), impacted by €2.4m (€1.8m) merger and acquisition related costs expensed.
• EBITDAaL increased by 37.7% to €80.6m (€58.5m), corresponding to an EBITDAaL margin of 9.5% (8.7%).
• Net cash flow from operating activities amounted to €87.3m (€74.4m).
• Basic/diluted earnings per share were €0.168 (€0.167).
• The board of directors proposes a dividend for 2019 of €0.05 per share.

REVENUE AND EARNINGS

€ millions (€m)	Q4 2019	Q4 2018	Growth	FY 2019	FY 2018	Growth
Revenue	229.7	181.2	27%	844.4	671.6	26%
Operating profit (EBIT)	10.8	8.6	27%	46.5	33.7	38%
Operating profit margin, %	4.7%	4.7%		5.5%	5.0%
Net profit	6.6	3.5	91%	24.7	24.2	2%
Net profit margin, %	2.9%	1.9%		2.9%	3.6%
Basic/diluted earnings per share, €	0.048	0.022	118%	0.168	0.167	1%
EBITDA	33.4	24.3	37%	120.7	90.7	33%
EBITDA margin, %	14.5%	13.4%		14.3%	13.5%
EBITDAaL	22.3	15.9	40%	80.6	58.5	38%
EBITDAaL margin, %	9.7%	8.8%		9.5%	8.7%
EBITA	13.9	10.0	39%	53.7	37.0	45%
EBITA margin, %	6.0%	5.5%		6.4%	5.5%

 

For definition and reconciliation of alternative performance measures, refer to note 10. 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 14 February 2020. This interim report and other information about Medicover is available at 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

For further information, please contact:
Hanna Bjellquist, Head of Investor Relations         
Phone: [phone]
[e-mail]

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Year-end report January-December 2019

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