Korian: Revenue up 5.5% in the First Quarter of 2018
- Acceleration of growth in
France (+3.0%) - Continued dynamic growth internationally (+8.2%)
- Portfolio expanded by about 650 beds during the period
- 2018 revenue and operating margin objectives confirmed
REPORTED REVENUE 1
In € million | 1st quarter | Reported | Organic | ||||||
2017 | 2018 | change |
change(2) |
||||||
|
389 | 400 | 3.0% | 2.5% | |||||
|
as % of revenue |
50.9% | 49.7% | ||||||
International | 375 | 406 | 8.2% | 2.9% | |||||
|
as % of revenue |
49.1% | 50.3% | ||||||
|
217 | 224 | 3.1% | 3.3% | |||||
|
74 | 81 | 9.1% | 0.4% | |||||
|
84 | 101 | 20.4% | 4.1% | |||||
Group total | 764 | 806 | 5.5% | 2.7% |
Consolidated revenue up 5.5% in the first quarter of 2018
Consolidated revenue totalled €806 million in the first quarter of 2018, up 5.5% compared to the same period in 2017.
This positive momentum is driven by accelerating growth in
Organic growth totalled 2.7%. The scope impact is due primarily to the acquisitions in 2017 in
In the first quarter, the portfolio operated by
Growth accelerated in
Growth in
The Seniors division (long-term care nursing homes) continued to benefit from healthy average daily rates, which have notably profited from the strategy to enlarge the range of services offered to residents, and from a favourable network effect.
The Healthcare division (comprising primarily post-acute and rehabilitation care clinics) posted an increased growth momentum, driven by the projects delivered in 2017. These projects have made it possible to bring facilities closer to the main referring hospitals, to increase the level of specialisation and to develop additional capacity in single rooms and day hospital. The number of ambulatory care facilities will pick up significantly as from the second quarter with the opening of a total of 11 new day hospital planned over the year.
Continued dynamic growth internationally (+8.2%)
International revenue grew by 8.2%, to €406 million. Organic growth stood at 2.9%.
Revenue in
In
Conclusion and outlook
The progression of revenue in the first quarter is in line with the Group’s roadmap.
The costs associated with relaunching growth in
The Group has substantial assets to strengthen its leadership position in the European market for long-term care and support services for seniors, and is confident that it will achieve the objectives of its
Next event:
2nd quarter 2018 revenue
ABOUT
For more information, please visit the website: www.korian.com
Euronext Ticker: KORI - ISIN: FR0010386334 – Reuters: KORI.PA – Bloomberg: KORI.FP
(1) Revenue and other income
(2) Organic growth in revenue includes: a) year-on-year change in revenue (year “N” vs. year “N-1”) of existing facilities; b) revenue generated in year “N” by facilities created in year “N” or year “N-1”; c) the change in revenue (year “N” vs. year “N-1”) of facilities that were restructured or expanded in year “N” or year “N-1”; and d) the change in revenue, in year “N” compared to the equivalent period in year “N-1”, of facilities recently acquired.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180425006071/en/
INVESTOR RELATIONS
Nadine Coulm
VP Investor Relations & Financing
Tel.: +33 (0)1 55 37 53 55
[email protected]
or
PRESS CONTACT
Group Chief Communication Officer
Tel.: +33 (0)6 21 80 35 63
[email protected]
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