ORPEA: Solid Growth of 8.5% in Q3 2018 Revenue to €865M
- STRONG ORGANIC GROWTH OF +5.0%
POSITION IN PREMIUM
2018 GUIDANCE REITERATED
- REVENUE OF OVER €3,400 MILLION
- EBITDA MARGIN HIGHER THAN IN 2017
PUTEAUX,
The
In €m | Quarterly | 9 months | ||||||||||||||
Q3 2018 | Q3 2017 | Change | 2018 | 2017 | Change | |||||||||||
France Benelux | 513.6 | 483.0 | +6.3% | 1,523.8 | 1,442.6 | +5.6% | ||||||||||
|
220.6 | 200.4 | +10.1% | 650.4 | 583.3 | +11.5% | ||||||||||
|
85.6 | 77.4 | +10.7% | 248.6 | 190.3 | +30.6% | ||||||||||
|
44.6 | 35.8 | +24.7% | 120.5 | 105.3 | +14.4% | ||||||||||
Rest of the World | 0.6 | 0.5 | +16.2% | 1.6 | 1.2 | +34.3% | ||||||||||
Total revenue | 865.0 | 797.1 | +8.5% | 2,544.9 | 2,322.8 | +9.6% | ||||||||||
Including organic growth1 |
+5.0% | +5.1% |
Consolidation dates: Anavita in the
____________________________
1 Organic growth reflects the following factors: 1. The year-on-year change in revenues of existing facilities as a result of changes in their occupancy rates and daily rates; 2. The year-on-year change in revenue of redeveloped facilities or those where capacity has been increased during the year or a year earlier; 3. Revenue generated in the current period by facilities created during the year or a year earlier, and the change in revenue of recently acquired facilities by comparison with the previous equivalent period.
Positions in
As part of its selective expansion strategy,
That segment is still under-developed in
The Axion group was founded in 2001 by Mr Tavridis, its current CEO. is regarded as a renowned expert in the German market given his over 20 years’ professional experience in the nursing homes sector and the successful premium model he built up. Axion currently operates 7 facilities with 985 beds, including 2 high-end nursing homes (275 beds) in
In 2017, the facilities generated €30 million in revenue with profitability levels that will be accretive to the margins of the ORPEA’s
At the same time,
The transaction is still subject to clearance from the German competition authorities. Axion’s facilities will be consolidated from 1st
This deal fits perfectly with ORPEA’s strategy of moving the German network upscale, which aims to create significantly more value over the medium to long term, primarily by building new facilities that stand out from those run by other operators.
“ORPEA’s growth momentum remained particularly strong in the third quarter, with revenue up 8.5% to €865 million. 60% of this increase came from organic growth (+5.0%) powered by the strategy of value creation the Group has pursued for the past five years at both the existing network and recently opened facilities. Acquisitions contributed the remaining 40% during the quarter, notably through Woonzorgnet and Dagelijks Leven in
Over the first nine months of the year, the revenue rose by 9.6% to €2,545 million. Organic growth of 5.1% remained strong across all our geographical regions thanks to the quality and positioning of the existing facilities, the ramp-up in facilities opened over the past two years and the addition of more than 2,100 new beds in 7 different countries since the beginning of 2018.
Furthermore,
The recently announced acquisitions, the pipeline of 13,000 beds under construction, additional new projects and geographical diversification are all growth drivers that make the Group confident for the coming years.
Next press release: full-year 2018 revenue
About
Founded in 1989,
- 32,582 beds in
France (2,223 beds under construction or redevelopment) at 346 facilities - 54,175 beds outside
France (Austria ,Belgium ,Brazil ,China ,Czech Republic ,Germany ,Italy ,Netherlands ,Poland ,Portugal ,Spain andSwitzerland ) at 508 facilities (11,376 beds under construction or redevelopment)
View source version on businesswire.com: https://www.businesswire.com/news/home/20181105005720/en/
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