ORPEA: Strong Growth of 9.4% in Q1 2019 Revenue to €910 Million
- FIRM ORGANIC GROWTH OF 4.7%
DEVELOPMENT OF POST-ACUTE AND REHABILITATION HOSPITALS IN
2019 REVENUE TARGET OF OVER €3,700 MILLION REITERATED
PUTEAUX,
The
Solid Q1 2019 revenue growth of 9.4%
(€ m) | Q1 2019 | Q1 2018 | % Chg. | |||||
France Benelux | 540.6 | 499.3 | +8.3% | |||||
|
234.1 | 214.5 | +9.2% | |||||
|
87.0 | 80.1 | +8.6% | |||||
|
47.4 | 37.8 | +25.5% | |||||
Other countries | 0.8 | 0.4 | n/a | |||||
Total revenue | 909.9 | 832.1 | +9.4% | |||||
Organic growth1 |
+4.7% |
Dates of consolidation: the disposals announced in
Clusters’ composition:
Q1 2019 revenue came to €909.9 million, up 9.4%. Half of the growth was organic and half came from acquisitions notably in
The 4.7% organic growth was driven by our key success factors:
- consistently high occupancy rates across the network
- the ramp-up in facilities opened over the past two years, mostly located in high purchasing power cities
- the addition of 500 beds over the quarter, predominantly in
Eastern Europe andCentral Europe .
Partnership with
In 2018,
In addition,
Under this agreement, an initial project has been agreed with the Russian government and
The Russian government is willing to set up a leading contender in this still developing industry. Its goal is to jointly establish a network of post-acute and rehabilitation hospitals across the country to help Russian patients recover and return to work and/or living at home.
“Our growth accelerated during the first quarter of 2019, lifting our revenue 9.4% to €910 million. This strong performance is supported by the two core pillars of our strategy: a strong organic growth of 4.7% and the contribution of selective acquisitions.
Furthermore, in line with our strategy of international expansion, the partnership with the sovereign fund RDIF and
Following a dynamic first-quarter, we are confidently reiterating our guidance of over €3,700 million in revenue (+8.2%) and solid profitability.”
Next press release: H1 2019 revenue
About
Founded in 1989,
- France-Benelux: 484 facilities / 42,625 beds (of which 4,514 under construction)
-
Central Europe : 238 facilities / 25,419 beds (of which 4,389 under construction) -
Eastern Europe : 125 facilities / 12,917 beds (of which 2,817 under construction) - Iberian peninsula / Latam: 102 facilities / 15,476 beds (of which 5,668 under construction)
- Other countries: 1 facility / 140 beds
1 Organic growth reflects the following factors: 1. The year-on-year change in the revenue of existing facilities as a result of changes in their occupancy rates and per diem rate 2. The year-on-year change in the revenue of redeveloped facilities or those where capacity has been increased in the current or year-earlier period 3. Revenue generated in the current period by facilities created in the current or year-earlier period, and the change in revenue at recently acquired facilities by comparison with the previous equivalent period.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190506005558/en/
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Priscille David Reneaume
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