Interim report January-March 2011: Growth amounted to 27 percent
FIRST QUARTER 2011
- Revenues increased by 27 percent to SEK 178.9 million (140.6)
- The operating result amounted to SEK 10.4 million (4.7)
- The result before tax amounted to SEK 9.8 million (5.6)
- The result after tax amounted to SEK 6.0 million (2.3)
- The result per share amounted to SEK 0.04 (-0.01)
- Organic growth of 17 percent
THE CEO’S COMMENTS
The positive development of volumes and results has continued for our clinics during the first quarter. We have noted that demand has continued to increase in our orthopaedic and spine clinics as well as for our arrhythmia clinic in Stockholm. The number of orders received for the coming quarter is also favourable. At the same time there is a certain shift in the treatment mix of our Stockholm clinics as a result of the fact that we give priority to patients from the local County Council and this means a lower average price per treatment. All Swedish spine and orthopaedic clinics could expand further.
The dental clinics have been negatively affected by a somewhat lower inflow of referrals during the last quarter of 2010, but they have increased sharply during the first months of the year, which is expected to give higher revenues later in the year as these patients are treated three to six months after the referral has been received. The market situation is still uncertain for specialist dentistry during the coming future.
For our Swedish bariatric clinics the market situation is still strong, primarily due to rapidly increasing demand from the County Councils, who are actively trying to shorten waiting times until operations. However, this affects the demand from privately funded patients negatively, which leads to lower prices per treatment.
A few of the newly started Bartiatric clinics display negative results, partly as a consequence of the fact that they have just been started but also due to changed market conditions in the two countries. As a whole Global Health Partner is developing positively, the level of activity is high and the development of demand in the majority of our existing clinics continues to be strong.
28 April 2011
Global Health Partner AB (publ)
Queries should be addressed to:
Per Båtelson, CEO, phone +46-705 95 57 00
Tobias Linebäck, CFO, phone +46-708 55 37 19
Anna Ahlberg, IR, phone +46-708 55 38 35
Global Health Partner is an internationally active healthcare provider that operates specialist clinics in a select number of treatment areas through the application of a business model that is unique in the healthcare industry, where leading doctors become partners and shareholders. Multiple clinics with high patient volumes within the same area of treatment produce increased efficiency and higher quality, which is the cornerstone of Global Health Partner's business philosophy – ”Quality through Specialisation”. Global Health Partner’s shares are traded on the Small Cap list at NASDAQ OMX Stockholm under the abbreviation “GHP.”
Global Health Partner AB (publ) | www.globalhealthpartner.com
Corp. ID No. 556757-1103 | Östra Hamngatan 26-28 | SE-411 09 Gothenburg | Sweden
Tel 46-31 712 53 00 | Fax 46-31 313 13 21
Global Health Partner AB is required to publish the information herein according to the Swedish Securities Market Act. This information was published on 28 April 2011 at 8.30 a.m. CET.
This is a translation of the Swedish version of the interim report. When in doubt, the Swedish wording prevails.
This report has not been the subject of review by the company’s auditor.