Interim report January-March 2013: Organic growth and increasing profits in the first quarter
- Organic growth of 6 percent in comparable units
- Profits continue to develop well
- Hard work on cutting costs in the Bariatrics diagnostic area produces results
- Sale of the clinics in Prague and Bergen completed
FIRST QUARTER 2013
- Revenues increased by 1 percent to SEK 195.0 million (192.4)
- EBITDA amounted to SEK 26.1 million (12.1), adjusted for a capital gain SEK 15.4 million
- The operating result (EBIT) amounted to SEK 19.0 million (5.0)
- The result before tax (EBT) amounted to SEK 16.9 million (2.8)
- The result after tax (EAT) amounted to SEK 14.2 million (-1.0)
- The result per share amounted to SEK 0.18 (-0.05)
THE CEO’S COMMENTS
The positive trend continued during the first quarter of the year, with both rising sales and profits. Our increased focus on patient inflows and efficiency measures of processes contributed to the results. It is pleasing that organic growth increased by all of 6 percent. This was in spite of the fact that Easter came early this year, which meant that there were fewer production days during the quarter compared with last year.
Regarding efficiency measures, we have worked hard on cutting costs at our obesity clinics as well as in Denmark. The operating result has also been improved by the sales of clinics that have been carried out and by reduced central costs.
Regarding the growth, it is particularly good to see that patients who are part of the free choice scheme choose us to an increasing extent. We continue the trend of being less dependent on revenues from procurement processes. We are on the way here to achieving a better balance between those patients who come to us as a result of procurement processes and those that come to us of their own free choice and through insurance companies. Our high-class health care will always be the underlying reason why Global Health Partner is an attractive choice for patients. This is something I see and experience every time I visit our clinics. I feel proud of the commitment and the focus on quality that we create for our patients.
Our great focus on the quality of the health care that we give our patients means that we can feel secure while the debate on profits in health care is ongoing. Global Health Partner meets the demands of transparency and quality. Our business is, to deliver specialist health care on a longterm basis and so far every penny of the profits we have made has been reinvested in the business.
I am convinced that Global Health Partner will also meet political demands in the future, continue to deliver world-class health care and in the future give shareholders a good return on their investments.
26 April 2013
Global Health Partner AB (publ)
Marianne Dicander Alexandersson
Queries should be addressed to:
Marianne Dicander Alexandersson, CEO, phone: +46-31 712 53 09
Tobias Linebäck, CFO and Head of Investor Relations, phone: +46-708 55 37 19
Global Health Partner is an internationally active healthcare provider that operates specialist clinics in a select number of diagnostic 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 diagnostic area 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 26 April 2013 at 8.00 a.m. CET.
This report has not been the subject of review by the company’s auditor.
This is a translation of the Swedish version of the Interim report. When in doubt, the Swedish wording prevails.