Highlights January – September 2006

• Revenue for the nine months amounted to € 54.4 (€ 42.4 million), representing 28 percent growth versus last year. Excluding the acquisition effect, the revenue growth was 23 percent.

• Revenue for the third quarter amounted to € 18.4 million (€ 15.0 million), representing 22 percent revenue growth versus the corresponding period last year. Excluding the acquisition effect, the revenue growth was 20 percent.

• Constant currency growth versus last year for the 9 months amounted to 25 percent (excluding acquisition effects 20 percent) and for the third quarter to 21 percent (excluding acquisition effects 19 percent).

• Member growth for the 9 months amounted to 40,200, which was 19 percent above last year’s 33,900 new members for the same period. During the third quarter we increased our member base by 12,800 new members versus 8,500 for the same period last year. Our total member base by end of the third quarter was 230,900, representing member growth of 33 percent versus last year.

• The operating profit (EBIT) for the first nine months reached € 1.9 million (€ 1.5 million) and for the third quarter € 0.8 million (€ 0.6 million).

• The operating profit before depreciation and amortization (EBITDA) for the nine months amounted to €5.3 million (€ 4.1 million) or 9.8 percent of revenue (9.6 percent of revenue) and for the third quarter to € 2.0 million (€ 1.6 million) or 10.8 percent of revenue (10.7 percent of revenue).

• Net cash inflow from operating activities after tax payments was € 3.2 million (inflow € 2.3 million) for the nine months and € 2.2 million (inflow € 0.6 million) for the third quarter.

• The profit after tax for the nine months amounted to € 2.2 million (€ 0.5 million) equivalent to a profit per share of € 0.153 (€ 0.040) and the diluted profit per share was € 0.151 (€ 0.040). The third quarter profit after tax was € 1.1 million (€ 0.4 million) equivalent to a profit per share of € 0.080 (€ 0.031) and the diluted profit per share was € 0.078 (€ 0.031).

• During the Extraordinary General Meeting of the shareholders, held on November 9th 2006, the shareholders resolved to de-list Medicover from the Stockholm Stock Exchange.





For further information please contact:

Fredrik Rågmark – Chief Executive Officer - Medicover 00 32 475 75 19 64
Joe Ryan –Chief Financial Officer - Medicover 00 32 477 56 03 82

About Us

Medicover is a leading international healthcare and diagnostic services provider in Poland, Germany, Romania, Ukraine and certain other markets, primarily in Central and Eastern Europe (“CEE”). Additionally, Medicover is in the process of entering the fast-growing Indian healthcare market in order to expand its geographical footprint and further leverage its emerging markets capabilities. Medicover offers a broad range of healthcare services and a significant hub-and-spoke diagnostic laboratory network, supported by extensively developed proprietary software and information systems infrastructure. Medicover operates through two divisions: Healthcare Services and Diagnostic Services.

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