INTERIM REPORT APRIL–JUNE 2017

Second quarter

  • Revenue increased by 14.5% to €141.6m (€123.7m). In constant currency, organic revenue grew by 12.2%.
  • Operating profit more than tripled to €5.7m (€1.6m), representing an operating margin of 4.0% (1.3%).
  • Net profit amounted to €2.3m (€-1.1m), which represents a net profit margin of 1.6% (-0.9%).
  • Cash flow from operating activities amounted to €8.9m (€3.2m).
  • Basic/diluted earnings per share (EPS) was €0.016 (€-0.015).
  • EBITDA increased by 17.3% to €12.2m (€10.4m), corresponding to an EBITDA margin of 8.6% (8.4%). Excluding IPO costs expensed, EBITDA increased by 30.8% to €13.6m a margin of 9.6%.
  • Number of members increased by 17.1% reaching 964 K members at 30 June 2017 (823 K). Number of lab tests increased by 10.7% to 31m (28m) for the quarter.
  • The Company’s Class B shares were listed on the Nasdaq Stockholm Exchange on May 23, 2017.

First half

  • Revenue increased by 17.8% to €283.5m (€240.7m). In constant currency, organic revenue grew by 15.4%.
  • Net profit increased more than four-fold to €6.7m (€1.6m), which represents a net profit margin of 2.4% (0.7%).
  • EBITDA increased by 23.9% to €25.4m (€20.5m), corresponding to an EBITDA margin of 9.0% (8.5%). Excluding IPO costs expensed EBITDA increased by 32.7% to €27.2m a margin of 9.6%.

REVENUE AND EARNINGS

€ millions (€m) Q2 2017 Q2 2016 Growth 6M 2017 6M 2016 Growth FY 2016
Revenue 141.6 123.7 14.5% 283.5 240.7 17.8% 497.3
Operating profit 5.7 1.6 256.3% 12.5 7.0 78.6% 17.6
Operating profit margin, % 4.0% 1.3% 4.4% 2.9% 3.5%
Net profit 2.3 (1.1) n/m  6.7 1.6 318.8% 6.5
Net profit margin, % 1.6% (0.9)% 2.4% 0.7% 1.3%
Earnings per share, € 0.016 (0.015) n/m 0.054 0.007 671.4% 0.046
Diluted earnings per share, € 0.016 (0.015) n/m 0.054 0.007 671.4% 0.045
EBITDA1) 12.2 10.4 17.3% 25.4 20.5 23.9% 44.3
EBITDA margin, %1) 8.6% 8.4% 9.0% 8.5% 8.9%

1) For Alternative Performance Measure definitions and reconciliations, refer to note 10

 

 

This information is information that Medicover AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at 8.00 (CET) on 28 July 2017. This interim report and other information about Medicover, is available at medicover.com.

Financial Calendar

Interim report January–September 2017         27 October 2017

Contact information

 For further information, please contact: Paula Treutiger, Dir Corporate Communications & Investor Relations

 Phone: +46 73 366 65 99 E-mail : paula.treutiger@medicover.com 

Address

 Org nr: 559073-9487 Medicover AB (publ)

 P.O. Box 55720 SE-114 83 Stockholm

 Visiting address: Riddargatan 12A Stockholm, Sweden

 Phone: +46 8-622 36 00

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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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