Interim Report July–September 2017

Third Quarter
  • Revenue increased by 16.0% to €144.0m (€124.1m). Organic revenue grew by 13.2%.
  • Operating profit amounted to €8.5m (€6.7m), representing an operating margin of 5.9% (5.4%).
  • Net profit amounted to €4.3m (€3.2m), which represents a net profit margin of 3.0% (2.6%).
  • Cash flow from operating activities amounted to €15.3m (€10.6m).
  • Basic/diluted earnings per share (EPS) was €0.030 (€0.030).
  • EBITDA increased by 20.0% to €15.0m (€12.5m), corresponding to an EBITDA margin of 10.4% (10.1%).
9 Months
  • Revenue increased by 17.2% to €427.5m (€364.8m). Organic revenue grew by 15.0%.
  • Net profit amounted to €11.0m (€4.8m), which represents a net profit margin of 2.6% (1.3%).
  • EBITDA increased by 22.4% to €40.4m (€33.0m), corresponding to an EBITDA margin of 9.5% (9.0%). Excluding IPO costs expensed, EBITDA increased by 27.9% to €42.2m a margin of 9.9%.
  • Number of members increased by 18.2% reaching 1 million members at 30 September 2017 (846K). Number of lab tests increased by 9.4% reaching 93.0m (85.0m) for the nine months.

REVENUE AND EARNINGS

€ millions (€m) Q3 2017 Q3 2016 Growth 9M 2017 9M 2016 Growth FY 2016
Revenue 144.0 124.1 16.0% 427.5 364.8 17.2% 497.3
Operating profit 8.5 6.7 26.9% 21.0 13.7 53.3% 17.6
Operating profit margin, % 5.9% 5.4% 4.9% 3.8% 3.5%
Net profit 4.3 3.2 34.4% 11.0 4.8 129.2% 6.5
Net profit margin, % 3.0% 2.6% 2.6% 1.3% 1.3%
Earnings per share, € 0.030 0.030 n/m 0.085 0.038 123.7% 0.046
Diluted earnings per share, € 0.030 0.030 n/m 0.085 0.037 129.7% 0.045
EBITDA[1] 15.0 12.5 20.0% 40.4 33.0 22.4% 44.3
EBITDA margin, % 10.4% 10.1% 9.5% 9.0% 8.9%

[1] For Alternative Performance Measure definitions and reconciliations, refer to note 9

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 27 October 2017. This interim report and other information about Medicover, is available at medicover.com

For further information, please contact:

Paula Treutiger, Corporate Communications & Investor Relations, Director           

Phone: +46-73-66 6599
Mail: paula.treutiger@medicover.com

Medicover is a leading international healthcare and diagnostic services company and was founded in 1995. Medicover operates a large number of ambulatory clinics, hospitals, specialty-care facilities and laboratories and the largest markets are Poland and Germany. In 2016, Medicover had revenues around €0.5 billion and 14,400 employees. For more information, go to www.medicover.com

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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.