Fourth Quarter

  • Revenue increased by 15.2% to €152.7m (€132.5m). Organic revenue grew by 12.6%.
  • Operating profit amounted to €7.8m (€3.9m), representing an operating margin of 5.1% (2.9%).
  • Net profit amounted to €9.2m (€1.7m), which represents a net profit margin of 6.0% (1.3%).
  • Cash flow from operating activities amounted to €17.3m (€7.3m).
  • Basic/diluted earnings per share (EPS) was €0.067 (€0.008).
  • EBITDA increased by 28.1% to €14.6m (€11.4m), corresponding to an EBITDA margin of 9.6% (8.6%).
    Full Year
  • Revenue increased by 16.7% to €580.2m (€497.3m). Organic revenue grew by 14.5%.
  • Net profit amounted to €20.2m (€6.5m), which represents a net profit margin of 3.5% (1.3%).
  • EBITDA increased by 24.2% to €55.0m (€44.3m), corresponding to an EBITDA margin of 9.5% (8.9%). Excluding IPO costs expensed, EBITDA increased by 27.5% to €56.5m a margin of 9.7%.
  • Number of members increased by 15.2% reaching 1,024K members at 31 December 2017 (889K). Number of lab tests increased by 7.8% reaching 124.0m (115.0m) for the year.
  • The Board of Directors proposes that no dividend be paid for the 2017 financial year.

With this release, Medicover also announces another investment of €4.1m into MaxCure, which in addition to the €2.6m in January will bring Medicover’s holding to 30.5%.


€ millions (€m) Q4 2017 Q4 2016 Growth FY 2017 FY 2016 Growth
Revenue 152.7 132.5 15% 580.2 497.3 17%
Operating profit 7.8 3.9 100% 28.8 17.6 64%
Operating profit margin, % 5.1% 2.9% 5.0% 3.5%
Net profit 9.2 1.7 N/M 20.2 6.5 211%
Net profit margin, % 6.0% 1.3% 3.5% 1.3%
Earnings per share, € 0.067 0.008 N/M 0.157 0.046 241%
Diluted earnings per share, € 0.067 0.008 N/M 0.157 0.045 249%
EBITDA1 14.6 11.4 28% 55.0 44.3 24%
EBITDA margin, %1 9.6% 8.6% 9.5% 8.9%

[1] For Alternative Performance Measure definitions and reconciliations, refer to note 11

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 9 February 2018. This interim report and other information about Medicover, is available at

For further information, please contact:

Paula Treutiger, Corporate Communications & Investor Relations, Director           

Phone: +46-73-66 6599

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


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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