Interim report January-March 2017: Continued strong development in the insurance market

• Continued strong organic growth
• Moving into new diagnostic areas
• Increased capacity in existing premises enables continued expansion

Events after end of the reporting period

• Trygg-Hansa and GHP in collaboration regarding health care planning

First quarter 2017 

• Sales revenues increased to SEK 260.8 million (231.5) 
• Organic growth amounted to 11.0 percent (5.9) 
• EBITDA amounted to SEK 18.2 million (18.1) 
• EBITDA margin amounted to 7.0 percent (7.8) 
• Result after tax (EAT) amounted to SEK 8.2 million (9.4) 
• Result per share amounted to SEK 0.12 (0.12)

CEO’s comments
Driven by high demand and with our attractivity as an employer, we had continued strong organic growth of as much as 11 percent in the first quarter of 2017. However, as expected the positive development of results has temporarily slowed down, primarily due to the fact that we are now operational in the United Arab Emirates. Our results from that part of the business are now dependent on how well the hospitals perform in terms of a number of key ratios and it naturally takes a little time to get measurements and a positive trend in place. We expect to make considerable progress during the year.

During the quarter GHP has taken a number of important steps in its development. As already stated above it is the first full quarter that we are operative in SKMCA in the United Arab Emirates, we have started a new neurological centre in Gothenburg and we have also started new collaboration with Trygg Hansa. Furthermore, we have employed a new CEO at Ortho Center Stockholm, established a new treatment package for the obese at Kirurgkliniken and expanded our infrastructure in Lund.

The collaboration with Trygg Hansa is an important step forward for our Collaborative Care concept. In this collaboration we are responsible for ensuring that all of Trygg Hansa’s customers receive care that is of the highest possible quality thanks to efficient health care chains. This means that we can continue to develop our concept of creating social benefit and thus be the best supplier for our customers.

At Arytmicenter we have dropped a bit on the revenue side as Karolinska have decided to offer treatments for patients from other County Councils, despite the fact that it is already an undertreated diagnostic area in Stockholm. However, there is a great need in Sweden so we reckon on getting back to normal shortly.

In Copenhagen we are growing quickly, which has contributed to a positive trend over the past quarters. In Århus, on the other hand, we continue to have challenges in the form of far too low demand to be able to maintain an efficient business. We need to broaden our range of services to our customers there by offering further specialties so as to be able to attain a level where the business can be planned and run efficiently.

In Skåne we are performing very positively, with great demand from both insurance companies and County Councils. We have therefore expanded the infrastructure by adding greater capacity for outpatients, treatments and operations.

In the coming quarter we will very much focus on starting up our new health care planning service, which will begin to take patients on 7 July. We are also working on developing our health-promoting service, which is part of the collaboration with Trygg Hansa.

In addition, we are fully focused on further developing our business in the UAE.

25 April 2017
Gothenburg
GHP Specialty Care AB (publ)

Daniel Öhman
CEO

Queries should be addressed to:
Daniel Öhman, CEO, Tel: +46 708 55 37 07
Philip Delborn, CFO, Tel: +46 702 12 52 64

GHP is an internationally active health care provider that operates specialist clinics in a select number of diagnostic areas through the application of a business model that is unique in the health care industry, where leading doctors become partners and shareholders. Each clinic specialises in a particular patient group, and this leads to increased efficiency and higher quality. This is the cornerstone of GHP’s business philosophy – “Quality through specialisation”. GHP shares are traded on the Small Cap list of Nasdaq Stockholm under the ticker symbol “GHP”.

GHP Specialty Care AB (publ) | Corp. ID No. 556757-1103
Södra Hamngatan 45 | SE-411 06 Gothenburg | Sweden
Tel +46-31 712 53 00 | Fax +46-31 313 13 21 | www.ghp.se

GHP Specialty Care AB (publ) is required to publish the information herein pursuant to the EU Market Abuse Regulation. This information was published, through the agency of the contact persons set out above, on 25 April 2017 at 08:00 am 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.

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