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Interim report April–June 2021

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Second quarter

  • Revenue amounted to €348.9m (€198.8m), an increase of 75.5% with an organic growth of 79.0%.
  • Operating profit (EBIT) was €46.2m (€-2.3m), representing an operating margin of 13.3% (-1.2%).
  • Net profit amounted to €33.5m (€-8.5m), which represents a net profit margin of 9.6% (-4.3%).
  • EBITDA was €71.8m (€25.3m), an increase by 183.9%. EBITDA margin was 20.6% (12.7%).
  • EBITDAaL amounted to €58.2m (€12.4m), corresponding to an EBITDAaL margin of 16.7% (6.3%).
  • Net cash flow from operating activities was €38.1m (€38.3m).
  • Basic/diluted earnings per share were €0.203 (€-0.056).
  • Covid-19-pandemic had a net positive impact on operating performance.
 

First half

  • Revenue amounted to €666.1m (€437.6m), an increase of 52.2% with an organic growth of 56.4%.
  • Operating profit (EBIT) was €87.8m (€4.1m), representing an operating margin of 13.2% (0.9%).
  • Net profit amounted to €59.8m (€-11.0m), which represents a net profit margin of 9.0% (-2.5%).
  • EBITDA was €137.3m (€54.3m), an increase by 152.7%. EBITDA margin was 20.6% (12.4%).
  • EBITDAaL amounted to €111.1m (€29.2m), corresponding to an EBITDAaL margin of 16.7% (6.7%).
  • Net cash flow from operating activities was €95.8m (€74.9m).
  • Basic/diluted earnings per share were €0.377 (€-0.062).
 

REVENUE AND EARNINGS

€ millions (€m) Q2 2021 Q2 2020 Growth 6M 2021 6M 2020 Growth FY 2020
Revenue 348.9 198.8 76% 666.1 437.6 52% 997.8
Operating profit (EBIT) 46.2 -2.3 2,114% 87.8 4.1 2,043% 61.3
Operating profit margin 13.3% -1.2% 13.2% 0.9% 6.1%
Net profit 33.5 -8.5 491% 59.8 -11.0 640% 27.3
Net profit margin 9.6% -4.3% 9.0% -2.5% 2.7%
Basic/diluted earnings/(loss) per share, € 0.203 -0.056 463% 0.377 -0.062 708% 0.182
EBITDA 71.8 25.3 184% 137.3 54.3 153% 157.5
EBITDA margin 20.6% 12.7% 20.6% 12.4% 15.8%
EBITDAaL 58.2 12.4 368% 111.1 29.2 280% 108.5
EBITDAaL margin 16.7% 6.3% 16.7% 6.7% 10.9%
EBITA 48.6 5.2 838% 92.7 14.1 559% 76.9
EBITA margin 13.9% 2.6% 13.9% 3.2% 7.7%
Definition and reconciliation of alternative performance measures are available at www.medicover.com/financial-information
 

This interim report has not been subject to review by the Company’s auditor.

This 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 7.45 (CEST) on 23 July 2021. This interim report and other information about Medicover is available at medicover.com.

 

For further information, please contact:

Hanna Bjellquist, Head of Investor Relations
Phone: +46 70 303 32 72
E-mail: hanna.bjellquist@medicover.com

Conference call: A conference call for analysts and investors will be held today at 09.30 CEST. To listen in please register here. To ask questions please dial in and use code: 2561816SE: 08-566 184 67
DE: +49 (0) 305 200 2085
UK: +44 (0) 2071 928 338 
US: +1 646 741 3167

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,laboratories and blood-drawing points and the largest markets are Poland and Germany. In 2020, Medicover had revenue of EUR 998 million and more than 32,000 employees. For more information, go to www.medicover.com

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