Interim report January–March 2019

  • Revenue increased by 23.3% to €199.7m (€161.9m). Organic revenue grew by 15.4%.
  • Operating profit amounted to €11.3m (€9.0m), representing an operating margin of 5.7% (5.6%).
  • Net profit amounted to €6.9m (€8.5m), which represents a net profit margin of 3.5% (5.3%).
  • EBITDA increased by 23.9% to €27.5m (€22.2m), corresponding to an EBITDA margin of 13.8% (13.7%).
  • Cash flow from operating activities increased to €24.1m (€13.7m).
  • Basic/diluted earnings per share were €0.046 (€0.060).
  • Members increased by 14.5% to 1,232K.

REVENUE AND EARNINGS 

€ millions (€m) Q1 2019 Q1 2018  Growth FY 2018 
Revenue 199.7 161.9 23% 671.6
Operating profit 11.3 9.0 26% 33.7
Operating profit margin, % 5.7% 5.6% 5.0%
Net profit 6.9 8.5 -19%  24.2
Net profit margin, % 3.5% 5.3% 3.6%
Basic/diluted earnings per share, € 0.046 0.060 -23%  0.167
EBITDA 27.5 22.2 24% 90.7
EBITDA margin, % 13.8% 13.7% 13.5%
EBITDAaL 18.5 14.5 28% 58.5
EBITDAaL margin, % 9.3% 9.0% 8.7%
EBITA 12.5 9.6 30% 37.0
EBITA margin, % 6.3% 5.9% 5.5%

For definition and reconciliation of alternative performance measures, refer to note 9.

All comparative figures have been restated for the impact of the adoption of IFRS 16, Leases compared to the published consolidated financial statements as at and for the year ended 2018. Refer to the restatement release of 17 April 2019.

Contact information 

For further information, please contact: 

Hanna Bjellquist, Head of Investor Relations 

Phone: +46 70 303 32 72 

E-mail: hanna.bjellquist@medicover.com 

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 above at 8.00 (CEST) on 3 May 2019. This interim report and other information about Medicover is available at 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 2018, Medicover had revenue around €672 million and 20,970 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.