Trading update Q3 – Robust recovery
Medicover AB (publ) is issuing a trading update before it releases its interim report as planned on the 6th November 2020.
Consolidated revenue for the quarter ended 30 September 2020 was €262.5m (€212.1m), an increase of 23.8% on prior year and an organic growth of 12.3%.
EBITDA for the quarter ended 30 September 2020 was €50.1m (€32.5m), an increase of 54.4% and a margin of 19.1% (15.3%).
EBITDAaL for the quarter ended 30 September 2020 was €38.1m (€22.3m) an increase of 71.3%, and a margin of 14.5% (10.5%).
EBIT for the quarter ended 30 September 2020 was €27.3m (€14.3m) an increase of 91.4%, and a margin of 10.4% (6.7%).
The Group continues to see a robust recovery overall in the business, with additional support from Covid-19 testing and care provision during the quarter. There continues to be a large degree of uncertainty on the progress of infection rates and government actions.
No further comments will be made until the full quarterly release scheduled for Friday 6th November 2020 at 07.45 CET.
All figures in this press release are preliminary and unaudited.
For further information, please contact:
Hanna Bjellquist, Head of Investor Relations
This information is information that Medicover AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 19.00 CEST on 13 October 2020.
This announcement may contain certain forward-looking statements and opinions. Forward-looking statements are statements that do not relate to historical facts and events and such statements and opinions pertaining to the future that, by example, contain wording such as “believes”, “estimates”, “anticipates”, “expects”, “assumes”, “forecasts”, “intends”, “could”, “will”, “should”, “would”, “according to estimates”, “is of the opinion”, “may”, “plans”, “potential”, “predicts”, “projects”, “to the knowledge of” or similar expressions, which are intended to identify a statement as forward-looking. This applies, in particular, to statements and opinions in this announcement concerning the future financial returns, plans and expectations with respect to the business and management of Medicover, future growth and profitability and general economic and regulatory environment and other matters affecting Medicover. Forward-looking statements are based on current estimates and assumptions made according to the best of Medicover’s knowledge. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause the actual results, including Medicover’s cash flow, financial condition and results of operations, to differ materially from the results, or fail to meet expectations expressly or implicitly assumed or described in those statements or to turn out to be less favourable than the results expressly or implicitly assumed or described in those statements. Accordingly, prospective investors and other third parties should not place undue reliance on the forward-looking statements herein. Medicover can give no assurance regarding the future accuracy of the opinions set forth herein or as to the actual occurrence of any predicted developments.
In light of the risks, uncertainties and assumptions associated with forward-looking statements, it is possible that the future events mentioned in this announcement may not occur. Moreover, the forward-looking estimates and forecasts derived from third-party studies referred to in the announcement may prove to be inaccurate. Actual results, performance or events may differ materially from those in such statements due to, without limitation, changes in general economic conditions, in particular economic conditions in the markets on which Medicover operates, changes affecting interest rate levels, changes affecting currency exchange rates, changes in competition levels, changes in laws and regulations, and occurrence of accidents or environmental damages.
The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice.
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 2019, Medicover had revenue around €844 million and 28,800 employees. For more information, go to www.medicover.com