Year-end report January–December 2021
Fourth quarter
- Revenue amounted to €376.3m (€297.7m), an increase of 26.4% with an organic growth of 21.6%.
- Operating profit (EBIT) was €41.6m (€29.9m), representing an operating margin of 11.1% (10.1%).
- Net profit amounted to €28.4m (€18.8m), which represents a net profit margin of 7.6% (6.3%).
- EBITDA was €75.1m (€53.1m), an increase by 41.6%. EBITDA margin was 20.0% (17.8%).
- EBITDAaL amounted to €56.9m (€41.2m), corresponding to an EBITDAaL margin of 15.1% (13.9%).
- Net cash flow from operating activities was €53.9m (€39.0m).
- Basic/diluted earnings per share were €0.186 (€0.123).
Full year
- Revenue amounted to €1,377.4m (€997.8m), an increase of 38.0% with an organic growth of 38.1%.
- Operating profit (EBIT) was €159.4m (€61.3m), representing an operating margin of 11.6% (6.1%).
- Net profit amounted to €106.6m (€27.3m), which represents a net profit margin of 7.7% (2.7%).
- EBITDA was €270.4m (€157.5m), an increase by 71.7%. EBITDA margin was 19.6% (15.8%).
- EBITDAaL amounted to €210.8m (€108.5m), corresponding to an EBITDAaL margin of 15.3% (10.9%).
- Net cash flow from operating activities was €216.7m (€155.1m).
- Basic/diluted earnings per share were €0.686 (€0.182).
- The board of directors proposes a dividend for 2021 of €0.12 (€0.07) per share.
REVENUE AND EARNINGS
| € millions (€m) | Q4 2021 | Q4 2020 | Growth | FY 2021 | FY 2020 | Growth |
| Revenue | 376.3 | 297.7 | 26% | 1,377.4 | 997.8 | 38% |
| Operating profit (EBIT) | 41.6 | 29.9 | 39% | 159.4 | 61.3 | 160% |
| Operating profit margin | 11.1% | 10.1% | 11.6% | 6.1% | ||
| Net profit | 28.4 | 18.8 | 51% | 106.6 | 27.3 | 290% |
| Net profit margin | 7.6% | 6.3% | 7.7% | 2.7% | ||
| Basic/diluted earnings per share, € | 0.186 | 0.123 | 51% | 0.686 | 0.182 | 277% |
| EBITDA | 75.1 | 53.1 | 42% | 270.4 | 157.5 | 72% |
| EBITDA margin | 20.0% | 17.8% | 19.6% | 15.8% | ||
| EBITDAaL | 56.9 | 41.2 | 38% | 210.8 | 108.5 | 94% |
| EBITDAaL margin | 15.1% | 13.9% | 15.3% | 10.9% | ||
| EBITA | 45.9 | 32.7 | 41% | 171.2 | 76.9 | 123% |
| EBITA margin | 12.2% | 11.0% | 12.4% | 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 (CET) on 11 February 2022. This year-end report and other information about Medicover is available at medicover.com.
For full report, see attached pdf.
Financial Calendar
Annual report week 13
Interim report January-March 27 April
Annual general meeting 27 April
Interim report April-June 22 July
Interim report July-September 3 November
For further information, please contact:
Hanna Bjellquist, Head of Investor Relations
Phone: +46 70 303 32 72
E-mail: hanna.bjellquist@medicover.com
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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