Orpea: confirms FY 2019 sales target
(CercleFinance.com) - Retirement home operator Orpea's H1 2019 sales increased by 9.
6% to 1,840.6 million euros, supported by solid organic growth of 4.7% and acquisitions abroad.
EBITDAR (EBITDA before rental income) rose by 9.0% to 479.7 million euros, meaning a margin of 26.1%. Excluding the acquisition of Allerzorg, the group's margin increased by 10 basis points to 26.3%.
Underlying operating income reached 218.8 million euros (+8.4%) after amortisation and provisions of 98.8 million euros (+12.6%), reflecting the increase in real estate assets. Net income, group share reached 120.1 million euros, up 11.6%.
For FY 2019, the group has confirmed its target for sales of over 3,700 million euros (+8.2% compared to 2018), solid profitability and a program representing real estate sales of 250 million euros, Orpea said.
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6% to 1,840.6 million euros, supported by solid organic growth of 4.7% and acquisitions abroad.
EBITDAR (EBITDA before rental income) rose by 9.0% to 479.7 million euros, meaning a margin of 26.1%. Excluding the acquisition of Allerzorg, the group's margin increased by 10 basis points to 26.3%.
Underlying operating income reached 218.8 million euros (+8.4%) after amortisation and provisions of 98.8 million euros (+12.6%), reflecting the increase in real estate assets. Net income, group share reached 120.1 million euros, up 11.6%.
For FY 2019, the group has confirmed its target for sales of over 3,700 million euros (+8.2% compared to 2018), solid profitability and a program representing real estate sales of 250 million euros, Orpea said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.