Korian: raises forecasts
(CercleFinance.com) - Retirement home manager Korian's FY 2018 consolidated revenues reached 3,336 million euros, up 6.
4% as reported (compared with +5.0% in 2017), above the revised growth target of 6% provided in September 2018.
EBITDA reached 477 million euros, up 8.4% relative to 2017. Underlying Ebit reached 314 million euros, or 9.4% of sales (compared with 9.0% in 2017). Adjusted net income reached 123 million euros, up 28.1%
Korian has increased its forecasts for 2019, now targeting sales growth of at least 8%, i.e. 160 basis points higher than in 2018, with an operating margin of at least 14.5%, which represents a 20-bp increase relative to 2018, the group said.
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