ORPEA S.A. quarterly revenue
- Quarterly revenue growth of 11.3% vs. first-quarter 2023,
including 9.6% organic growth - Solid growth of 6.3% in
France - Strong momentum in international revenue, up
15.5%
- Continued overall improvement in the average occupancy rate,
which rose by +2.1 points over the period to 85.1%: -
International : up 3.5 points, to 84.6% - France: stable
at 85.9%
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ORPEA (Paris:ORP):
Consolidated revenue for Q1 2024 reached 1,374 million euros,
up 11.3%. The high level of organic growth (9.6%) was driven by a
2.1-point increase in the average occupancy rate, sustained effect
of price increases, and the positive impact of the contribution
from the opening of new facilities.
Solid growth across all the Group's geographies:
Organic growth in Group revenue reflects the following factors:
1. The year-on-year change in revenue of existing facilities as a
result of changes in their occupancy and per diem rates; 2. The
year-on-year change in revenue of refurbished facilities or
facilities where capacity was increased in the current or previous
year; 3. The year-on-year change in revenue generated in the
current period by facilities created, and 4. the change in revenue
of recently acquired facilities in comparison with the previous
equivalent period.
Sharp rise in occupancy rate, driven by international
operations:
In accordance with IAS 1 “Presentation of financial statements”
and IFRS 8 “Operating segments”, the Company now presents its
financial statements according to a new geographical breakdown
reflecting changes in its internal organization:
- France;
- Southern Europe and Latam: Spain,
Italy, Portugal and Latin America;
- Northern Europe: Germany,
Netherlands, Belgium and Luxembourg;
- Eastern Europe: Austria,
Switzerland, Czech Republic, Slovenia and Croatia;
- Other geographies: Ireland, Poland,
United Kingdom, China and United Arab Emirates.
1- Overview of operations in
first-quarter 2024
All geographic regions reported dynamic growth in the first
quarter of 2024, driven by a sustained price and care allowances
effect (approx. 5.8%), reinforced internationally by a strong
recovery in occupancy rates and the opening of new facilities.
The above-mentioned price effect is mainly due to tariff
increases, particularly outside France, in an inflationary
environment that has impacted the main operating expense line items
since 2022.
The number of facilities (nursing homes + clinics + assisted
living facilities) in operation stood at 1,040 at the end of the
first quarter 2024. This compares with 1,003 facilities at the end
of the first quarter 2023, the increase resulting from the
inclusion in the scope of consolidation of 25 facilities (mainly in
Belgium and the Netherlands in the second quarter of 2023) and the
net balance of new facilities opened (mainly smaller facilities in
the Netherlands).
The number of beds in operation (retirement homes + clinics +
assisted living apartments) stood at 93,297 at the end of the first
quarter of 2024, compared with 93,470 beds at the end of December
2023 and 92,185 beds at the end of March 2023. The decrease in the
number of beds was mainly due to the closure and combination of
facilities, particularly in Belgium.
2- Key highlights by geographical
area
In France, revenue rose by +6.3% to 590 million euros.
This trend is mainly due to rate increases, which do not fully
offset inflation, one-off financial allocations, and, to a lesser
extent, to higher occupancy rates in clinics (medical and
rehabilitation care, mental health).
The occupancy rate in France remained stable compared with the
first quarter of 2023 at 85.9%, with an increase of +0.6 point in
clinics and a slight decline in nursing homes (-0.4 points to
83.1%). The nursing homes activity in France remains far from its
historical normative levels and has not yet benefitted, in the
early part of this year, from the favourable impact of the many
structural initiatives undertaken, including those presented at the
2023 annual results.
Revenue for Southern Europe and Latam (Spain, Italy,
Portugal and Latin America) totaled 105 million euros, up +13.2%
organically. Reported growth, which includes the closure of
facilities in Spain, Portugal and Latam, was +12.1%.
The average occupancy rate across the area rose sharply over the
period, to 87.5% (up 3.5 points). Spain, the area's main
contributor, saw strong momentum driven by a significant
improvement in its occupancy rate (+5.6 points vs. Q1 2023).
Revenue for the Northern Europe area (Germany, Belgium,
Netherlands, Luxembourg) totaled 392 million euros, up +18%, of
which +11.9% was organic. This strong rise in organic growth was
driven by an increase in the average occupancy rate (+3.8 points),
significant rate revisions and the opening of new facilities,
mainly in the Netherlands. The difference between the organic
growth rate and the published growth rate results from the
inclusion in the scope of consolidation, in the second quarter of
2023, of activities in Belgium and the Netherlands.
Revenue in Eastern Europe (Austria, Switzerland, Czech
Republic, Slovenia, Croatia) also posted strong growth (+12.2%, of
which +11.2% organic), to 233 million euros. The region's two main
contributors, Austria and Switzerland, benefited from a combination
of higher occupancy rates and major rate revisions. The area's
occupancy rate rose by 3.4 points over the period.
The Other geographies area(Ireland, Poland, United
Kingdom, China, United Arab Emirates) posted revenue of 55 million
euros, up +18.8%, benefiting from solid momentum in the zone's two
main contributors, Poland and Ireland.
3- Financial information and
calendar
The Company will hold its Annual General Meeting on June 25th
and plans to publish its revenue for the 1st half of 2024 on July
25th.
Appendix: changes in geographical
segmentation for financial data
The Company previously presented its financial performance as
follows:
- France Benelux UK Ireland;
- Central Europe: Germany, Italy,
Switzerland;
- Eastern Europe: Austria, Poland,
Czech Republic, Slovenia, Latvia, Croatia;
- Iberian Peninsula and Latam: Spain,
Portugal, Brazil, Uruguay, Mexico, Chile, Columbia;
- Other countries: China and UAE.
For example, revenue for the 1st quarter of 2023 were as
follows:
In accordance with IAS 1 “Presentation of financial statements”
and IFRS 8 “Operating segments”, the Company reports its financial
statements according to a new geographical breakdown reflecting
changes in its internal organization:
- France ;
- Southern Europe and Latam: Spain,
Italy, Portugal, Latin America;
- Northern Europe: Germany, the
Netherlands, Belgium, Luxembourg;
- Eastern Europe: Austria,
Switzerland, Czech Republic, Slovenia, Latvia, Croatia;
- Other geographies: Ireland, Poland,
United Kingdom, China, UAE.
About emeis With nearly 78,000 experts and professionals
in healthcare, care, and supporting the most vulnerable among us,
emeis operates in around twenty countries with five core
activities: psychiatric clinics, medical care and rehabilitation
clinics, nursing homes, home care services, and assisted-living
facilities. Every year, emeis welcomes around 283,000 residents,
patients, and other beneficiaries. emeis is committed and taking
action to rise to a major challenge facing our society, i.e. the
increase in the number of people placed in a vulnerable position as
a result of accidents, old age, or the cases of mental illness.
ORPEA S.A., the Group's parent company, is 50.2% owned by Caisse
des Dépôts, CNP Assurances, MAIF, and MACSF Epargne Retraite. It is
listed on the Euronext Paris stock exchange (ISIN: FR001400NLM4)
and is a member of the SBF 120 and CAC Mid 60 indices. Website:
www.emeis.com
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Press Contacts Isabelle HERRIER NAUFLE Medias
& e-reputation Director 07 70 29 53 74
isabelle.herrier@emeis.com
IMAGE 7 Charlotte LE BARBIER // Laurence HEILBRONN
06 78 37 27 60 // 06 89 87 61 37 clebarbier@image7.fr//
lheilbronn@image7.fr
Investor Relations Benoit LESIEUR Investor
Relations Director benoit.lesieur@emeis.com
Toll-free number for shareholders: 0 805 480 480
NEWCAP Dusan ORESANSKY 01 44 71 94 94
emeis@newcap.eu
Orpea (EU:ORP)
過去 株価チャート
から 5 2024 まで 6 2024
Orpea (EU:ORP)
過去 株価チャート
から 6 2023 まで 6 2024