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2016-07-22

Capio AB: Capio AB (publ) Interim report January - June 2016

April - June 2016

· Net sales MSEK 3,573 (3,441). Organic sales growth 4.0% (3.5) and
total sales growth 3.8% (2.5)

· Operating result (EBITDA)[1] MSEK 276 (237) and operating margin
7.7% (6.9). EBITDA increased by 16.5%

· Operating result (EBITA)[1] MSEK 172 (136) and operating margin
4.8% (4.0). EBITA increased by 26.5%

· Operating result (EBIT) MSEK 157 (66) and operating margin 4.4%
(1.9). EBIT increased by 137.9%

· Profit for the period[1] MSEK 113 (-31) and adjusted profit for
the period[1] MSEK 123 (60).

· Earnings per share[2] SEK 0.80 (-0.25) and adjusted earnings per
share[2] SEK 0.87 (0.47)

January - June 2016

· Net sales MSEK 7,176 (6,919). Organic sales growth 3.8% (3.2) and
total sales growth 3.7% (2.8)

· Operating result (EBITDA)[1] MSEK 572 (528) and operating margin
8.0% (7.6). EBITDA increased by 8.3%

· Operating result (EBITA)[1] MSEK 367 (327) and operating margin
5.1% (4.7). EBITA increased by 12.2%

· Operating result (EBIT) MSEK 333 (228) and operating margin 4.6%
(3.3). EBIT increased by 46.1%

· Profit for the period[1] MSEK 235 (42) and adjusted profit for the
period[1] MSEK 260 (154).

· Earnings per share[2] SEK 1.67 (0.33) and adjusted earnings per
share[2] SEK 1.84 (1.22)

[1] Refer to page 28 for definitions of EBITDA and EBITA. Profit and
adjusted profit refer to profit attributable to parent company
shareholders.

[2] Earnings per share and adjusted earnings per share before and
after dilution were the same. Refer to note 2 for calculations of
earnings per share.

CEO comments:

"Strong development in all segments - France on track for full price
decrease compensation in full year 2016."

· Organic sales growth of 4% and EBITA growth of 27% in the second
quarter 2016

· Continued strong development in Nordic and Germany
· France improving pace during the second quarter and is on the
right track to reach a flat margin development for the full year 2016

We are now in a trend of strong positive development in all segments
and we are in line with our plans going forward.

Nordic showed good net sales and result development. Organic sales
growth in the quarter was close to 5% and for the first six months it
was just below 4%. Operating margin (EBITA) improved more than one
percentage point in the quarter and close to a percentage point in
the first six months, compared to the same periods 2015.

The productivity increase in Proximity care in Sweden is continuing on
plan. Capio S:t Göran's hospital in Stockholm is enjoying double
digit sales growth as a consequence of the transfer of patient
volumes in connection with the preparation of the opening of the
down-sized New Karolinska Hospital. The new and larger accident and
emergency department (A&E) at Capio S:t Göran opened in late April
and will contribute to continued good growth. Specialist care has
also good development and is preparing to strengthen and streamline
the offer in the free healthcare choice market. Norway has
successfully integrated last year's acquisitions and is improving
results.

France has over the first six months almost fully compensated for the
Government's price cut in March of over 2%. In the first quarter the
negative margin gap was 0.4 percentage point compared to the same
quarter last year. In the second quarter the gap decreased to 0.1
percentage point. Ongoing actions are aiming at closing the gap
during the rest of the year. These actions contain reorganization of
employees, more efficient procurement, continuous improvements in a
few remaining lagging units and business development in medical
specialties. When compensating the remaining margin gap during the
second half of the year, this will create a good starting point for
next year's work to continue improve margins, as France will then end
the year with a higher run rate than the average margin for 2016.

It is encouraging to see that the growth in patient volumes was very
strong in France in the quarter - 6.3%. This reflects the
attractiveness of our focus on Modern Medicine and the continuous
shift from in- to out-patient treatments. It can be noted that
doctors in Capio Clinique du Tonkin Heart Clinic in Lyon performed
the first ever daycare TAVI operation (cardiac valve insertion) in
France on an 86 year old patient. The patient arrived early in the
morning and left in good health and spirit just after 6 pm on the
same day.

As expected, Germany had a strong second quarter and is for the first
six months on plan and positioned for continued improvements. The
improvements in the general hospitals continued with both strong
organic sales growth and increased productivity giving improved
margins.

In total 731 employees signed up for the convertible debenture loan
with a total amount of MSEK 155, whereof all members of Group
management (MSEK 23) and 12 out of 14 business area and regional
managers (MSEK 16) participated.

The focus going forward is of course on securing the ongoing strong
trends in the current businesses. We are also increasing the
preparations for digitalization in all areas from easier access for
patients over workflow improvements to standardizing administration
and medical records. There are a number of ongoing pilot projects and
these will be scaled up when proven efficient.

We are also actively searching for interesting acquisitions.

Thomas Berglund

President and CEO

Presentation of the interim report
Investors, analysts and media are invited to participate in a
telephone conference on July 22, 2016 at 09.30 am (CET). President
and CEO Thomas Berglund and CFO Olof Bengtsson will present the
report and answer questions. The telephone conference will be audio
casted live on www.capio.com. To participate in the telephone
conference, please register at www.capio.com
(http://edge.media-server.com/m/p/utxwbwq4) and dial in five minutes
prior to the start of the conference call.

Sweden: +46 8 566 426 90
UK: +44 203 008 98 07
US: +1 855 753 22 35
Finland: +35 898 171 04 93
France: +33 170 75 07 12

Prior to the start of the telephone conference, presentation slides
will be available at www.capio.com.

A recorded version of the audio cast will be available at
www.capio.com during the afternoon (CET).

Financial calendar
November 3, 2016, Interim report January - September 2016

February 10, 2017, Full year report January - December 2016

For further information
Thomas Berglund, President and CEO
Telephone: +46 733 88 86 00, E-mail: thomas.berglund@capio.com

Olof Bengtsson, CFO
Telephone: +46 761 18 74 69, E-mail: olof.bengtsson@capio.com

Kristina Ekeblad, Investor Relations Manager
Telephone: +46 708 31 19 40, E-mail: kristina.ekeblad@capio.com

Henrik Brehmer, SVP Group Communication and Public Affairs
Telephone: +46 761 11 34 14, E-mail: henrik.brehmer@capio.com

For further information regarding Capio's IR activities, refer to
www.capio.com (http://www.capio.com/investors)

This information is information that Capio AB (publ) 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 Henrik Brehmer
set out above, at 08.00 (CET) on July 22, 2016.

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http://news.cision.com/capio-ab/r/capio-ab--publ--interim-report-january...
http://mb.cision.com/Main/277/2049608/542776.pdf

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