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2021-11-03

Medicover: Interim report July-September 2021

Third quarter

  • Revenue amounted to €335.0m (€262.5m), an increase of 27.6% with an organic growth of 23.9%.
  • Operating profit (EBIT) was €30.0m (€27.3m), representing an operating margin of 9.0% (10.4%).
  • Net profit amounted to €18.4m (€19.5m), which represents a net profit margin of 5.5% (7.5%).
  • EBITDA was €58.0m (€50.1m), an increase by 15.7%. EBITDA margin was 17.3% (19.1%).
  • EBITDAaL amounted to €42.8m (€38.1m), corresponding to an EBITDAaL margin of 12.8% (14.5%).
  • Net cash flow from operating activities was €67.0m (€41.2m).
  • Basic/diluted earnings per share were €0.123 (€0.108).

Nine months

  • Revenue amounted to €1,001.1m (€700.1m), an increase of 43.0% with an organic growth of 44.1%.
  • Operating profit (EBIT) was €117.8m (€31.4m), representing an operating margin of 11.8% (4.5%).
  • Net profit amounted to €78.2m (€8.5m), which represents a net profit margin of 7.8% (1.2%).
  • EBITDA was €195.3m (€104.4m), an increase by 87.0%. EBITDA margin was 19.5% (14.9%).
  • EBITDAaL amounted to €153.9m (€67.3m), corresponding to an EBITDAaL margin of 15.4% (9.6%).
  • Net cash flow from operating activities was €162.8m (€116.1m).
  • Basic/diluted earnings per share were €0.501 (€0.054).

REVENUE AND EARNINGS

€ millions (€m) Q3 2021 Q3 2020 Growth 9M 2021 9M 2020 Growth FY 2020
Revenue 335.0 262.5 28% 1,001.1 700.1 43% 997.8
Operating profit 30.0 27.3 10% 117.8 31.4 275% 61.3
(EBIT)
Operating profit 9.0% 10.4% 11.8% 4.5% 6.1%
margin
Net profit 18.4 19.5 -6% 78.2 8.5 819% 27.3
Net profit margin 5.5% 7.5% 7.8% 1.2% 2.7%
Basic/diluted 0.123 0.108 14% 0.501 0.054 828% 0.182
earnings per
share, €

EBITDA 58.0 50.1 16% 195.3 104.4 87% 157.5
EBITDA margin 17.3% 19.1% 19.5% 14.9% 15.8%
EBITDAaL 42.8 38.1 12% 153.9 67.3 129% 108.5
EBITDAaL margin 12.8% 14.5% 15.4% 9.6% 10.9%
EBITA 32.6 30.1 8% 125.3 44.2 183% 76.9
EBITA margin 9.7% 11.5% 12.5% 6.3% 7.7%

Definition and reconciliation of alternative performance measures are available at www.medicover.com/financial-information.

This is information that Medicover AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out below at 7.45 (CET) on 3 November 2021. This interim report and other information about Medicover is available at medicover.com (http://www.medicover.com).

For further information, please contact:
Hanna Bjellquist, Head of Investor Relations
Phone: +46 70 303 32 72
E-mail: hanna.bjellquist@medicover.com

Conference call: A conference call for analysts and investors will be held today at 09.30 CET. To listen in please register here (https://edge.media-server.com/mmc/p/ckdfahus). To ask questions please dial in and use code: 8236179
SE: 08-566 184 67
DE: +49 (0) 305 200 2085
UK: +44 (0) 2071 928 338
US: +1 646 741 3167

Financial Calendar
Year-end report January-December 2021                                                   11 February 2022
Interim report January-March                                                                       27 April 2022
Annual general meeting                                                                               27 April 2022
Interim report April-June                                                                              22 July 2022
Interim report July-September                                                                     3 November 2022

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

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