DIAGNOSTIC & THERAPEUTIC CENTER OF ATHENS HYGEIA
9month 2007 Financial Results
9-months 2007 Profits Skyrocketed
-Group profits increased by 5x.
-Parent profits increased by 10x.
-Group Net Income reached EUR 10.3m in 9M 2007.
-EBITDA soared by 82.5% y-o-y, to EUR 16.5m.
The results for the 9-months 2007 were announced by the company "Diagnostics and Therapeutic Center of Athens HYGEIA S.A.", based on the International Financial Reporting Standards.
The 9M 2007 results of the Group and the parent Company are characterized by continuous growth compared to the 9M 2006, verifying the management's strategic plan. Moreover, during 3Q 2007 the Company concluded upgrade and refurbishment works of circa EUR 1m in the hospital.
The improvement of financial fundamentals is illustrated in all company's and group accounts:
REVENUES: Group revenues reached EUR 81.9m, increasing by 19% y-o-y versus EUR 68.8m in 9M 2006. Parent revenues increased by 16.9% y-o-y, reaching EUR 79.7m compared to EUR 68.2m the same period last year.
EBITDA: Group EBITDA soared by 82.5% reaching EUR 16.5m versus EUR 9.0m the same period in 2006. 9M 2007 EBITDA margin improved by 7p.p. (or 700bps) compared to the last year's period, on the back of the group restructuring that led to the drastic reduction of the operating expenses. Parent Company EBITDA stood at EUR 16.2m compared to EUR 8.6m the same period in 2006, increasing by 90%y-o-y, whilst the EBITDA margin improved by 780bps.
EARNINGS AFTER TAX & MINORITIES: Group net income skyrocketed to EUR 10.3m, increasing by 395%y-o-y, versus EUR 2.1m in 9M 2006. Parent Company net income surpassed EUR 10m, increasing by 916%y-o-y, compared to the same period in 2006 that stood at EUR 0,987m.
Note that 2007 has been characterized by the management of the Group as a year of extroversion and implementation of the growth investment plans.
Specifically, during this month is taking place with great success the Share Capital Increase of HYGEIA S.A. with contribution of MITERA S.A. shares. This process is part of the unification agreement between HYGEIA and MITERA.
Furthermore, the process of the EUR 300m Convertible Bond has started. With this Convertible Bond the management will finance the Group's investments in healthcare companies in the Southeastern Europe and the organic expansion of HYGEIA.
Recall that Hygeia's General Meeting has also approved the issuance of a EUR 200m Common Bond Loan that has not yet been exercised by the Company's management.
The abovementioned results and the corporate activity indicate that the Restructuring and Expansion Program of the Group continues with success. The Group's management continues with the implementation of the strategic plan and remains steadily focused on the reinforcement of the Group's activities both domestically and internationally, with the target to create the largest group of integrated Healthcare services in the region of S.E Europe, the Mediterranean and the Middle East.
-Group profits increased by 5x.
-Parent profits increased by 10x.
-Group Net Income reached EUR 10.3m in 9M 2007.
-EBITDA soared by 82.5% y-o-y, to EUR 16.5m.
The results for the 9-months 2007 were announced by the company "Diagnostics and Therapeutic Center of Athens HYGEIA S.A.", based on the International Financial Reporting Standards.
The 9M 2007 results of the Group and the parent Company are characterized by continuous growth compared to the 9M 2006, verifying the management's strategic plan. Moreover, during 3Q 2007 the Company concluded upgrade and refurbishment works of circa EUR 1m in the hospital.
The improvement of financial fundamentals is illustrated in all company's and group accounts:
REVENUES: Group revenues reached EUR 81.9m, increasing by 19% y-o-y versus EUR 68.8m in 9M 2006. Parent revenues increased by 16.9% y-o-y, reaching EUR 79.7m compared to EUR 68.2m the same period last year.
EBITDA: Group EBITDA soared by 82.5% reaching EUR 16.5m versus EUR 9.0m the same period in 2006. 9M 2007 EBITDA margin improved by 7p.p. (or 700bps) compared to the last year's period, on the back of the group restructuring that led to the drastic reduction of the operating expenses. Parent Company EBITDA stood at EUR 16.2m compared to EUR 8.6m the same period in 2006, increasing by 90%y-o-y, whilst the EBITDA margin improved by 780bps.
EARNINGS AFTER TAX & MINORITIES: Group net income skyrocketed to EUR 10.3m, increasing by 395%y-o-y, versus EUR 2.1m in 9M 2006. Parent Company net income surpassed EUR 10m, increasing by 916%y-o-y, compared to the same period in 2006 that stood at EUR 0,987m.
Note that 2007 has been characterized by the management of the Group as a year of extroversion and implementation of the growth investment plans.
Specifically, during this month is taking place with great success the Share Capital Increase of HYGEIA S.A. with contribution of MITERA S.A. shares. This process is part of the unification agreement between HYGEIA and MITERA.
Furthermore, the process of the EUR 300m Convertible Bond has started. With this Convertible Bond the management will finance the Group's investments in healthcare companies in the Southeastern Europe and the organic expansion of HYGEIA.
Recall that Hygeia's General Meeting has also approved the issuance of a EUR 200m Common Bond Loan that has not yet been exercised by the Company's management.
The abovementioned results and the corporate activity indicate that the Restructuring and Expansion Program of the Group continues with success. The Group's management continues with the implementation of the strategic plan and remains steadily focused on the reinforcement of the Group's activities both domestically and internationally, with the target to create the largest group of integrated Healthcare services in the region of S.E Europe, the Mediterranean and the Middle East.