EUROMEDICA Α.Ε.
Comments on 2008 Results
Εuromedica S.A.
19.4% increase in turnover and 18.3% rise in EBITDA
Euromedica Group's turnover rose by 19.4% in 2008 compared to 2007 reaching euro 229.12 million compared to euro 191.86 million the previous year. EBITDA stood at euro 39.10 million up from euro 33.04 million last year, which is a significant rise of some 18.3%.
Euromedica Group's increased operating results are due to improved results for the units which were already in the Group, along with the 23 new units added to the Group's portfolio during 2008 either via acquisitions or the establishment of new companies.
Euromedica Group today consists of a network of 82 units that operate in the healthcare services sector across the entire territory of Greece and also is expanded in Albania, comprising 17 hospitals, 56 medical centres and 9 rehabilitation and recovery centres.
At Parent Company level, turnover in 2008 rose by 4.4% from euro 152.64 million in 2007 to euro 159.40 million in 2008, while a small drop (3.2%) in EBITDA was recorded, with it falling from euro 21.15 million in the previous year to euro 20.47 million.
As far as EBT for both the Group and Parent Company are concerned, there were losses in 2008 of euro 14.31 million and euro 26.02 million respectively since those figures reflect the losses from valuation of the IASO share portfolio due to the particularly negative situation with the stock exchange during all of 2008. The company owned 6,732,341 IASO shares in its portfolio on 31.12.2008 accounting for 12.66% of its portfolio.
Group results net of tax also saw losses of euro 11.59 million while the situation with the company was losses of euro 19.20 million. If no regard is taken of the valuation of IASO shares held by Euromedica, then the net results net of tax would have been profits of euro 12.38 million for the Group and euro 4.77 million for the Parent Company.
19.4% increase in turnover and 18.3% rise in EBITDA
Euromedica Group's turnover rose by 19.4% in 2008 compared to 2007 reaching euro 229.12 million compared to euro 191.86 million the previous year. EBITDA stood at euro 39.10 million up from euro 33.04 million last year, which is a significant rise of some 18.3%.
Euromedica Group's increased operating results are due to improved results for the units which were already in the Group, along with the 23 new units added to the Group's portfolio during 2008 either via acquisitions or the establishment of new companies.
Euromedica Group today consists of a network of 82 units that operate in the healthcare services sector across the entire territory of Greece and also is expanded in Albania, comprising 17 hospitals, 56 medical centres and 9 rehabilitation and recovery centres.
At Parent Company level, turnover in 2008 rose by 4.4% from euro 152.64 million in 2007 to euro 159.40 million in 2008, while a small drop (3.2%) in EBITDA was recorded, with it falling from euro 21.15 million in the previous year to euro 20.47 million.
As far as EBT for both the Group and Parent Company are concerned, there were losses in 2008 of euro 14.31 million and euro 26.02 million respectively since those figures reflect the losses from valuation of the IASO share portfolio due to the particularly negative situation with the stock exchange during all of 2008. The company owned 6,732,341 IASO shares in its portfolio on 31.12.2008 accounting for 12.66% of its portfolio.
Group results net of tax also saw losses of euro 11.59 million while the situation with the company was losses of euro 19.20 million. If no regard is taken of the valuation of IASO shares held by Euromedica, then the net results net of tax would have been profits of euro 12.38 million for the Group and euro 4.77 million for the Parent Company.