ΥΓΕΙΑ Α.Ε.
"HYGEIA S.A.": PRESENTATION OF D.T.C.A. HYGEIA S.A. TO ASSOCIATION OF GREEK INSTITUTIONAL INVESTORS
Today May 8th, 2009 at the offices of the Association of Greek Institutional Investors in Athens was conducted the presentation of "D.T.C.A. HYGEIA S.A." on the back of the annual briefing of the Equity Analysts.
The presentation has been uploaded in the Company's website www.hygeia.gr.
The Company's management thoroughly presented the financial statements of the fiscal year 2008, the prospects and the strategic targets of the Group. 2008 results of the Group and the parent Company are characterized by continuous growth, due to the restructuring that followed after the acquisition from "MARFIN INVESTMENT GROUP" (ΜΙG). 2008 Consolidated financial statements are directly comparable with 2007 financial statements, due to the full consolidation MITERA-LETO, since November 2007, ACHILLION Limassol since the beginning 2008, EVANGELISMOS Paphos since July 2008 and SAFAK Group since December 2008.
2008 revenues and operating profits of the Group, the parent Company and the subsidiary companies are characterized by significant growth, proving that HYGEIA Group has defensive characteristics and operationally it is not directly affected from the economic crisis.
Specifically, 2008 consolidated revenues reached EUR 281.8m, increasing by 116.2%, versus EUR 130.3m in 2007. Parent Revenues increased by 23.2%y-o-y, reaching EUR 132.7m versus EUR 107.7m the same period last year. 2008 consolidated EBITDA increased by 107.5%y-o-y to EUR 49.8m. The consolidated EBITDA margin stood at 17.7%, mainly due to the Purchase Price Allocation (P.P.A) of MITERA and the increased provisions that management implemented in order to shield the Group in the upcoming economic crisis that is expected to peak during 2009. Parent Company EBITDA reached EUR 22.8m, increasing by 17.0%y-o-y, while the EBITDA margin reached 17.1%. Consolidated net income increased by 74.5%y-o-y to EUR 21m. Parent Company?s Earnings After Tax increased by 7.8%y-o-y to EUR 11.6m compared to EUR 10.7m in 2007, although FY08 earnings were burden with interest expenses of circa EUR 24.1m that occurred from the EUR 300m Convertible Bond Loan (C.B.L.).
Based on the very positive results, the Board of Directors will propose to the Annual General Meeting of the Company's Shareholders the distribution of EUR 0.17 per share through dividend distribution of a EUR 0.05 per share and a EUR 0.12 per share cash capital return (constructive dividend), based on the Company's policy to distribute significant returns to the long-term shareholders of the Company.
During 2008 HYGEIA Group continued to undertake significant strategic investment initiatives with main target the improvement of the Group's position in Greece, Cyprus and Southeastern Europe. The major strategic movements are:
1. The acquisition of the 50% stake of "SAFAK Group" in Istanbul (Turkey). SAFAK Group operates 4 hospitals of 470 beds capacity.
2. The acquisition of the 65.7% stake of "ACHILLION" private hospital in Limassol, Cyprus with 86 beds capacity.
3. The acquisition of the 60% stake of "EVANGELISMOS" private hospital in Paphos, Cyprus with 71 beds capacity.
4. The establishment of the company "STEM-HEALTH UNIREA S.A" in Romania that will develop a cord blood stem cell family bank.
5. Commence operations of "STEM-HEALTH HELLAS S.A" cord blood stem cell bank within HYGEIA Hospital.
6. Commence operations of the first Pediatric Cardiac Surgery & Pediatric Cardiac Clinic and the establishment of the first Pediatric Ophthalmology Department in Greece within MITERA Children's Hospital.
7. The Capital Restructuring of DTCA HYGEIA. The capital restructuring incorporates the early redemption of the Convertible Bond Loan of EUR 300m and the Share Capital Increase of EUR 83m in order to shield financially the Group.
2008 results, the various corporate actions and the investment movements indicate that the Restructuring and Expansion Program of the Group continues successfully.
2009 finds "DT.C.A HYGEIA" holding a leading position in the healthcare sector in Greece, and to be one of the fastest growing group's in the South-Eastern Europe.
In December, 2009, HYGEIA HOSPITAL TIRANA is expected to commence operations.
It will be the first private hospital the HYGEIA Group will build in Albania. HYGEIA HOSPITAL TIRANA will be located at the junction of the main traffic arteries in Tirana and its size will be 25,000sq.m. This will be an ultramodern seven-storey hospital with a 220-bed capacity. It has been designed in accordance with all internationally recognized standards that have already been applied all over the world, and is the largest investment in the private healthcare sector in Albania, which amounts to ?50 million. Objective is to treat patients not only in Albania but from neighboring countries as well, like Kosovo, FYROM and Montenegro.
The Company's management thoroughly presented the financial statements of the fiscal year 2008, the prospects and the strategic targets of the Group. 2008 results of the Group and the parent Company are characterized by continuous growth, due to the restructuring that followed after the acquisition from "MARFIN INVESTMENT GROUP" (ΜΙG). 2008 Consolidated financial statements are directly comparable with 2007 financial statements, due to the full consolidation MITERA-LETO, since November 2007, ACHILLION Limassol since the beginning 2008, EVANGELISMOS Paphos since July 2008 and SAFAK Group since December 2008.
2008 revenues and operating profits of the Group, the parent Company and the subsidiary companies are characterized by significant growth, proving that HYGEIA Group has defensive characteristics and operationally it is not directly affected from the economic crisis.
Specifically, 2008 consolidated revenues reached EUR 281.8m, increasing by 116.2%, versus EUR 130.3m in 2007. Parent Revenues increased by 23.2%y-o-y, reaching EUR 132.7m versus EUR 107.7m the same period last year. 2008 consolidated EBITDA increased by 107.5%y-o-y to EUR 49.8m. The consolidated EBITDA margin stood at 17.7%, mainly due to the Purchase Price Allocation (P.P.A) of MITERA and the increased provisions that management implemented in order to shield the Group in the upcoming economic crisis that is expected to peak during 2009. Parent Company EBITDA reached EUR 22.8m, increasing by 17.0%y-o-y, while the EBITDA margin reached 17.1%. Consolidated net income increased by 74.5%y-o-y to EUR 21m. Parent Company?s Earnings After Tax increased by 7.8%y-o-y to EUR 11.6m compared to EUR 10.7m in 2007, although FY08 earnings were burden with interest expenses of circa EUR 24.1m that occurred from the EUR 300m Convertible Bond Loan (C.B.L.).
Based on the very positive results, the Board of Directors will propose to the Annual General Meeting of the Company's Shareholders the distribution of EUR 0.17 per share through dividend distribution of a EUR 0.05 per share and a EUR 0.12 per share cash capital return (constructive dividend), based on the Company's policy to distribute significant returns to the long-term shareholders of the Company.
During 2008 HYGEIA Group continued to undertake significant strategic investment initiatives with main target the improvement of the Group's position in Greece, Cyprus and Southeastern Europe. The major strategic movements are:
1. The acquisition of the 50% stake of "SAFAK Group" in Istanbul (Turkey). SAFAK Group operates 4 hospitals of 470 beds capacity.
2. The acquisition of the 65.7% stake of "ACHILLION" private hospital in Limassol, Cyprus with 86 beds capacity.
3. The acquisition of the 60% stake of "EVANGELISMOS" private hospital in Paphos, Cyprus with 71 beds capacity.
4. The establishment of the company "STEM-HEALTH UNIREA S.A" in Romania that will develop a cord blood stem cell family bank.
5. Commence operations of "STEM-HEALTH HELLAS S.A" cord blood stem cell bank within HYGEIA Hospital.
6. Commence operations of the first Pediatric Cardiac Surgery & Pediatric Cardiac Clinic and the establishment of the first Pediatric Ophthalmology Department in Greece within MITERA Children's Hospital.
7. The Capital Restructuring of DTCA HYGEIA. The capital restructuring incorporates the early redemption of the Convertible Bond Loan of EUR 300m and the Share Capital Increase of EUR 83m in order to shield financially the Group.
2008 results, the various corporate actions and the investment movements indicate that the Restructuring and Expansion Program of the Group continues successfully.
2009 finds "DT.C.A HYGEIA" holding a leading position in the healthcare sector in Greece, and to be one of the fastest growing group's in the South-Eastern Europe.
In December, 2009, HYGEIA HOSPITAL TIRANA is expected to commence operations.
It will be the first private hospital the HYGEIA Group will build in Albania. HYGEIA HOSPITAL TIRANA will be located at the junction of the main traffic arteries in Tirana and its size will be 25,000sq.m. This will be an ultramodern seven-storey hospital with a 220-bed capacity. It has been designed in accordance with all internationally recognized standards that have already been applied all over the world, and is the largest investment in the private healthcare sector in Albania, which amounts to ?50 million. Objective is to treat patients not only in Albania but from neighboring countries as well, like Kosovo, FYROM and Montenegro.