HYGEIA GROUP ? Q1 2017 Financial Results
Press Release
HYGEIA GROUP – Q1 2017 Financial Results
- · Revenue amounted to €61.6m, up by 4.4% compared to 2016.
- · EBITDA showed improvement, amounting to €11.6m, as opposed to €10.4m in earnings for 2016.
Within its obligation to inform the investor community, the company Diagnostic & Therapeutic Center of Athens HYGEIA SA (hereinafter HYGEIA) announced the main consolidated operating results for the first quarter of 2017.
Consolidated revenue amounted to €61.6m, up by 4.4% compared to Q1 2016. EBITDA for the quarter recorded a significant increase by 11.5%, amounting to €11.6m.
Note that the consolidated results for the interim periods of 2017 and 2016 have been negatively affected by the unilateral Greek government decisions for cutbacks when invoicing hospitalization fees and diagnostic tests for individuals insured with national insurer EOPYY (rebate and claw-back). These decisions are pursuant to Article 100 of Law 4172/2013 (Government Gazette Vol. A 167), were implemented retroactively as of 01/01/2013 and will continue to be in force until 31/12/2018.
|
Million € |
Q1 2017 |
Q1 2016 |
% Change |
|
|
Group |
||||
|
Revenue |
61.6 |
59.0 |
4.4% |
|
|
EBITDA(1) |
11.6 |
10.4 |
11.5% |
|
(1) Results before taxes, financial and investment results, depreciation and amortization.
HYGEIA Hospital SA was founded in 1970 and has since been active in the provision of primary and secondary healthcare services, occupying a leading position in the private Greek healthcare sector. The Company is listed in the Athens Exchange and employs over 3,176 people. In January 2006, MARFIN INVESTMENT GROUP (MIG) gained control of the Company and launched a series of investment initiatives, with the strategic objective being to create the largest group of integrated healthcare services. HYGEIA Group owns three hospitals in Greece (HYGEIA, MITERA & LETO) and one in Albania (HYGEIA Tirana), with a total capacity of 1,261 licensed beds, 52 operating rooms, 19 delivery rooms and 10 ICUs. It is also active in the area of primary healthcare, as it owns two Diagnostic Centers (HYGEIANET Athens & Peristeri) and one Molecular Biology & Cytogenetics Center (AlfaLab), while it also runs a company trading in special materials, consumables, pharmaceuticals and general medical supplies (Y-LOGIMED). Furthermore, it is active in the area of research, production and trading of medical cosmetics (BEATIFIC).