Orpea: 2016 Revenue Ahead of Guidance: €2,842M (up 18.8% on 2015)
Acquisition of “Spitex Ville Et Campagne”, Leading Private Swiss Provider of Homecare Services
2017 Revenue Target Set at €3,125M (up 10% on 2016), Which is Already Secured
PUTEAUX,
The
Strong growth of 18.8% in 2016 revenue to €2,841.8m
In €m
IFRS |
Full-year | Quarterly | ||||||||||
2016 | 2015 | Change | Q4 2016 | Q4 2015 | Change | |||||||
|
1,697.0 | 1,596.6 | +6.3% | 432.7 | 406.2 | +6.5% | ||||||
% of total revenue | 60% | 67% | 59% | 68% | ||||||||
International | 1,144.8 | 795.0 | +44.0% | 303.9 | 242.8 | +25.2% | ||||||
% of total revenue | 40% | 33% | 41% | 32% | ||||||||
|
501.4 | 287.5 | 128.2 | 100.9 | ||||||||
|
176.2 | 109.5 | 47.4 | 37.2 | ||||||||
|
161.1 | 157.8 | 40.8 | 41.5 | ||||||||
|
0.4 | - | 0.2 | - | ||||||||
|
101.8 | 63.9 | 34.6 | 16.2 | ||||||||
|
48.4 | 45.9 | 11.9 | 11.1 | ||||||||
|
11.1 | - | 3.0 | - | ||||||||
|
142.7 | 130.1 | 37.2 | 35.8 | ||||||||
Czechy | 1.7 | 0.3 | 0.6 | 0.1 | ||||||||
Total revenue | 2,841.8 | 2,391.6 | +18.8% | 736.6 | 649.0 | +13.5% | ||||||
Including organic growth1 |
+6.0% | +6.2% |
Medi-System in
Commenting on the figures,
“2016 was another record year for
As in previous years, the growth and development of the international businesses drove our 2016 performance with contributions from acquisitions, which now generate 40% of our consolidated revenue, and from organic growth, which held up at a brisk pace of 6.0%.
This robust organic growth, which was ahead of the target, reflected:
- consistently high occupancy rates across all markets
- the ramp-up in new facilities opened over the past two years, mostly in large towns and cities or in areas with strong purchasing power
- the opening of over 2,700 beds during 2016 in 26 facilities and extensions – 70% of them located outside
France – and in leading cities.
Thanks to our powerful and sustained development momentum, our business has doubled in size over the past four years (from 2012 to 2016), just as it did between 2007 and 2011.
We achieved this brisk top-line growth without deviating from our target of quality as well as solid and carefully controlled profitability, in keeping with our longstanding strategy.”
2017: continuing drive to open facilities (2,000 new beds) and create jobs
In 2017,
These new facilities and extensions are the result of projects launched over the past few years and will drive organic growth and create value.
In 2017, thanks to this flurry of new openings,
Acquisition of “Spitex Ville et Campagne”, the leading Swiss homecare provider
Founded in 1986, “Spitex Ville et Campagne” has built Switzerland’s largest private network of care and homecare services for the elderly. With a presence in 25 of the 26 Swiss cantons, “Spitex Ville et Campagne” has a unique nationwide footprint in a sector with substantial barriers to entry, requiring separate permits in each canton.
“Spitex Ville et Campagne” has built a very strong reputation among its customers and with the cantonal health authorities and insurers, which will give Senevita, ORPEA’s Swiss subsidiary, an invaluable network.
Spitex posted revenue of €40m in 2016.
For Senevita, this acquisition represents a unique opportunity to:
- build a seamless homecare and facility-based offering that fits the needs of the elderly at every stage of their later life and for every degree of dependence
- hasten its development in nursing homes, especially in locations where
ORPEA does not yet have a presence. Senevita will be able to accelerate the construction of independent living facilities, with “Spitex Ville et Campagne” providing an additional “homecare” building block in these facilities.
Guidance for 2017: revenue target of €3,125 million (up 10% on 2016)
In 2017,
As it stands, this guidance does not factor in any other developments.
Thanks to dedicated expert teams in each country, supported by those at its corporate headquarters,
Financial reporting schedule for 2017
The following dates are subject to change. Press releases will be published after the market close.
Event | Date | ||
Full-year 2016 results | Tuesday |
||
First-quarter 2017 sales | Tuesday |
||
Half-year 2017 sales | Tuesday |
||
Half-year 2017 results | Tuesday |
About
Founded in 1989,
- 32,688 beds in
France at 352 facilities (2,993 beds under refurbishment or construction); - 41,584 beds in the rest of
Europe (Germany ,Austria ,Belgium ,Spain ,Italy ,Czech Republic ,Poland andSwitzerland ) at 381 facilities (6,048 beds under refurbishment or construction).
1 Organic growth reflects the following factors: 1. The year-on-year change in the revenues of existing facilities as a result of changes in their occupancy rates and daily rates; 2. The year-on-year change in the revenues of redeveloped facilities or those where capacity has been increased in the current or year-earlier period; 3. Revenues generated in the current period by facilities created in the current or year-earlier period, and the change in revenues at recently acquired facilities by comparison with the previous equivalent period.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170207006196/en/
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