Medica maintains its margins in the first half
September 7, 2010 – 4:05 amMedica announced Tuesday a maintaining margins and a halving of its net financial debt in the first half, following the redevelopment of its funding.
The group of nursing homes, introduced in Exchange in February, has reduced its net debt to 374.4 million euros at June 30 against 748.6 million in late December 2009.
On the occasion of its IPO, Medica has converted all of its bonds into shares.During the semester, the group has also repaid the balance of his debt syndication and, concomitantly, has introduced new lines of financing.
The group increased its EBITDA excluding property (EBITDAR) of 11.2% to 66.8 million euros in the first half, with a margin of 25.8%, up 0.1 percentage points.
The pole EHPAD France (residential homes for frail elderly), which provides nearly two-thirds of its total turnover in the first half shows a return of 26.0% – down 0.2 points – The largest group, despite the openings of schools in 2009 and 2010 from its pole EHPAD France.
These openings have drawn the organic growth of the division, which reached 8.8% during the period, against 6.1% for the whole group, with total revenues published in July reached 259.1 million on period.
The group reconfirmed anticipate an increase of at least 10% of its turnover in 2010 and a cumulative increase of its activity by 45% over the period 2010-2012.
Introduced in stock to 13 euros, below the indicative range, Medica closed Monday at 14.34 euros on the Paris Bourse.
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