- Sustained organic growth of +4.7%
2020: another year of excellent
growth
- Secured revenue of €4,040 million (+8% vs 2019)
Regulatory News:
The ORPEA Group (Paris:ORP), a world leader in long-term care
(nursing homes, post-acute and rehabilitation hospitals,
psychiatric hospitals, and home care services), today announces its
revenue for the 2019 financial year ended on 31 December.
In €m
Full-year
Quarterly
2019
2018
Change
Q4 2019
Q4 2018
Change
France Benelux
2,217.4
2,040.9
+8.7%
567.7
516.2
+10.0%
Central Europe
961.5
873.9
+10.0%
242.7
223.5
+8.6%
Eastern Europe
359.7
335.0
+7.4%
92.3
86.4
+6.8%
Iberian Peninsula and Latam
198.4
167.7
+18.3%
52.5
47.2
+11.3%
Other country
3.1
2.4
33.0%
0.8
0.8
5.7%
Total revenue
3,740.1
3,419.8
+9.4%
956.0
874.0
+9.4%
Including organic growth1
+4.7%
+4.7%
Consolidation dates: Axion in Germany, September and Allerzorg
in the Netherlands were consolidated since 1 January 2019; SIS
Brazil and SIS Portugal were consolidated since 1 October 2019.
Clusters’ composition: - France
Benelux: France, Belgium, Netherlands - Central Europe: Germany,
Italy, Switzerland - Eastern Europe: Austria, Poland, Czech
Republic - Iberian Peninsula and Latam: Spain, Portugal, Brazil and
Uruguay - Other country: China
1 Organic growth of Group revenue includes: 1. the year-on-year
change in the revenue of existing facilities as a result of changes
in their occupancy rates and per diem rates; 2. the year-on-year
change in the revenue of redeveloped facilities or those where
capacity has been increased in the current or year-earlier period;
3. revenue generated in the current period by facilities created
during the year or year-earlier period, and the change in revenue
of recently acquired facilities by comparison with the previous
equivalent period.[1] Organic growth reflects the following
factors: 1. The year-on-year change in revenues of existing
facilities as a result of changes in their occupancy rates and
daily rates; 2. The year-on-year change in revenue of redeveloped
facilities or those where capacity has been increased during the
year or a year earlier; 3. Revenue generated in the current period
by facilities created during the year or a year earlier, and the
change in revenue of recently acquired facilities by comparison
with the previous equivalent period.
2019 revenue of €3.74 billion, better
than the initially-announced target
Revenue for 2019 reached €3,740 million, higher than the
initially-announced target of €3,700 million and representing a
strong growth of +9.4% or €320 million in additional revenue.
This improvement, as in previous years, was the result of an
equal combination of the Group’s two growth drivers:
- selective acquisitions, such as that of Axion (the German
premium nursing homes specialist), September and Allerzorg (present
in nursing homes and home care in the Netherlands), as well as
several independent facilities in France, Spain, Italy and
others;
- very strong organic growth of +4.7%, driven by the first-class
performance of mature facilities, the ramp-up in facilities
established over the past two years and the opening of 1,850 new
beds (through new builds) during the year. All geographical regions
enjoyed a sustained organic growth.
This revenue growth will be coupled with solid
profitability.
2020: step-up in openings (3,000 new
beds) and in job creation
In 2020, ORPEA will open 3,000 beds, i.e., approximately thirty
new facilities and extensions of existing facilities. This step-up
in openings (+62% vs 2019) is driven by the Group’s
internationalisation, which allows it to increase creation
opportunities. In line with the strategy of ORPEA, 85% of these new
facilities will be located outside France, in around ten countries,
in areas with high purchasing power.
An active recruitment policy will continue to support this
growth. More than 2,500 jobs will be created across all countries
in which ORPEA is present and in all professions (medical staff,
carers, hotel staff, as well as support functions at the various
head offices).
Training and internal promotion remain a priority in human
resources policy and provide Group employees with excellent career
prospects.
Outlook for 2020: secured revenue of
€4,040 million (+8%)
The contribution of the announced acquisitions, coupled with a
strong organic growth, allows ORPEA to be confident in announcing
already secured revenue of €4,040 million for 2020 (+8% vs 2019).
The Group will continue to develop its growth pipeline and consider
acquisition-led growth opportunities both in countries where it is
already present and in new countries, with a view to pursuing its
growth momentum.
Yves Le Masne, Chief Executive Officer
of ORPEA, commented:
“In only three years, the Group’s revenue has grown by close to
€1 billion, of which more than 50% is through organic growth. This
performance is due to the Group’s long-term strategy which is
focused on upscaling its network as well as selective internal and
external growth opportunities.
Thanks to already completed external developments and excellent
visibility on its organic growth, ORPEA is already in a position to
announce secured growth of +8% for 2020, i.e., revenue of €4,040
million.
Of course, the Group will pursue its development to reinforce
its current position as a global player, by continuing to expand
its geographic presence, but also by strengthening its corporate
social responsibility.”
Financial schedule for
2020
The following dates can be subject to change. Press releases
will be published after market close.
Event
Date
Full-year 2019 results
Tuesday 17 March 2020
First-quarter 2020 sales
Tuesday 5 May 2020
Half-year 2020 sales
Tuesday 21 July 2020
Half-year 2020 results
Tuesday 22 September 2020
Third-quarter 2020 sales
Tuesday 3 November 2020
About ORPEA (www.orpea-corp.com)
Founded in 1989, ORPEA is one of the major world leaders in
long-term care, with a network of 951 facilities comprising 96,677
beds (17,388 of which are under construction) across 16 countries,
which are divided into five clusters:
- France Benelux: 484 facilities/42,625 beds (of which 4,514 are
under construction)
- Central Europe: 238 facilities/25,419 beds (of which 4,389 are
under construction)
- Eastern Europe: 125 facilities/12,917 beds (of which 2,817 are
under construction)
- Iberian Peninsula/Latin America: 103 facilities/15,576 beds
(of which 5,668 are under construction)
- Rest of the world: 1 facility/140 beds
ORPEA is listed on Euronext Paris (ISIN code: FR0000184798) and
a constituent of the SBF 120, STOXX 600 Europe, MSCI Small Cap
Europe and CAC Mid 60 indices.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200211005873/en/
Investor Relations ORPEA Steve Grobet Investor
Relations Director s.grobet@orpea.net
Hélène de Watteville Investor Relations Officer
h.dewatteville@orpea.net
Investor Relations NewCap Dusan Oresansky Tel.:
+33 (0)1 44 71 94 94 orpea@newcap.eu
Media Relations Image 7 Laurence Heilbronn Tel.:
+33 (0)1 53 70 74 64 lheilbronn@image7.fr
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