Earnings Release • May 5, 2010
Earnings Release
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ORPEA, a leading player in Long-Term Care (nursing homes), Post-Acute Care and Psychiatric Care, today announced its sales for the first quarter of 2010 to 31st March.
| In €m IFRS |
Q1 2010 | Q1 2009 | ∆ |
|---|---|---|---|
| France | 203.6 | 173.0 | +17.7% |
| % of total sales | 88% | 87% | |
| International | 27.6 | 26.0 | +6.1% |
| % of total sales | 12% | 13% | |
| Belgium | 13.3 | 11.9 | |
| Spain | 7.4 | 6.9 | |
| Italy | 4.3 | 4.8 | |
| Switzerland | 2.6 | 2.4 | |
| Total sales | 231.2 | 199.0 | +16.2% |
| Organic growth | +9.6% |
Yves Le Masne, Deputy Chief Executive Officer, commented: ""Over the first quarter of 2010, ORPEA again recorded buoyant growth in activity, both in France and abroad. Organic growth remained extremely solid at almost +10%, despite the relative lack of openings over the first quarter. This significant growth, which has continued for the last decade, is the result of the substantial appeal of ORPEA's facilities because of the quality of service and care provided and of its new or recent buildings that are located in the heart of major urban areas.
Overseas activity recorded another strong performance with substantial organic growth, again showing the perfect suitability of ORPEA's offer that consists in caring for highly-dependent people. ORPEA thus meets a non-delayable structural need that guarantees durability of its development.
These excellent performances confirm the substantial potential of ORPEA's international network at a time when over 50% of beds are still being renovated or constructed.
Benefiting from visibility never seen before, with its reservoir of close to 9,000 beds ensuring solid organic growth for at least the next four years, and with a financing capacity that remains intact in order to carry out value-creating acquisitions, ORPEA is particularly confident that it will meet its targets of recording sales of €960 million over the current financial year, within a context of profitability that remains as high as ever, with further improvements in the Group's debt ratios and an increase in cash flow."
About ORPEA (www.orpea.com): Listed on Euronext Paris since April 2002 and recently promoted to the Deferred Settlement Service, the ORPEA group is a leading player in the Long-Term Care and Post-Acute Care sectors. As of March 2010, the Group has a unique European network of healthcare facilities with 28,073 beds (22,556 of them operational) across 300 sites, including:
22,892 beds in France: 18,351 operational (including 2,854 being renovated + 4,541 under construction), spread across 252 sites;
5,181 beds elsewhere in Europe (Spain, Belgium, Italy and Switzerland): 4,205 operational (including 508 being renovated) + 976 under construction, spread across 48 sites.
Listed on Euronext Paris Compartment A of NYSE Euronext Member of the SBF 120 index and SRD ISIN: FR0000184798- Reuters: ORP.PA - Bloomberg: ORP FP
NewCap. ORPEA Emmanuel Huynh / Steve Grobet Yves Le Masne Tel: +33 (0)1 44 71 94 94 Deputy CEO [email protected] Tel: +33 (0)1 47 75 78 07
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