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ORPEA — Earnings Release 2010
Jul 21, 2010
1578_iss_2010-07-21_09a953a2-c234-4d1f-b9e8-7292476274fe.pdf
Earnings Release
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FURTHER SOLID AND DYNAMIC GROWTH IN H1 2010
H1 2010 SALES: +16.3% TO €470 MILLION
2010, 2011 AND 2012 SALES TARGETS REAFFIRMED
Puteaux, 21st July 2010
ORPEA, a leading player in Long-Term Care (nursing homes), Post-Acute Care and Psychiatric Care, today announced its consolidated sales for the first half of 2010 to 30 June.
| In €m IFRS |
Quarterly | Half year | ||||
|---|---|---|---|---|---|---|
| Q2 2010 | Q2 2009 | Δ | H1 2010 | H1 2009 | Δ | |
| France | 209.7 | 179.4 | +16.8% | 413.0 | 352.4 | +17.2% |
| % of total sales | 88% | 88% | 88% | 87% | ||
| International | 29.5 | 25.8 | +14.0% | 57.0 | 51.8 | +10.1% |
| % of total sales | 12% | 12% | 12% | 13% | ||
| Belgium | 15.1 | 11.9 | 28.5 | 23.8 | ||
| Spain | 7.4 | 7.0 | 14.7 | 14.0 | ||
| Italy* | 4.3 | 4.5 | 8.5 | 9.3 | ||
| Switzerland | 2.7 | 2.4 | 5.3 | 4.8 | ||
| Total sales | 239.1 | 205.3 | +16.5% | 470.0 | 404.2 | +16.3% |
| Organic growth | +9.1% | +9.3% |
* Taking into account the divestment of a facility in Italy in 2009
Yves Le Masne, Deputy CEO, comments: "The buoyant growth in activity recorded over the first half of 2010 yet again confirms that ORPEA's development plan is perfectly respected, and thus remains independent of the economic and financial context.
This remarkable buoyant growth momentum, which has been continuous since the 2002 IPO, is the result of the combination of solid and lasting organic growth and controlled external growth based on the creation of value.
Thanks to its teams' know-how, ORPEA provides a modern quality offer that is perfectly adapted to evolutions in the requirements of dependent people, thus enabling it to maintain high occupancy rates in its mature facilities and to develop substantial appeal for its new facilities.
Over the second half of this year, numerous openings are planned, including one of the Group's flagship facilities, the long-term care facility for elderly dependent people in the Paris town of Neuilly-sur-Seine (135 beds), within an exceptional setting on the banks of the Seine opposite Jatte island.
Following this excellent first half, ORPEA is thus confidently reaffirming its sales guidance for the current financial year, as well as for 2011 and 2012, of €960m, €1,100m and €1,225m respectively.
With almost 9,000 beds currently under construction and being renovated, 2010 and following years will reflect the solidity and efficiency of ORPEA's model with a robust profitability accompanied by a regular increase in cash flow."
Next press release: H1 2010 results Wednesday 15th September 2010, before market
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
Investor Relations:
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