Orpea: Q1 revenues up 7.8%
(CercleFinance.com) - Nursing home operator's revenues reached 980.
9 million euros in the first quarter of 2020, up 7.8%.
This increase is 50% thanks to solid organic growth of 3.9% and 50% thanks to the contribution made by acquisitions, particularly in Ireland, Portugal and Latin America.
The Covid-19 pandemic began to impact business in the last 10 days of the first quarter, which of course is continuing into the second quarter.
The company said that since 17 March, when the group published its 2019 results, the Covid-19 pandemic has accelerated considerably, impacting the group's activity in certain regions. This is why Orpea has decided to temporarily suspend its financial targets for 2020. However, it remains confident over the medium and long term.
Orpea's financial capacity now stands at close to one billion euros, thanks to its cash flow and available credit lines.
Copyright (c) 2020 CercleFinance.com. All rights reserved.