emeis: 9m sales up 8.3%

(CercleFinance.com) - emeis (formerly Orpéa) reports sales of E4173m for the first nine months of the year, up +8.
3% (+E321m) and +8.2% on an organic basis, y-o-y. NB: stock closed up 5% yesterday.

Over the same period, the Retirement Homes business grew by 10.5% on an organic basis, while the Clinics business grew by 4.2%.

emeis says that these figures reflect the gradual turnaround in business following the measures taken over the past 18 months.

The occupancy rate has risen by an average of +2.6pts: 85.6% at end-September 2024 vs. 83.0% at end-September 2023.

The group now aims to complete the disposal of operating and real estate assets worth E1.5bn between mid-2022 and end-2025, in order to further reduce its debt. This means that E800m of disposals are due to be completed by the end of 2025.

Against this background, emeis confirms its outlook: for 2024, EBITDAR is expected to rise by 0% to +5%, i.e. between E700m and E730m.


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