Group turnover increased by 18%.
Group Earnings After Taxes & Minorities Interests increased by 52.2%.
IASO General 2007 EBITDA posted an increase of 379.8%.
The positive growth of MedStem continues with an increase in, turnover of 43.7% and in earnings after taxes of 47.1%.
The IASO group turnover for the fiscal year 2007 reached the amount of euro 169.8 mil. showing an increase of 18%. The consolidated EBITDA reached the amount of euro 44.7 mil. presenting an increase of 32.1%, while the EBITDA margin increased by 281 basis points compared with the same period last year. Earnings Before Taxes amounted to euro33.5 mil. presenting an increase of 38.5%, while Earnings After Taxes & Minorities Interests reached the amount of euro20.4 mil. posting an increase of 52.2%.
More specifically:
IASO S.A.: Constant increase of parent company Results.
The company revenues reached the amount of euro 101.0 mil. posting an increase of 13.8% compared with the same period last year. The revenue increase is attributed to the following: (i) the increase of inpatients and outpatients patients by 4.6% and 8.8% respectively and (ii) the increase of the average revenue per patient by 4.9%. Earnings Before Interest, Taxes, Depreciation & Amortization (EBITDA) were recorded at euro36.9 mil. presenting an increase of 16.8%, while the EBITDA margin reached the level of 36.52% posting an increase of 94 basis points compared with the same period last year. Net profits after tax and minorities interests were recorded at euro21.9 mil. posting an increase of 8.5%. The lag between net profits and EBITDA is explained by (i) the increase in financial expenses by euro1.23 mil. (+177%) and (ii) the additional taxes and penalties of euro1.58 mil. that were imposed by the Tax Audit Authorities, on the company for the fiscal years 2003 through to 2005. The company's Bank Net Debt (Bank Debt minus Cash & Cash equivalents) at the end of fiscal year 2007 reached the amount of euro46.5 mil. vs euro 4.7 mil. at the end of f.y. 2006.
IASO General S.A.: Significant increase in Earnings Before Interest, Taxes, Depreciation & Amortization (EBITDA) (+379,8%).
Iaso General revenues were recorded at euro 64.5 mil. presenting an increase of +23.5% vs. last year's figures. The increase in the revenues is attributed to the increase in, IN and Outpatients' by 23.5% and 29.8% respectively. Earnings Before Interest, Taxes, Depreciation & Amortization (EBITDA) were recorded at euro6.92 mil. being 4.8 times higher compared with the same period of the previous year. Furthermore the EBITDA margin reached the level of 10.7% posting an increase of 797 basis points compared with the same period last year. Pre-tax profits reached euro0.11 mil. vs losses euro5.15 mil. in Fiscal Year 2006. As far as Loss After Taxes is concerned, the picture is also improved showing a decrease in Losses by euro 5.30 mil, showing Losses of euro 2,36 (due to deferred taxation and tax audit) vs Losses of euro7.66 mil. of the previous year.
MedStem Services S.A.: The positive growth continues.
MedStem revenues recorded an increase of 43.7%, compared with the same period last year, reaching the amount of euro4.6 mil. The revenue increase is mainly attributed to the increase of the stored stem cell units by 44.3% this is a fact showing the ever growing recognition of the need to store the stem cells and the acceptance of this method by the new couples. The Earnings before Interest, Taxes, Depreciation & Amortization reached the amount of euro1.37 mil. posting an increase of 29.6%. Earnings After Taxes reached the amount of euro0.98 mil. presenting an increase of 47.1%.
The annual financial statements of the fiscal year 2007 will be published on Friday March 28th 2008, in the daily press as well as at the sites of Athens Exchange (www.ase.gr) and IASO (www.iaso.gr).