IASO Group - Steadily profitable
The half year results of the company and IASO Group were published and the key figures are the following:
|
|
Parent Company |
Group |
|
Sales |
€ 33,33 mil. |
€ 62,76 mil. |
|
EBITDA |
€ 7,86 mil. |
€ 9,67 mil. |
|
Earnings before Taxes |
€ 1,90 mil. |
€ 0,07 mil. |
|
Earnings after Taxes |
€ 1,41 mil. |
€ -0,90 mil. |
Regarding the half year financial statements, Dr Georgios Stamatiou Chairman of the BOD, commented the following:
“In spite of the adverse conditions of the Greek economy as well as the important changes that took place in the healthcare sector during the first half of 2012, the maintenance of IASO Group's steady profitability during 2012 is a fact that considerably satisfies us.
During the 1st half of 2012, IASO Group entered into an agreement with the new national healthcare organization (EOPYY) as well as with insurance companies, which created new challenges for all of us and demanded significant investments for the reorganization of our services. Our employees as well as our physicians have successfully responded as it is revealed by the increase of inpatients by 7,5%.
It should be pointed out that at the first half of 2012 there has been an amelioration of the Group's gross profit, with an increase of 2% presented in gross profit margin, while the parent company's figure remained at the same level of the first half of 2011, which still is one of the sector's higher.
A special reference should be made to the increased financial expenses that burdened the group's results by €2,77 mil and the company's by €2,42mil, due to the group's reorganization of borrowings. The new bank agreement for a ten year settlement will improve cash liquidity and will ensure the adequate financing of our companies.
We estimate that the next few months the ongoing crisis will be more severe and for this reason we concentrate our efforts on a revenue level through new collaborations with insurance companies and services' reorganization as well as on further balanced operational costs.
We are convinced that with the coordinated efforts of all the people of IASO, IASO Group will continue its steadily profitable way reducing as much as possible the crisis' consequences.
The Half Year Statements of 2012 are available at the sites of Athens Exchange (www.ase.gr) and IASO (www.iaso.gr).