HYGEIA GROUP – Q1 2012 Results
Press Release
“HYGEIA GROUP – Q1 2012 Results”
Ø The positive results vindicate the Group's restructuring.
Ø The parent Company presents significant operating profits amounting to €6.8 m., achieving a respectively high EBITDA margin of 18.7% .
Ø Hygeia Group consolidated EBITDA presents profits amounting to €5.8 m.
Ø Parent company results after taxes post profits of €2.3 m.
The Company "Diagnostic and Therapeutical Center of Athens HYGEIA S.A.” (hereinafter HYGEIA) announced its interim Financial Statements for the 1Q 2012 in accordance with the International Financial Reporting Standards (IFRS).
REVENUES: Consolidated revenues stood, in the first quarter of 2012, at €64.2 m., as compared to € 64.8 m. the respective last year's period. HYGEIA revenues stood at €36.5 compared to €37.8 m. in the first quarter of 2011.
EARNINGS BEFORE INTEREST, TAXES, DEPRECIATIONS & AMORTIZATIONS (EBITDA): Consolidated earnings before interest, taxes, depreciations and amortizations (EBITDA) increased by 112% and stood at €5.8 m. compared to profits of €2.7 m. in the respective 2011 period. Earnings before interest, taxes, depreciations and amortizations (EBITDA) of HYGEIA stood at €6.8 m. compared to profits of €5.8 m. in the respective last year's period.
PROFITS (LOSSES) BEFORE TAX: In 1Q 2012, HYGEIA Group losses before tax dropped to €2.5 m., as compared to losses of €5.4 m. in the respective 2011 period. HYGEIA exhibited profits before tax of €3.0 m. as compared to €1.6 m. in the respective last year's period.
NET EARNINGS (LOSSES) AFTER TAX AND MINORITIES: In the first quarter of 2012, Group losses after tax and minorities rights from continued activities dropped to €2.3 m. compared to losses of €5.2 m. in the respective last year's period. At company level, HYGEIA increased its earnings after tax to €2.3 m. as compared to profits of €1.0 m. in the respective last year's period.
Commenting on the results, HYGEIA's Group CEO, Mrs. Rita Souvatzoglou, made the following statement:
“Confronted with the most severe financial crisis in the modern history of our country, in the first quarter of 2012, both the HYGEIA hospital and the Group exhibited strong operating profitability, confirming the soundness of our strategic planning.
Under the prevailing economic conditions, the Group's Administration, with the ultimate aim to safeguard shareholders' long-term interests, the Group's sound development and the preservation of its leading position, continues taking initiatives for optimizing its costing structure, improves its financial standing, boosts its competitiveness by maintaining job potential and constantly enhancing the level of its healthcare service.
HYGEIA Group personnel and physicians serve with consistency the ultimate good of HEALTH with a deep sense of responsibility towards our fellow beings and patients while continuing in practice our social work with respect and sensitivity to our fellow beings and the society.
“MARFIN INVESTMENT GROUP”, the largest entrepreneurial group in Greece, continues providing assistance to the attainment of our objective.
Please find below a table with the Key P&L Figures for the Group and the Company:
|
Group |
|
|
|
in EUR millions |
Q1 2012 |
Q1 2011 |
|
Revenues |
64.2 |
64.8 |
|
EBITDA |
5.8 |
2.7 |
|
Earnings (Losses) Before Tax |
(2.5) |
(5.4) |
|
Net Income (Losses) |
(2.3) |
(5.2) |
|
|
|
|
|
Parent |
|
|
|
in EUR millions |
Q1 2012 |
Q1 2011 |
|
Revenues |
36.5 |
37.8 |
|
EBITDA |
6.8 |
5.8 |
|
Earnings Before Tax |
3.0 |
1.6 |
|
Net Income |
2.3 |
1.0 |
Detailed financial and other information is available on the Group's website: www.hygeia.gr.