Global Health Partner AB

Interim report January-September 2014: Positive EBITDA for third quarter despite holiday period

Regulatory News:

-- 8 percent organic growth

-- Adjusted EBITA has more than doubled during the first nine months of the year

-- 57 percent of GHP’s revenues so far during 2014 stem from other sources of revenue than Swedish County Councils

Third quarter 2014

-- Sales revenues amounted to SEK 150.2 million (139.7) and organic growth to 8 percent (8)

-- EBITDA amounted to SEK 1.2 million (-1.1)

-- EBITDA margin amounted to 0.8 percent (-0.8)

-- Result after tax (EAT) was SEK -6.9 million (-12.0)

-- Result per share was SEK -0.11 (-0.20)

January - September 2014

-- Sales revenues amounted to SEK 557.7 million (529.3) and organic growth to 5 percent (7)

-- EBITDA amounted to SEK 42.3 million (41.2, adjusted 31.7)

-- EBITDA margin amounted to 7.6 percent (adjusted 6.0)

-- Result after tax (EAT) was SEK 15.2 million (8.1)

-- Result per share was SEK 0.16 (0.05)

The CEO’s comments

Continuing good demand and an efficient organisation are maintaining the improvement in results that we have seen during the past quarters. The third quarter is a challenge as the demand for specialist care goes down during the holiday period and the surgical wards at our clinics are closed for the summer holidays. We are therefore pleased to be able to deliver a positive EBITDA for Q3, something which we have not done for a long time.

The work in our areas of focus - growth, profitability in existing clinics and GHP’s identity – is continuing. In the growth area we have several exciting projects and we hope that one or two of them will come to fruition during the coming six months. During Q3 we opened our new doctors’ office at Garnisonen in Stockholm. Stockholm Spine Center and Ortho Center Stockholm will be able to grow their business there in 35 new doctors’ offices. Together with the new free choice of care for rehab, this is an opportunity for Stockholm Spine Center to increase the range of treatments offered by also being able to take care of the very severest back cases that we cannot treat through surgery.