Korian

Revenue up 8.4% in Q3 2019 - Seite 2

Overall, the number of beds operated grew by 4,042 in the first nine months, bringing the total number of beds at 30 September 2019 to 82,189 beds in 867 facilities.

Outlook

Based on these performances during the first nine months, Korian is confident it will achieve the objectives announced for financial year 2019, i.e. revenue growth above or equal to 8% and an operating margin above or equal to 14.5%.

Furthermore, at its Capital Markets Day on 20^th September, the Group clarified the following objectives for 2021:

- Target operating free cash flow increased to €300 million (vs. €225 million under the K-2020 plan) ;

- Target average revenue growth over 8% (vs. 5% under the K-2020 plan) with over 14,000 new beds in the pipeline ;

- Target EBITDA margin to be above 15.5% (vs. approx. 14.5% under the K-2020 plan), on the basis of a property ownership rate of around 25% ;

- Strong financial structure with the restated debt ratio maintained below 3.5x and a LTV⁴ of the real estate portfolio around 50%.

The Group also reaffirmed the ambition that has been at the core of Korian’s strategic project for the last three years: building an integrated care and services offer in Europe to meet the challenges of longevity and related issues, which provides quality support and takes into account the diversity of situations at the level of living areas.
To support this transformation and create a bedrock for long term trust with its employees, customers and stakeholders, Korian has launched the “In Caring Hands” corporate project, which is based on the twin requirements of excellence and innovation, in line with its values.

Next publications:
2019 full-year revenue and results: 27 February 2020
Q1 2020 revenue: 22 April 2020

Next events:
French Society of Financial Analysts (SFAF) meeting in Paris on 28 February 2020
to present full-year results
General Meeting of shareholders on 28 May 2020

ABOUT KORIAN

Korian, an expert in care and support services for the elderly, manages Europe’s leading network of long-term care nursing homes, specialised clinics, assisted living facilities and shared housing for seniors, home care and hospital home care services.

For more information, please visit our website: www.korian.com

Korian has been listed on Euronext Paris Section A since November 2006 and is included in the following indices: SBF 120, CAC Health Care, CAC Mid 60, CAC Mid & Small and MSCI Global Small Cap