Athens Medical Center: 96% increase in the group’s EBITDA in the nine months

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Despite the continuing spread of the Covid-19 pandemic resulting in global uncertainty and the adoption of exceptional restrictive measures, the financial results of the Athens Medical Group in the first nine months of 2021 were particularly positive, significantly higher than in the first nine months of 2020 and reflect the positive prospects of the Group in the short and long term.

In particular, during the 3rd quarter of the year (1 / 7-30 / 9/2021) the turnover of the Group, after rebate & clawback, amounted to 54,842 thousand euros, compared to 49,456 thousand euros for the corresponding period of 2020 ( increase of 10.9%), EBITDA amounted to 8,315 thousand euros compared to 5,423 thousand euros in 2020 (increase of 53.3%) and EBIT amounted to 4,994 thousand euros compared to 3,158 thousand euros of 2020 (increase of 58.1 %).

Respectively for the Company the Turnover after rebate & clawback amounted to 53,644 thousand euros, compared to 48,451 thousand euros for the corresponding period of 2020 (increase of 10.7%), EBITDA amounted to 7,198 thousand euros against 4,354 thousand. 2020 (increase of 65.3%) and EBIT amounted to 4,040 thousand euros compared to 2,192 thousand euros of 2020 (increase of 84.3%).

The figures for the 3rd quarter confirm the Management’s assessment that in the long run the fundamental figures of the Group remain positive.

In total, for the period from 1 / 1- 30/9/2021, the Turnover of the Group, after rebate & clawback, amounted to 169.448 thousand euros, compared to 139.714 thousand euros for the corresponding period of 2020 (increase 21, 3%), EBITDA amounted to 27,403 thousand euros compared to 13,981 thousand euros in 2020 (increase 96%) and EBIT amounted to 17,677 thousand euros compared to 5,697 thousand euros in 2020 (increase 210.3%).

Respectively for the Company the Turnover after rebate & clawback, amounted to 165,930 thousand euros, compared to 136,541 thousand euros for the corresponding period of 2020 (increase of 21.5%), EBITDA amounted to 24,222 thousand euros against 11,243 thousand 2020 euros (increase of 115.4%) and EBIT amounted to 14,965 thousand euros compared to 3,288 thousand euros of 2020 (increase of 355.1%).

In relation to the borrowing position of the Group, the disbursement of the new Common, secured, long-term Bond Loan, amounting to € 100,290 thousand, has been completed, with the aim of total refinancing of the existing Syndicated Bond Loans as well as short-term loans.

The net loan position of the Group and the Company on 30.09.2021 amounted to 111,338 thousand euros and 108,607 thousand euros from 112,198 thousand euros and 109,364 thousand euros in the corresponding comparative period.

Finally, the Management of the Group estimates that despite the difficulties and the significant increase in energy costs, which is expected to have little impact on the operation of the company in the last quarter of 2021, in the 4th quarter of 2021 the turnover and profitability both at Group and Company level will remain increased compared to the 4th quarter of 2020.

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Source From: Capital

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