The hospital group Rede D’Or is engaged in negotiations for the acquisition of more assets, after having accumulated purchases of shares in 17 medical centers in the country since the end of 2020, which added about 2,200 beds to its base.
The company announced last Thursday night (12) a 44% drop in net income for the first quarter, affected, among other reasons, by the wave of the Covid-19 Omicron variant.
The company’s shares even retreated earlier this Friday (13), but at 1:41 pm (Brasilia time) showed a high of 0.9%, while the index had advance of 1.8%.
“With the market trading at lower multiples, we will continue to look at assets from a perspective of return, of access to markets that interest us”, said the executive president of Rede D’Or, Paulo Junqueira Moll, in a conference with analysts.
“We have a series of ongoing conversations and it is difficult to talk about a budget for this. We remain quite optimistic that we will be able to deliver on the expectation of 5,000 beds in five years,” she added.
Rede D’Or ended the first quarter with leverage measured by the ratio of net debt to Ebitda of 2.9 times, above the level of 2.5 times a year earlier and close to the level of up to three times that the CFO, Otávio Lazcano, stated that the company considers it appropriate.
“Once the merger of SulAmérica is concluded, the expanded company will benefit from SulAmérica’s net cash position and there are other opportunities for optimizing the capital structure that will be explored,” said Lazcano.
According to him, Rede D’Or’s financial planning, which includes funds from the IPO at the end of 2020, follow-on and the company’s own cash, predicts that leverage should drop to “something close to 1.5x at the end of 2025.” ”.
Moll stated that Rede D’Or’s biggest opportunity for margin gains in the coming quarters, despite high inflation, is in materials and medicines.
According to him, the company will be able to return in 2022 to the cost level of 2019 “or lower” than that in relation to revenue.
Source: CNN Brasil
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