Clariane SE (LTS:0OPS)

€ 1.9185 -0.0955 (-4.74%) Market Cap: 674.05 Mil Enterprise Value: 8.53 Bil PE Ratio: 0 PB Ratio: 0.13 GF Score: 66/100

Q3 2024 Clariane SE Earnings Call Transcript

Oct 24, 2024 / 02:00PM GMT

Release Date Price: €1.64 (+1.05%)

Transcript

Key Points

Positve

Clariane SE (FRA:KO2) achieved a dynamic revenue growth of 6.3% on an organic basis over the first nine months of 2024.
The average occupancy rate in care homes increased by close to 2 percentage points, indicating a return to normalcy.
The company confirmed its 2024 guidance of organic revenue growth over 5% and stable EBITDA, excluding IFRS 16 and disposals.
Clariane SE has secured 48% of its EUR1 billion disposal program target, showing progress in strengthening its balance sheet.
Revenue growth was well-balanced, driven by both volume and price increases, with a notable 4% revenue increase from price management.

Negative

The absence of contribution from real estate development activities in 2024, which generated EUR50 million in 2023, could impact financial performance.
A slight negative impact from changes in scope resulted in a 0.9% reduction in total revenue, amounting to a EUR33 million decrease.
The occupancy rate in the Netherlands decreased due to new beds coming on stream, reflecting challenges in maintaining high occupancy levels.
The company faces uncertainties regarding the impact of the 2025 PLFSS on its activities, particularly in terms of subsidies and pricing.
Clariane SE anticipates a 10% wage increase in Germany, which could pressure margins despite being pre-negotiated in rates.

Operator

Good day, and welcome to today's Clariane Q3 2024 revenue conference call. Throughout today's recorded presentation hosted by Sophie Boissard, CEO; and Gregory Lovichi, CFO. (Operator Instructions)

And now, I'd like to hand the call over to Sophie Boissard, CEO. Please go ahead, ma'am.

Sophie Boissard

Clariane SE - Chief Executive Officer, Director, Member of the Management Board

Thank you very much. Ladies and gentlemen, dear investors, good afternoon. Welcome to the Clariane Group Third Quarter 2024 Presentation. I am Sophie Boissard, Group CEO, and I'm today with Gregory Lovichi. Gregory joined Clariane a little over a month ago as Chief Financial Officer and member of the Group Management Board, and I'm delighted to welcome him to Clariane.

Let us begin on slide 5 with the 4 key highlights of the quarter. Over the first nine months of 2024, Clariane recorded dynamic revenue growth of 6.3% on an organic basis. All business segments and regions saw growth and the average occupancy rate in care homes, which remains our main segment of

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