Half Year 2024 Clariane SE Earnings Call Transcript
Key Points
- Clariane SE (STU:KO2) reported a dynamic revenue growth of 6.8% in organic terms for the first half of 2024, supported by all businesses and regions.
- EBITDA post IFRS 16 increased by 7.5%, reflecting a solid operational performance.
- The company made significant progress in reducing its net debt by EUR 500 million, improving the financial leverage ratio from 4.8 times to 3.6 times.
- Clariane SE achieved the top employer Europe certification, becoming the first care company to receive such recognition.
- The company secured more than 40% of the gross proceeds expected from its EUR 1 billion asset disposal program, indicating progress in its strategic roadmap.
- Net profit group share was a loss of EUR 28 million, including a loss on the disposal of the serviced residence business in France.
- The group result from continuing operations was a loss of EUR 3 million, close to breakeven.
- EBITDA margin, excluding real estate development activities, showed a reduction due to decreased contributions from these activities.
- The company faced a EUR 17 million increase in amortization and a EUR 33 million increase in net financial expenses, impacting profitability.
- The occupancy rate improvement in long-term care was offset by regulatory changes affecting medical care in France.
Hello, and welcome to the Clariane 2024 half year results conference call. Please note, this conference is being recorded. (Operator Instructions)
I will now hand you over to your host, Sophie Boissard, CEO and Philippe Garin, CFO, to begin today's conference. Thank you.
Thank you, ladies and gentlemen, dear investors, good afternoon. Welcome to the Clariane Group 2024 half year results presentation. I suggest we now move to slide number one. So I'm Sophie Boissard, the group CEO, and I am today with Philippe Garin, Group CFO. I will begin on slide 5 with the four key highlights of this half. Firstly, over the first six months of 2024, we recorded dynamic revenue growth that led to an increase in EBITDA. This was in part fueled by the strong improvement in German performance.
Thirdly, we also moved forward on strengthening our balance sheet in line with our refinancing plan, making significant progress on reducing our debt during the period. Last but not least, we confirmed our 2024 full year outlook and
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