- Revenues climbed to €304 million, up by 11.7% compared with 2012 and boosted by 95% occupancy rates across all of the group's mature facilities
- The international business confirmed its status as a focus for growth, with an increase of 31.2%
Two important developments marked the roll-out of the new corporate initiative, KORIAN FIRST, during the first quarter:
- Supporting the initiative's development driver: the takeover of Curanum has now been finalised and was incorporated into Korian's accounts as of 1 March 2013. In the last six months, the Group has also opened four facilities in France and one in Germany, representing a total of 523 beds.
- Supporting the initiative's performance driver:In France, Korian confirms a renewed focus on its most strategic assets, nursing homes and follow-up care and rehabilitation facilities further to signature of the transfer agreement for the psychiatry division, on 30 April 2013. Subject to specific preconditions, the transfer is expected to complete by the end of the first half of 2013.
Regulatory News:
Yann Coléou, CEO of Korian (Paris:KORI), commented:
"Korian marked the start of the year with new drive, electing to respond to changes in the market with 'Korian First', a corporate transformation initiative. A number of major key actions have already been accomplished as part of this initiative: acquisition of the German market leader, Curanum; thorough review and enhancement of our processes for improved economic performance; and the disposal of the psychiatry business, enabling us to refocus our business model on our most strategic assets nursing homes and follow-up care and rehabilitation facilities.
"In the weeks ahead, we will be launching an important step in the Group's innovation process, one of Korian First's four strategic drivers, by holding the very first meeting of the Executive Committee of Korian's Institut de Bien Vieillir [institute for healthy ageing]. Founded in 2013, the institute will combine the complementary expertise of distinguished Committee members, providing the Group with a tremendous tool for nurturing innovative thinking and devising the products and services of the future."
| In €M | Quarterly figures* | |||||||
| Q1 2013 | Q1 2012 | ?13/12 | ||||||
| France | 192.8 | 187.4 | 2.9% | |||||
| % total revenues | 63% | 69% | ||||||
| International | 111.4 | 84.9 | 31.2% | |||||
| % total revenues | 37% | 31% | ||||||
| Germany | 65.2 | 37.0 | 76.3% | |||||
| Italy | 46.2 | 47.9 | -3.6% | |||||
| Group total | 304.2 | 272.4 | 11.7% | |||||
| *unaudited figures | ||||||||
About KORIAN
The Korian Group, founded in 2001, is the European market leader in comprehensive care. Korian has the facilities to accommodate more than 34,000 residents and patients in Europe (France, Germany and Italy) and employs over 26,000 staff. The group manages 270 nursing homes and 50 specialist clinics, has over 2,200 beds in assisted living facilities and provides homecare services for over 9,000 people.
The company has been listed on Euronext Paris Eurolist Compartment B since November 2006.
Next announcement: 17 July 2013 after close of trading
First-half revenues for 2013
For more information, please visit our website: www.groupe-korian.com
Korian 32, rue Guersant 75 017 Paris France Tel: +33 (0)1 55 37 52 00 Fax: +33 (0)1 55 37 52 01
Contacts:
Korian
Investor Contacts:
Louis Guyot, +33 (0)1 55 37 52 11
l.guyot@groupe-korian.com
or
Alexis Jungels, +33 (0)1 55 37 52 25
a.jungels@groupe-korian.com
or
Press Contacts:
Maggie Schelfhaut, +33 (0)1 55 37 52 21
m.schelfhaut@groupe-korian.com
