Organic growth of 7.0%
Continued investment and bolt on acquisitions
Launch of KORUS, the Group's first employee shareholding plan
Regulatory News:
Korian (Paris:KORI), the leading European care and support services group for the elderly and fragile, announces its 1st quarter revenue for 2022.
Sophie Boissard, Korian Group Chief Executive Officer, stated:
"At our next Annual General Meeting in June 2022, we will be submitting for approval the transformation of Korian into a European company. We are also launching, through a close dialogue with our stakeholders, the transformation of Korian into a mission-led company by June 2023.
As an integral part of our ESG strategy and commitment to our teams we have announced our first employee shareholding plan across Europe this quarter. Through this scheme we are offering all our employees the opportunity to participate as a shareholder in the transformation and innovation projects of the Group, hereby contributing to the development of Korian over the long term. Together, we are building across Europe a community of professionals with strong values, working at the heart of our communities, in order to better respond to the growing needs of elderly and fragile people and their families and contribute to solutions for maintained autonomy. This plan will be finalized in July 2022."
- Revenue of €1,093.9m in the first quarter of 2022, growing by 7.4% versus 2021, with an organic growth of 7.0%, driven by:
- A high activity level in Healthcare rebounding to pre-pandemic levels,
- Continued dynamic growth of Home Care activities, including co-living solutions
- Good contribution of Long Term Care activity, stabilising after strong rebound in Q4 2021 and despite the impact of the Omicron variant
- Launch of KORUS, our first employee shareholding programme:
- Open to all employees across Europe
- Favourable conditions for staff with a fully protected structure
- Ongoing presentation of the plan in all facilities of the Group in Europe
- Continued roll out of investment programme and targeted bolt-on acquisitions:
- Reinforcing mental health capacity within the Group through the acquisition of IHG, a specialised multidisciplinary platform in Italy, with around 1,000 beds and ambulatory capacities;
- Continued transformation of the French healthcare network with 16 sites under construction or renovation in 2022, including the opening of a specialised clinic in Livry Gargan and the start of construction of a new medical platform of 200 beds in the Paris area;
- Roll out of the "Boost" renovation project in the nursing home sector in France with 25 sites under renovation at present;
- Two high quality nursing homes in West England with 150 beds, a quality rate of 9.9/101 and Real Estate ownership
- A €0.35/share dividend with a share payment option to be proposed to the Annual General Meeting, as compared to €0.30/share in 2021 and €0.60/share in 2019
- 2022 guidance: confirmation of an organic growth above 4%, progressive normalisation of the EBITDA margin and of the Operational Free Cash Flow
1st quarter 2022 revenue
Revenue (€m) | Reported growth | Organic growth | ||||
Country | Q1 2021 | Q1 2022 | Variation % | |||
France, Spain, UK* | 510.8 | 543.0 | 6.3% | 7.2% | ||
Germany | 259.3 | 269.4 | 3.9% | 3.8% | ||
Benelux** | 143.4 | 153.2 | 6.9% | 8.9% | ||
Italy | 104.7 | 128.4 | 22.6% | 11.2% | ||
Total | 1,018.2 | 1,093.9 | 7.4% | 7.0% | ||
O/w France: €510.4m in Q1 2022 vs €501.2m in Q1 2021, Spain: €23.9m in Q1 2022 vs €7.8m in Q1 2021, United Kingdom: €8.7m in Q1 2022 vs €1.8m in Q1 2021
** O/w Belgium: €130.5m in Q1 2022 vs €125.2m in Q1 2021, Netherlands: €22.6m in Q1 2022 vs €18.2m in Q1 2021
Next Events:
22 June 2022 Annual general Meeting
28 July 2022 1st half-year 2022 Revenue and Results
About Korian
Korian, the leading European care services group for elderly and fragile people. www.korian.com
Korian has been listed on Euronext Paris Section A since November 2006 and is included in the following indices: SBF 120, CAC Health Care, CAC Mid 60, CAC Mid Small and MSCI Global Small Cap
Euronext ticker: KORI ISIN: FR0010386334 Reuters: KORI.PA Bloomberg: KORI.FP
1 According to carehomes.co.uk
View source version on businesswire.com: https://www.businesswire.com/news/home/20220425005847/en/
Contacts:
INVESTOR RELATIONS
Sarah Mingham
VP Investor Relations
& Financing
sarah.mingham@korian.com
Tel: +33 (0)1 55 37 53 55
Carole Alexandre
Deputy Head of
Investor Relations
carole.alexandre@korian.com
Tel: +33 (0)7 64 65 22 44
MEDIA
Cyrille Lachevre
Clachevre@cylans.ovh
Tél.: 06 20 42 12 08
Pascal Jentsch
VP International communications
pascal.jentsch-ext@korian.com
Tél. 07 65 18 58 55
Marjorie Castoriadis
Head of Media Relations
marjorie.castoriadis@korian.fr
Tel: +33 (0)7 63 59 88 81
