Capital Market Commission – 3rd Quarter 2021
Athens Medical Group, following the letter of the Capital Market Commission of 09/11/2021, informs the investing public about the formation of fundamental financial figures and the developments of its activity for the 3rd quarter of 2021.
Despite the continued spread of the Covid-19 pandemic, which has resulted in global uncertainty and the adoption of extraordinary restrictive measures, the Group’s financial results during the first nine months of 2021 were particularly positive, significantly increased compared to the first nine months of 2020 and reflect the Group’s positive prospects in the short and long term.
Specifically, during the 3rd quarter of the year (1/7-30/9/2021), the Group’s turnover, after rebate & clawback, amounted to 54,842 thousand euros, compared to 49,456 thousand euros for the corresponding period of 2020 (an increase of 10.9%), EBITDA amounted to 8,315 thousand euros compared to 5,423 thousand euros in 2020 (an increase of 53.3%) and EBIT amounted to 4,994 thousand euros compared to 3,158 thousand euros in 2020 (an increase of 58.1%). Accordingly, for the Company, the Turnover after rebate & clawback amounted to clawback amounted to 53,644 thousand euros, compared to 48,451 thousand euros for the corresponding period of 2020 (an increase of 10.7%), EBITDA amounted to 7,198 thousand euros compared to 4,354 thousand euros in 2020 (an increase of 65.3%) and EBIT amounted to 4,040 thousand euros compared to 2,192 thousand euros in 2020 (an increase of 84.3%). The figures for the 3rd quarter confirm the Management’s assessment that in the long term the fundamentals of the Group remain positive.
Overall, for the period from 1/1- 30/9/2021, the Group’s Turnover, after rebate & clawback, amounted to 169,448 thousand euros, compared to 139,714 thousand euros for the corresponding period of 2020 (an increase of 21.3%), EBITDA amounted to 27,403 thousand euros compared to 13,981 thousand euros in 2020 (an increase of 96%) and EBIT amounted to 17,677 thousand euros compared to 5,697 thousand euros in 2020 (an increase of 210.3%). Accordingly, for the Company, Turnover after rebate & clawback, amounted to 165,930 thousand euros, compared to 136,541 thousand euros for the corresponding period of 2020 (an increase of 21.5%), EBITDA amounted to 24,222 thousand euros compared to 11,243 thousand euros in 2020 (an increase of 115.4%) and EBIT amounted to 14,965 thousand euros compared to 3,288 thousand euros in 2020 (an increase of 355.1%).
In relation to the Group’s debt position, the disbursement of the new Joint, secured, long-term Bond Loan, amounting to € 100,290 thousand, has been completed, with the aim of fully refinancing the existing Joint Bond Loan as well as existing short-term loan obligations.
The net debt position of the Group and the Company on 30.09.2021 amounted to € 111,338 thousand and € 108,607 thousand from € 112,198 thousand and € 109,364 thousand in the corresponding comparative period.
Finally, the Group Management estimates that despite the difficulties and the significant increase in energy costs, which is expected to have a minor impact on the company’s operations during the last quarter of 2021, in the 4th quarter of 2021, turnover and profitability at both the Group and Company levels will remain increased compared to the 4th quarter of 2020.
