News

Athens, October 1, 2021 – The Company published its financial results for the first 6 months of the fiscal year 2021. The results are particularly positive and show a significant improvement compared to the results of the corresponding period last year.

The increase in financial figures compared to the previous corresponding period is the result of two main factors:

• the targeted strategic development moves of the Group
• the significant improvement in the course of the Greek economy, as the last 6 months had been negatively affected much more by the covid19 pandemic.

In particular:

• On a consolidated basis, the Group’s turnover amounted to 114,606 thousand euros, compared to 90,258 thousand euros in the same period of 2020, recording an increase of 27%.
• Operating profits before taxes, interest, depreciation and amortization (EBITDA) amounted to 19,087 thousand euros, compared to 8,558 during 2020, recording an increase of 123%.
• The Group’s profit after taxes amounted to 7,879 thousand euros, compared to a loss of 277 thousand euros in the first half of 2020.
• The Group’s cash and cash equivalents amounted to 58,390 thousand euros compared to 25,510 euros in the corresponding period last year.

The Group’s net debt position decreased by 5% or 5,535 thousand euros and amounted to 98,867 thousand euros from 104,402 thousand euros in the corresponding period last year.

Recently, our Group signed a new Bond Loan, with a total nominal value of EUR 100,290 thousand. The new Bond Loan provides for a repayment period until 2026 with the possibility of an extension for two more years. The proceeds of the Bond Loan will be used to refinance the existing syndicated bond loan as well as to repay existing short-term loan obligations.

Finally, the Group is systematically advancing its long-term investment plan of a total amount of EUR 50 million, which includes investments in state-of-the-art medical equipment as well as building expansions in the Group’s hospitals. In Thessaloniki in particular, at the Inter-Balkan Medical Center of Thessaloniki, the construction of a new complex of doctors’ offices, a research and educational center as well as a nursing school has begun.

The Company’s management believes that the 6 months of the current fiscal year confirm the positive prospects of the Group both for the entire current fiscal year and for the coming years.

For more press information:

Savvas Karagiannis, Communications Manager, General Directorate of Business Development of the Athens Medical Center Group

Tel.: 210 6287236, E-mail: s.karagiannis@iatriko.gr