Fundamental Economic Figures for Q3 2022
IATRIKOU Athens Group, following the letter of the Capital Market Commission of 09/11/2022, which was communicated to all issuers with securities listed for trading on the regulated market of the Athens Stock Exchange, and with a view to valid and timely information of the investing public, in combination with the effects of the energy crisis, the military conflicts in Ukraine and the macroeconomic environment, we present to you a summary of the fundamental financial figures for the 9 months of 2022 as well as the 3rd quarter of fiscal year 2022 of the Company and the IATRIKOU Group.
Overall, for the period from 1/1- 30/9/2022, the Group’s Turnover, after rebate & clawback, amounted to 169,498 thousand euros, compared to 169,448 thousand euros for the corresponding period of 2021, EBITDA amounted to 23,257 thousand euros compared to 27,403 thousand euros in 2021 and EBIT amounted to 13,015 thousand euros compared to 17,677 thousand euros in 2021.
Respectively, for the Company, Turnover after rebate & clawback, amounted to 166,230 thousand euros, compared to 165,930 thousand euros for the corresponding period of 2021, EBITDA amounted to 18,804 thousand euros compared to 24,222 thousand euros in 2021 and EBIT amounted to 9,051 thousand euros compared to 14,965 thousand euros in 2021.
In particular, during the 3rd quarter of the year (1/7-30/9/2022) the Group’s turnover, after rebate & clawback, amounted to 52,104 thousand euros, compared to 54,842 thousand euros for the corresponding period of 2021, EBITDA amounted to 5,658 thousand euros compared to 8,315 thousand euros in 2021 and EBIT amounted to 2,232 thousand euros compared to 4,994 thousand euros in 2021. Accordingly, for the Company, Turnover after rebate & clawback amounted to 51,061 thousand euros, compared to 53,644 thousand euros for the corresponding period of 2021, EBITDA amounted to 4,112 thousand euros compared to 7,198 thousand euros in 2021 and EBIT amounted to 849 thousand euros compared to 4,040 thousand euros in 2021.
In the 3rd quarter of 2022, profit margins in the Group moved to lower levels compared to the 3rd quarter of 2021, mainly due to increased energy costs but also to the overall increase in operating expenses due to high inflation. On the contrary, in the 4th quarter, the turnover and profitability at the Group and Company level increased compared to the 3rd quarter of 2022.
In relation to the changes in the Group’s debt position, which took place during the 3rd quarter of fiscal year 2022, the Group’s Management signed on July 25, 2022 a new Joint Bond Loan agreement, with a total nominal value of €10,000 thousand, for the financing of the new building with a total area of 6000 sq.m. next to the existing one at the Inter-Balkan Medical Hospital of Thessaloniki, which will house the new pioneering oncology center, doctors’ offices and will increase the hospital’s bed capacity by 80.
The duration of the loan was set at six years, expiring in 2028. The contractual The interest rate was determined at 6-month EURIBOR plus a margin that is adjusted based on the price of financial indicators as defined in the contract and ranges between 2.7% – 3.1%. The first repayment installment based on the bond loan program will take place in July 2024.
On August 24, 2022, the payment of the capital return began based on the decision of the Annual General Meeting of the Company dated June 17. Specifically, the Annual Ordinary General Meeting of Shareholders approved:
a) the increase in the company’s share capital by 6,071,518.60 euros by capitalizing part of the reserve from the account “Difference from the issue of shares at par” and increasing the nominal value of each share by the amount of 0.07 euros, i.e. from 0.31 euros to 0.38 euros.
b) the equal simultaneous reduction in the company’s share capital by 6,071,518.60 euros, with a corresponding reduction in the nominal value of each share by the amount of 0.07 euros, i.e. from 0.38 euros to 0.31 euros and the return of the share capital to the shareholders by cash payment, i.e. an amount of 0.07 euros per share. After the above equal increase and decrease, the company’s share capital amounts to 26,888,153.80 euros.
The Management, although there is no direct impact from the Russian invasion of Ukraine, as there are no transactions with the countries involved, is closely monitoring developments and adjusting the Group’s operation based on developments in the macroeconomic environment in Greece, in Europe and in general on the international scene.Despite the difficult economic and geopolitical conditions prevailing in the ongoing energy crisis, rising inflation and the looming further increase in interest rates, the Group recorded positive results in the first nine months of 2022 with a slight increase in turnover. The Group Management is steadily implementing the investment plan it has designed for the modernization of equipment and facilities, which is expected to be completed by the end of 2023.
