emeis Sees Significant Growth and Recovery in Third Quarter
emeis, a leading player in the healthcare sector, has announced impressive performance results for the third quarter of 2024. The company reported a solid growth rate of +8.3%, which includes a remarkable +8.2% on an organic basis. This growth reflects a steady recovery following the strategic measures implemented over the past 18 months.
Occupancy Rates on the Rise
The company experienced an increase in its average occupancy rate, which rose by +2.6 points, reaching 85.6% during the first nine months of 2024 compared to 83.0% during the same period last year. Moreover, there was a particularly favorable trend observed in nursing homes, with an average occupancy rate of 83.8% since the beginning of the year, marking an improvement over the previous year.
Revenue Growth across Core Markets
emeis witnessed significant revenue increases across all geographical markets. The positive trends were supported by a notable price effect across the group, averaging +4.7%. The overall solid business performance indicates that the recovery trends seen earlier in the year are continuing.
Nursing Homes and Clinics Lead Growth
The nursing home segment was a significant driver of this growth, contributing to an almost +11% revenue increase. In France, there was substantial organic revenue growth driven primarily by nursing homes, contributing to a general uptrend in overall growth.
Disposal and Debt Reduction Programs
emeis is on track with its disposal programs, with nearly €700 million in disposals secured since mid-2022. The objective remains to achieve a total of €1.5 billion in disposals by the end of 2025, part of a strategy to reduce debt and strengthen financial health.
Favorable Outlook for 2024
The company has reaffirmed its EBITDAR target for the full year 2024, projecting an increase between 0% and +5%, estimating it will fall between €700 million and €730 million. This outlook is consistent with previous announcements highlighting emesis's commitment to improving its operational efficiency.
CEO Insights on Recent Performance
Laurent Guillot, the CEO of emeis, expressed optimism regarding the company's recovery trajectory, emphasizing the positive price impacts and occupancy rates. He noted that the segmentation of offerings is improving relevance and satisfaction among residents and patients, crucial for future growth.
Continued Commitment to Healthcare
emeis operates in approximately 20 countries, focusing on five core activities: psychiatric hospitals, nursing homes, home care services, rehabilitation hospitals, and assisted-living facilities. Every year, the company supports 283,000 patients, residents, and beneficiaries.
With a workforce of nearly 78,000 health professionals, emeis is dedicated to addressing societal challenges related to aging and mental health. The company continues to enhance its services and outreach in response to the evolving needs within these sectors.
Frequently Asked Questions
What were the main factors driving emeis's recent growth?
Growth was primarily driven by significant increases in occupancy rates and a favorable price effect across the group's markets.
How has the occupancy rate changed in recent quarters?
The average occupancy rate reached 85.6% during the first nine months of 2024, an increase of +2.6 points compared to the previous year.
What is emeis's outlook for EBITDAR in 2024?
emeis anticipates an EBITDAR increase between 0% and +5%, targeting figures between €700 million and €730 million.
How much has emeis secured in asset disposals?
As of the end of September, emeis has secured nearly €700 million in disposals, aiming for a total of €1.5 billion by the end of 2025.
Which segments contributed most to revenue growth?
The nursing homes segment led revenue growth with an increase of nearly +11%, primarily supported by a rise in occupancy rates.
