In Q1, the company recorded an increase in sales of 31.1%, an increase in EBIT of 56.3% and a decrease in net income of 46%.
As Med Life published their Q1 2019 report, we are bringing you key takes from it. According to the report, sales amounted to RON 231m, representing an increase of 31.1% YoY. This increase was mainly the result of significant growth in all of the Group’s business lines, led by Hospitals, Clinics, Corporate and Laboratories, as well as acquisitions completed by the Group in 2018. To be more specific, of the total sales, Clinics accounted for 29.3% and increased by 40.5%. Further, Hospitals accounted for 22.8%, increasing by 59.7%.
Sales (Q1 2019 vs Q1 2018) (RON m)
In Q1 the Group recorded operating expenses of RON 218m, representing an increase of 30.7%. The increase is mainly linked to overall business increase.
Going further down the P&L, EBIT amounted to RON 15m, which represents an increase of 56.3%.
When observing the company’s net financial result, in Q1, they observed a loss of RON -11.1m compared to a loss of RON -3.6m in Q1 2018. The increase in loss was mainly due to the increase of RON 6m in other financing expenditures due to the increase in foreign exchange expenses, but also to the increase of RON 1m in the cost of financing following the implementation of IFRS 16.
As a result of the increased net financial loss, Med Life observed a decrease of 46% in net income, amounting to RON 2.4m.
