MedLife 2018 Preliminary Results

In 2018, MedLife’s operating revenue increased by 27.5% YoY, EBITDA increased by 22.4% and net income increased by 88.1%.

As MedLife published their 2018 preliminary results, we are bringing you some key takes from the report. According to it, in 2018, MedLife observed an increase in sales of 27.5% YoY, amounting to RON 794.5m. This increase could be attributed to a significant growth in almost all of the Group’s business lines, led on a percentage basis by Clinics (29%), Hospitals (21%), Corporate (21%) and Laboratories (17%), as well as the impact of the acquisitions completed by the Group in 2017 and 2018. Also, other operating revenues observed an increase of RON 2.3m, amounting to RON 9.8m.

MedLife Operating Revenue (2015 – 2018) (RON m)

Further, operating revenue amounted to RON 804.4m, which is an increase of 27.5% YoY.

The Group recorded operating expenses of RON 766.5m in 2018, representing an increase of 28.6%. The rise could be attributed mainly to overall business increase.

When observing MedLife’s EBITDA, it amounted to 95.4m, which is an increase of 22.4% YoY. Note that the increase was impacted by higher depreciation (+33.6%), amounting to RON 57.5m. The Group’s EBITDA margin amounted to 12%.

Next, the Group recorded a net income of RON 16.4m, which is an increase of 88.1%. This increase could be attributed to both an increase in EBIT (+8.5%) and a decrease in net financial result (-29.3%) of RON 6m. The Group’s net income margin amounted to 17.2% which is an increase of 6 p.p.

 In 2018, MedLife made a couple of acquisitions, which include:  80% of share capital of Solomed Clinic SA, 90% of share capital of Ghencea Medical Center SA, 100% of share capital in Clinica Polisano SRL, 100% of share capital in Sfatul medicului and 100% of share capital in Centrul de Imagistica Transilvania Oradea through Genesys Medical Clinic SRL.

MedLife EBITDA and Net Income (2015 – 2018) (RON m)
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