In the first nine months of 2019, the company recorded an increase in sales of 22.7%, increase in EBITDA of 69.1% and an increase in net profit of 51.8%.

In the first nine months of 2019, MedLife recorded an increase in sales of 22.7% YoY, amounting to RON 711m. Such an increase was mainly the result of significant growth in almost all of the Group’s business lines, led on a percentage basis by Clinics, Hospitals and Laboratories, as well as the impact of the acquisitions completed by the Group in 2018 and 2019. Of the total sales, Clinics segment accounts for 30%. Next come Hospitals and Corporate segment with 23% and 19% respectively.

When observing operating expenses, MedLife recorded RON 672m, representing an increase of 20.9%.  The increase is mainly linked to overall business increase. As a result, third party expenses increased by RON 42.55bn (+28.4%), salary and related expenses increased by RON 38.4m (+21.7%), while depreciation recorded an increase by RON 27.4m (+64.4%).

As a result of the improved topline, the company observed a strong increase in EBITDA of 69.1%, amounting to RON 118.8m. Such a result puts the EBITDA margin at 17.1% (+5 p.p. YoY). Meanwhile, operating profit amounted to RON 43.82m amounted to RON 43.82m, showing a strong increase of 57.6%

Going further down the P&L, financial result increased by 112.5%, amounting to RON -19.3m. Such an increase in net financial loss could be mostly attributed to higher net loss from FX impact.

In the first nine months of 2019, the company recorded a net profit of RON 19.4m, representing an increase of 51.8% YoY.

As above mentioned, MedLife’s growth partially stems from their high acquisition activity. As a reminder, MedLife reached a portfolio of 26 acquired companies, with Micromedica Medical Center being the latest one, which was announced earlier this month.