Caissargues, August 30, 2023
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In €m |
2021-2022 published |
2021-2022* retired |
2022-2023 published |
Var |
Turnover 4 | 126.9 | 123.4 | 127.9 | +3.6% |
Annual sales | 468.4 | 458.1 | 508.0 | +10.9% |
*Revenue restated for assets held for sale
The Bastide Group continued to grow in the fourth quarter with revenue of €127.9 million, up +3.6% and +1.1% on an organic basis
1
. The slowdown in growth over this quarter is explained by a one-off unfavorable basis for comparison linked to exceptional sales of around €5 million recorded in the 4
th
quarter 2021-2022 with local authorities. The “Home care” activity thus came to €53.4 million, down 8% and 8.4% organically, also including a return to normal in sales of personal protective equipment (PPE).
The more technically demanding activities (Respiratory, Nutrition-Perfusion-Stomatherapy) remain very dynamic with revenue of €74.5 million, up +13.8% and +9.5% in organic growth.
Annual revenue amounted to €508.0 million (+10.9%, of which +5.0% organic) in line with the target set by the Group of around €510 million. The scope effect of acquisitions amounts to €27.3 million over this period. In accordance with the Group’s development strategy, the share of international activities is increasing and reaches nearly 18% of revenue (compared to 16% in 2021-2022).
Breakdown of annual turnover by business
Home support
: Turnover amounted to €216.5 million, up +0.9% (-2.9% on an organic basis) despite a contraction in PPE sales of -64.6%. Excluding PPE, the division posted overall growth of +5.0% (+1.0% organic).
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In communities
, the Group posted revenue of €96.0 million, down 5.6% (-6.9% on an organic basis). Excluding the impact of PPE sales, revenue was down 2.4% organically due to a fourth quarter strongly impacted by a very demanding comparison basis.
-
In stores/online
, revenue amounted to €120.5 million, up +6.6% (+0.7% on an organic basis). Excluding PPE, the segment posted organic growth of +3.9%.
“Breathing” activity
generated revenue of €162.1 million, up +20.3% (+11.4% organically). The momentum remains very strong in France as well as internationally, particularly in Spain with a record level of activity recorded by Keylab. The recently acquired companies, Medpro in Canada, Oxystore in Italy and 4SMed in France also delivered an excellent performance.
The “Nutrition-Perfusion-Stomatherapy” activity
posted revenue of €129.4 million, up +19.2% (+12.6% on an organic basis). All segments of this activity remain very dynamic, in particular diabetes services, with organic growth of between +8% and +22%.
2022-2023 outlook confirmed
Given the good business momentum and the growing share of high value-added businesses in the Group’s turnover, Bastide confirms its current operating margin target of more than 8.3% for the 2022 financial year. -2023.
The Bastide Group is confident in its ability to maintain solid organic growth in 2023-2024 and is thus targeting revenue of €540 million, excluding new external growth operations, for the current financial year.
Improving operating free cash flow and therefore reducing the Group’s debt will remain major priorities. The selective external growth strategy targeting highly technical activities, particularly internationally, will continue, taking care not to weigh down the Group’s financial structure.
1
Organic growth calculated at constant exchange rates and at constant scope, restating 2021-2022 for the contribution of companies acquired less than 12 months ago
NEXT POST
:
2022-2023 annual results on October 18, 2023 after market close
About Bastide Medical Comfort Group
Created in 1977 by Guy Bastide, the Bastide Group is one of the main European players in home healthcare services. Present in 7 countries, Bastide develops a permanent quality approach and is committed to providing medical devices and associated services that best meet the needs of patients in key health areas: diabetes, nutrition, infusion, respiratory, stomatherapy and urology. . Bastide is listed on Euronext Paris (ISIN: FR0000035370, Reuters BATD.PA, – Bloomberg BLC: FP).
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Bastide Group |
Finance News | |
|
Vincent Bastide/Olivier Jourdanney Phone +33 (0)4 66 38 68 08 www.bastide-groupe.fr |
Analysts-Investors Helene de Watteville Phone +33 (0)1 53 67 36 33 |
Press – Media Anne-Charlotte Dudicourt Phone +33 (0)1 53 67 36 32 |
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