(Boursier.com) — In the 1st quarter of 2022, Korian achieved a turnover of 1.094 billion euros, including 7% organic growth. The group will distribute to its shareholders a dividend of 0.35 euro per share (0.30 euro in 2021 and 0.60 euro in 2019), including a payment option in shares.
Korian confirmed in passing a 2022 outlook of organic growth above 4%, a gradual normalization of the Ebitda margin and operating free cash flow.
Portzamparc speaks of a “good-quality publication and in line with guidance”…”From our understanding, the market seems to be settling a little on the ‘M&A’ side. Management therefore anticipates multiples pointing downwards in other countries in Europe and vector of opportunities over the financial year” continues the analyst whose scenario is confirmed at this stage (Sales: 4,634.1 ME +7.5%, +4.5% organic with EBITDA margin (IFRS 16): 24% +60bp).
“In addition, the group has delivered a reassuring message vis-à-vis the fifty or so establishments checked since the beginning of February (with no new checks for about three weeks) and is considering a Q2 similar to Q1 (indicating a stability of the TOs in France currently)” concludes the analyst who is aiming for a price of 27 euros with a buy notice. The title fell 0.7% to 20 euros.
©2022 Boursier.com