PARIS (Agefi-Dow Jones)–Retirement home and clinic operator Korian on Thursday confirmed its organic growth target for 2022, after reporting higher third-quarter revenue.
For the period from July to September, the group’s turnover amounted to 1.13 billion euros, up 4.8% on a reported basis and 6.4% on an organic basis compared to the same period in 2021.
Analysts polled by FactSet were expecting an average turnover of 1.14 billion euros.
For the first nine months of the financial year, revenue reached 3.36 billion euros, representing organic growth of 5.7% compared to the same period in 2021, “driven in particular by an increase of 3 points of the occupancy rate of retirement homes”, indicated Korian.
For its 2022 financial year as a whole, Korian is still aiming for organic revenue growth of around 6%. At the same time, the group expects in 2022 “a gross operating surplus margin (Ebitda) pre-IFRS 16 at a level close to last year (13.7%) while maintaining a financial structure comparable to that of June 30, 2022”.
-Vincent Alsuar, Agefi-Dow Jones +33 (0)1 41 27 47 39; [email protected] ed: LBO
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
October 27, 2022 11:56 ET (15:56 GMT)