(AOF) – Orpea publishes consolidated turnover for the first half of 2023, up +10.7% compared to 2022. The group posts a net loss of 371 million euros for this half-year compared to 269 million euros one year ago. This loss includes interest charges much higher than those of the first half of 2022. Ebitdar stood at 336 million euros, down 21% compared to the first half of 2022. The group’s overall level of activity is growing with an average occupancy rate of 82.7%, up +1.4 points compared to the first half of 2022.
For 2023, based on the work carried out to date, the Company estimates to date that Ebitdar should be at the lower end of the estimate (705-750 million euros) that it had made public in its press release. press release of July 13.
The growth in activity, “essentially organic”, results from the overall increasing occupancy rate with the exception of the scope of retirement homes in France, an increase in reception capacities, and the effects particularly marked price increases in the Central Europe zone.
Profitability is however “down due to higher costs resulting from the context of high inflation” and, in the short term, the company’s desire to “refocus without delay on its fundamentals”: acceleration of recruitment and various initiatives to attract and retain teams over time.
“If the group’s occupancy rate increases (excluding retirement homes in France), the choice to invest for our teams and the increase in our costs in an inflationary context are not entirely offset by the increase in our prices and lead to a reduction in our operating margin over the first half of the year”, summarizes general manager Laurent Guillot. “These choices will gradually bear fruit,” he predicts.
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