Orpea posts a net loss in H1, the stock falls | Photo credit: Shutterstock
Sept 29 (Reuters) – Orpea shares fell 7.4% after the retirement home group reported a net loss for the first six months of the year on Wednesday, hurt by a drop in the value of its assets.
The group’s share, at its lowest for almost 18 years, is among the sharp declines in the SBF 120 index.
Orpea, which is at the heart of investigations into accusations of abuse of residents, recorded a net loss of 269 million euros in the first half of 2022, against a profit of 102 million euros in the same period last year. .
“The company has been severely affected by both the shortcomings and unethical behavior of its former managers, by too rapid international and real estate development, which have weakened Orpea’s financial situation”, declared the director. General Laurent Guillot in a press release.
Orpea also warned about the Ebitdar margin rate in the second half, which could be lower than that of the first half, due to the volatility of energy prices. (Writing by Federica Mileo, editing by Kate Entringer)