PARIS (Agefi-Dow Jones)–The operator of retirement homes and clinics Orpea announced on Tuesday that its turnover amounted to 4.28 billion euros in 2021, up 9.2 %, in line with the latest forecasts. The group also indicated that the independent external evaluation missions on all the allegations reported in the book-investigation “Les Fossoyeurs” had “already started”.
The company had commissioned two independent firms Alvarez & Marsal and Grant Thornton following the scandal caused by the serious allegations contained in the book “Les Fossoyeurs” published on January 26.
The consensus of FactSet analysts forecast for 2021 a turnover of 4.28 billion euros. For its part, the group had raised its turnover target for 2021 last November, anticipating growth of more than 9%, against growth of more than 7.5% previously anticipated.
“Turnover benefited from the gradual rise in occupancy rates, made possible above all by the vaccination campaign against Covid-19,” the company explained in a press release. Growth also benefited from the contribution of acquisitions made, particularly in Ireland and Switzerland, she said.
For the fourth quarter alone, Orpea’s turnover increased by 8.8%, to 1.1 billion euros. Organic growth reached 4.5% over the period.
Regarding the start of 2022, the group indicated that it was experiencing “a solid dynamic”, “despite the health context”, thanks to a “rapid resumption of activity” of the clinics “at the end of the end of the year celebrations”.
In addition, “retirement homes have slightly higher occupancy rates compared to the fourth quarter of 2021, in particular French accommodation establishments for dependent elderly people (Ehpad) which represent less than 25% of the turnover of the group,” added Orpea.
-Francois Berthon, Agefi-Dow Jones; +33 (0)1 41 27 47 93; [email protected] ed: ECH
FINANCIAL RELEASES FROM ORPEA:
http://www.orpea-corp.com/
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Dow Jones Newswires
February 08, 2022 12:54 ET (17:54 GMT)