(AOF) – Orpea’s third quarter turnover amounted to 1.313 billion euros, up 11.1%, including an organic increase of 10.2%. The group’s overall level of activity is increasing with an average occupancy rate of 83.8%, up 1.8 points compared to the third quarter of 2022.
“The dynamic of the activity was positive internationally and within the scope of clinics in France. The turnover also benefited from the effects of price increases, particularly in Germany, and from the contribution of establishments opened in the last 12 months,” the company said.
In France, retirement home activity “remains far from its historical levels”. In the third quarter of 2023, the average occupancy rate of retirement homes in France stood at 84.4%, an increase of 100 basis points compared to the first half of 2023.
The company also updated its financial projections, revised downwards in October.
This year, Ebitdar (Ebitda before rent) would stand at around 710 million euros, i.e. a level located at the bottom of the range of 705 million euros to 750 million euros communicated on July 13. The group’s turnover should stand at around 5.2 billion euros for an occupancy rate of 84% compared to 81.6% in 2022.
Orpéa has also warned that its Ebitdar objectives of 1.2 billion euros and financial leverage of 5.5 attached to its November 2022 business plan are postponed from 2025 to 2026. The turnover is expected at 6.4 billion euros for a group occupancy rate of 90.8%.
With regard to financial restructuring, the launch of the first of three successive capital increases is planned in the coming days, subject to the decision of the Paris Court of Appeal concerning the appeals filed against the Authority’s decision. financial markets to grant the Group led by Caisse des Dépôts an exemption from the obligation to file a public offer for all Orpea shares.
“With the lifting of this suspensive condition, the Accelerated Safeguard Plan will enter its effective implementation phase, which involves massive dilution for existing shareholders,” the group once again warned. “these would hold, at the end of these operations and in the absence of reinvestment, approximately 0.04% of the capital, the theoretical value of the share coming out in this context at less than 0.02 euros”, specifies the society.
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