RAMSAY GENERALE DE SANTE : 2015-2016 Results
Comunicato Precedente
Comunicato Successivo
Paris, August 29, 2016
Annual results at end-June 2016
Satisfactory results despite a very unfavorable pricing environment:
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Merger completed between Ramsay Santé and Générale de Santé; synergies beyond expectations
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Smooth integration of Groupe HPM, acquired six months ago
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Reported revenue of the new Group amounted to €2,226.9 million. The contribution, over 12 months, of the combined entities of Générale de Santé and Ramsay Santé (excluding HPM) was up 0.8%
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Reported EBITDA reached €269.8 million. The EBITDA margin of the combined entities (excluding HPM) was stable on an annual basis
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Net income amounted to €42.2 million, penalized by some goodwill impairments
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Net debt at June 30 amounted to €1,047 million
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Investment maintained at a high level as part of the Group's new strategic plan for 2020.
Pascal Roché, the Group's Chief Executive Officer, issued the following statement:
"Despite very strong pricing constraints, we were able to increase the revenue of our combined entities excluding HPM and maintain our EBITDA margin rate on an annual basis. This is due primarily to a significant increase in the number of patients (helped by additional working days), which confirms the attractiveness of our model for patients and physicians, based on a strategy of continuous improvement of quality and safety of care. Good cost control also plays an important role, in particular in relation to the restructuring and continuous improvement of our healthcare offering.
These strong results also stem from the mergers and integrations that we have carried out over the last year, including between the Ramsay Santé and Générale de Santé groups and the acquisition of Groupe HPM in Lille."
Information and reminder
As a reminder, the closing date of the accounts of the Générale de Santé Group was December 31, 2014, until the general meeting of June 9, 2015, which moved it to June 30 starting from the reporting period ended at June 30, 2015.
The financial statements published on June 30, 2015 therefore represented a reduced reporting period of six months. Therefore, we are comparing our 2016 reported data (a 12-month period from July 1, 2015 to June 30, 2016) with this reduced period.
Nevertheless, and in order to facilitate the analysis of our performance, we are also commenting in this press release and disclosing on page 11 of this document the main changes:
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for the combined entities of Générale de Santé and Ramsay Santé (excluding Groupe HPM, integrated on January 1, 2016);
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between our one-year reporting period up to end-June 2016 and a reconstituted reporting period of 12 months up to end-June 2015.
The Board of Directors, at its meeting of August 29, approved the consolidated financial statements at end-June 2016. The audit procedures were completed and the Notes and Auditors' Report are being prepared.
Accounts and reports will be made available to the public upon the release of the Group Reference Document by the end October 2016.
In €m |
from July 1, 2015 to June 30, 2016 | from January 1, 2015 to June 30, 2015 |
Change end-June 2016/end-June 2015 |
Revenue | 2,226.9 | 893.3 | nm |
EBITDA | 269.8 | 115.7 | nm |
Current operating income | 139.0 | 61.7 | nm |
In % of Revenue |
6.2% | 6.9% | |
Operating income |
114.4 | 48.3 | nm |
Group's share of net earnings |
36.9 | 4.9 | nm |
Net earnings per share (in €) |
0.49 | 0.09 | nm |
In €m | from July 1, 2015 to June 30, 2016 | from January 1, 2015 to June 30, 2015 |
Change end-June 2016/2015 |
Ile de France (Paris region) | 934.4 | 395.9 | nm |
Auvergne-Rhône Alpes | 342.5 | 147.0 | nm |
Nord-Pas-de-Calais-Picardie | 300.4 | 101.5 | nm |
Provence Alpes Côte d'Azur | 190.3 | 88.2 | nm |
Bourgogne-Franche Comté | 110.0 | 55.1 | nm |
Other regions | 349.3 | 105.6 | nm |
Other activities (1) | -- | -- | |
Reported revenue | 2,226.9 | 893.3 | nm |
Of which: - Organic |
1,729.4 | 893.3 | nm |
Of which organic France |
1,706.1 | 880.9 | nm |
Of which organic Italy |
23.3 | 12.4 | nm |
- Changes in scope |
497.5 | -- | nm |
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The "Other Businesses" line item includes non-strategic businesses whose assets have been sold.
Business and revenue
Consolidated revenue for the 12-month reporting period at end-June 2016 amounted to €2,226.9 million. The reference period that ended in June 2015 only covered six months and recorded revenue of €893.3 million. Beyond the differences in duration of these periods, the Group recorded in its accounts the integration of the Ramsay Santé Group at July 1, 2015 for €411.8 million and Groupe HPM at January 1, 2016 for €85.7 million.
The contribution of the combined entities of Générale de Santé and Ramsay Santé (excluding HPM) to the Group's revenues increased by 0.8% between 2016 and a similar 12-month period in 2015, benefiting in particular from three additional working days.
At end-June 2016, the hospitals of this scope increased the volume of their medicine-surgery-obstetrics (MCO) activities by 2.2% compared to the same 12 months of 2015.
Surgery was up 1.8% over these 12 months to end-June 2016, supported by the ophthalmology activities, while visceral surgery, spine surgery and neurosurgery also showed significant increases.
Medicine was up sharply, 4.2% over the period, due to the strong performance of interventional medicine.
Obstetrics and gynecology, however, showed a further decline of 3.5% over 12 months with a sharp, 5.3% drop in the number of births, in a global context in France of a sharp decline in the birth rate.
As part of the Group's public service missions, the number of emergency care treatments rose 8.5% over the 12 months to end-June 2016 (i.e. twice the usual rate in France), bringing the total patient visits to our emergency departments to 461,000.
In addition, the Group's psychiatric facilities, integrated with Ramsay Santé on July 1, 2015, recorded a 2.7% increase in the number of days billed during the past year.
Results:
EBITDA amounted to €269.8 million in published data for the 12 months of the reporting period ended at end-June 2016. The 2015 reference accounts reported an EBITDA of €115.7 million for the six-month reporting period.
Within the scope of the combined entities of Générale de Santé and Ramsay Santé (excluding HPM), the annual EBITDA margin rate was stable at 12.1%. The synergies stemming from the merger, as well as the action plans launched in spring 2015, in particular in regards to purchases, helped restrict the very detrimental impact of government measures.
The Group's current operating profit stood at €139.0 million at end-June 2016. The non-recurring expenses and restructuring costs, amounting to €24.6 million, include €21.1 million in some goodwill impairments notably due to recent rate cuts.
Net interest expenses were up sharply to €42.9 million due to the full year effect of the increase in debt outstanding in connection with the merger with Ramsay Santé, and to the impact, starting in January 2016, of the funding of the acquisition of Groupe HPM.
In total, Ramsay Générale de Santé Group's share of net profit amounted to €36.9 million during its 12-month period ended on June 30, 2016, versus €4.9 million for the period from January 1 to June 30, 2015 (perimeter of the former Générale de Santé Group).
Net debt: net financial debt outstanding per IFRS was up to €1,047.0 million at end-June 2016 (versus €729.3 million at end-June 2015)
Net financial debt outstanding per IFRS at June 30, 2016 was up to €1,047 million versus €729.3 million at June 30, 2015, due to two significant transactions recorded during the period:
· the merger-integration of Ramsay Santé by Générale de Santé:
The extraordinary general meeting of July 1, 2015 approved the merger agreement by which Ramsay Santé transferred to Générale de Santé, under the merger-integration, all of its assets and liabilities with retroactive effect at July 1, 2015 at 00:00. The agreed exchange ratio was 10 shares of Générale de Santé for 37 shares of Ramsay Santé.
On the same day, the extraordinary general meeting approved a capital increase in the amount of €14,647,425, corresponding to the issue of 19,529,900 new shares for the merger contribution.
Concurrently with the merger, the Group has drawn a credit facility of €240 million ("Term B2 Facility") negotiated under the new syndicated loan agreement signed on October 1, 2014 and consisting of various facilities for a total of €1,075 billion maturing in 2020. The purpose of this "Term B2" line was to refinance the debt carried by Ramsay Santé;
· the acquisition of Groupe HPM:
On December 17, 2015, Ramsay Générale de Santé finalized the acquisition of the Hôpital Privé Métropole (HPM) with 91.53% of shares. The Group increased its participation in Groupe HPM to 99.69% on January 6, 2016.
Funding for this acquisition combined the use of a share of the available cash and a partial draw, in the amount of €40 million, of the €1,075 million in available credit lines negotiated under the syndicated loan agreement concluded on October 1, 2014.
At June 30, 2016, net debt includes, notably, €1,110.0 million in borrowings and long-term financial debt, €54.8 million in short-term debt and €112.8 million in cash.
The exposure to interest rate risk on financial debt (without interest rate hedging instruments in place) is broadly distributed as follows:
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14.3% of financial liabilities are tied to fixed rates;
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85.7% of financial liabilities are tied to floating rates.
After hedging our interest rate risk using swaps, our exposure to interest rate risk is completely reversed with:
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87.4% of financial liabilities at fixed rates and,
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12.6% at floating rates.
Ramsay Générale de Santé SA is listed on the Euronext Paris Eurolist and included in the Midcac Index. The leading private healthcare and services group, Ramsay Générale de Santé has 20,000 employees in 124 facilities and centers. With 6,000 practitioners, it is the leading independent medical community in France. As a major player in hospital care, Ramsay Générale de Santé covers the entire healthcare chain: medical, surgery and obstetrics, oncology, after-care and rehabilitation, and mental health. Ramsay Générale de Santé has developed a unique healthcare offering combining quality and safety of care, efficient organization, and a human touch. The Group offers comprehensive care with personalized support before, during, and after hospitalization, taking into account all aspects of the patient's needs; it also operates in the public health service and national healthcare network.
ISIN and Euronext Paris Code: FR0000044471
Website: www.ramsaygds.com
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Glossary
Constant perimeter
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Restatement of newly consolidated entities consists of :
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For entities entering the consolidation scope in the current year, subtracting the contribution of the acquisition from the aggregates of the current year ;
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For entities entering the consolidation scope in the previous year, no restatement.
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Restatement of entities leaving the consolidation scope consists of :
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For entities leaving the consolidation scope in the current year, subtracting the departing entity's contributions from the aggregates of the current and previous years.
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For entities leaving the consolidation scope in the previous year, subtracting the departing entity's contributions from the aggregates of the previous year.
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Current operating profit means operating profit before other non-current income and expenses that comprise restructuring costs (expenses and provisions), gains or losses on disposal or a significant, unusual loss of value of non-current assets (tangible or intangible) and other operating expenses and income such as a provision relating to major litigation
EBITDA: This relates to current operating profit before depreciation and amortization (charges and provisions in the income statements are grouped according to their nature).
Net financial debt consists of gross financial debt less net cash.
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Gross financial debt consists of:
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bank loans, including incurred interest;
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loans relating to finance leases including incurred interest;
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fair value hedging instruments recognized in the balance sheet net of tax;
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current receivables and financial debt in relation to current financial accounts with minority investors;
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treasury shares held by the Group (considered as marketable securities).
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Net cash consists of:
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cash and cash equivalents;
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bank overdrafts.
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Selected financial information
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | |||
( in million euros ) | 2014 | From Jan., 1st 2015 to June, 30th 2015 | From July., 1st 2015 to June, 30th 2016 |
TURNOVER | 1 711.6 | 893.3 | 2 226.9 |
Personnel expenses and profit sharing | (737.8) | (378.2) | (959.3) |
Purchased consumables | (343.6) | (179.0) | (449.2) |
Other operating income and expenses | (211.3) | (109.6) | (280.3) |
Taxes and duties | (74.2) | (38.2) | (92.6) |
Rents | (139.1) | (72.6) | (175.7) |
EBITDA | 205.6 | 115.7 | 269.8 |
Depreciation | (109.5) | (54.0) | (130.8) |
Current operating profit | 96.1 | 61.7 | 139.0 |
Restructuring costs | (12.1) | (13.4) | (5.0) |
Result of the management of real estate and financial assets | 2.2 | -- | 1.5 |
Impairment of goodwill | -- | -- | (21.1) |
Other non-current income and expenses | (9.9) | (13.4) | (24.6) |
Operating profit | 86.2 | 48.3 | 114.4 |
Gross interest expenses | (28.8) | (19.0) | (43.5) |
Income from cash and cash equivalents | 0.4 | 0.8 | 0.6 |
Net interest expenses | (28.4) | (18.2) | (42.9) |
Other financial income | 0.2 | 0.2 | 0.1 |
Other financial expenses | (5.2) | (3.9) | (4.5) |
Other financial income and expenses | (5.0) | (3.7) | (4.4) |
Corporate income tax | (29.7) | (17.5) | (24.9) |
Share of net profit of associates | -- | -- | -- |
NET PROFIT FOR THE PERIOD | 23.1 | 8.9 | 42.2 |
Revenues and expenses recognised directly as equity | |||
- Retirement commitments | (3.1) | 1.7 | (2.0) |
- Change in fair value of hedging financial instruments | 5.5 | 4.1 | (20.4) |
- Translation differential | -- | -- | -- |
- Income tax on other comprehensive income | (0.3) | (2.2) | 7.7 |
Results recognised directly as equity | 2.1 | 3.6 | (14.7) |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | 25.2 | 12.5 | 27.5 |
PROFIT ATTRIBUTABLE TO (in million euros) | 2014 | From Jan., 1st 2015 to June, 30th 2015 | From July., 1st 2015 to June, 30th 2016 |
Group's share of net earnings | 19.7 | 4.9 | 36.9 |
Non-controlling interests | 3.4 | 4.0 | 5.3 |
NET PROFIT FOR THE PERIOD | 23.1 | 8.9 | 42.2 |
NET EARNINGS PER SHARE (in euros) | 0.35 | 0.09 | 0.49 |
NET DILUTED EARNINGS PER SHARE (in euros) | 0.35 | 0.09 | 0.49 |
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO (in million euros) | 2014 | From Jan., 1st 2015 to June, 30th 2015 | From July., 1st 2015 to June, 30th 2016 |
Group's comprehensive income for the period | 21.8 | 8.5 | 22.2 |
Non-controlling interests | 3.4 | 4.0 | 5.3 |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | 25.2 | 12.5 | 27.5 |
CONSOLIDATED BALANCE SHEET - ASSETS |
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( in million euros ) | 12-31-2014 | 06-30-2015 | 06-30-2016 |
Goodwill | 512.0 | 512.0 | 741.2 |
Other intangible fixed assets | 14.1 | 15.8 | 27.3 |
Tangible fixed assets | 681.2 | 661.8 | 921.9 |
Investments in associates | 0.3 | 0.3 | 0.6 |
Other long-term investments | 26.6 | 32.0 | 50.7 |
Deferred tax assets | 44.0 | 37.4 | 46.5 |
NON CURRENT ASSETS | 1,278.2 | 1,259.3 | 1,788.2 |
Inventories | 40.0 | 41.8 | 54.7 |
Trade and other receivables | 101.8 | 120.9 | 175.6 |
Other current assets | 143.5 | 168.1 | 206.8 |
Current tax assets | 3.3 | 2.3 | 14.4 |
Current financial assets | 1.9 | 2.2 | 1.3 |
Cash and cash equivalents | 101.0 | 120.1 | 112.8 |
Assets held for sale | 6.8 | 2.0 | -- |
CURRENT ASSETS | 398.3 | 457.4 | 565.6 |
TOTAL ASSETS | 1,676.5 | 1,716.7 | 2,353.8 |
CONSOLIDATED BALANCE SHEET - LIABILITIES AND EQUITY | |||
( in million euros ) | 12-31-2014 | 06-30-2015 | 06-30-2016 |
Share capital | 42.3 | 42.3 | 56.9 |
Additional paid-in capital | 4.2 | 4.2 | 71.2 |
Consolidated reserves | 219.9 | 243.2 | 236.4 |
Group's share of net profit | 19.7 | 4.9 | 36.9 |
Group's share of equity | 286.1 | 294.6 | 401.4 |
Non-controlling interests | 11.7 | 13.5 | 36.4 |
TOTAL SHAREHOLDERS' EQUITY | 297.8 | 308.1 | 437.8 |
Borrowings and financial debts | 812.7 | 806.9 | 1 110.0 |
Provisions for retirement and other employee benefits | 33.0 | 32.1 | 47.4 |
Non-current provisions | 22.8 | 24.6 | 26.2 |
Other long term liabilities | 5.8 | 1.5 | 23.2 |
Deferred tax liabilities | 62.3 | 61.6 | 81.0 |
NON CURRENT LIABILITIES | 936.6 | 926.7 | 1 287.8 |
Current provisions | 12.0 | 13.5 | 14.8 |
Accounts payable | 135.4 | 169.7 | 200.7 |
Other current liabilities | 240.6 | 246.3 | 340.0 |
Tax liabilities due | 5.1 | 4.5 | 17.9 |
Short-term borrowings | 49.0 | 47.9 | 54.8 |
Bank overdraft | --- | --- | --- |
Liabilities related to assets held for sale | --- | --- | --- |
CURRENT LIABILITIES | 442.1 | 481.9 | 628.2 |
TOTAL EQUITY AND LIABILITIES | 1 676.5 | 1 716.7 | 2 353.8 |
consolidated statement of changes in equity | ||||||||
(in million euros) | SHARE CAPITAL | ADDITION AL PAID IN CAPITAL | RESER- VES |
RESULTS RECOGNISED DIRECTLY AS EQUITY | TOTAL COMPRE- HENSIVE INCOME FOR THE PERIOD |
GROUP'S SHARE OF EQUITY |
NON CONTROLLING INTERESTS | SHARE-HOLDERS' EQUITY |
Shareholders' equity at December 31, 2013 | 42.3 | 64.6 | 234.1 | (5.9) | 111.3 | 446.4 | 11.3 | 457.7 |
Capital increase (including net fees) | -- | -- | -- | -- | -- | -- | -- | -- |
Treasury shares | -- | -- | -- | -- | -- | -- | -- | -- |
Stocks options and free share | -- | -- | -- | -- | -- | -- | -- | -- |
Prior year appropriation of earnings | -- | -- | 111.3 | -- | (111.3) | -- | -- | -- |
Distribution of dividends | -- | (60.4) | (121.2) | -- | -- | (181.6) | (3.5) | (185.1) |
Change in consolidation scope | -- | -- | (0.5) | -- | -- | (0.5) | 0.5 | -- |
Total comprehensive income for the period | -- | -- | -- | 2.1 | 19.7 | 21.8 | 3.4 | 25.2 |
Shareholders' equity at December 31, 2014 | 42.3 | 4.2 | 223.7 | (3.8) | 19.7 | 286.1 | 11.7 | 297.8 |
Capital increase (including net fees) | -- | -- | -- | -- | -- | -- | -- | -- |
Treasury shares | -- | -- | -- | -- | -- | -- | -- | -- |
Stocks options and free share | -- | -- | -- | -- | -- | -- | -- | -- |
Prior year appropriation of earnings | -- | -- | 19.7 | -- | (19.7) | -- | -- | -- |
Distribution of dividends | -- | -- | -- | -- | -- | -- | (2.2) | (2.2) |
Change in consolidation scope | -- | -- | -- | -- | -- | -- | -- | -- |
Total comprehensive income for the period | -- | -- | -- | 3.6 | 4.9 | 8.5 | 4.0 | 12.5 |
Shareholders' equity at June 30, 2015 | 42.3 | 4.2 | 243.4 | (0.2) | 4.9 | 294.6 | 13.5 | 308.1 |
Capital increase (including net fees) | 14.6 | 67.0 | -- | -- | -- | 81.6 | -- | 81.6 |
Treasury shares | -- | -- | -- | -- | -- | -- | -- | -- |
Stocks options and free share | -- | -- | -- | -- | -- | -- | -- | -- |
Prior year appropriation of earnings | -- | -- | 4.9 | -- | (4.9) | -- | -- | -- |
Distribution of dividends | -- | -- | -- | -- | -- | -- | (2.9) | (2.9) |
Change in consolidation scope | -- | -- | 3.0 | -- | -- | 3.0 | 20.5 | 23.5 |
Total comprehensive income for the period | -- | -- | -- | (14.7) | 36.9 | 22.2 | 5.3 | 27.5 |
Shareholders' equity at June 30, 2016 | 56.9 | 71.2 | 251.3 | (14.9) | 36.9 | 401.4 | 36.4 | 437.8 |
12-31-2014 | 06-30-2015 | 06-30-2015 | ||||||
Dividends per share (in euros including pre-distribution) | 3.22 | |||||||
Number of treasury shares | 25 301 | 25 301 | 25 301 |
statement of income and expenses recognised directly in equity | ||||||
( in million euros ) | 12-31-2014 | Income and expenses -Jan., 1st 2015 to June, 30th 2015 | 06-30-2015 | Income and expenses -July., 1st 2015 to June, 30th 2016 | 30-06-2016 | |
Translation differential | (0.3) | -- | (0.3) | -- | (0.3) | |
Retirement commitments | (3.5) | 1.1 | (2.4) | (1.3) | (3.7) | |
Fair value of hedging financial instruments | -- | 2.5 | 2.5 | (13.4) | (10.9) | |
Results recognised directly as equity (Group's share) | (3.8) | 3.6 | (0.2) | (14.7) | (14.9) |
CONSOLIDATED CASH FLOW STATEMENT |
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( in million euros ) | 2014 | From Jan., 1st 2015 to June, 30th 2015 | From July., 1st 2015 to June, 30th 2016 |
Total net consolidated profit | 23.1 | 8.9 | 42.2 |
Depreciation | 109.5 | 54.0 | 130.8 |
Other non-current income and expenses | 9.9 | 13.4 | 24.6 |
Share of net profit of associates | --- | --- | --- |
Other financial income and expenses | 5.0 | 3.7 | 4.4 |
Net interest expenses | 28.4 | 18.2 | 42.9 |
Corporate income tax | 29.7 | 17.5 | 24.9 |
EBITDA | 205.6 | 115.7 | 269.8 |
Non-cash items including provisions and reversals (transactions with no cash effect) | 3.5 | 1.6 | (1.2) |
Other income and expenses paid | (16.0) | (9.7) | (7.3) |
Changes in other long term assets and liabilities | (2.5) | (5.8) | 19.7 |
Cash flow before net interest expenses & taxes | 190.6 | 101.8 | 281.0 |
Corporate income tax paid | (22.9) | (13.7) | (18.1) |
Change in working capital requirements | (8.7) | (0.9) | (66.9) |
NET CASH FROM OPERATING ACTIVITIES: (A) | 159.0 | 87.2 | 196.0 |
Purchase of property, plant & equipment and intangible assets | (62.5) | (35.8) | (109.0) |
Proceeds from sale of tangible and intangible assets | --- | --- | 1.0 |
Purchase of financial assets | (0.1) | --- | (112.0) |
Proceeds from the disposal of financial assets | 0.7 | --- | 1.6 |
Dividends from non-consolidated companies | 0.3 | 0.2 | 0.1 |
NET CASH USED FOR INVESTING ACTIVITIES: (B) | (61.6) | (35.6) | (218.3) |
Capital increase: (a) | --- | --- | --- |
Capital increase performed by subsidiaries subscribed to by third parties (b) | --- | --- | --- |
Exceptional distribution of additional paid-in capital (c) | --- | --- | --- |
Dividends paid to GDS shareholders: (d) | (181.6) | --- | --- |
Dividends paid to minority interests of consolidated companies: (e) | (3.5) | (2.2) | (2.9) |
Net interest expense paid : (f) | (28.4) | (19.4) | (42.9) |
Debt issue costs : (g) | (25.9) | --- | --- |
Cash flow before repayment of borrowings: (h) = (A+B + a + b + c + d + e + f + g) |
(142.0) | 30.0 | (68.1) |
Increase in borrowings : (i) | 698.2 | 5.6 | 329.1 |
Repayment of borrowings : (j) | (432.0) | (16.5) | (268.3) |
NET CASH USED FOR FINANCING ACTIVITIES: (C) = a + b + c + d + e + f + g + i + j |
26.8 | (32.5) | 15.0 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS: ( A + B + C ) |
124.2 | 19.1 | (7.3) |
Cash and cash equivalents at beginning of period | (23.2) | 101.0 | 120.1 |
Cash and cash equivalents at end of period | 101.0 | 120.1 | 112.8 |
Net indebtedness at beginning of period | 610.3 | 758.1 | 729.3 |
Cash flow before repayment of borrowings: (h) | 142.0 | (30.0) | 68.1 |
Capitalization of financial leases | 35.3 | 6.5 | 16.9 |
Loan issue charges fixed assets (old) | 3.4 | --- | -- |
Loan issue charges fixed assets (new) | (24.8) | 2.2 | 4.3 |
Assets held for sale | 1.6 | (4.9) | (2.0) |
Fair value of financial hedging instruments | (4.0) | (2.5) | 13.6 |
Change in scope of consolidation and other | (5.7) | (0.1) | 216.8 |
Net indebtedness at end of period | 758.1 | 729.3 | 1 047.0 |
MAIN OPERATING INDICATORS FROM THE PROFIT AND LOSS ACCOUNT OF THE COMBINED ENTITIES GENERALE DE SANTE AND RAMSAY SANTE - 12 MONTH BASIS - Unaudited |
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( in million euros ) | From July., 1st 2014 to June, 30th 2015 | From July., 1st 2015 to June, 30th 2016 | Changes |
TURNOVER | 2 123.6 | 2 141.2 | +0.8% |
Personnel expenses and profit sharing | (953.2) | (960.2) | |
Purchased consumables | (413.8) | (424.8) | |
Other operating income and expenses | (239.6) | (238.5) | |
Taxes and duties | (91.9) | (88.2) | |
Rents | (166.0) | (169.4) | |
EBITDA | 259.1 | 260.1 | +0.4% |
As % of Turnover | 12.2% | 12.1% | |
Depreciation | (125.8) | (125.3) | |
Current operating profit | 133.3 | 134.8 | +1.1% |
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: RAMSAY GENERALE DE SANTE via Globenewswire
2321 Rosecrans Avenue. Suite 2200
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