Georgia Healthcare Group PLC Announces 3rd Quarter Results
ACCESSWIRE
13 Nov 2019, 17:01 GMT+10
Third quarter and Nine-Month 2019 Results
LONDON, UK / ACCESSWIRE / November 13, 2019 / GHG announces today the Group's 3Q19 and 9M19 consolidated results, reporting 13.0% y-o-y growth in nine-month revenues to GEL 703.3 million (US$238.0 million/GBP 193.7 million) and a 50 basis point improvement in adjusted ROIC2. The Group posted nine-month profit of GEL 46.0 million (US$15.6 million/GBP 12.7 million) and adjusted earnings per share1 ('EPS') of GEL 0.27 (US$0.09 per share/GBP 0.07 per share), both excluding IFRS 16 lease accounting impact.
In order to permit meaningful comparisons between reporting periods, in the table below Net Profit, EBITDA, EBITDA margin and EPS data, for GHG as well as for each segment, exclude IFRS 16 financial impact. For the same reason, the discussions throughout this report of 2019 quarterly and nine-month results for the Group and each business line also focus on the numbers excluding the IFRS 16 impact. Each financial table, on the other hand, shows both - the results with and without IFRS 16 impact. We are adopting this convention for 2019 only because 2018 figures have not been restated on an IFRS 16 basis.
GEL million; unless otherwise noted | 3Q19 | 3Q18 | Change, Y-o-Y | 9M19 | 9M18 | Change, Y-o-Y | ||||||||||||||||||
The Group | ||||||||||||||||||||||||
Revenue, gross | 230.5 | 202.9 | 13.6 | % | 703.3 | 622.4 | 13.0 | % | ||||||||||||||||
EBITDA excluding IFRS 16 | 36.6 | 32.7 | 11.9 | % | 111.4 | 95.4 | 16.8 | % | ||||||||||||||||
Net Profit excluding IFRS 16 | 14.7 | 9.7 | 52.6 | % | 46.0 | 38.0 | 21.0 | % | ||||||||||||||||
EPS adjusted1, GEL excluding IFRS 16 | 0.08 | 0.07 | 23.8 | % | 0.27 | 0.21 | 29.7 | % | ||||||||||||||||
ROIC adjusted2 (%) | 14.2 | % | 14.0 | % | 0.2ppts | 14.3 | % | 13.8 | % | 0.5ppts | ||||||||||||||
Hospitals business | ||||||||||||||||||||||||
Revenue, gross | 68.7 | 64.1 | 7.1 | % | 217.7 | 196.2 | 10.9 | % | ||||||||||||||||
EBITDA excluding IFRS 16 | 16.8 | 16.4 | 2.6 | % | 54.8 | 50.9 | 7.7 | % | ||||||||||||||||
EBITDA margin (%) excluding IFRS 16 | 24.5 | % | 25.6 | % | -1.1ppts | 25.2 | % | 26.0 | % | -0.8ppts | ||||||||||||||
Net Profit excluding IFRS 16 | 3.1 | 3.4 | -7.6 | % | 13.2 | 13.8 | -4.9 | % | ||||||||||||||||
Clinics business | ||||||||||||||||||||||||
Revenue, gross | 10.6 | 8.9 | 18.6 | % | 32.5 | 28.3 | 15.0 | % | ||||||||||||||||
EBITDA excluding IFRS 16 | 1.8 | 1.2 | 46.3 | % | 5.8 | 4.0 | 45.3 | % | ||||||||||||||||
EBITDA margin (%) excluding IFRS 16 | 16.9 | % | 13.7 | % | 3.2ppts | 17.7 | % | 14.0 | % | 3.7ppts | ||||||||||||||
Net Profit excluding IFRS 16 | (0.7 | ) | (1.0 | ) | -37.4 | % | (1.2 | ) | (2.6 | ) | -52.2 | % | ||||||||||||
Pharmacy and distribution business | ||||||||||||||||||||||||
Revenue | 146.8 | 123.3 | 19.0 | % | 442.0 | 377.5 | 17.1 | % | ||||||||||||||||
Gross profit margin (%) | 25.7 | % | 26.1 | % | -0.4ppts | 25.3 | % | 25.1 | % | 0.2ppts | ||||||||||||||
EBITDA excluding IFRS 16 | 15.2 | 12.4 | 22.5 | % | 46.1 | 37.0 | 24.7 | % | ||||||||||||||||
EBITDA margin (%) excluding IFRS 16 | 10.4 | % | 10.1 | % | 0.3ppts | 10.4 | % | 9.8 | % | 0.6ppts | ||||||||||||||
Net Profit excluding IFRS 16 | 10.0 | 5.2 | 91.4 | % | 30.4 | 24.5 | 24.1 | % | ||||||||||||||||
Medical insurance business | ||||||||||||||||||||||||
Net insurance premiums earned | 19.4 | 14.2 |
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