ATHENS MEDICAL GROUP: 12-month results 2019
The Athens Medical Group, consistently following the upward trend of previous years, improved its financial figures in 2019.
On a consolidated basis, after rebate & clawback, the Group’s financial figures are as follows:
- Consolidated Turnover amounted to 197.3 million euros, an increase of 8%.
- EBITDA amounted to 27.7 million euros, an improvement of 15% compared to the previous year.
- EBITDA recorded an increase of 14% and amounts to 10.8 million euros.
The Company’s financial figures are as follows:
- Turnover amounted to 190.7 million euros, an increase of 8%.
- EBITDA amounted to 27.7 million euros. 23.5 million, increased by 10%, compared to the corresponding EBITDA of 2018.
- Profits before Taxes recorded an increase of 21% and amounted to euro 6.9 million.
The total number of employees in the Group was 3,105 people (3,013 in 2018), showing an increase of 3% and paid for payroll expenses, contributions and taxes to public and social security funds, in total, in euro 74 million.
The Company’s Bond Loan was reduced by euro 10 million, while the Company has already received approval to extend the bond loan by 12 months (i.e. until July 5, 2021) with more favorable terms, as the interest rate was reduced by 75 basis points.
The extension of the existing bond loan was granted because the restructuring was delayed due to the pandemic, while it is expected to be completed in the coming months, as negotiations are ongoing.
On the occasion of the announcement of the 2019 financial results, the CEO of the Athens Medical Group, Dr. Vasilis Apostolopoulos, stated: “Despite the ongoing rebate & clawback measures, the Athens Medical Group continues its upward trajectory, a product of its sound strategy and choices, but mainly of the continued trust of its patients, Greeks and non-Greeks. In an unprecedented crisis environment, at a global level, we are the first to set an example of contribution and responsibility in private healthcare even in the most difficult times. As in 2019, we continue dynamically in 2020, remaining the largest Greek healthcare hub. We utilize human resources, strengthening the “Brain Gain” in our country, investing in cutting-edge technology and maintaining our leading role, establishing the Group at the forefront of international and domestic developments.
For more press information:
Savvas Karagiannis, Communications Manager, General Directorate of Business Development of Iatriko Athens Group
Tel.: 210 6287236, E-mail: s.karagiannis@iatriko.gr
