Clariane

Latest Results (13.09.2025):

Clariane reported its first-half 2025 financial results, showcasing a strengthened financial position ahead of schedule. The company successfully executed its €1.5-billion plan, achieved increased revenue, and confirmed its guidance for the full year despite challenges in the French market.

Financial Position Strengthened

Clariane completed its €1.5-billion financial strengthening plan six months early, achieving €1 billion in disposals with an average multiple of approximately 14x 2024 EBITDA. The company reduced net debt by €212 million, lowering the Wholeco leverage ratio to 5.6x proforma, and successfully issued €400 million in unsecured bonds, over three times oversubscribed.

Revenue Growth

Revenue for the first half of 2025 reached €2,656 million, marking a 4.8% organic increase. Growth was supported across all business lines and regions, aligning with the full-year target and demonstrating robust business momentum despite regional challenges.

Operational Performance

EBITDAR pre-IFRS 16 remained stable at €546 million, while EBITDA pre-IFRS 16 saw a slight decline of 4.1% to €263 million. The decrease was primarily due to the introduction of France’s new pricing structure for medical services, which temporarily impacted financial performance.

Net Result and Earnings

Clariane reported a net loss of €47 million pre-IFRS 16, compared to a €28 million loss in the first half of 2024. Post-IFRS 16, the net loss was €59 million, reflecting costs associated with disposals and business portfolio refocusing activities.

Outlook and Guidance

The company expects 2025 revenue to grow by around 5% organically and anticipates further reductions in net debt, targeting a Wholeco leverage ratio below 5.5x by year-end. Clariane remains committed to operational discipline and strategic adjustments to navigate ongoing market challenges.