Medicover AB

MCOV B

Equity

ISIN SE0009778848 / Valor 36765439

NASDAQ Nordic Exchange Stockholm, Equities (2025-04-04)

SEK 196.80-4.00%

Medicover AB
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About company

Medicover AB is a healthcare and diagnostic service provider with a significant presence in Central and Eastern Europe and India. The company operates through two main divisions: Diagnostic Services and Healthcare Services. Its Diagnostic Services division offers a wide array of laboratory testing across various clinical pathology areas, operating through a network of 118 laboratories, 892 blood-drawing points, and 27 clinics, with its largest markets in Germany, Romania, Poland, and Ukraine. On the other hand, the Healthcare Services division provides comprehensive care through an Integrated Healthcare Model and Fee-For-Service, encompassing 180 medical clinics, 40 hospitals, 113 dental clinics, 30 fertility clinics, 40 optic showrooms, 15 mental health centres, 50 pharmacies, and 133 gyms, primarily serving Poland, India, and Romania. Medicover's business model focuses on delivering high-quality care and diagnostic services to meet the diverse needs of its markets.

Summarized from source with an LLMView SourceSector: Healthcare

Revenue Growth

In the third quarter of 2024, Medicover AB reported a significant increase in revenue, reaching €527.8 million, which represents a 19.8% growth compared to the same period in 2023. This growth was primarily driven by strong organic growth of 17.4%, with acquired revenue contributing €3.8 million to the total.

EBITDA Performance

Medicover AB's EBITDA for Q3 2024 increased by 14.1% to €73.9 million, with a margin of 14.0%. The adjusted EBITDA was €77.3 million, reflecting a margin of 14.6%. Despite an impairment charge impacting EBIT, the company showed improved underlying profitability.

Healthcare Services Segment

The Healthcare Services segment of Medicover AB experienced a revenue growth of 21.7% in Q3 2024, reaching €370.9 million. This growth was supported by an 18.3% organic increase, with the Polish business and maturing hospitals contributing to improved profitability.

Diagnostic Services Segment

In the Diagnostic Services segment, Medicover AB reported a revenue increase of 15.5% to €162.8 million in Q3 2024. The growth was driven by a 15.3% organic increase, with strong performance in Germany and Fee-For-Service (FFS) markets, leading to improved margins.

Cash Flow and Financial Position

Medicover AB's operating cash flow for Q3 2024 rose by 25% to €72.3 million. The company's leverage ratio decreased to 3.1x, despite cash outflows for acquisitions. The effective tax rate for the year is projected at 26.0%, and the company continues to reinvest in growth through organic capital expenditure.

Summarized from source with an LLMView Source

Key figures

40.8%1Y

-6.73%3Y

132%5Y

Performance

34.7%1Y

41.8%3Y

43.7%5Y

Volatility