ORPEA: Steep Rise in 2012 Sales: Up 15.8% to €1,429Million
2013 EXPECTED TO BE ANOTHER YEAR OF GROWTH AND PROFITABILITY
*SALES TARGET OF €1,600MILLION
FURTHER DEVELOPMENTS IN INTERNATIONAL MARKETS
PUTEAUX, France -- February 13, 2013
ORPEA (Paris:ORP), the leading European player in Long-Term Care (nursing
homes), Post-Acute Care and Psychiatric Care, has today announced its sales
for the fourth quarter and for the 2012 financial year ended on 31 December
In €m Full-year Quarterly
IFRS 2012 2011 Var. Q4 2012 Q4 2011 Var.
France 1,227.4 1,094.3 +12.2% 318.3 294.3 +8.1%
% of total sales 86% 89% 84% 90%
International 201.7 139.8 +44.3% 59.5 33.9 +75.5%
% of total sales 14% 11% 16% 10%
Belgium 104.6 67.5 33.5 16.4
Spain 50.4 30.6 13.7 7.6
Italy 31.3 26.9 8.3 6.9
Switzerland 15.3 14.8 4.0 3.0
Total sales 1,429.0 1,234.1 +15.8% 377.7 328.2 +15.1%
Organic growth^1 +8.2% +8.0%
^1 Organic growth reflects the following factors: 1. the growth in sales (in
period n vs. period n-1) of existing facilities as a result of changes in
their occupancy rates and daily rates, 2. the growth in sales (in period n vs.
period n-1) of restructured facilities or those with capacity increased during
period n or n-1, and 3. sales generated in period n by facilities set up in
period n or n-1. Organic growth includes the improvement in sales recorded at
recently-acquired facilities by comparison with the previous equivalent
Strong growth in 2012 sales
Yves Le Masne, CEO of the ORPEA group, commented: “ORPEA posted a remarkable
performance in 2012, with sales rising by 15.8% to reach a record level of
€1,429million, beating the guidance of €1,425million announced in November
In a gloomy economic environment, ORPEA continued to deliver very healthy
organic growth of 8.2%, representing a record increase in sales of more than
€100million, owing in particular to the opening of 2,150 beds in 2012.
Outside France, business was boosted by the strategic acquisitions completed
in 2012. During the fourth quarter, international revenues grew by 75% to
represent 16% of consolidated sales.
This performance will lead to higher margins and cash flow, especially as a
result of the ramp-up in the number of beds now at maturity, while the Group’s
debt is tightly controlled, managed effectively and highly diversified.”
Growth prospects and jobs to be created in 2013
ORPEA is set to keep its momentum going in 2013, by opening another 2,000 beds
at some 20 or so facilities, all situated in high-quality locations.
ORPEA will open new facilities at locations including Nantes, Guérande, Saint
Laurent du Var, La Garenne Colombes, Le Cannet, Lyon and Chamalières, as well
as in Nyon, Switzerland.
Thanks to this active development policy and after having created over 7,000
jobs in the past five years, ORPEA is set to maintain its commitment to the
regional economies by creating 1,200 sustainable jobs in the caring,
residential and administrative sectors during 2013.
The Group intends to keep this first-class growth momentum going during 2013
and confidently expects to generate sales of €1,600million (up 12%, including
brisk organic growth), together with strong margins.
Further developments in international markets
In line with its strategy of international expansion, the Group completed
deals on attractive terms in Belgium and Italy, representing 1,100 in new beds
that will add significant value.
ORPEA acquired 900 beds in Flanders, to speed up its expansion in this region
blighted by a major shortage of facilities for the dependent elderly. This
acquisition has tremendous potential, with 300 beds operational and another
600 beds under construction.
In Italy, the Group is also expanding its network with the acquisition of two
facilities in the Turin region, representing 200 beds.
Dr Jean-Claude Marian, ORPEA’s Chairman, ended by saying: “ORPEA has delivered
another year of remarkable growth, thanks in particular to the new facilities
opened in France and expansion of its international network.
This first-class momentum will carry through into 2013 and future years. In a
sector in which demand for high-quality care for dependent individuals is
growing tremendously right across Europe, ORPEA boasts unique strengths:
*Growth potential of close to 8,000 beds under construction and being
restructured, which is regularly topped up to secure its future expansion;
*Recognition of its know-how, particularly its ability to support people
suffering from neurodegenerative disorders, and pan-European expertise;
*Its ability to invest and create jobs.
As demonstrated by the recent deals in Flanders and Italy, ORPEA is actively
pursuing its value-creating expansion in international markets.
In France, the sector faces major challenges, with the growth in the
population of the very elderly and the need to renovate close to 116,000 beds
(i.e. 17% of current capacity), according to a public report by the Caisse
Nationale de la Solidarité pour l’Autonomie), which will cost an estimated
€11.7billion (excluding land).”
Key dates for investors
The following dates are subject to change. Press releases will be published
before the market opens.
Full-year 2012 results Wednesday, 27 March 2013
First-quarter 2013 sales Tuesday, 30 April 2013
First-half 2013 sales Wednesday, 17 July 2013
Interim 2013 results Wednesday, 11 September 2013
About ORPEA (www.orpea-corp.com)
Listed on Euronext Paris since April 2002 and a member of the Deferred
Settlement Service, the ORPEA group is the leading European player in the
Long-Term Care and Post-Acute Care sectors.
At 31 July 2012, the Group had a unique European network of healthcare
facilities with 38,348 beds (33,317 of them operational) at over 410 sites,
*28,819 beds in France: 25,340 operational (including 2,296 being
renovated) + 3,479 under construction, at 333 facilities,
*9,529 beds in Europe (Spain, Belgium, Italy and Switzerland): 7,977
operational (including 754 being renovated) + 1,552 under construction, at
Listed on Euronext Paris Compartment of NYSE Euronext
Member of the CAC Mid 60 and SBF 120 indices - Member of the SRD
ISIN: FR0000184798 - Reuters: ORP.PA - Bloomberg: ORP FP
Jérôme Goaër, +33 (0)1 44 82 46 24
Yves Le Masne
Steve Grobet, +33 (0)1 47 75 74 66
Investor Relations Officer
Dusan Oresansky / Emmanuel Huynh, +33 (0)1 44 71 94 94
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