1st Semester Results 2017
IASO GROUP: 1st SEMESTER RESULTS 2017
TURNOVER AND PROFIT INCREASES
FOR IASO MOTHER COMPANY & IASO GROUP
- For the Group, Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) continued their rising trend and amounted to 16.33 million Euros, thusly increasing by 44.68%
- The Mother Company’s Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA), continued their rising trend and amounted to 19.83 million Euros, showing an increase of 24.07%
The Group’s turnover, following the implementation of the rebate and claw-back mechanisms, amounted to 61.42 million Euros, showing an increase of 4.04%, compared to the respective semester in 2016 when it amounted to 59.03 million Euros. Similarly, IASO Mother Company’s turnover was 34.72 million Euros, compared to the respective semester in 2016 when it amounted to 34.18 million Euros.
The Group’s gross profit, following the implementation of the rebate and claw-back mechanisms, reached 15.12 million Euros over 9.62 million Euros for the same period in 2016, reflecting an increase of 57.07%. Similarly, the Mother Company’s gross profit also increased by 27.87% and reached 11.17 million Euros over 8.74 million Euros for the respective period in 2016.
EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTIZATION (EBITDA)
For the Group, Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) amounted to 16.33 million Euros, showing an increase of 44.68% over 11.29 million Euros for the respective period in 2016. Similarly, the Mother Company’s Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) also showed an increase of 24.07% which amounted to 12.36 million Euros over 9.96 million Euros for the respective period in 2016.
EARNINGS BEFORE IN INTEREST & TAXES (EBIT)
For the Group, Earnings Before Interest & Tax (EBIT) showed a significant increase and reached 11.46 million Euros over 6.10 million Euros for 2016, whereas for the Mother Company, Earnings Before Interest & Tax (EBIT) also increased and amounted to 10.03 million Euros over 7.58 million Euros for 2016.
The Chairman of the Group, Dr Georgios Stamatiou commented on the results: “We are particularly pleased with the financial results of our Group’s companies, considering the circumstances under which they were achieved, and the burdens born by EOPYY’s (Greek National Organization for the Provision of Health Services) interventions and cuts. The results reflect our commitment to the values that helped us and continue to help us rank first. Namely, our values are: a) politeness & friendliness, b) commitment & care, c) professionalism, d) decency, and e) respect to the individual needs of our patients.
The results confirm the integrity and validity of our strategic goals, which are to: a) preserve and increase of our market share in areas of comparative advantage and services in high demand, b) search for innovative services through partnerships with foreign entities breaking ground and evolving medical science and c) ensure lower and competitive prices by shrinking operational costs and cooperating with other contractors.
A key pillar of our Group’s strategy is Social Corporate Responsibility. For us, it is always the man before the patient. For us, it is always the provision of top quality healthcare services. And in this framework, even in these difficult days, the concept of social corporate responsibility is truly essential. Through the “by your side” program, which integrates all of our important activities, we will continue to embrace all those who are in real need. And I stress here our Group’s responsibility, concern and offer to the society, through the environmental policy we apply.
I take the opportunity to request that all members of IASO family remain committed to the same goals in the days ahead, and I emphasize the fact that our relationship with the physicians, shareholders, staff, executives and patients will always be the secret formula for our success.”
Please see below the table with the economic data of the Group and the mother company.
The financial statements shall be posted on the websites of the Athens Stock Exchange (www. helex.gr) and IASO Group (www.groupiaso.gr)