AEVIS Holding SA
- WKN: 925444
- ISIN: CH0012488190
- Land: Schweiz
Nachricht vom 30.04.2012 | 07:20
Genolier Swiss Medical Network (GSMN): 2011 Results: Increase in Turnover and Profit - EBITDA and Operating profits strongly increased due to organic growth
Genolier Swiss Medical Network (GSMN) / Key word(s): Final Results/Final Results 30.04.2012 07:20 Release of an ad hoc announcement pursuant to Art. 53 KR --------------------------------------------------------------------------- Genolier Swiss Medical Network (GSMN) today published its 2011 Annual Report. Consolidated turnover increased by 6.43% to CHF 200.8 million (CHF 188.7m). EBITDA increased by 58.6% to CHF 24.03 million (CHF 15.2m) and profit from operating activities increased six-fold to CHF 8.25 million (CHF 1.4m). These results reflect a strong improvement in the operational profit and an increase in turnover due essentially to organic growth. In spite of non-recurring expenses related to the introduction of Swiss Diagnosis Related Groups (SwissDRGs), this year GSMN displays a net profit of CHF 0.54 million versus a loss of CHF 7.1 million in 2010. GSMN is the only group of private clinics in the three linguistic regions of Switzerland, and it expects revenues in excess of CHF 300 million in 2012. GSMN, the national group of private clinics, achieved a turnover of CHF 200.8 million in 2011, an increase of 6.43% compared to 2010. EBITDA increased by 58.6% to CHF 24.03 million, reflecting an improvement in profitability following rationalisation efforts. Profit from operating activities was CHF 8.25 million. The low net result of CHF 0.54 million is due to non-recurring expenses related to the introduction of Swiss DRGs. Operating cash flow grew by 53% to CHF 17.9 million. Costs associated with the management of the network remained stable compared to 2010 at 4.1% of turnover. However, the integration of three new clinics acquired in 2012 will not necessitate an increase in resources, reducing overhead to less than 3% in 2012. These clinics were acquired following an increase in capital in December 2011 that strengthened the equity of the Group. All entities increased in 2011, within a range of 3.5% to 22%, with the exception of Bethanien, where business was affected by construction work on the car park. The smaller entities such as the Centre médico-chirurgical des Eaux-Vives and Clinique Valmont achieved the highest growth. The Group still has important expansion capacity for organic growth and is putting the emphasis on hiring new certified doctors and on preventive medicine. With the recent acquisitions in early 2012 of the Obach, Ars Medica and Sant'Anna clinics, GSMN is now the only group of clinics established in the three linguistic regions of Switzerland. With its partners and the cantonal healthcare authorities, GSMN has been striving to find sustainable and well-balanced solutions to keep costs under control while maintaining an impeccable level of quality. With these new acquisitions, the Group aims for a turnover in excess of CHF 300 million in 2012. Important medical and economic synergies are expected and the position of the GSMN clinics will become stronger. As these clinics mature, the profitability of GSMN will approach that of other actors in the field by 2014. In the first trimester of 2012 business is in line with the road map and confirms the positive trend of last year. All the establishments experienced a considerable boost in activity and have aligned their billing procedures with the new cantonal systems. The Group is continuing its growth strategy based on the acquisition of clinics and the restructuring of their operations. Other acquisitions are being studied, and discussions with the Hôpital de la Providence in Neuchâtel are ongoing. The Group's management team, consisting of Raymond Loretan, Executive Chairman, Antoine Hubert, Managing Director, Beat Röthlisberger, CEO, Valérie Dubois-Hequet, General Manager and Guy Reynard, CSO, was reinforced on January 1, 2012 with the nomination of Romain Boichat as COO. Mr Ayhan Güzelgün, CFO of GSMN, decided to pursue a new professional opportunity and has left the group. He will be replaced as of May 1st, 2012 by Mr Gilles Frachon. Since 1997, Mr Gilles Frachon has been CFO of Maragest SA, a holding company of Michel Reybier. He was Financial Director of Groupe Aoste and General Director of Fournier Holding, founder of the Carrefour supermarkets. GSMN will benefit from Gilles Frachon's industry and financial experience to carry out its vision. The 2011 Annual Report is available on the following link: http://ir.gsmn.ch/genolierswiss/pdf/GSMN_AR_2011.pdf Genolier Swiss Medical Network SA (GSMN) is the second largest network of private clinics in Switzerland. Its growth strategy focuses on the creation of a national network through the acquisition of clinics and the restructuring of their operations. GSMN's main objective is to offer first class hospital care to Swiss and foreign patients. The distinctive features of GSMN include its high quality services, its brand value, a pleasant working environment and an experienced management team with an entrepreneurial approach. GSMN operates 10 private establishments in Switzerland (Clinique de Genolier, Clinique de Montchoisi, Clinique Valmont, Clinique Générale, Centre médico-chirurgical des Eaux-Vives, Ars Medica Clinic, Clinica Sant'Anna, Privatklinik Bethanien, Privatklinik Lindberg and Privatklinik Obach), with around 1'000 admitting physicians and 2'000 employees. The Group is listed on the Domestic Standard of the SIX Swiss Exchange (GSMN:SW). For further information: Séverine Van der Schueren Secretary General Tel. +41 22 366 99 87 firstname.lastname@example.org 30.04.2012 News transmitted by EquityStory AG. The issuer is responsible for the contents of the release. EquityStory publishes regulatory releases, media releases on the capital market and press releases. The EquityStory Group distributes authentic and real-time financial news for over 1'300 listed companies. The Swiss news archive can be found at www.equitystory.ch/news ---------------------------------------------------------------------------
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