Brief: Korian Expects Organic Growth Of More Than 8% In 2023

Clariane SE

21/02/2023 17:44

Feb 21 (Reuters) - Korian SE  KORI.PA :
    * KORIAN DELIVERED SOLID RESULTS IN 2022, WITH A 6.2%
ORGANIC
GROWTH AND A 13.4% EBITDA MARGIN
    * 2022  EBITDAR OF EUR 1,091 MILLION (MARGIN RATE AT 24.1%)
AND
EBITDA OF EUR607 MILLION (MARGIN RATE 13.4%)
    * END-FY STRONG CASH GENERATION WITH EUR 371 MILLION OF FREE
CASH
FLOW, DUE TO IMPROVING WORKING CAPITAL REQUIREMENT
    * 2022 NET RESULT OF PURSUED ACTIVITIES OF EUR 66.9 MILLION
INCLUDING NON-RECURRING COSTS RELATED TO THE TRANSFORMATION PLAN
    * PROPOSED DIVIDEND: DISTRIBUTION OF EUR 0.25 PER SHARE
REFLECTING
A 50% PAYOUT RATIO (PRE-IFRS16)
    * ALIGNMENT OF INVESTMENT POLICY WITH SELF-FINANCING
CAPACITY FROM
2024 ONWARDS. THE GROUP’S FINANCIAL LEVERAGE IS EXPECTED TO BE
BELOW 3.5X IN 2023, AND AT AROUND 3X IN 2024 AND 2025
    * EXPECTED ORGANIC GROWTH OF REVENUE MORE  THAN 8% IN 2023
AND
MORE THAN 5% IN 2024-2025
    * EBITDAR STABLE IN 2023, GROWING IN 2024 AND 2025 IN LINE
WITH
REVENUE

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