Orpea- 2H17 - Strong sales dynamics; lower real estate spending should help deleveraging
Orpea, the French nursing home operator, held a conference call today to comment on satisfactory 2H17 results. Once again, the group outperformed its main competitor Korian in terms of sales dynamics and profitability. Orpea had previously published solid 2H17 sales figures, which showed a rise of 10.4% yoy to €1.59bn, including 5.4% of organic growth (vs. 2.3% for Korian) and 5.1% from bolt-on acquisitions.
ORPEA is a dependency, physical and psychiatric care group based in France. Co. operates long-term and short-term care facilities, including medical care facilities, medical and social care facilities and residential facilities for the elderly. Co. provides short, medium and long-term global physical and mental dependency care. Co. also operates residential facilities for disabled people of any age, hotels, and hotel-related, as well as leisure accommodation facilities. Co. operates in France and abroad (Belgium, Italy, Spain and Switzerland) in three business segments: Long-term care facilities (nursing homes); Post-acute and Rehabilitation care facilities; and Psychiatric care facilities.
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