Wednesday, April 29, 2015

Profit from José de Mello Health rises 30% to EUR 16.4 million – Jornal de Negócios – Portugal

The José de Mello Saúde had profits of € 16.4 million last year, an increase of 30% compared to 2013. Operating income for the first time surpassed the barrier of 500 million euros, while EBITDA rose to 58 6 million euros.

The José de Mello Saúde closed 2014 with profits of 16.4 million euros, representing an increase of 30% compared to 2013.

Consolidated operating income increased 7% to 532.1 million euros, driven by the growth of private health care activity (+ 8.6%) as well as the public health care segment (+ 5.4%), according to a statement released on Wednesday by the company led by Salvador de Mello.

“For the first time in the history of José de Mello Saúde consolidated operating income exceeded the barrier of 500 million euros, “said the Chairman of the Group Management.

The EBITDA (earnings before amortization, depreciation, interest and taxes) was in 58.6 million euros, an increase of 30.2 % over the same period.

“Notes to greater efficiency at the operational level in 2014, starting to obtain the benefits of the efforts of recent years, which allowed the José de Mello Saúde increased net results and an improvement in EBITDA which was reflected in the margin grew 1.9 percentage points to 11%, “adds Salvador de Mello.

Last year CAPEX (capital expenditure) of José de Mello Saúde stood at 80.7 million euros, divided between real estate investment (64.3 million) and investment in buildings and equipment (EUR 16.6 million).

“The high value of real estate investing, real estate resulted from the acquisition transaction, Hospital CUF Discoveries and Hospital CUF Infante Santo,” explains the company and emphasizes that “despite the high investment, the consolidated net debt increased by only 23 4 million euros compared to 2013 “, standing now at 102 million euros.

Over the past year the group’s hospitals performed about 1.8 million queries, which translates an increase of 14% compared to 2013.

The José de Mello Health has announced plans to proceed with the construction of a new hospital in Lisbon, an estimated investment of 100 million euros. The new facility will be located in Alcântara, foreseeing opening to the public in 2018

In this project added the expansion of CUF Discoveries Hospital, the release of CUF Hospital Viseu -. Which will be available at the beginning of the year 2016 -. and the acquisition of Santarém Private Hospital

In September last year, the José de Mello also entered the race to buy the Holy Spirit Health, owner of Hospital da Luz, which ended up in the hands of Fidelity insurance.

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