STOCKHOLM, Sweden, Aug. 17, 2005 (PRIMEZONE) -- Medicover:
-Revenue for the second quarter amounted to 14.1 million Euro ( 10.1 million Euro), representing 40 percent (15 percent) revenue growth versus the corresponding period last year. Excluding the acquisition effect, the growth was 36 percent.
- Revenue for the first 6 months amounted to 27.4 million Euro (19.8 million Euro), 38 percent (12 percent) growth versus last year. Excluding the acquisition effect, the growth was 35 percent.
- Constant currency growth versus last year for the first 6 months amounted to 25 percent, up from 21 percent for the same period last year and excluding acquisitions 22 percent (15 percent).
- The substantial membership growth continued in the second quarter with 13,700 (4,600) new members enrolled over the quarter and over the first 6 months 25,400 new members (9,600) were enrolled, bringing the total member-base to 165,300 (126,600) at mid year, a 31 percent (19 percent) increase versus the prior year level.
- The laboratory division continued to report strong growth with second quarter revenue of 2.7 million Euro and 5.6 million Euro for the 6 months (excluding inter-segment revenue), an increase of 44 percent and 53 percent respectively versus last year, of which 23 and 34 percent was organic growth.
- The operating profit (EBIT) for the second quarter amounted to 0.5 million Euro (loss 0.1 million Euro) and for the first half to 0.9 million Euro (loss 0.3 million Euro).
- The operating profit before depreciation and amortization (EBITDA) amounted to 1.3 million Euro or 9.3 percent of revenue ( 0.6 million Euro or 6.4 percent of revenue) for the second quarter and to 2.4 million Euro or 8.9 percent of revenue (1.3 million Euro or 6.5 percent of revenue) for the 6 months.
- The profit after tax for the quarter amounted to 41,000 Euro (loss 0.5 million Euro) and for the 6 months to 0.1 million Euro (loss 0.7 million Euro)). The profit per share was 0.003 Euro for the quarter (loss 0.044 Euro) and 0.006 Euro (loss 0.058 Euro) for the 6 months.
- After the end of the reporting period, an acquisition of a Polish laboratory business was completed, which will approximately double the size of the existing laboratory operations in Poland.
- The rights-issue was fully subscribed, with demand more than twice the available number of shares, raising additional equity for the company of 11.7 million Euro before issue costs.
- After the end of the reporting period, we announced a partnership with an international hospital management company to assist the development of the Polish private hospital market.
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