MedLife announces a 27% increase in consolidated pro forma turnover in the first semester of this year

• MedLife (BSE: M) continues to be on an upward trend, recording a revenue of EUR 222.1 million in the first semester of this year, a 27% increase compared to the same period of the previous year;
• The group achieved significant growth across all business lines, the best results being recorded by clinics and hospitals, with increases of 41% and 36% respectively in turnover;
• The strong performance of the Group is mainly attributed to the good doctors with high expertise and the fact that innovation, technology and digitization remain, in the future, key elements for a sustainable and healthy development of the business;
• The corporate department also demonstrates an excellent evolution based on the leverage effect of the largest nationwide network of clinics;
• In the coming period, MedLife focuses on consolidating the largest network of private medical services in Romania by continuing organic projects, with an emphasis on the expansion of hospital units in several areas of the country.

MedLife, the largest private medical services network in Romania and the industry leader, announces its financial results achieved in the first semester of this year and reports a consolidated proforma turnover of EUR 222.1 million, a 27% increase compared to the same period of last year, out of which 12% represents organic growth. This robust performance demonstrates MedLife Group's ability to remain at the top of the industry despite market signals indicating a potential slowdown in the medical market growth.

“The pandemic generated significant changes in Romanians' behavior towards health and MedLife has responded to the new needs by offering complete and integrated medical solutions. The great doctors of MedLife dedicate themselves with high professionalism to the mission of covering all aspects of the health of those who come to us, from prevention to diagnosis and treatment. Thus, beyond the highly complex services, we manage to bring confidence in a healthy future, and this keeps us among Romanians' top choices,” stated Dorin Preda, Executive Director of MedLife.

With a strategic approach to operational development, all business lines of MedLife Group recorded robust growth between January and June 2023, the best performers being clinics (+41%), hospitals (+36%), and the corporate division (+13 %), followed by dental clinics and laboratories with growth rates of 11% and 9% respectively.

In terms of profitability, the Group records a slight decrease in the EBITDA margin, from 15.8% in the first semester of the previous year to 15.2% in the same period of 2023. However, a less pronounced seasonal decrease is noted in the second quarter compared to the first quarter of the year, in comparison to 2022. At the same time, there is also an increase in profitability compared to the second semester of the previous year, thus underlining the stability and positive direction of the Group.