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Romanian medical group MedLife’s shares, up 4% after strong profit growth in the first quarter

MedLife (M), the biggest medical services group in Romania, recorded a consolidated turnover of RON 337 mln (EUR 68.5 mln) in the first quarter of this year, up 28% compared to the same period of 2020. The pro-forma consolidated sales increased by 40%, to RON 370 mln (EUR 75 mln).

The group’s net profit went up 5.6 times to RON 36.1 mln (EUR 7.3 mln), from just RON 6.4 mln in Q1 2020. The operational profit was up 192%, to RON 53.6 mln (EUR 10.9 mln).

"The results of the first quarter of 2021 are optimistic and we are glad to see that the strategies and measures adopted by us pay off. Since the beginning of this year we have focused a lot on screening and diagnostic programs, which come to the aid of both patients suffering from comorbidities and those who have gone through the disease and who want to monitor their health in the medium and long term. The surgeries also gained a large scale, the Romanians being aware that the postponement is not a solution for their problems and that they can come with confidence to our units, not being exposed to high risks in terms of internal organization. Our attention was also directed to the corporate segment, where we came up with many dedicated programs, employers being concerned about the health of their employees" said Mihai Marcu, President and CEO of MedLife.

The strong improvement in the group’s profitability determined a 4% increase in MedLife’s share price on Thursday, May 13, after the company published its report. The MedLife shares thus closed the day at a new all-time high of RON 12.45 and its market capitalization reached RON 1.65 bln (EUR 336 mln). The group’s shares are up 129% in the last 12 months.

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The Capital Markets News section is powered by the Bucharest Stock Exchange 

 

BSE

 

 

Romanian medical group MedLife’s shares, up 4% after strong profit growth in the first quarter

MedLife (M), the biggest medical services group in Romania, recorded a consolidated turnover of RON 337 mln (EUR 68.5 mln) in the first quarter of this year, up 28% compared to the same period of 2020. The pro-forma consolidated sales increased by 40%, to RON 370 mln (EUR 75 mln).

The group’s net profit went up 5.6 times to RON 36.1 mln (EUR 7.3 mln), from just RON 6.4 mln in Q1 2020. The operational profit was up 192%, to RON 53.6 mln (EUR 10.9 mln).

"The results of the first quarter of 2021 are optimistic and we are glad to see that the strategies and measures adopted by us pay off. Since the beginning of this year we have focused a lot on screening and diagnostic programs, which come to the aid of both patients suffering from comorbidities and those who have gone through the disease and who want to monitor their health in the medium and long term. The surgeries also gained a large scale, the Romanians being aware that the postponement is not a solution for their problems and that they can come with confidence to our units, not being exposed to high risks in terms of internal organization. Our attention was also directed to the corporate segment, where we came up with many dedicated programs, employers being concerned about the health of their employees" said Mihai Marcu, President and CEO of MedLife.

The strong improvement in the group’s profitability determined a 4% increase in MedLife’s share price on Thursday, May 13, after the company published its report. The MedLife shares thus closed the day at a new all-time high of RON 12.45 and its market capitalization reached RON 1.65 bln (EUR 336 mln). The group’s shares are up 129% in the last 12 months.

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