30 August 2017
Unilabs marks 12 consecutive quarters of growth
- A top line growth of 14.3% CER (13.7% reported)
- Organic growth in net sales of 1.1% CER (0.3% reported) versus Q2 2016.
- Correcting for 2 days less in Q2 2017 sales growth would have been +4.4%
- Organic Adjusted EBITDA growth of 7.8% CER (7.1% reported)
- 3 strategic M&A transactions signed
Geneva, August 30th, 2017: Unilabs, Europe’s leading provider of clinical laboratory testing and medical diagnostic imaging services, reports a solid Q2 2017, delivering the 12th consecutive quarter of EBITDA growth. Commenting on the results, Jos Lamers, Chief Executive Officer, said, “A combination of organic growth across our Lab and Imaging segments, cost savings and valuable contract wins saw the company achieve its twelfth consecutive quarter of growth. We look forward to continuing our strong performance in Q3 and Q4 2017.”
Financial highlights of Q2, 2017
Delivering continued organic growth (Organic Growth Initiative)
Unilabs has delivered organic growth in net sales of 1.1% CER (0.3% reported) versus Q2 2016 (correcting for 2 days less in Q2 2017 sales growth would have been +4.4%) and organic EBITDA has grown by 7.8% CER (7.1% reported) on a like-for-like basis.
These results are attributable to good performance in almost all markets, led by Sweden (in both Lab and Imaging segments). The outlook for H2 2017 is positive with expected growth in various regions.
Optimising our cost structure (Operational Excellence)
Operational Excellence delivered savings of €3.6M for the second quarter. The combination of constant revenue growth and excellent results from Operational Excellence contributed to the strong growth of EBITDA margins. The knowledge and discipline we have gained through Operational Excellence will be applied to realise the synergy opportunities presented by our M&A activities.
M&A activities continue to support Unilabs’ strategy
Unilabs signed a number of acquisitions during 2017, including in Portugal (Base Holding), in Peru (Blufstein) and in Dubai (SCL).
“Over the past months, we have completed a number of strategic acquisitions while concentrating on fostering organic growth. These operations allow us to develop our network and to establish a regional platform for additional organic growth”, Jos Lamers said.
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