In This Article:
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Revenue: EUR5.3 billion, up 6.6% on an organic basis.
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EBITDA pre-IFRS 16: EUR605 million, an increase of 1.2%.
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Operating Margin: Improved by 30 basis points.
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Operating Cash Flow: Above EUR100 million increase.
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Net Profit from Continuing Operations pre-IFRS 16: EUR5 million, compared to a loss of EUR49 million in '23.
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Net Profit Group Share pre-IFRS 16: Loss of EUR20 million, compared to a loss of EUR63 million in '23.
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Operating Cash Flow Generation: EUR400 million, compared to EUR288 million in '23.
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Net Financial Debt: Reduced by EUR409 million to EUR3.5 billion.
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OPCO Leverage Ratio: Reduced from 6.2x in '23 to 5.8x in '24.
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Real Estate Portfolio Value: EUR2.6 billion.
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Occupancy Rate in Elderly Care: Over 90%, with 91.4% in December 2024.
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Volume Effect on Revenue: EUR122 million, a 2.5% increase.
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Price & Mix Effect on Revenue: EUR204 million, a 4.1% increase.
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EBITDAR Margin: 21.8%, down 50 basis points.
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Wholeco Leverage: Decreased from 6.2x to 5.8x.
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Loan-to-Value Ratio: Dropped from 61% in 2023 to 57% in 2024.
Release Date: February 25, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Clariane SE (FRA:KO2) reported a 6.6% increase in revenue on an organic basis, reaching EUR5.3 billion, demonstrating the strength of its diversified business model.
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The company achieved a 30 basis points improvement in its operating margin, reflecting a recovery in financial performance.
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Operating cash flow generation rose sharply to over EUR100 million, indicating strong cash management.
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Clariane SE successfully executed the first three steps of its two-year financial restructuring plan, including a significant disposal plan, with over EUR500 million already achieved.
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The company extended its syndicated loan to 2029 and set up a new real estate credit line, enhancing its financial stability and access to financing.
Negative Points
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Despite improvements, Clariane SE reported a net profit group share pre-IFRS 16 loss of EUR20 million, primarily due to a capital loss on the disposal of Les Essentielles.
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The EBITDA margin declined by 70 basis points to 11.5% due to cost inflation and lower real estate development activity.
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The company's net financial debt remains high at EUR3.5 billion, although it has been reduced by EUR409 million.
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Clariane SE's EBITDAR margin decreased by 50 basis points due to disposals and real estate arbitrage.
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The company faces challenges in maintaining occupancy rates and managing cost inflation, particularly in France and Germany.