LISTED Australian and global healthcare company Ramsay Health Care has reported solid H2 results for 2018 with revenue up 14.9% to $5.1b and Earnings Before Income Tax, Depreciation and Amortisation (EBITDA) up 9.8% to $728.6m.
Drivers for the group's business were the strong showing in the European markets where revenue was up 25.7% to 1.3b and EBITDAR (which includes Restructuring or Rent costs) grew 19.1% to 231.3m and Australia's own performance.
Ramsay Australia performed well delivering 5.7% EBITDA with a focus on operational efficiencies.
The Australian brownfield program delivered $151 million in completed projects including 169 beds (124 net) and 10 procedural theatres, with a healthy pipeline of future brownfield opportunities.
The UK business was the only handbrake facing a challenging Q1 but recovering with NHS volume growth in Q2 to finish H1 with revenue up 1.6% to 209m.
UK EBITDAR dropped 9.2% to 44.m.
On 07 Nov, Ramsay acquired European healthcare group Capio, which should prove slightly EPS dilutive to the group in FY19 but Core EPS accretive within two to three years.
Demand is expected to continue to drive growth across the sector globally over the long term.
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