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emeis (EMEIS) investor relations material

emeis Q3 2025 TU earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 TU earnings summary28 Oct, 2025

Executive summary

  • Q3 2025 saw continued improvement in occupancy rates, reaching 88% (up 1.8 points YoY), with strong momentum in Germany and France and all geographies contributing to growth.

  • Organic revenue growth was 6.4% YTD, accelerating to 7% in Q3, driven by higher occupancy and favorable pricing.

  • All regions posted occupancy and revenue gains, with Northern Europe and Southern Europe showing notable strength.

  • Disposal plan exceeded €2.1 billion between July 2022 and December 2025, surpassing the initial €1.5 billion target.

  • New facility openings, especially in the Netherlands and Spain, contributed to occupancy and revenue growth.

Financial highlights

  • Q3 2025 revenue was €1,480 million, up 5.6% YoY (+7.0% organic); YTD revenue reached €4,388 million, up 5.2% (+6.4% organic).

  • Nursing homes segment posted 8.5% organic growth over nine months; clinics and other activities grew 2.7%.

  • Price effect contributed 3.8% to organic growth YTD, with Q3 price effect around 4%.

  • International operations saw robust organic growth: Northern Europe +10.9%, Central Europe +7.3%, Southern Europe & Latam +10.2%.

  • Ramp-up of new facilities contributed 1% to organic growth.

Outlook and guidance

  • 2025 EBITDA/EBITDAR expected to increase by 15%-18% like-for-like versus 2024 (base: €740 million EBITDA in 2024).

  • Midterm outlook (2024-2028): average annual revenue growth of 4%-5% and EBITDA/EBITDAR growth of 12%-16% like-for-like.

  • Growth in operating margin expected as occupancy rates normalize above 90% and price effects are captured.

  • Medium-term growth supported by demographic trends and structural supply shortages in care markets.

What is the path to 90%+ occupancy?
Detail the real estate vehicle's structure.
What measures improved clinic performance?
Germany's pricing strategy effectiveness?
Clinic business recovery sustainability?
Future CapEx allocation strategy?
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Frequently asked questions

emeis Société anonyme (formerly Orpea SA) is a France-based company specializing in the operation of retirement homes, outpatient and rehabilitation clinics, and psychiatric care facilities. The company also manages assisted living facilities and provides home care services. Orpea's offerings include long-term stays, short or respite stays, daycare, and specialized care for patients with Alzheimer’s and related diseases. The company is headquartered in Puteaux, Ile-de-France, and its shares are listed on the Euronext Paris.

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