Bastide Le Confort Médical (BLC) H2 23/24 earnings summary

Executive summary

• Revenue grew 4.3% year-over-year to €529.8M, with organic growth of 7.4% driven by strong home healthcare services and a rebound in the "Maintien à Domicile" segment.

• EBITDA increased 5.9% to €107.6M, with margin up to 20.3%; operating income rose 6.2% to €38.9M.

• Net income fell sharply to €1.2M due to higher financial expenses and losses from discontinued operations.

• Focus for 2024-25 is on improving profitability and accelerating debt reduction.

Financial highlights

• Revenue: €529.8M (+4.3% year-over-year); organic growth +7.4%.

• EBITDA: €107.6M (+5.9%); margin 20.3% (+30bps).

• Operating income: €38.9M (+6.0%).

• Net income: €1.2M (down from €12.8M), impacted by higher financial costs and discontinued operations.

• Free cash flow: €20.8M, with significant improvement in H2.

Outlook and guidance

• 2024-25 revenue target set above €560M on current scope.

• Aims to improve operating margin by 20–25bps to at least 8.7%.

• Prioritizing deleveraging and further improvement in leverage ratios.