Clinica Baviera (CBAV) Q2 2024 earnings summary

Executive summary

• Revenue for 1H 2024 reached €131.5M, up 14% year-over-year, with growth across all geographies.

• EBITDA increased 12% to €41.9M, and net income rose 12% to €24.0M compared to 1H 2023.

• Acquisition of Eye Hospital Group in the UK completed on June 26, 2024, for €10.8M plus a future variable payment valued at €4.3M.

Financial highlights

• Operating expenses rose 14% to €89.6M, in line with revenue growth.

• EBIT grew 11% to €32.4M; pre-tax profit up 12% to €32.5M year-over-year.

• Cash flow from operations was €38.4M, up from €16.9M in 1H 2023.

• Net cash position remained strong at €47.0M as of June 30, 2024.

Outlook and guidance

• Next financial results will be published in November 2024.