22nd Jan 2021 08:58
(Alliance News) - Mediclinic International PLC on Friday said revenue was up in the third quarter of its financial year driven by unusually high inpatient levels in southern Africa and the Middle east.
The Stellenbosch, South Africa-headquartered private healthcare provider said that for the third quarter ended December 31 revenue increased by 2.5% compared to the prior year.
Earnings before interest, tax, depreciation and amortisation was down 8.0% however. Reported Ebitda margin stood at 17%, compared to the prior year's 19%.
Unseasonably high levels of inpatient activity at Mediclinic Southern Africa and Mediclinic Middle East in December supported the Mediclinic's financial performance in the third quarter, the company said.
Mediclinic said: "The pandemic has highlighted the global demand for quality healthcare services and the integral role played by private providers in supporting national governments and healthcare authorities. Ageing populations, a growing disease burden and digitalisation of healthcare are accelerating opportunities for expansion and advancement across the continuum of care. Mediclinic is also focused on several strategic projects, including virtual care solutions, in response to the pandemic and the evolving needs of its clients."
Mediclinic said it remains "cautious" with regards to the full impact of the global pandemic on the near-term operating performance of the company.
"As previously guided, the impact of national lockdowns and restrictions on non-urgent elective care results in the postponement of patient treatments. When capacity becomes available, the group is well positioned to deliver the services and care required to address patient demand," Mediclinic said.
Available cash and facilities at the end of December were flat with September at GBP660 million.
Mediclinic shares were down 0.7% at ZAR60.58 each in Johannesburg on Friday, and down 1.5% at 295.40 each in London.
By Greg Roxburgh; [email protected]
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