Clariane Se · EURONEXT:CLARI
Clariane — Q3 2023 Earnings Presentation
17 slides from Clariane's earnings presentation, Oct 25, 2023
Slide 1: 2023 Q3 revenue
2023 Q3 revenue 25 October 2023 Philippe Garin - Chief Financial Officer
Slide 2: In this presentation, and unless otherwise indicated, all changes are stated on a year-on-year
In this presentation, and unless otherwise indicated, all changes are stated on a year-on-year basis (2023/2022), and at constant scope and exchange rates. The main alternative performance measures, such as EBITDA, EBIT, net debt and financial leverage, are defined in the Group’s Universal Registrat
Slide 3: Key highlights
Key highlights • Solid organic revenue growth for the nine months ended 30 September 2023: +9.0%. All regions and business lines contributing to growth • Inaugural ESG Entity Rating of 2 from Sustainable Fitch, reflecting Clariane’s “good ESG profile” • 2023 guidance : organic sales up 8%, EBITDAR s
Slide 4: 9 months revenue bridge: a balanced model of growth
9 months revenue bridge: a balanced model of growth M€ +3.9% +5.1% -1.3% +5.2% -1.2% Page 4
Slide 5: Volume – Focus on Long Term Care occupancy rate
Volume – Focus on Long Term Care occupancy rate 62% of 9M Long-term care homes revenue 90 % 90 000 89.5 residents 89 88.2 88.7 88.5 88 87.7 87.6 87.5 87.1 87 86.5 86.0 86 85.6 85.5 85 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Page 5
Slide 6: External – Focus on Healthcare in Spain
External – Focus on Healthcare in Spain Healthcare : 26% of the 9M MENTAL HEALTH revenue Completion of the acquisition of 500 00 patients Spanish platform Grupo 5 organic growth of 43% in the first nine months of 2023 Mental Health activity, at the Group level, should generate at least €330 million
Slide 7: All geographies growing well
All geographies growing well GROWTH BY COUNTRY Reported growth Organic growth France 6.4% 6.1% Germany 9.1% 12.7% Benelux 14.0% 14.0% Italy 11.2% 7.1% Spain, UK 97.6% 8.6% Total 11.6% 9.0% Page 7
Slide 8: France: business levels remain firm
France: business levels remain firm Long-Term Care revenue rose by 4.6% on an organic basis driven by €m (excluding IFRS 16) 9M 23 Q3 23 • Price increases REVENUE 1,644.0 548.0 • Occupancy rate over 87% REPORTED GROWTH 6.4% 5.3% Healthcare achieved organic revenue growth of 6.3% ORGANIC GROWTH 6.1%
Slide 9: Germany: price increases have not yet fully offset costs increase
Germany: price increases have not yet fully offset costs increase Revenue rise driven mainly by significant price increases negotiated with local authorities following consequent pay rises for staff in the last 12 months €m (excluding IFRS 16) 9M 23 Q3 23 REVENUE 867.5 294.5 Long-Term Care posted or
Slide 10: Benelux
Benelux Revenue up 11.1% on an organic basis • Increase in the occupancy rate to 90% over the period as a whole (versus 86%) €m (excluding IFRS 16) 9M 23 Q3 23 • Steady price increases REVENUE 557.1 189.2 REPORTED GROWTH 14.0% 10.7% ORGANIC GROWTH 14.0% 10.4% Revenue rose by 29.7%, supported by rapi
Slide 11: Italy & Spain/United Kingdom
Italy & Spain/United Kingdom ITALY €m (excluding IFRS 16) 9M 23 Q3 23 Long-Term Care revenue rose by 9.7%, supported by a REVENUE 455.1 143.6 high occupancy rate of 94% (versus 91%) REPORTED GROWTH 11.2% 5.7% Healthcare organic revenue growth of 4.1% : significant ORGANIC GROWTH 7.1% 5.2% improvemen
Slide 12: Sustainable Fitch award
Sustainable Fitch award On 2 October, Sustainable Fitch awarded Clariane SE an ESG Entity Rating of 2 and an entity score of 63, reflecting its “good ESG profile” Fitch’s analysis reflects how Clariane integrates ESG considerations into its business, strategy and management Fitch also assessed: • Cl
Slide 13: Credit financing milestones achieved in a tightening environment & gross debt maturity profile
Credit financing milestones achieved in a tightening environment & gross debt maturity profile Successful New Continued roll-out extension of sustainability- of real estate Clariane’s linked private financing during unsecured credit placement with H1 2023 facility, extending 2027 maturity its maturi
Slide 14: Expected leverage at end 2023
Expected leverage at end 2023 Covenant 65% Covenant Main change in leverage 4.5x expectation due to more cautious appraisal of Healthcare Real-Estate 4.1 4.1 market conditions: c.3.8 3.7 3.7 3.6 3.6 • Cap rate increase c.3.5 comparable to H1 to c.5.8% • Reduced financing Jun-22 Dec-22 Jun-23 Dec-23
Slide 15: 2023 guidance
2023 guidance KEY FOCUS FOR H2 2023 FY 2023 ORGANIC REVENUE GROWTH >8% Continued operational resilience Net growth Capex strongly reduced STABLE EBITDAR IN AMOUNT Operating free cash-flow management Ongoing real estate c.3.8x monetisation transactions LEVERAGE SUBJECT TO REAL ESTATE MONETISATION TRA
Slide 16: Annex
clariane Annex TN
Slide 17: Sustained strong organic growth in all activities
Sustained strong organic growth in all activities GROWTH BY ACTIVITY 9M 2022 9M 2023 Reported Organic Revenue Revenue Var. growth growth (€m) (€m) Long Term 2,151 2,330 179 8.4% 8.9% Care Healthcare 826 967 141 17.1% 5.6% Community 367 435 68 18.5% 16.8% Care Total 3,344 3,731 387 11.6% 9.0% Page 17