- Audited EBITDA of €2.2m (+€4.3m vs. 2022)
- Historic audited net profit of €0.9m (+€6.2m vs. 2022)
- The annual report will be available on the company's website on 30 April 2024
Paris, Dubai, April 25, 2024
VISIOMED GROUP (FR0013481835 - ALVMG), a group dedicated to innovative healthcare technologies and services, presents its audited financial results for the year 2023[1], approved on 24 April 2024 by the Board of Directors.
"For the first time in its history, the company is presenting positive audited consolidated financial statements, with EBITDA reaching €2.2m in 2023, an increase of €4.3m compared with 2022, and a positive net income of €0.9m, an increase of €6.2m compared with 2022. The turnaround, which has been perceptible for several months, is now complete." said Clément Pacaud, CEO of Visiomed Group.
"As detailed in our last Letter to Shareholders, Visiomed Group is now a growing, profitable company with a healthy financial structure. The Group has a promising outlook, highlighted by the recent written offer received early 2024 from a GCC institutional investor, which the parties decided not to proceed with, valuing our UAE activities over €100m. We keep exploring different options with local investors and we will be open to contemplate equity and/or commercial opportunities."
Consolidated income statement at 31/12/2023 (audited)
| at 12/31 - € million | 2023 consolidated audited | 2022 consolidated audited | change 23/22 (k€) | var 23/22 (%) |
| Smart Salem revenue | 13.7 | 9.9 | 3.8 | 38% |
| Revenue of discontinued operations | 0.0 | 4.5 | (4.5) | na |
| Total revenue | 13.7 | 14.4 | (0.7) | -5% |
| EBITDA | 2.2 | (2.1) | 4.3 | |
| Ebitda Margin | 16% | -15% | 0.8 | |
| Net income | 0,9 | (5.3) | 4.2 | |
| Net Margin | 7% | -37% |
As explained in our press release of 26 March 2024[2], several key factors contributed to these historic results for 2023:
- Continued strong growth in the Medical Fitness business, underpinned by the continued ramp-up of the last two Smart Salem centres during the year.
- The successful launch of the new Wellness packages, in line with our strategy of diversifying into medical prevention.
- The acceleration of cost-cutting efforts at holding company level in France, as expenses were halved during the year, contributing to an uplift in our profitability.
These results validate the company's turnaround and the success of the new strategy initiated since April 2022 by the new management team.
On 4 April 2024, Visiomed Group also announced a strong start to the first quarter of 2024[3].
***
About VISIOMED GROUP
Founded in 2007, VISIOMED GROUP relies on a long experience in the health sector to invest in innovative health technologies and services in France and abroad.
The Group now has focused its activities on the Middle East since 2021 and the acquisition of Smart Salem, the first digital medical analysis centre accredited by the Dubai Health Authority (DHA) in the United Arab Emirates, 100% owned by Visiomed Group.
Visiomed is also accelerating its development in the region with the creation of Smart Health, a joint venture that will lead the deployment of the Group's innovative centres in Saudi Arabia.
Based in Paris, Visiomed Group is listed on Euronext Growth (ALVMG). For more information, visit www.visiomed-group.com
CONTACTS
| Jérôme FABREGUETTES LEIB | Fatou-Kiné N'DIAYE |
| Investor Relations | Financial Press Relations |
| visiomed@actus.fr | fndiaye@actus.fr |
| Phone: +33 1 53 67 36 78 | Phone: +33 1 53 67 36 75 |
© Visiomed Group SA 2024. The brands mentioned are the property of their respective authors. Reproduction prohibited, even partial, without prior authorization.
[1] The 2023 Annual Financial Report will be made available on Tuesday 30 April 2024 (after close of trading). The closing of the accounts did not reveal any material differences from the unaudited financial information published in the press release of 26 March 2024, with the exception of net profit, which finally came out at €0.9m, compared with an estimate of €(1.1)m after taking into account non-cash accounting entries of €2.0m relating to asset value adjustments.
[2] FY 2023 results - a historic financial year for Visiomed Group
[3] Visiomed Group announces a new footfall record for its Smart Salem centers during the first quarter of 2024
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