Caissargues, August 29, 2024
| In € millions | 2022-2023 published | 2022-2023* restated | 2023-2024 published | Change |
| Fourth-quarter revenue | 127.9 | 122.2 | 134.5 | +10.1% |
| Annual revenue | 508.0 | 489.5 | 529.7 | +8.2% |
*2022-2023 revenue restated for the scope effect related to the sale of Distrimed on December 4, 2023 and of Sodimed and Promefa - Swiss entities classified as assets held for sale (see sales reconstitution in appendix)
Accelerated organic growth in fourth-quarter 2023-2024
Organic growth1 intensified in the fourth quarter, rising from 6.7% in the first nine months of the year to 9.5% in the final quarter. Revenue came in at €134.5 million, up 10.1% on a reported basis.
This excellent performance reflects both persistently robust and accelerating growth in home healthcare services and a stronger upturn in the Homecare business, where revenue came to €49.7 million, up 4.2% (up 4.7% on an organic basis) due to the continued development of rental activities and a return to growth in equipment sales over the quarter.
The more technical business activities, such as Respiratory and Nutrition-Perfusion-Stomatherapy, once again turned in an excellent performance, with revenue of €84.8 million, up 13.9%, and organic growth of 12.6%, exceeding the 10.9% organic growth recorded over the first nine months of the year.
Companies acquired within the last year, Oxigo and Occit'perf, contributed €0.7 million to fourth-quarter revenue.
Full-year revenue exceeding the announced target
Annual revenue totaled €529.7 million (up 8.2%, of which 7.4% on an organic basis), exceeding the Group's €520 million target.
The scope effect of acquisitions was €4.4 million over the period. International business accounted for 16.6% of revenue.
Homecare: Revenue amounted to €200.8 million, up 1.4% and up 1.6% on a like-for-like basis. Rental activities remained dynamic throughout the year with healthcare institutions and in stores.
- With healthcare institutions, the Group recorded revenue of €87.5 million, up 2.6% (up 2.5% on a like-for-like basis).
- In stores/online, revenue rose by 0.5% to €113.3 million, up 0.5% as reported and up 0.9% at constant scope. As part of a store network optimization and franchisee restructuring strategy, two stores were closed during the year.
The "Respiratory" business maintained its excellent performance, with revenue up 14.6% to €185.8 million (up 13.1% on a like-for-like basis). Momentum remained very strong in France, as well as internationally, notably in the UK, where the Group benefited from both positive volume effects and the impact of price increases introduced during the first half.
The "Nutrition-Perfusion-Stomatherapy" business reported revenue of €143.1 million, up 10.6% (up 9.0% on an organic basis) thanks to the excellent performance of the "Diabetes" business and the solid performance of the "Nutrition-Perfusion" and "Stomatherapy" businesses.
Recurring operating margin target confirmed for 2023-2024
Given the excellent momentum recorded in the fourth quarter and the very strong performance of high value-added activities, Groupe Bastide confirms its recurring operating margin target of at least 8.4% for 2023-2024.
For 2024-2025, the Group is aiming for revenue of over €560 million (like for like), mainly driven by home healthcare services.
Debt reduction remains one of Groupe Bastide's priority targets. The strategy of divesting assets with low potential for organic growth and limited value creation in the short- and medium term will continue over the current year and help the Group to step up the reduction in its debt.
NEXT PUBLICATION:
2023-2024 annual results on Wednesday, October 23, 2024 after the close of trading
1 Organic growth calculated at constant exchange rates and on a like-for-like basis, with 2023-2024 figures restated for the contribution of companies acquired within the last 12 months and 2022-2023 figures restated for the contribution of assets sold within the last 12 months and assets classified as assets held for sale.
About Groupe Bastide Le Confort Médical
Created in 1977 by Guy Bastide, Groupe Bastide is a leading European provider of home healthcare services. Present in 8 countries, Bastide develops a permanent quality approach and is committed to providing medical devices and associated services that best meet patients' needs in key health areas: diabetes, nutrition, infusion, respiratory care, stomatherapy and urology. Bastide is listed on Euronext Paris (ISIN: FR0000035370, Reuters BATD.PA, - Bloomberg BLC: FP).
| Groupe Bastide | Actus Finance | |
| Vincent Bastide/Olivier Jourdanney T. +33 (0)4 66 38 68 08 www.bastide-groupe.fr | Analyst-Investor Hélène de Watteville T. +33 (0)1 53 67 36 33 | Press - Media Déborah Schwartz T. +33 (0)1 53 67 36 35 |
APPENDICES
| In € millions | Q4 2022-2023 | 2022-2023 |
| Published revenue | 127.9 | 508.0 |
| Removal from the scope of consolidation of Distrimed since December 2023 | -3.1 | -7.8 |
| Removal from the scope of consolidation of the Swiss entities in the process of being sold over the full year (IFRS 5) | -2.6 | -10.7 |
| Restated revenue | 122.2 | 489.5 |
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