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Medicover (MCOV) investor relations material
Medicover Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue grew 17.1% year-over-year to €596.7m, with organic growth of 13.9% and strong contributions from recent acquisitions.
Net profit more than tripled to €18.0m, with margin rising to 3.0%; EPS increased to €0.127.
Margin expansion and improved profit metrics, especially in Poland and maturing Romanian hospitals.
Robust cash flow from operations and continued margin expansion across all profit measures.
All main markets, FFS markets, and recent acquisitions contributed to robust growth.
Financial highlights
EBIT nearly doubled to €41.7m, with margin expansion to 7.0%.
EBITDA rose 36.3% to €96.2m, margin at 16.1%; adjusted EBITDA at €100.9m, margin 16.9%.
Operating cash flow increased 20.5% to €57.3m.
Dividend of €0.05 per share paid, totaling just under €23 million in Q2.
Basic/diluted EPS was €0.127, up from €0.042.
Outlook and guidance
On track to exceed 2025 targets, with revenue expected above €2.2 billion and adjusted organic EBITDA above €350 million.
Leverage expected to decrease from 3.6x to below 3.5x, closer to 3x by year-end.
Margin expansion expected to continue, though at a moderated pace in H2.
Guidance for CapEx spend remains at 5.5%-6% of revenue, with H2 being backloaded.
Capacity utilization and maturing operations in India and Romania present further growth opportunities.
Next Medicover earnings date

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