Atrys Health (ATRY) H2 2023 earnings summary

Executive summary

• Revenue rose 27.3% YoY to €201.6m; EBITDA (MAR) increased 70.1% to €35.6m, while consolidated net loss widened to €45.9m.

• KPMG issued an unmodified opinion on the consolidated financial statements under EU-adopted IFRS.

Financial highlights

• Revenue was €201.6m vs. €158.4m in 2022; like-for-like growth was 10.8%.

• Operating loss narrowed to €1.8m from €13.4m; continuing-operations loss was €30.8m vs. €26.0m.

• Consolidated net loss was €45.9m vs. €23.4m; loss attributable to owners was €45.6m vs. €23.1m.

• EBITDA (MAR) reached €35.6m vs. €20.9m; adjusted EBITDA (MAR), excluding €7.0m of non-recurring costs, was €42.6m vs. €33.2m.

• Operating cash flow (MAR) rose to €22.4m from €5.8m; adjusted operating cash flow increased to €29.4m from €18.1m.

Outlook and guidance

• Management expects positive organic growth to continue in 2024; acquisition opportunities remain under review, with no binding offers signed at the reporting date.

• Strategy combines organic growth, targeted acquisitions, continued R&D investment and a focus on maintaining cash and a solid balance sheet.