Ramsay Health Care (RHC) Q1 2027 earnings summary

Executive summary

• Q1 FY27 revenue rose 2.9% to €1,232.9m and EBITDA increased 7.5% to €120.7m; EBITDA margin reached 9.8%, up 0.4 points YoY.

• Connecting Care 2030 entered execution, targeting improved access and care pathways, digitalization, operational excellence and profitable growth.

Financial highlights

• Revenue grew 2.9% reported, 2.6% at constant FX and 2.8% organically; EBITDA rose €8.4m YoY.

• Current operating profit was €9.5m versus €3.4m; operating profit was €12.5m versus €0.9m.

• Net loss attributable to owners narrowed to €35.5m from €40.1m; operating cash outflow improved to €3.3m from €43.5m.

Outlook and guidance

• FY27 revenue growth guidance remains 2.0%–3.0% excluding FX, with EBITDA margin stable versus FY26.

• FY29 target is ~3.0% revenue CAGR from FY26, excluding FX, with gradual EBITDA margin improvement.

• FY27–FY29 gross capex target averages ~4.0% of revenue; continued deleveraging targets pre-IFRS net debt/EBITDA below 4.0x.

• Priorities include performance plans, integrated-care growth, care standards and disciplined capital allocation.