The nursing home group’s activity has finally weathered the health crisis well and should accelerate this year. The title has high potential for re-evaluation.
rotation A group of nursing homes It rose 7.2% last year, to 3.9 billion euros.
Organic sales growth reached 2%.
2022 goals confirmed
For the time being, the leaders have not set themselves fiscal targets for 2021. However, they confirm the goals for 2022, a turnover of more than 4.5 billion euros and an overall surplus margin from “exploitation”. (EPIDA) 15.5% of sales versus 13.6% in 2020.
Vaccinating the elderly should allow the activity to speed up catch-up.
The group continues to develop internationally and has established itself in the United Kingdom.
The real estate portfolio now stands at 2.7 billion euros, ensuring a majority of 3.2 billion of Korea’s net debt.
The title is trading 21 times lower than expected net earnings per share at the end of 2021 and 16.9 times more than expected in the next year.
Buy the Korean share [KORI]. Course objective: 38 €.
Investment profile: dynamic.
Next meeting: Quarterly sales, April 19.
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