Health and acquisition bring Korian to 3Q

Corian, the leading European company in nursing homes, reported 12.6% sales growth in the third quarter, driven by strong activity in France, Spain and the United Kingdom, primarily due to acquisitions, it announced Thursday. A statement said that during the July-September period, trading volume was 1.08 billion euros, an increase of 12.6%, including 6.6% organically. During the first nine months of the year, growth was equivalent (+12.4% including 6.5% organic), at €3.19 billion.

Particularly dynamic, activities appear in France, Spain and the United Kingdom”Overall growth of 19.6% for sales of €544.1 million in the third quarter, driven by the good performance of recent acquisitions and strong organic growth dynamics (+10.1%)‘, the team commented.

Then comes Italy, whose activities grew by 13.7% to €117.6 million, mainly thanks to acquisitions, which offset the 0.7% decline in organic value due to “Clinics closed in August other than 2020Corian, which plans to develop 30% of its sales in health activities by 2024, has strengthened its health activities in the peninsula – caring for the chronically ill around Rome, Florence and Turin – by purchasing 20 institutions (1,200 beds). For its part, Germany represented in the period From July to September turnover of 270.5 million euros, an increase of 3.9% in one year, compared to + 5.4% for the Benelux at 150 million euros.

By activity type, nursing homes grew 9.9% in the third quarter, versus +24.5% for medical activities, thanks to “Good mental health performance” And “Activity improved in SeptemberCorey details. Finally, the third and most recent activity of “Serviced housing and shared apartments for the elderly and home servicesIt rose 7.8%.

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In connection with the Covid-19 pandemic, 94% of the population has been vaccinated – 34% of whom got a third injection on October 25 – as well as 92% of staff, according to the group. Korian will publish its annual results on February 23.

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