France · Delayed Price · Currency is EUR emeis Société anonyme Earnings Call Transcripts
Fiscal Year 2026
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9M revenue reached €4.5bn with 6% organic growth, while occupancy improved and leverage fell to 8.7 at June 2026. 2026 guidance was confirmed, supported by disposals, cost controls and extensive interest-rate and energy hedging.
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Strong H1 2026 results show 6% like-for-like revenue growth, sharp margin expansion, and improved occupancy above 90%. Net debt fell by €566 million, leverage ratio improved to 8.7x, and EBITDA guidance for 2026 was raised to 12%-14% growth.
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Q1 2026 delivered strong organic revenue growth of 6.3%, driven by higher occupancy and price effects, with all regions showing robust performance and key divestments completed. EBITDA growth guidance of at least 10% for 2026 is reaffirmed.
Fiscal Year 2025
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Strong revenue and EBITDA growth in 2025 were driven by nursing homes and operational improvements, with significant deleveraging and asset disposals strengthening the balance sheet. Guidance for 2026 and beyond remains confident, targeting double-digit growth and further margin expansion.
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Strong 2025 results exceeded guidance, with 6.1% organic revenue growth, 19.2% EBITDA increase, and positive free cash flow. Debt reduction and disposals strengthened the balance sheet, while operational and quality metrics improved, supporting a confident outlook for continued growth.
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Q3 2025 saw strong organic growth, with occupancy rates and pricing both rising across all regions, especially in Germany and France. EBITDA is guided to grow 15%-18% in 2025, with robust CapEx and a €2.1 billion disposal plan underway.
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Strong H1 2025 results show robust revenue and EBITDA growth, improved occupancy, and positive free cash flow. Major real estate disposals exceeded targets, sharply reducing net debt and leverage, with guidance reaffirmed for continued growth through 2028.
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Strong organic revenue growth and margin recovery in H1 2025, led by nursing homes and cost controls. Asset disposals are ahead of plan, leverage is down, and 2025 EBITDA growth guidance of 15–18% is reiterated.
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Q1 2025 saw strong organic revenue growth of 6.2% and a 2-point rise in occupancy, led by nursing homes and European markets. EBITDA is expected to grow 15–18% in 2025, with over €1 billion in asset disposals secured and continued operational recovery anticipated.
Fiscal Year 2024
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Margins and cash flow improved sharply in H2 2024, with EBITDA and EBITDAR beating guidance. Occupancy rates and organic growth rose across all regions, and asset disposals are on track to meet targets. EBITDAR is expected to grow 15%-18% in 2025 at constant perimeter.
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2024 saw strong organic sales growth, improved occupancy, and EBITDA exceeding guidance, driven by operational recovery and asset disposals. Outlook for 2025 is positive, with EBITDA expected to rise 15–18% and further asset sales planned.