In 2010 the KOS group reported revenues of € 325.4 million compared to € 273.4 million in the previous year, posting a rise of 19%, thanks to the development of all areas of the business and to the new acquisitions made during the year.
The revenues of the group can be broken down as follows:
|
(in millions of euro) |
2010 |
2009 |
Change |
||
|
|
Values |
% |
Values |
% |
% |
|
Elderly |
134.4 |
41.3 |
117.7 |
43.0 |
14.2 |
|
Rehabilitation |
141.5 |
43.5 |
111.5 |
40.8 |
26.9 |
|
Acute/Hi-tech |
49.5 |
15.2 |
44.2 |
16.2 |
12.0 |
|
TOTAL |
325.4 |
100.0 |
273.4 |
100.0 |
19.0 |
Consolidated EBITDA was € 42.1 million and was up by 27.5% from € 33 million in 2009. During the year the company incurred costs of approximately € 3 million for the IPO procedure and expenses relating to the acquisitions made in the period.
Consolidated EBIT was € 23.5 million, up from € 16.5 million in the previous year (+42.1%).
Consolidated net income came in at € 4
million which compares with a net loss of €
At December 31 2010 the KOS group had net debt of € 189.3 million, offset by owned properties with a carrying value of approximately € 167 million. The rise from the figure of € 163.5 million at December 31 2009 was due mainly to the acquisitions made during the year which had an effect of over € 62 million, net of the capital increases made in December 2010 for a total of € 34.5 million.
At December 31 2010 consolidated equity stood at € 176.9 million, up from € 137.6 million at December 31 2009.
The group had 4,007 employees at December 31 2010, up from 3,421 at December 31 2009.
In December 2010 the entry was finalized of AXA Private Equity into the capital of the company with a minority interest, currently standing at 41.1%. This deal enabled KOS to reach its objectives in terms of raising new funding for its development plans. The significant investment made by one of the main global private equity funds, together with the renewed commitment of the majority shareholder CIR, shows how the work done by the company to date is appreciated and how there is confidence in its future development prospects.
The KOS group, which currently manages a total of over 5,600 beds plus another 900 under construction, is active in three sectors:
1. RSAs (care homes), with 37 homes under management (3,829 beds in operation);
2. Rehabilitation (management of hospitals and rehabilitation units), with 13 rehabilitation facilities (in Lombardy, Emilia Romagna, Trentino and Marche), 9 psychiatric rehabilitation communities (in Liguria, Piedmont and Lombardy) and 13 day hospitals, with a total of 1,684 beds in operation;
3. Hospital management (management of one hospital and high-tech services in public and private facilities), in 18 hospitals.