First quarter 2025 revenue
Revenue for the three months to 31 March 2025 rose by 4.8% on an organic basis, which equates to a 5.5% increase on a comparable number of days.
All businesses and regions contributed to revenue growth, with volume growth coming alongside positive price effects and case mix effects. The average occupancy rate of nursing homes was 90.4% in the first quarter of 2025, as opposed to 89.6% in the year-earlier period.
The disposal programme continued and more than 60% of the programme is now secured as opposed to 50% at 31 December 2024, for an expected total amount of €1 billion by the end of 2025.
Management confirmed its 2025 guidance:
- Organic revenue growth of around 5%
- EBITDA growth of between 6% and 9% pre-IFRS 16 and excluding disposals
- Wholeco leverage ratio1 of less than 5.5x
Wholeco leverage: leverage ratio adopted for the purposes of the amendment and extension of the syndicated loan announced on 17 February 2025. Wholeco leverage is calculated as follows: Net financial debt pre-IFRS 16 and IAS 17/consolidated EBITDA pre-IFRS 16 and IAS 17.
Our first-quarter performance confirms our strong operational momentum over the past semesters, across all of our business segments and regions, along with the constant commitment of our employees. In our main business segment of long-term care nursing homes, the average occupancy rate was 90.4% in the first quarter as a whole, an improvement on the first quarter of 2024.
We also continued to make progress on the disposal programme adopted as part of the November 2023 plan to strengthen the Group’s financial position, with six additional transactions during this quarter, relating to around 15 healthcare facilities and networks located in France, Germany and Italy, for a total amount of around €100 million. As a result, just over 60% of the disposal programme has now been com-pleted or secured. We are pursuing at firm pace the implementation of this programme to achieve our target of generating €1 billion in disposal proceeds by the end of 2025 on the best possible valuation terms.
On that basis, and with the dedication of our staff members and good momentum in our various busi-ness segments and geographies, we are confirming our operational and financial targets for 2025.
Disclaimer
This document contains forward-looking statements that involve risks and uncertainties, including those included or incorporated by reference, con-cerning the Group’s future growth and profitability that could cause actual results to differ materially from those indicated in the forward-looking statements. These risks and uncertainties relate to factors that the Company cannot control or estimate precisely, such as future market conditions. The forward-looking statements made in this document constitute expectations for the future and should be regarded as such. Actual events or re-sults may differ from those described in this document due to a number of risks and uncertainties described in Chapter 2 of the 2024 Universal Regis-tration Document filed with the AMF on March 31, 2025 under registration number D. 25-0209, available on the Company's website, (www.clariane.com) and that of the AMF (www.amf-france.org). All forward-looking statements included in this document are valid only as of the date of this press release. Clariane S.E. undertakes no obligation and assumes no responsibility to update the information contained herein beyond the requirements of applicable regulations.
Readers are cautioned not to place undue reliance on these forward-looking statements. Neither Clariane nor any of its directors, officers, employees, agents, affiliates or advisors accepts any responsibility for the reasonableness of any assumptions or opinions expressed or for the likelihood of any projections, prospects or performance being achieved. Any liability for such information is expressly excluded. Nothing in this document is, or should be construed as, a promise or representation regarding the future. Furthermore, nothing contained in this document is intended to be or should be construed as a forecast of results. Clariane’s past performance should not be taken as a guide to future performance.
In this press release, and unless indicated otherwise, all changes are stated on a year-on-year basis (2025/2024), and at constant scope and exchange rates.
The main alternative performance measures (APMs), such as EBITDA, EBIT, net debt and financial leverage, are defined in the Universal Registration Document available on the company’s website at www.clariane.com.
