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Orpea: 8.9% increase in turnover over one year

2023-02-13T08:58:15.812Z


The private retirement home group Orpea announced on Monday a turnover up 8.9% (including 5.5% organic) to 4.68 billion euros...


The private retirement home group Orpea announced on Monday a turnover up 8.9% (including 5.5% organic) to 4.68 billion euros for the 2022 financial year.

The increase in turnover "

remained solid in the 4th quarter with an increase of 7.7%, including 5.7% organic

," the company said in a press release.

This increase in turnover over the year is "

in line with that presented on November 15 as part of Orpea's restructuring plan

", indicates the company.

Its turnover in France increased by 2.1% (including +1.9% organically), penalized by the context of the crisis in its retirement homes, but the other geographical areas experienced high growth.

The implementation of the capital increases envisaged within the framework of the envisaged financial restructuring will lead to “

massive dilution for the existing shareholders

”, indicates the group.

The planned capital increases

” would bring out a “

theoretical unit value of the shares after operations of less than 0.20 euro

”.

More than 9 billion euros of debt

The Orpea share gained 25% on Monday to 4.58 euros, against 3.65 euros on Friday at the close.

It was worth more than 85 euros before the publication of the book-investigation Les Fossoyeurs which revealed mistreatment of residents and financial irregularities under the former management.

Orpea, in turmoil for more than a year and burdened with a debt of more than 9 billion euros, announced in early February an "

agreement in principle for financial restructuring

", which will see it go under the control of Caisse des Dépôts.

Read alsoOrpea: behind the scenes of the rescue of the giant Ehpad by the State

"

Discussions are continuing

" in order to "

formalize

" it and "

should make it possible to quickly reach the conclusion of the locksenior-up agreement

", indicates the press release.

Following three capital increases, the group led by Caisse des Dépôts will hold 50.2% of Orpea's capital, the creditors 49.4% and the current shareholders, if they decide not to participate in the increases. of capital that will be open to them, 0.4%, she announced in early February.

Source: lefigaro

All business articles on 2023-02-13

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