CUF posts profits of €39.8 million and grows 9.5% in 2023

 In Financial results, News, Private healthcare groups

The Portuguese private health care group CUF has posted results of €39.8 million for 2023 – an increase of 9.5% on the €33.7 million registered in 2022.

The positive performance of outpatient services contributed to a consolidated net result of €37.8 million.
In a communiqué, the group said that CUF’s operation income had grown 18.8% in 2023 compared to the previous year, to €755.9 million.
Operational costs grew 18.2% to €635.7 million. EBIT increased from €57.5 million to €72.8 million, up 26.6%, and the EBIT margin went from 9% to 9.6% (+0.6%).
The group says that with the extension of its network and services, CUF has increased its coverage of the population, providing healthcare to more than 1,200,000 people, which means that in 2023, 11% of the Portuguese had healthcare provided by the group.
CUF details an “increase in healthcare offer, enabling a more flexible and community response through a national network of hospitals and clinics, digital channels and home services with 2.9 million consultations, 10 million exams, 43 million tele-consultations, 64.5 000 surgeries, 451,000 casualty responses, and 4,300 birth deliveries undertaken in 2023.
As to the infrastructure segment of the business (new hospitals and clinics etc), this took a 26.7% share of the net result in 2023.
The ratio of net financial debt on EBITDA fell 4.67x at the end of 2022 to improved profits of 4.19x while the financial autonomy ratio stood at 21% in line with 2022 values.
The group led by Rui Diniz since January 2021 also stressed that in 2023 CUF had enlarged its healthcare network.
“We are continuing to invest in expansion, innovation and research, which is a priority, reaching €120 million invested, close to double on the investment in 2022”.