16.08.2023 – 13:00
Onconclinical Group
SÃO PAULO (ots/PRNewswire)
Efficient working capital management explains a large part of cash flow performance. Net income increased 51% (31% organically), while Ebitda excluding LTIP (excluding the non-cash impact of the long-term incentive program) reached R$268 million, up 109% from the same period last year
Oncoclínicas (B3: ONCO3) posted record company net profit of R$1.4 billion in the second quarter of 2023, up 51.1%. The strong performance is the result of significant organic revenue growth of 31.4% year-on-year, the integration of the acquisitions completed in 2022 and the operations of the cancer centers, which have further accelerated their growth. In the 12-month period ended in the second quarter (LTM Q2 2023), net profit reached R$5 billion. The data was published by the company itself and was released to the market on Monday 08/14. communicated (https://ri.grupooncoclinicas.com/)
The number of patient treatments increased by 40.8% in the second quarter of 2023 compared to the second quarter of 2022, reaching a total of 157,400, both through organic growth and through the integration of acquisitions. The volume of treatments in the past 12 months was over 595,000.
“These figures are a reflection of our efficient management. We continue to grow, mainly through organic growth, but also through the synergy effects we achieve through acquisitions and strategic partnerships. We have expanded our integrated care model to guarantee quality and thus results for the company and its investors,” explains Bruno Ferrari, Founder and CEO of the Oncoclínicas Group.
Ebitda excluding LTIP (excluding the non-cash impact of the long-term incentive program) was R$268.4 million in Q2 2023 versus R$128.4 million in Q2 2022, an increase of 109% and a margin of 19.7% or 5.4 percentage points above that of the second quarter of 2022. Ebitda growth continues to reflect progress in integrating the acquired entities, leading to efficiency gains and synergy effects. In the first quarter of 2023, the Ebitda excluding LTIP reached 545.3 million real and the margin was 20.6%.
The net profit in Q2 2023 reached R$35 million after a loss of R$24.6 million in Q2 2022, marking the fourth consecutive quarter of net profit. Net profit excluding LTIP was R$48.3 million in the second quarter of 2023, following a loss of R$19.3 million in the same period last year.
The real highlight of the quarter was cash generation. Operating cash flow totaled R$308.9 million for the quarter, driven by active management of inbound initiatives, inventory management and a mid-term extension strategy with suppliers from Q4 2022, which is now beginning to show results. Even after debt service and total capital expenditures of Q2 2023, cash flow was R$98 million.
According to Cristiano Camargo, the company’s CFO and Director of Investor Relations, the positive numbers reflect the company’s successful management of working capital, drive for efficiency in operating costs and exploitation of synergies from acquisitions. “The numbers once again reflect our constant pursuit of operational efficiency, an important task that we began in 2022.”
For more information, visit the website www.grupooncoclinicas.com
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Original content from: Grupo Onconclinicas, transmitted by news aktuell