Emeis Reports Increased Revenue in the First Half of 2025
Emeis announced a 6.2% organic revenue growth in the first half of 2025, with particularly strong sales in nursing homes and internationally.
Strong Performance in Key Sectors
In the first half of 2025, Emeis achieved a 6.2% organic increase in revenue. Nursing homes outperformed with a growth of 8.6%, while international activities saw an 8.1% increase. EBITDAR rose by 19.5% on a like-for-like basis, supported by growth in Northern Europe and France. EBITDA, excluding IFRS 16, saw a significant rise of 79% on a like-for-like basis. Net operating cash flow reached 62 million euros, up by 74 million euros from the previous period. Free cash flow turned positive, reaching 26 million euros, an improvement of 204 million euros compared to the previous year.
Exceeding Divestment Targets
Emeis exceeded its divestment targets, with 2.1 billion euros of sales completed or secured since mid-2022, including 931 million euros received. Of these sales, 273 million euros were realized since the start of 2025. The group secured 1.16 billion euros from divestments, including 761 million euros through a real estate partnership finalized in September. The group's net debt remained stable at 4,468 million euros as of June 30, 2025, incorporating the impact of ongoing divestments. The net debt to EBITDA ratio improved to 15.4x, from 19.5x at the end of December 2024.
2025 Objectives Confirmed
Emeis confirmed its objectives for 2025, anticipating an EBITDAR increase of 15% to 18% on a like-for-like basis. The average annual revenue growth rate is expected to be between 4% and 5% over the 2024-2028 period, with a similar growth rate for EBITDAR. The group announced the creation of a real estate investment trust for its activities in Europe, aiming to reduce net debt by 700 million euros. Additionally, Emeis became a Mission-driven Company in June 2025, reinforcing its commitment to an inclusive and sustainable societal project.
