📝 Limes Schloss Clinics $ETR:LIK (#1) Positive Business Performance in H1 2024
LIMES Schlosskliniken AG review of report published on July 18th 2024 announcing H1 2024 preliminary results
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Update H1 2024 Results
Today, Limes announced preliminary results for H1 2024. The information is sourced from the announcement on 18/07/2024 and data obtained after following the company for more than 5 years. The company will send out a full report on September 3, 2024.
I wanted to share my thoughts on the progress of the company for the year, compare it with previous years, and look at what can happen in the second half of the year:
The results are in line with expectations, especially after a weak H1 2023 with a strong rebound in the second half. As we can see, these results are in line with the upward trajectory that the company has had in the last few years.
Limes still has reduced EBITDA and EBIT margins, which are likely connected to hiring and revamping efforts on the new clinics.
As a reminder, because the clinics are considered hospitals, they must obtain a license before they can operate. Each clinic must hire 20-30 staff members (including doctors, nurses, maintenance, etc.) before they can apply for said license.
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If we annualized these results using historical parameters, we would get the following estimated results for 2024: