BRÈVE

sur EMEIS (isin : FR001400NLM4)

EMEIS: H1 2024 results and growth prospects

EMEIS's turnover for the first half of 2024 reached 2,772 million euros, an increase of 9.2%, driven by an increase in prices and an average group occupancy rate of 85.3% ( +2.6 points). This dynamic is confirmed in all geographic areas.

In France, the occupancy rate in retirement homes increased to 83.1% in Q2 2024 (+0.5 points), although remaining below overall expectations. Outside France, this increase is more marked, between 3.1 and 4.5 points.

EBITDAR for H1 2024 is stable compared to H1 2023, estimated between 330 and 340 million euros. However, EMEIS is revising its EBITDAR forecast for 2024 downward to a range of €700 million to €730 million, incorporating recovery measures in France.

Disposals of real estate assets since mid-2022 are expected to reach around 670 million euros by the end of 2024, compared to an initial trajectory of 750 million euros.

Finally, disposals of operational assets could improve the group's cash flow between the end of 2024 and the beginning of 2025.

R. H.

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