Clínica Baviera soars 18% to 13-year highs after quadrupling benefits

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Baviera Clinic it shoots up to 18% this Friday to reach 15.5 euros per share. A dimension that had not visited since May 2008, 13 years ago. The boost for the group of ophthalmology centers came with their accounts for the first quarter of the year, a period in which has quadrupled benefits.

In the first three months of the year, Clínica Baviera has achieved earnings of 7.8 million euros. In the same period last year, the figure was 2.1 million euros, and that the outbreak of the pandemic only affected the final stretch of this time. Later, the company was forced to limit its activity to emergency interventions.

The company attributes this strong increase in profits to 40.1% growth in its turnover figures, up to 41.2 million euros. By geography, revenues in Spain increased by 42.7%, while Italy contributed 3.4 million, 45.5% more. In Germany, the turnover – which includes its Vienna medical center – gained 32.3% to 10.5 million euros.

These are figures that have beaten consensus forecasts and that have led several analysis houses to anticipate that, probably, will revise their annual estimates for the firm upwards. One of the analysts who has spoken in this line is Ángel Pérez Llamazares, from Renta 4.

In his opinion, these accounts that “significantly exceed our expectations” are marked by “the high rate of activity in the clinics” which has followed its reopening. In addition, it emphasizes that “margins above those registered in a normal year show the ability to generate economies of scale in the business.”

Dividend at sight

Regarding shareholder remuneration, the company has proposed to its next general meeting a dividend of 0.552 euros gross per share on May 28, which at market prices translates into a profitability of 4.2%. And Pérez Llamazares warns that “he would have sufficient financial capacity for the payment of another dividend with similar characteristics and maintain its net cash position positive “.

And all this despite the fact that operating expenses they increased by 17%, to 26.6 million euros.

Currently, the Chinese group Aier Eye remains the main shareholder de Clínica Baviera with 79.83% of its share capital. The second place is occupied by founding family of the firm, with a weight of 9.76% through the company Vito Gestión Patrimonial SL. In third and last place of the group of relevant shareholders, the Santander manager, who through funds managed by Lola Solana’s team it has in its portfolio 5.04% of the shares of the listed company.

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