DURBAN – Listed private hospital group Mediclinic International said on Thursday that it would continue to navigate the Covid-19 pandemic despite a slow recovery in its southern African operations while Switzerland and United Arab Emirates (UAE) had rebounded since May.
Chief executive Dr Ronnie van der Merwe said Mediclinic had delivered a robust operating performance during the six months to September, with the group’s operational agility being a key contributor.
“We saw trading rebound from May, particularly in Switzerland and the UAE, as the initial peak of the pandemic passed. In southern Africa, the recovery has been more gradual due to the timing of the initial peak and the larger volumes of Covid-19 patients Mediclinic has treated,” Van der Merwe said.
However, revenue declined 7 percent to £1.41 billion (R29.16bn) and the group said this was significantly impacted by April due to the sudden onset of Covid-19 restrictions.
It said adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) tumbled 32 percent to £171 million and adjusted operating profit plummeted 54 percent to £66m while adjusted earnings per share declined 77 percent to 2.3 pence a share. The group’s April revenue was down by 33 percent and adjusted earnings with interest, taxes, depreciation and amortisation fell by around £60m compared with the same month last year.