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  BASTIDE company press release from 10/05/2023

  10/05/2023 - 17:45

BASTIDE : Organic growth accelerated to 9.1% in third-quarter 2022-2023 // 2022-2023 targets confirmed

Caissargues, May 10, 2023

In € millions 2021-2022 published 2021-2022* restated 2022-2023 published Change
3rd quarter revenue 118.5 115.8 130.6 +12.8%
9-month revenue 341.5 334.6 380.1 +13.6%

*Revenues restated for assets held for sale

Groupe Bastide reported an excellent performance in the third quarter, with revenue of €130.6 million, up 12.8% and up 9.1% on an organic basis1. This acceleration was driven by the more technical business activities (Respiratory, Nutrition-Perfusion-Stomatherapy), which maintained strong momentum and recorded revenue of €75.4 million, up 23.0% (up 16.9% on an organic basis). The “Homecare” business revenue came in at €55.2 million, up 1.3% (up 0.1% on an organic basis). The unfavorable base effect linked to sales of personal protective equipment (PPE) during the Covid?19 pandemic diminished, but still had an impact of 4.4% on growth in the "Homecare" business. Excluding PPE sales, revenue was up 5.7%.

This quarterly performance brings revenue for the first nine months of 2022-2023 to €380.1 million, up 13.6%, including organic growth of 6.4%. Scope effect for the period was €22.8 million.

Breakdown of nine-month revenue by business

Homecare: Revenue totaled €163.2 million, up 4.1% (down 0.9% on an organic basis) despite a 58% contraction in PPE sales. Excluding PPE, the business overall grew by 8.8% (up 3.4% on an organic basis).

  • In communities, the Group's revenue was unchanged at €72.5 million (down 1.6% on an organic basis). Excluding the impact of PPE sales, revenue was up 3.6% on an organic basis, reflecting the resilience of this business sector.
  • In stores/online, revenue rose by 7.7% (down 0.3% on an organic basis) to €90.6 million. Excluding PPE, the segment grew by 3.2% on an organic basis.

The “Respiratory” business posted revenue of €120.5 million, up 22.7% (up 11.9% on an organic basis). This excellent performance stemmed from ongoing strong momentum in France. Business also held up very well internationally, particularly in Spain where growth was very strong, further highlighting the Group's potential in this country. In the United Kingdom, revenue performance was supported by inflation-linked price increases, which have had an impact as from the third quarter. Lastly, the recently acquired companies, Medpro, Oxystore and 4SMed, also delivered an excellent performance.

The “Nutrition-Perfusion-Stomatherapy” business reported revenue of €96.5 million, up 21.1% (up 14.0% on an organic basis). All segments of this business continued to perform well, delivering organic growth of between 8% and 20%.

Overall, international activities increased in line with the Group's development strategy and now represent more than 18% of revenue (compared to 16% in the first nine months of 2021-2022).

2022-2023 outlook confirmed

Given the good business momentum, Groupe Bastide is confidently reiterating its annual targets of around €510 million for revenue and a recurring operating margin of over 8.3%.

As announced alongside our first-half results, the improvement in operating cash flow, already visible in the first half, remains a major priority. The objective is to begin to reduce the Group's debt in the second half and to free up new financial resources with the aim of pursuing selective external growth operations targeting international markets, as well as recurring and high value-added businesses.

1 Organic growth calculated at constant exchange rates and on a like-for-like basis, restating 2021-2022 for the contribution of companies acquired within the last 12 months

As a reminder, Groupe Bastide is holding its first videoconference for its shareholders and individual investors on Thursday, May 11, 2023 at 6:00 pm (CET).

To register and participate, click on the link below:



2022-2023 revenue on Wednesday, August 30, 2023 after the close of trading

About Groupe Bastide Le Confort Médical

Created in 1977 by Guy Bastide, Groupe Bastide is a leading European provider of home healthcare services. Present in 7 countries, Bastide develops a permanent quality approach and is committed to providing medical devices and associated services that best meet patients' needs in key health areas: diabetes, nutrition, infusion, respiratory care, stomatherapy and urology. Bastide is listed on Euronext Paris (ISIN: FR0000035370, Reuters BATD.PA, - Bloomberg BLC: FP).

Groupe Bastide Actus Finance  
Vincent Bastide/Olivier Jourdanney
T. +33 (0)4 66 38 68 08
Hélène de Watteville
T. +33 (0)1 53 67 36 33 
Press – Media
Déborah Schwartz
T. +33 (0)1 53 67 36 35

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  Original Source: BASTIDE