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Mediclinic reports Covid-19 profit hit

16 Oct 2020

 

The group, which has operations in SA, the Middle East and Switzerland, took a severe hit in the early part of its first half as patients stayed away from hospitals and delayed optional surgical procedures.

Earnings before interest, taxation, depreciation and amortisation (ebitda), fell 33% to about £168-m (R3.6-bn) in its six months to end-September. With the initial peak of the pandemic passing in early August, surgical case volumes improved, driven by a return in demand for elective procedures. This improving trend stabilised towards the end of September with paid patient days recovering to about 90%of prior year levels. As a result, Mediclinic Southern Africa revenue was down about 6% in September.

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