The company reported 171 million for the last twelve months, with a 60% growth in net revenue and its best EBITDA ever
SAO PAULO, May 22, 2023 /PRNewswire/ -- Oncoclínicas Group (ONCO3) - the largest group dedicated to cancer treatment in Latin America - announced its results for the first quarter of 2023, marking its third consecutive quarter of growth of 33% and its best-ever EBITDA, which reached 145%, with a total of BRL 277 million. The company set another record by reporting a 60.1% increase in net sales to BRL 1.3 billion.
The results are due to a growth in turnover (32.5%), along with acquisitions completed in 2022 and acceleration of cancer center activities. Compared to the previous quarter (Q422), net revenue growth was 6.3% and over the twelve-month period it amounted to BRL 4.6 billion. Net income reached BRL 41 million in the first quarter of this year, and completing three consecutive quarters of growth.
"Our culture is based on operational quality and efficiency, supported by a high-performing team. Specialization in cancer care, patient-centered care, medical innovation and scalable processes enable us to execute our model of excellence in healthcare. In 2022, Oncoclínicas has been very successful in terms of its strategic partnerships and the speed of integration of its acquisitions. We continue this movement and have started the year with excellent results that demonstrate the Group's potential for further expansion," explains Bruno Ferrari, founder and CEO of Oncoclínicas.
The number of treatments given to patients increased by 46.7% in Q1 23 compared to Q2 22, reaching 151,100. In the last twelve months, the number of procedures increased by 38.7% to a total of 548,900, an acceleration compared to the growth in the previous quarter, both in terms of organic volume and the integration of the acquisitions made.
According to Cristiano Camargo, the company's Investor Relations Director, the positive numbers reflect the successful extraction of synergy from the most recent acquisitions and the expansion of an integrated care model for cancer patients. "The numbers demonstrate that the company conducts its operations with efficiency and professionalism, managing the synergies created from the new acquisitions and reorganizing its tax distribution, an important task carried out by the company in 2022."
Oncoclínicas' gross margin grew from 33.6% in Q122 to 36.4% in Q123, as a result of increased efficiency in highly complex units, leading to a growth of 73.4% in gross profit in the quarter, which reached BRL 1.7 billion. Finally, the greatest EBITDA in its history totaled BRL 277 million, a growth of 145.4% compared to the same period of last year, when it recorded BRL 112.8 million. For the twelve months ended in March 2023, the EBITDA was BRL 837 million, 112.2% greater than the BRL 394 million recorded in the same period of 2022, reflecting improvements in the process of integrating the units acquired and gains in efficiency. In the space of just one quarter, the Company reduced its level of operating expenses from 17.6% to 15%.
About Oncoclinicas Group
Oncoclínicas - the largest group dedicated to cancer treatment in Latin America - has a specialized, innovative model focused on the whole Oncology treatment journey, combining operational efficiency, humanized care and high specialization, through a medical team composed by 2,600 specialist physicians, mainly focused on Oncology. Having its mission to democratize cancer treatment, it offers a complete system composed by integrated outpatient clinics and high-complexity cancer centers. Currently the group owns 133 units across 35 Brazilian cities allowing access to cancer treatment in all regions where it operates and following world-class quality standards.
Leveraging Technology, Precision Medicine and Genomics, Oncoclínicas delivers effective results in cancer treatment, having performed more than 500,000 treatments during last year (2022). It is an exclusive partner in Latin America of Dana Farber Cancer Institute, affiliated to Harvard Medical School. The group also owns Boston Lighthouse Innovation, a company specialized in bioinformatics, from Cambridge, United States and holds shares of Medsir, a Spanish company dedicated to developing and managing clinical trials for independent cancer research. The company also develops projects in collaboration with Weizmann Institute of Science, in Rehovot, Israel, one of the most prestigious science and research institution in the world, where Bruno Ferrari, the founder and CEO of Oncoclínicas, sits on the international board.
For further information, visit www.grupooncoclinicas.com