Netcare Limited has issued its voluntary trading update for the year ended 30 September 2021, reporting a strong financial position with revenue, EBITDA and EBITDA margins having improved.
On Friday, 22 October 2021, Netcare Limited issued its voluntary trading update for the year ended 30 September 2021. The group noted that it continued to pivot its business within a fluid operating environment to deal with the changing demands brought about by the pandemic.
Netcare reported that its financial position remained strong with net debt levels having reduced by R1.1 billion in the past year. The group revenue, earnings before interest, tax, depreciation, and amortization (EBITDA) and EBITDA margins are reported to have shown a steady sequential improvement from the first half of 2020 to the first half of 2021.
Revenue increased by between 11.0 percent and 12.0 percent, with the group EBITDA improving between 22.0 percent and 26.0 percent against the year ended 30 September 2020. The group EBITDA margin of between 14.9 percent and 15.3 percent reported an improvement by 130 to 170 basis points from the prior financial year.