Atrys reports Adjusted EBITDA of 31.2 million euros in the first nine months of the year, up 31.7% from 2023

Atrys, a global healthtech company providing precision medical prevention, diagnosis and treatment services and a leader in telemedicine and oncology treatment, today announced results for the third quarter of 2024, reflecting solid overall growth in both revenue and Adjusted EBITDA.

In the first nine months of 2024, the company’s revenues increased 5.8% year-on-year, or 7.2% at constant exchange rates, to 155.6 million euro. This increase was driven by the generalised growth of all the company’s business lines, with special emphasis on the Oncology area.

Gross margin grew 4.2% year-on-year to September to 102.6 million euro, compared to 98.5 million euro in the first nine months of 2023. The gross margin over revenues was 66%, slightly lower than in the same period last year, due to the greater weight of the Medical Oncology and Diagnostics areas in the company’s overall revenues.

EBITDA exceeded EUR 26.2 million, an increase of 33.1% over the previous year, and Adjusted EBITDA improved to EUR 31.2 million in the first nine months of the year, 31.7% higher than in the same period of 2023. In addition, the Adjusted EBITDA margin over revenues improved substantially from 16.09% to 20.02%, supported by the operational growth and cost savings and efficiency plans implemented in the first nine months of 2024.

For its part, the company has contained CAPEX investment, which stood at €7.97 million, down 4.6% due to lower CAPEX growth. In addition, operating cash flow has increased by 60.8% compared to the previous year, reaching €18.3 million as of September 2024.

Growth in all business lines with a focus on Latin America

The company’s results for the first nine months of 2024 confirm the positive evolution of all its business areas, with special emphasis in the Oncology segment. Added to this is the Group’s firm commitment to the Latin American countries in which it is present, specifically Brazil, Chile, Colombia, Mexico and Peru, where Atrys has increased its revenues by 10.6%, or 18.6% considering a constant exchange rate, to reach 30.6 million euros at the end of September 2024.

By business segment, revenues in the Diagnostics area amounted to EUR 48.6 million, with a 5% growth in revenues (9.5% at constant exchange rates). Of note was the good performance of the laboratories segment, which grew 30.9%, driven by the new laboratory in Madrid.

The Oncology segment, on the other hand, grew 7.6% to 45.6 million euros. Of note in this segment was the 11.6% increase in the Medical Oncology area, driven by increased activity in Mexico.

The Prevention area increased its turnover by 5.1% to 61.4 million euros in the first nine months of the year. This growth was driven by a 4% increase in the number of medical check-ups and a 2% increase in the average ticket per check-up.