SHL TELEMEDICINE LTD. Press Release
SHL announces annual results 2018
Tel Aviv / Zurich, 12 March 2019 - SHL Telemedicine Ltd. (SIX Swiss Exchange: SHLTN) ("SHL"), a leading provider and developer of advanced personal telemedicine solutions, announced today the results 2018.
Highlights Full-Year 2018: Outstanding financial performance
- Revenues grew by 31% to USD 48.9m from USD 37.4m in 2017
- Income of USD 8.6m from cost saving delivered under Chronic Disease Management Service contracts in Germany
- Significant growth in profitability: EBITDA[1] grew by 81% to USD 16.5m and net income by 321% to USD 10.1m
- Operating free cash flow[2] of USD 11.6m and paid down USD 13.0m of debt this year
Yoav Rubinstein, CEO of SHL Telemedicine, said: "We are very pleased by these results and achievements. We have grown our business and delivered significant value to our customers this year while preparing the company for future growth opportunities. We will continue to deepen the penetration of our platforms in the German and Israeli markets while expanding the smartheartTM platform in the US and other global territories. The bonus income of USD 8.6m from chronic disease management programs relating to cost savings in the years 2015-2017, is demonstrating the effectiveness of our Telehealth programs and the value they provide to our customers."
Growing demand for digital applications in Germany
The German business performed well in 2018 with revenue and profitability growing. The strategy of offering a wide range of services across a broad spectrum of clients, including the top health insurers in Germany, has resulted in the solid operating performance. SHL continues to invest in the digitization of its platform to meet the growing needs of patients to interact with SHL through multiple communication channels. SHL was the first company to launch in the German market a digital demand health services application for our customers.
SHL's Israeli business performed well, too. Revenues were stable compared to 2017. SHL is focusing on introducing new programs and products to increase customer retention and attract new customers.
smartheartTM has made further progress during the period with additional customers from various countries joining the platform. Revenues from the platform reached USD 0.6m this year, growing by 200% compared to 2017.
[1] Earnings before interest taxes depreciation amortization and impairments
[2] Cash from operating activities net of investments in fixed and intangible assets
The consolidated financial statements published today are only part of the financial statements announced for today under "IR agenda & events" on SHL's website. The Annual Report 2018 (with Corporate Governance Report 2018) will be published on March 28, 2019, on the website.
The Consolidated Financial Statement 2018 is available as of today on:
www.shl-telemedicine.com/about-us/investorrelations/financial-reports-pres-2019/
Key figures (as reported)
in USD million (except per share amounts) | 2018 | 2017 | % change |
Revenues for the year | 40.3 | 37.0 | 9% |
Performance-based revenues | 8.6 | 0.4 | 1984% |
Revenues | 48.9 | 37.4 | 31% |
Revenues
| 27.6 20.7 0.6 | 16.7 20.5 0.2 | 65% 1% 200% |
EBIT | 12.0 | 4.1 | 192% |
EBITDA | 16.5 | 9.1 | 81% |
Net profit | 10.1 | 2.4 | 321% |
EPS | 0.96 | 0.23 | 317% |
Operating Free cash flow | 11.6 | 10.3 | 13% |
FY18 results conference call
A conference call for investors, journalists and analysts to discuss the Full Year Results 2018, hosted by Yoav Rubinstein, CEO, and Yossi Vadnagra, CFO, will take place today, 12 March 2019, at 10:00am CET.
Dial-in numbers: | |
From Europe | +41 (0)58 310 50 00 |
From UK | +44 (0) 207 107 06 13 |
From Israel | Toll free: 1 80 921 44 27, Local: +972 3763 1173 |
Financial calendar | |
28 March 2019 | Annual Report 2018, incl. Corporate Govenance Report |
11 July 2019 | Annual General Meeting, Tel Aviv, Israel |
19 September 2019 | Half-year 2019 results |
| Provider | Channel | Contact | ||
|---|---|---|---|---|
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EQS Group Ltd., Switzerland switzerland.eqs.com |
newsbox.ch www.newsbox.ch |
Provider/Channel related enquiries cs.switzerland@eqs.com +41 41 763 00 50 |
