The former Orpea confirmed the robustness of its transformation plan by reporting a sharp increase in activity indicators for the first quarter of 2026. Driven by a commercial turnaround and improved quality of care, the dependency care specialist is now nearing its pre-Covid performance levels.
The group notably revealed a steady rise in its average occupancy rate, which reached 89.1%, representing a 2.1-point year-on-year increase. Over two years, the recovery is even more striking, with a 4.1-point gain.
Revenue: favorable price and volume effects
At the end of March, emeis recorded organic revenue growth of 6.3% (compared to +6.1% in 2025), reaching 1.509 billion euros. This performance was fueled by two levers: the price effect, thanks to an average revaluation of 3.9% across all regions, and international momentum. While France grew by 4.8%, international operations drove growth with a 7.3% organic increase.
The clinics division also showed encouraging signs, with a 4.9% increase over the quarter.
Outlook: emeis confirms its 2026 ambitions
On the back of this strong start to the year, management confirmed its short- and medium-term financial targets. For the 2026 fiscal year, the Group anticipates like-for-like Ebitdar (EBITDA before rent) growth exceeding 10%.
In the longer term, the 2024-2028 trajectory was reiterated, with a target average annual Ebitdar growth of between 12% and 16%.
EMEIS is the European leader in global dependency care. The group operates retirement homes, follow-up care clinics, and psychiatric clinics. At the end of 2025, EMEIS has a network of 1,044 establishments (91,995 beds) located in particular in France (360 facilities; 33,402 beds), Northern Europe (383; 27,340 beds), Central Europe (137; 12,667 beds), Southern Europe and Latin America (121; 14,275 beds).
As of December 31st , 2024, the estimated value of the real estate portfolio was EUR 5.6 billion.
Net sales are distributed geographically as follows: France (41%), Northern Europe (30.2%), Central Europe (16.7%), Southern Europe and Latin America (8%) and other (4.1%).
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