Unlevered free cash flow pre-M&A (uFCF) is defined as the sum of cash flow from operating activities of continuing operations, net CAPEX (defined as the cash outflow from purchase of intangibles and property, plant and equipment, net of proceeds from sale of intangibles and property, plant and equipment) and leases (defined as the sum of lease repayments and lease interest).

Return on capital employed is defined as last twelve months AOP after tax (using a normalized tax rate of 28%) on capital employed (defined as the sum of goodwill, net fixed assets and net working capital), adjusted for rights of use assets and deferred tax.

II. Q2/H1 2021 SEGMENT REPORTING 


In EUR million                     Revenue                                            AOP 
               Q2 2021 Q2 2020 Organic Growth Underlying Growth Q2 2021 Q2 2020 Margin, Q2 2021 Margin, Q2 2020 
France          213.0   118.0      76.6%            -1.4%        46.8    20.6        22.0%           17.4% 
Germany         188.4   121.4      55.2%            +5.7%        49.6    14.3        26.3%           11.8% 
South           281.2   163.3      71.4%            +5.3%        75.5    21.4        26.8%           13.1% 
North & East    302.2   100.5      198.7%          +45.0%        117.3    8.7        38.8%           8.7% 
SYNLAB Group    984.8   503.2      94.1%           +11.7%        289.1   65.0        29.4%           12.9% 
In EUR million                     Revenue                                            AOP 
               H1 2021 H1 2020 Organic Growth Underlying Growth H1 2021 H1 2020 Margin, H1 2021 Margin, H1 2020 
France          441.6   236.0      84.7%            +0.4%        116.7   40.7        26.4%           17.3% 
Germany         367.2   234.3      56.7%            +2.9%        96.0    20.8        26.1%           8.9% 
South           545.5   306.2      77.5%            +5.5%        139.2   30.6        25.5%           10.0% 
North & East    568.8   206.3      176.1%          +24.8%        217.5   18.2        38.2%           8.8% 
SYNLAB Group   1,923.0  982.8      94.9%            +7.6%        569.4   110.4       29.6%           11.2%

III. KEY FINANCIALS

HALF-YEAR VIEW 


Simplified P&L 
In EUR million                    H1 2021   H1 2020   Growth 
Revenue                           1,923.0    982.8     +96% 
Gross profit                      1,446.8    736.0     +97% 
AEBITDA                            662.7     193.0     x3.4 
As % or revenue                    34.5%     19.6%   +14.8pts 
Adjusted operating profit (AOP)    569.4     110.4     x5.2 
As % or revenue                    29.6%     11.2%   +18.4pts 
Operating profit                   515.3     71.6      x7.2 
Financial result                  (75.4)    (100.0)   (25%) 
Income tax expenses               (111.8)    (5.4)      na 
Adjusted net profit                371.5      7.5      +364 
Net profit (Group share)           343.2    (21.5)     +365 
Non-diluted EPS (?)                1.65       na        na 
Simplified Cash flow 
In EUR million                    H1 2021   H1 2020   Growth 
Operating cash flow                 523       92       +431 
Unlevered Free Cash Flow            428        9       +419 
Net debt and leverage 
In EUR million                   Jun. 2021 Dec. 2020  Growth 
Net debt                           1,619     2,235    (615) 
Adjusted net debt                  1,632     2,254    (622) 
Leverage ratio                     x1.4      x3.3     (x1.9)

QUARTER VIEW 


Simplified P&L 
In EUR million                   Q2 2021 Q2 2020  Growth 
Revenue                           984.8   503.2    +96% 
Gross profit                      751.6   367.8   +104% 
AEBITDA                           338.6   108.0    x3.1 
As % or revenue                   34.4%   21.5%  +12.9pts 
Adjusted operating profit (AOP)   289.1   65.0     x4.4 
As % or revenue                   29.4%   12.9%  +16.4pts 
Operating profit                  257.1   46.9     x5.5 
Financial result                  (47)    (60)     +13 
Income tax expenses               (54)     (2)     (52) 
Adjusted net profit               181.8    8.8     +173 
Net profit (Group share)          155.1   (3.1)    +158 
Simplified Cash flow 
In EUR million                   Q2 2021 Q2 2020  Growth 
Operating cash flow                291     40      +251 
Unlevered Free Cash Flow           246     (3)     +249

^[1] EXCLUDING ESTIMATED REVENUE GROWTH RELATED TO SARS-COV-2 CONTRIBUTION (TESTING REVENUE NET OF ATTRITION IMPACT)

^[2] ATTRITION IMPACT ON REVENUE FROM CONFINEMENT MEASURES, SUCH AS CLOSURES OF BLOOD COLLECTION POINTS OR PATIENTS DELAYING NON-CRITICAL MEDICAL CARE, THAT RESULTED IN TEMPORARY DECREASES IN ORDINARY TESTING VOLUMES

^[3] INCLUDING TESTING REVENUE IN ACQUIRED COMPANIES

^[4] BASED ON 207,901,234 WEIGHTED AVERAGE SHARES OUTSTANDING

^[5] NET DEBT TO LTM PRO-FORMA ADJUSTED EBITDA

^[6] SEE DEFINITION IN APPENDIX -----------------------------------------------------------------------------------------------------------------------

2021-08-12 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de ----------------------------------------------------------------------------------------------------------------------- 


Language:     English 
Company:      SYNLAB AG 
              Moosacher Straße 88 
              80809 Munich 
              Germany 
Phone:        +49 1701183753 
E-mail:       ir@synlab.com 
Internet:     www.synlab.com/ 
ISIN:         DE000A2TSL71 
WKN:          A2TSL7 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange 
EQS News ID:  1225856 
 
End of News   DGAP News Service 
-------------

1225856 2021-08-12

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1225856&application_name=news

(END) Dow Jones Newswires

August 12, 2021 01:29 ET (05:29 GMT)