Oncoclínicas&Co has revenues of R$6 billion and profit of R$313 million in 2023

April 02, 2024 03:38 AM AEDT | By Cision

Oncoclínicas&Co has revenues of R$6 billion and profit of R$313 million in 2023 — Image source: Kalkine Media

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Increase in the number of patients treated and gains in operational efficiency explain record results

SÃO PAULO, April 2, 2024 /PRNewswire/ -- Oncoclínicas&Co (B3: ONCO3) – the largest group dedicated to cancer treatment in Latin America – reported a 35.1% growth in its gross revenue in 2023, totaling R$6.0 billion. This performance was mainly due to the growth in the number of patients treated, with around 635 thousand procedures performed, an increase of 26.8% compared to 2022. In the fourth quarter of 2023 (4Q23), gross revenue reached R$1.6 billion, an organic growth of 18.7% compared to the same period in 2022. The Company continued to grow at an accelerated pace, not only because of the greater number of patients in its units, but also due to its various strategic partnerships with health plans and operators, without compromising on excellence in patient care.

In 2023, gross cash profit totaled R$1.9 billion, corresponding to a margin of 35.4%, which represents an increase of 33.7% over that reported in 2022. EBITDA totaled R$1.0 billion for the entire year (R$1.1 billion excluding the non-cash effect of the long-term incentive plan accounting calculation, or on an ex-PILP basis), 58.9% above 2022, reflecting not only the Company's revenue growth, but also efficiency gains captured in the operation.

This was the sixth consecutive quarter of net profit, which reached the mark of R$87.0 million for 4Q23. Total net profit for 2023 was R$312.6 million, 174.7% higher than that recorded in 2022. Net profit without the effect of PILP was R$359.4 million in 2023. The company is now reaping the fruits of its corporate structure rationalization project, which began around two years ago. There was also enormous progress in addressing the level of minority participation in net profit. Net income per share, excluding minority shareholders, increased from R$0.08 per share in 2022, to R$0.40 per share in 2023, an increase of 383.4%.

"These numbers reflect our commitment to the company's principles of employing technology, medical excellence and hyper-specialization, always considering cost-effectiveness and continually seeking efficiency gains, at the service of our patients, doctors and partners", highlights Bruno Ferrari, founder and CEO of Oncoclínicas&Co.

For more information, visit http://www.grupooncoclinicas.com

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