• The company increased its turnover by 5% in the first half of the year compared with the same period in 2023, driven by the growth of all its business areas, especially the Oncology’s area
• Adjusted EBITDA reached EUR 25.3 million in the first half of the year, and the adjusted EBITDA margin improved by 368 basis points thanks to optimisation, efficiencies and operating leverage
• Atrys is in line with the guidance set for 2024, which envisages a turnover of between 220 and 224 million euros and our EBITDA is between 47 and 49 million euros

Atrys, a global healthtech company providing precision medical prevention, diagnosis and treatment services, pioneer in telemedicine and oncology treatment, has announced its results for the first half of 2024, which reflect the company’s strong performance in all its business areas, and reiterate the guidance for the full year (220-224 million euros in revenues and 47-49 million euros in adjusted EBITDA).

During the first six months of 2024, Atrys reported revenues of €107.4 million, up 5% (6.4% at constant exchange rates) from €102.3 million in the same period of 2023. Adjusted EBITDA improved significantly with a growth of 24.6% compared to the same period in 2023, reaching EUR 25.3 million. Gross Margin grew 2.8% to June to EUR 72.2 million.

In the first semester of 2024, Atrys CAPEX investment decreases to €6 million compared to €6.8 million in H1 2023. Of this, €1.3 million corresponds to expansion CAPEX, specifically the opening of medical oncology centres in Mexico.

Operating Cash Flow increased by 46% and Operating Cash Flow adjusted for non-recurring expenses increased by 43.2% compared to the first six months of FY2023.

Santiago de Torres, CEO of Atrys, said: ‘The company continues to grow organically, improving both revenues and EBITDA, thus meeting the guidance we set for this year. The first half results reflect our leadership position in our main business areas, especially in Medical Oncology. For the remainder of the year, we will continue to strengthen the growth of our core business and introduce new business areas in Chile, which are in demand by both health insurers and the public health system’.  

Growth in all its business areas

In the first half of the year, Atrys has consolidated its growth in its main lines of activity in both Spain and Latin America. Specifically, from January to June, the company’s turnover in the Spanish market grew by 4.4% to 81.2 million euros.

In the Latin American market, turnover grew by 8.7% to more than 20 million euros.

By business areas, Atrys’ Oncology division led growth with a turnover 8.7% higher than in the same period last year, especially highlighting the acceleration of the ramp-up of the medical oncology division in Mexico, whose revenues increased from 0.6 million euros in the first half of 2023 to 2.7 million euros in the current financial year.

In the Prevention’s segment, the company recorded a 5.1% increase in turnover compared to 2023, driven by a 7.8% increase in the number of medical check-ups and a 3.1% increase in the average ticket per check-up. It has also been influenced by the improvement in the client renewal rate, which rose from 89% in the first half of 2023 to 92% this year.

To conclude, revenues in the Diagnostics segment grew by 1.8% (6.4% at constant exchange rates), with strong growth in the Laboratory area (Pathology and Genetics), which increased its revenues by 32.8%, due to the good performance of the ramp-up of the Madrid laboratory.

As regards adjusted EBITDA, there was a notable improvement in the margin of all segments, with an increase of 368 b.p. due to the optimisation of efficiencies and the improvement in operating leverage.

Today, Wednesday 31 July, at 10:00h, the Atrys H1 2024 results presentation webcast will take place. Registration through this link.