• The company increased its turnover by 5% in the first half of the year compared to the same period in 2023, driven by growth in all its business areas, specially in the Oncology area
• Adjusted EBITDA reached 25.3 million euros in the first half of the year, and the adjusted EBITDA margin on revenues improved by 368 basis points thanks to optimization, 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 an EBITDA of between 47 and 49 million euros

Atrys, a global healthtech company providing precision medical prevention, diagnosis and treatment services and a 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 business areas, and reiterate the guidance for the full year (220-224 million euros in revenue and 47-49 million euros in adjusted EBITDA).

During the first six months of 2024, Atrys reported revenues of 107.4 million euros, up 5% (6.4% at constant exchange rates) from 102.3 million euros in the same period of 2023. Adjusted EBITDA improved notably with a growth of 24.6% compared to the same period of 2023, reaching EUR 25.2 million.

Gross Margin recorded a growth of 2.8% to June, reaching 72.2 million euros in the first half of 2024.

In the first half of 2024, Atrys’ CAPEX investment decreased to 6 million euros compared to 6.8 million euros in the first quarter of 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, Executive President of Atrys said: ‘The company continues to grow organically, improving both revenue 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 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 over 20 million euros.

By business area, Atrys’ Oncology division led growth with a turnover 8.7% higher than in the same period last year, being particularly noteworthy 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 segment, the company recorded a 5.1% increase in revenues compared to 2023, driven by a 7.8% rise 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 has risen from 89% in the first half of 2023 to 92% this year.

Lastly, revenues in the Diagnostics segment grew 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. Register through this link.