1.4.2019
The revenue of the Mehiläinen Group grew in 2018 by EUR 160.4 million (21.2%) over the previous year, reaching EUR 915.9 million. Underlying EBITDA was EUR 108.1 million, an increase of 16.5% compared to 2017. Gross investments excluding acquisitions increased by 68.2% to EUR 34.6 million. Mehiläinen achieved strong profitable growth across all of its businesses. More than half of the growth was accomplished organically, without major acquisitions.
“The positive development of our business was particularly attributable to the strong organic growth of Mehiläinen’s occupational healthcare services, strategic cooperation with our insurance company partners and the start-up of several new agreements for public healthcare services. We also made several small acquisitions and added over 700 new beds for the elderly, disabled and mental health rehabilitees, which is the highest number in company history,” says Herkko Soininen, CFO of Mehiläinen.
The outlook for 2019 is positive for Mehiläinen. As a result of growth projects that have already been completed, revenue is expected to exceed one billion euros for the first time in the Group’s history.
Mehiläinen uses the widely used NPS (Net Promoter Score) indicator to measure the customer experience in healthcare services. Mehiläinen’s NPS remained at a record high level in 2018, at 88 (2017: 88).
“We invested particularly in digital services in 2018. Among other things, we launched the artificial intelligence-based Wellbeing Radar operating model for our occupational healthcare customers and developed further treatment paths for the OmaMehiläinen mobile application. We also invested in the quality of care and the measurement of effectiveness,” says Janne-Olli Järvenpää, CEO of Mehiläinen.
Mehiläinen’s personnel consisted of over 18,800 employees and private practitioners in 2018.
(Figures for 2017 shown in brackets)
1) Underlying EBITDA is operating profit before depreciation, amortisation, impairment losses and items affecting comparability.
2) Underlying EBITA is operating profit before depreciation and amortisation arising from business combinations, impairment losses and items affecting comparability.
3) Operating profit before depreciation and amortisation arising from business combinations and impairment losses.
4) Tax footprint including employer’s contributions. The tax footprint of the private practitioners operating at Mehiläinen comes on top of the Mehiläinen’s tax footprint. The tax footprint of the private practitioners amounts to an estimated EUR 59.0 million (EUR 52.8 million).
5) Corporate taxes for the financial year include all income taxes recognised on the profit for the financial year and income taxes recognised during the financial year for adjustments to income in previous periods (does not include deferred taxes).
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