1 A refoundation underpinned by strong values Financial restructuring well under way
2 Key features of the financial restructuring
2023 half-year results
3 Conclusion
Laurent Guillot
Chief Executive Officer
Laurent Lemaire
Executive Vice-President,
Finance, Procurement, IT
Laurent Guillot
Chief Executive Officer
2023 HALF-YEAR RESULTS
2
refoundation underpinned by strong values
Laurent Guillot
Chief Executive Officer
Key highlights
REFOUNDATION PLAN
Taking care
Major achievements in rebuilding labour relations
Resources strengthened to deliver quality care and support
A first step towards becoming a purpose-driven company: our values
FINANCIAL PERFORMANCE
Operating profitability and liquidity
› H1 2023 EBITDAR: down 21% vs. H1 2022
• Occupancy rate increasing at Group level, except for nursing homes in France
• Higher personnel costs incurred to improve the quality of care and support
•
Inflationary pressure (e.g, on food …)
•
Tariff adjustments spread over time: jaws effect over 2023
Real estate disposals and geographic refocusing
More than €200m of real estate disposals signed
Geographic refocusing under way (Latvia disposal)
Financial restructuring
24 July: Safeguard Plan ("Plan de Sauvegarde" ) approved
Main next steps:
Early November 2023: Court of Appeal decision regarding the appeals against the AMF exemption
Implementation of three capital increases (Q4 2023 and Q1 2024): updating of the Business Plan
› 2023 outlook
•
FY2023E EBITDAR
-
As estimated on 13 July ~€705/750m
-
Vision to date: lower end of this range
•
Net cash flow before financing for 2023 : in line with Safeguard Plan
2023 HALF-YEAR RESULTS
4
Major steps forward in rebuilding labour relations (France)
28 MARCH 2023
10LOCAL SOCIAL AND ECONOMIC
Trade union elections : new representative bodies
COMMMITEES
1 in each of the 9 main areas in France and 1
at HQ level
354 STAFF REPRESENTATIVES
3 REPRESENTATIVE UNIONS
as close as possible to employees' concerns
at national level
Collective agreements signed at ORPEA SA level: towards a new normal
Unanimous signing of two collective agreements providing for unprecedented pay
rises : CLINEA in December 2022 and ORPEA in June 2023
13th-month bonus ("13ème mois") phased implementation between 2023 and 2025
General salary increase for non-executive employees applicable
Allocation of a budget for individual increases for executive staff
New profit-sharing agreement for 2023 - 2024 - 2025
2023 HALF-YEAR RESULTS
5
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Orpéa SA published this content on 11 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 October 2023 16:42:26 UTC.
ORPEA is the European leader in global dependency care. The group operates retirement homes, follow-up care clinics, and psychiatric clinics. At the end of 2023, ORPEA had a network of 1,031 facilities (93,470 beds) located in France/Benelux/United Kingdom/Ireland (574 facilities; 45,431 beds), Central Europe (247; 24,316 beds), Eastern Europe (124; 12,764 beds), the Iberian Peninsula and Latin America (83; 10,394 beds), China (2; 154 beds) and the United Arab Emirates (1; 36 beds).
As of December 31st , 2023, the estimated value of the real estate portfolio was EUR 6.3 billion.
Net sales are distributed geographically as follows: France/Benelux/the United Kingdom/Ireland (58.4%), Central Europe (26%), Eastern Europe (9.9%), Iberian Peninsula and Latin America (5.5%) and other (0.2%).
ORPEA 
