03/28/2024 – 23:56
A Hapvida NotreDame Intermédica ended 2023 with a 10.1% growth in its net revenue, which stood at R$27.4 billion – compared to R$24.9 billion in 2022. The result reflected both the improvement in the accident rate and the increase in the ticket average.
The loss ratio (measure of the operator's medical expenses with the beneficiary in relation to how much they receive from them) decreased from 74.9% in the 1st quarter of 2022 (the year in which there was the merger between Hapvida and NotreDame Intermédica) to 69.3% in period from October to December last year. “It was the best performance since the merger” of the two companies, said Hapvida CEO, Jorge Pinheiro.
The indicator for the 4th quarter of 2023 is still the first below 70% in the company.
The average ticket was R$ 256.50 in the 4th quarter – a value 10.8% above the R$ 231.60 in the same period of 2022. The increase, according to Hapvida, reflects the price recomposition strategy and review of the client portfolio (in order to increase the profitability and sustainability of the portfolio).
Also in the last quarter of last year, net revenue was R$6.9 billion, against R$6.5 billion a year before (an increase of 6.7%). Leverage, in turn, decreased from R$7.1 billion to R$4.8 billion at the end of last year (a drop of 32.5% compared to a year before). As a result, the indicator fell from 2.45x to 1.38x of Ebitda.
Ebitda
The operator recorded an adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) of R$950 million in the last quarter of 2023, an amount 85.5% above that recorded a year earlier. The Ebitda margin reached 13.7% in the period (4.5 percentage points above that recorded between October and December 2022).
According to Pinheiro, the result comes from cost control – with verticalization and integration of acquired companies – and a price adjustment policy, “always paying attention to the elasticities of the company's channels”.
With verticalization, Hapvida now has 796 units – of which: 87 hospitals; 77 emergency services; 339 clinics; and 293 diagnostic and laboratory collection units. The company currently has around 16 million beneficiaries.
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