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HomeEconomyCUF with profits of 39.8 million to grow by 9.5% in 2023

CUF with profits of 39.8 million to grow by 9.5% in 2023

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CUF granted an exceptional bonus of 11 million euros to employees. In 2023, continued investment in expansion, innovation and research will reach more than €120 million.

The consolidated net profit of the CUF Group grew from 33.7 million to 39.8 million euros, an increase of 9.5% in 2023. “The development in the assistance activity contributed to a consolidated net profit of 37.8 million euros,” highlights the group led by Roy. Deniz.

CUF's operating income rose by 18.8% in 2023, compared to the previous year, to 755.9 million euros, the health group said in a statement.

Operating expenses increased by 18.2%, reaching €635.7 million.

Earnings before interest and tax (EBIT) increased from 57.5 to 72.8 million euros, an increase of 26.6%, and the EBIT margin increased from 9% to 9.6%, an increase of 0.6 percentage points.

“With the expansion of the network and scope of services, the RUF has strengthened its proximity to the population, providing health care to more than 1,200,000 people, meaning that in 2023, 11% of Portuguese have entrusted it with their health,” the group notes.

In a statement, CUF explained that “the increase in the supply of healthcare, which allowed a closer and more flexible response through the national network of hospitals and clinics, digital channels or home services, translated into 2.9 million consultations, 10 million tests, 43 thousand remote consultations.” 64.5 thousand surgeries, 451 thousand emergency cases, and 4.3 thousand births.

As for the infrastructure sector, its weight reached 26.7% in the net result for the year 2023, according to the group working in the health sector.

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“The ratio of net financial debt to EBITDA (operating income plus depreciation, amortization, provisions and impairment losses) decreased from 4.67 times at the end of 2022 to 4.19 times, due to improved EBITDA, and remained… The financial independence ratio is at around 21%, in line with 2022 values.

The group added that CUF's care indicators “developed positively” compared to previous periods, highlighting consultations, hospitalization days and surgeries “with a growth of more than 12% and emergency services with an increase of 10.5%, compared to the same period last year.”

He added: “Emergency services increased by 10.5%, and births recorded a growth of 7.2% in a row, compared to the previous year's numbers.”

CUF highlighted the award of an exceptional bonus of 11 million euros, “and continues to invest in increasing the value of salaries by increasing the wage bill by 7.8%.”

The group, led by Rui Diniz since January 2021, also highlights that “in fiscal year 2023, CUF expanded its sponsorship network.”

“Continued investment in expansion, innovation and research has therefore remained a priority, reaching more than 120 million euros, almost double the amount recorded in 2022,” the statement read.

“To respond to the needs of those in need of healthcare, CUF has expanded its geographical scope to include autonomous regions, through the acquisition of the CUF Açores Hospital. The CUF network has also reached a new territory with the opening of the CUF Leiria Clinic, which is the first step towards the opening of a future hospital, In 2025, which will be ready to respond to the most complex situations.

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Also noteworthy is the future CUF Covilhä Hospital, which will be completed in 2027, as part of its expansion to other regions of the country, as well as the acquisition of Grupo Clínica Médica Arrifana de Sousa, in the north, which includes a hospital hospital and six clinics located in the area. Tameja E. Souza.

The strengthening of teams and services was also highlighted, including home hospitalization, which is now available in the Greater Porto and Tagus Valley regions and in São Miguel, in the Azores, the opening of day oncology hospitals in the CUF and Torres Vedras Santarém hospitals, as well as investment in the implementation of New and differentiated clinical approaches.

This expansion of network and scope of services has resulted in the group providing healthcare to more than 1.2 million people.

The increase in health care supply resulted in 2.9 million consultations, 10 million examinations, 43,000 remote consultations, 64.5,000 surgeries, 451,000 emergencies, and 4.3,000 births.

“With regard to the environmental dimension, the search for more efficient and environmentally sustainable measures stands out, with the aim of reducing the environmental footprint, with regard to the consumption of natural resources and waste production. CUF said: “Reducing one million sheets of paper and reducing carbon dioxide (CO₂) emissions of A reduction of 46% are two of CUF’s environmental performance achievements in 2023.”

The CUF Group highlights that in 2023, CUF will record an increase in productivity, linked to the significant growth in its network, the number of customers served, as well as the scope of services offered.

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