Beneficial interest AvH: 92.5%
AvH Contact: Jan Suykens
Anima Care resolutely opts for quality. It combines a pleasant living environment with a high quality of service. Anima Care focuses on the continuous improvement of its working methods and operating systems, and pays special heed to the selection, coaching and development of its staff, who put the quality vision and values of Anima Care into practice day after day.
At year-end 2016, Anima Care had 1,347 retirement home beds, 77 convalescent home beds and 197 service flats in operation, spread over 14 care centres (7 in Flanders, 3 in Brussels, 4 in Wallonia).
Anima Care realized a turnover of 56.4 million euros in 2016. The turnover increase by 9.4 million euros compared with 2015 is primarily attributable to the expansion of the portfolio. The newly built residence ‘Aquamarijn’ in Kasterlee opened at the end of March 2015 and made a full year’s contribution to the result in 2016. The acquisitions of ‘Le Birmingham’ and ‘Duneroze’, with a total of 260 beds, were reported as of the last quarter of 2016, so far with only a limited impact on the result.
The four newly built residences, which opened during the 2013-2015 period, are beginning to run at full capacity, which in 2016 was reflected in a significant increase in EBITDAR to 14.0 million euros (2015: 9.3 million euros) and in profit to 3.9 million euros (2015: 1.1 million euros).
The group’s equity increased from 40.0 million euros at year-end 2015 to 46.6 million euros at year-end 2016. In 2016, the capital was paid up further to the amount of 2.5 million euros, leaving at year-end 2016 6.7 million euros of capital still to be paid up.
The net financial debt increased from 69.2 million euros at 31/12/2015 to 72.7 million euros at 31/12/2016. This increase is largely attributable to the financing of the acquisition of the operation and buildings of ‘Duneroze’. The acquisitions of ‘Duneroze’ and ‘Le Birmingham’ largely account for the increase in the balance sheet total from 140.2 million euros at year-end 2015 to 151.9 million euros at year-end 2016.
In the spring of 2016, Anima Care started construction work on 22 service flats in Blegny, next to the care centre that opened in October 2013. They will be completed in the second quarter of 2017.
In November 2016, Anima Care acquired ‘Le Birmingham’ in Sint-Jans-Molenbeek and ‘Duneroze’ in Wenduine. ‘Le Birmingham’ has 60 retirement home beds, while ‘Duneroze’ has 160 retirement home beds and 40 convalescent home beds in operation.
At the end of 2016, a contract was signed for the acquisition of the three Brussels retirement homes of Valmont Santé Belgium, which together have 167 retirement home beds in operation. The acquisition is scheduled for the end of March 2017.
Several building projects in Aalst, Zoutleeuw and the Brussels-Capital Region, and renovation works in Berlare and Awans are in preparation.
In 2017, a great deal of effort will be invested in the integration and operational improvement of the recent acquisitions. In the spring, work will begin on the new extension with 30 beds in Aalst, while the renovation of 52 rooms in Berlare will start as well. The acquisition of operations from Valmont Santé Belgium also includes a new construction project in Vorst. Planning permission has already been granted, and construction work will begin in the course of 2017. Subject to the necessary planning permissions being granted, construction works for the other projects currently in preparation will be started up as well.
Anima Care will continue to invest in its growth by acquisitions, the development of new care centres, the extension of existing care centres, and the expansion of its range of services. The growth of activity, high-quality service and operational improvement constitute the foundations for a further improvement of profitability in the future. As a 100% Belgian-based firm, and with its strategy of providing top-quality care and investing in high-quality real estate, Anima Care is a unique player on the Belgian market.