The Bastide Médical group continues its growth dynamic, but must reduce its debt

The Bastide Médical group continues its growth dynamic, but must reduce its debt

For Vincent Bastide, CEO of the Bastide Medical group, priority is given to reducing debt, which reaches 324 million euros. Midi Libre – MiKAEL ANISSET

The Nîmes group, specializing in home health care, posted half-year results for 2023-2024 up 6.1%. Objective Vincent Bastide, its CEO: to continue the reduction of the group's debt, which has reached 324 million euros.

The Nîmes group Bastide Médical, specializing in home health care, shows an increase in its activity of 6.1% in the first half of 2023-2024, to €265 million ;rsquo;euros. This dynamic is strongly driven by organic growth, which represents 5.7%.

The diversification, which began a few years ago, is starting to bear fruit. Thus, highly technical activities, such as respiratory assistance, nutrition, infusion and stomatherapy dominate the activity. With nearly 160 million euros, they now account for 60% of total turnover.

International takes up more space, with 18% of activity

"There is a reversal in the dynamics of activities", insists Vincent Bastide, CEO. The home care activity, the historical orientation of the group founded in 1977 by Guy Bastide, now represents only 40% of activity. It accounts for 106.2 million euros in the group's half-yearly performance, down 1.6%.

As for international, an orientation developed recently, it accounts for 18% of turnover. Bastide Groupe is now present in eight countries around the world (including six European countries, with strong momentum in the United Kingdom).

Disposals of assets" envisaged

The group also has ambitious prospects for the future. "Given the trends observed" in its markets, it is &quot ;confident" in the continuation of its growth trajectory and "confirms" her goals. It is thus targeting an annual turnover "around 530 million euros" and an operating margin "at least equal to that achieved for the 2022-2023 financial year", i.e. 8.4 %.

But the primary objective remains the reduction of the group's debt. It went from 314 million on June 30, 2023 to 324 million on December 31. It was even erected as a "priority". To achieve its debt reduction objective, the group "continues to study possible disposals of assets which would no longer meet its strategy".

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