Revenue for the nine months ended 30 September 2023

Clariane Group


Solid revenue growth in the first nine months of the year

• Organic revenue growth for the nine months ended 30 September 2023: +9.0%
• All regions and business lines contributing to growth
• New ESG Entity Rating of 2 from Sustainable Fitch, reflecting Clariane’s “good ESG profile”
• 2023 guidance: organic revenue growth of more than 8%, stable amount of EBITDAR, leverage ratio around 3.8x, depending on the completion schedule of current real-estate partnerships

Paris, 24 October 2023 – Clariane (CLARIA.PA – ISIN FR0010386334), announces its revenue for the nine months ended 30 September 2023.

(€ million)

First nine months of 2023

First nine months of 2022

Reported growth

Organic growth


3,731.3 3,344.0 11.6% 9.0%
France 1,644.0 1,545.1 6.4% 6.1%
Germany 867.5 795.0 9.1% 12.7%
Belgium/Netherlands 557.1 488.9 14.0% 14.0%
Italy 455.1 409.3 11.2% 7.1%
Spain/UK 207.6 105.7 97.6% 8.6%

Sophie Boissard, CEO of Clariane, said: “The Group’s business continued to make steady progress in the first nine months of the year, despite an environment of continuingly tight caregiver recruitment and high inflation. This performance demonstrates the relevance and resilience of our diversified business model of caring for vulnerable people in the heart of their communities, through our specialist Long-Term Care, Healthcare, and Community Care networks.
I am delighted that the major ESG efforts made by the Clariane community have been acknowledged by the rating agency Sustainable Fitch, which awarded us a rating of 2 for our inaugural rating defined as a “good ESG profile”. This result commits us to pursue the fundamental work we have been doing in line with our commitments made when adopting our status as a mission company.
In July, the Group completed major financing milestones that demonstrated the continued confidence of its financial partners. However, credit conditions continue to tighten and will remain so for an extended period. In this context we are making improvement in cash-flow generation and control of our debt a priority and in addition to the very sharp reduction in development investment planned over the next few years, we are studying different options including the realisation of a programme of targeted disposals. Our recent investments and continuous improvements over recent years will support our growth and enable us to gradually improve our operational and financial performance.”

Clariane’s revenue in the first nine months of 2023 amounted to €3,731 million, up 11.6% on a reported basis and up 9.0% at constant scope and exchange rates. Reported growth was boosted by the acquisition of Grupo 5, but also adversely affected by disposals carried out in 2022, notably in Germany.

Across the Group as a whole, in the Long-Term Care segment, the occupancy rate rose to 88,0% in the first nine months of 2023 as opposed to 86,2% in the same period of 2022. This reflects a gradual return to a normalized post-Covid and the ramp-up of facilities that have recently been brought into service. To note, the occupation rate in September 2023 reached 88.9%.

The Group has delivered and refurbished 58 new facilities, representing 1,200 beds, over the period as a whole.

In the third quarter, revenue totalled €1,246.4 million versus €1,128.7 million in the previous year period, representing reported growth of 10.4% and organic growth of 8.3%.

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