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Intro, Capital and Legal Structure - 17 Oct 24

Industry and Company - 17 Oct 24

Model, Leases and Valuation - 17 Oct 24

Investment Discussion - 17 Oct 24

SARRIA News -INTU
Tomás Mannion
Clariane - comment
Tomás Mannion

As part of the Q3 revenue release, Clariane confirmed they met the €300m minimum liquidity requirements on the 3rd of November intending to

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Tomás Mannion
Tomás Mannion
Clariane - comment
Tomás Mannion

Emies (previously Orpea) reported their Q3 revenue numbers, confirming the occupancy and pricing trends already reported by Clariane.  Emies revenue is up

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Tomás Mannion
Clariane - comment
Tomás Mannion
Clariane - comment
Tomás Mannion

Clariane only releases top-line revenue numbers in Q1 and Q3, so there are not many new details in their Q3 release.  Revenue has grown in line

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Tomás Mannion
Clariane - Looking at it differently
Tomás Mannion
Clariane - Looking at it differently
Tomás Mannion

Please find our updated analysis on Clariane here. 

Clariane has executed three of its four pillars of financial restructuring, with the equity raise completed in early July. With some time available to

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Tomás Mannion
Tomás Mannion
Clariane - comment
Tomás Mannion

The Belgium paper,  De Tijd reported yesterday that the government in the Belgian region of Flanders is considering banning nursing home

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Tomás Mannion
Clariane - comment
Tomás Mannion
Clariane - comment
Tomás Mannion

Clariane continues to see operational improvement, with revenue, EBITDA, and occupancy rates all showing year-on-year growth.  On a country-specific basis,

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Tomás Mannion
Tomás Mannion
Clariane - comment
Tomás Mannion

Clariane has completed their rights issue announced last month raising  c.€237m.  This was fully underwritten so its completion will not impact

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Tomás Mannion
Tomás Mannion
Clariane - comment
Tomás Mannion

Clariane announced the disposal of its residency service activity, Les Essentielles to Odalys, which is part of the Duval Group.  This business was already categorised as

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Tomás Mannion
Tomás Mannion
Clariane - comment
Tomás Mannion

Clariane launched their planned rights issue today as part of their Refinancing Plan. This is the second part of the equity raise required, as announced on

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Tomás Mannion
Clariane - Administrating self help.
Tomás Mannion
Clariane - Administrating self help.
Tomás Mannion

Please find our initial analysis of Clariane here.

With the Company holding an investor Day next Tuesday, this is a preliminary note on Clariane. We have struggled to see what makes people excited about the

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Tomás Mannion
Clariane - comment
Tomás Mannion
Clariane - comment
Tomás Mannion

Clariane released their Q1 revenue numbers last night, in line with their guidance. They do not provide any profitability numbers but can reconfirm their FY24 guidance of

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Tomás Mannion
Tomás Mannion
Clariane - comment
Tomás Mannion

As part of Clariane’s Refinancing Plan, Belgian press are reporting that Rothschild are mandated to sell its Belgian and Dutch facilities. Clariane has

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Tomás Mannion