NotreDame Intermedica’s Profit Rises 97.8% in The Third Quarter

The company reported net income attributable to shareholders of R $ 197.2 million in the period.

NotreDame Intermedica recorded a 97.8% increase in net income attributed to the company’s shareholders in the third quarter, to R $ 197.2 million, compared to the same interval in 2019.

Net revenue grew 24%, to R $ 2.7 billion, in the annual comparison, as a result of the growth of the health and dental plans business lines.

The net revenue from health plans totaled R $ 2.48 billion, an increase of 29.5% in relation to 2019. The net revenue from dental plans was R $ 74.4 million, an increase of 4.2%.

In addition, between July and September, revenue from hospital services from new hospitals acquired by the company in the last 12 months contributed R $ 39.9 million.

Revenue from the “same hospitals”, on the other hand, fell 47.2% compared to the third quarter of 2019, as it still shows negative effects of the pandemic and social distance.

Earnings before interest, taxes, amortization and depreciation (EBITDA) increased 57.2%, to R $ 437.5 million.

The jump, according to NotreDame, is related to the “robust revenue growth, the continuous improvement of the cash loss ratio and the dilution of administrative expenses”, which fell 2.87%, to R $ 266.7 million, in the third quarter of this year compared to the same interval last year.