Oncoclínicas Group ends 2022 with record net revenue of BRL 4.1 billion

• Revenue grew 51.3%, of which 29.5% were organic, driven by larger volume of treatments;
• The company's net profit in 2022 was BRL 114 million;
• EBITDA reached BRL 673 million, 80% higher than in 2021.

SÃO PAULO, March 30, 2023 /PRNewswire/ -- Oncoclínicas Group (ONCO3) – the largest group dedicated to cancer treatment in Latin America – announced its results for the fourth quarter of 2022 and for the entire year. The biggest news was the 51.3% increase in the company's 2022 net revenue, with a record total of BRL 4.1 billion. This performance is the result of a 29.5% increase in organic revenue, together with the acquisitions completed and the acceleration of cancer center operations, which continue to gain relevance within the mix.

"Our culture is based on quality care and operational efficiency, which are reflected in our experienced team and high performance. The numbers are a reflection of our efficient management. We've grown the company, mainly organically and through strategic partnerships, and by leveraging synergies and integrating our acquisitions more efficiently. This, together with the expansion of our integrated care model, generated the results we saw in 2022.", explains Bruno Ferrari, Founder and CEO of Oncoclínicas.

In turn, gross margin over net revenue leaped from 32.2% in 2021 to 35.5% in 2022, resulting in a 67.1% increase in gross profit, which totaled BRL 1.5 billion. The annual net profit closed at BRL 114 million, reversing a loss of BRL 22 million in 2021.

In the full year 2022, EBITDA reached BRL 673 million, 80.3% higher than the previous period. This growth continues to reflect progress in integrating the operations acquired by Oncoclínicas, which are all aimed at increasing efficiency and synergies. In 2022, the company registered a total of 500,800 procedures, an increase of 30.9%.

Q422: Closing the year with good results

The balance sheet for the fourth quarter of 2022 shows net revenue of BRL 1.2 billion, up 58.4% year-over-year. In the same period, Oncoclínicas recorded the largest unadjusted EBITDA margin in the group's history at 19.6% with an EBITDA of BRL 239 million. This is a 114.7% increase on the fourth quarter of the previous year.

In order to boost its profitability, in 2022 the company began to execute its corporate restructuring project for standardizing the effective income tax rate, thus eliminating tax inefficiencies.

The number of procedures increased 41.8% in Q422 compared to Q421, with a total of 144,500, stimulated by both the acceleration of organic growth and the integration of the acquisitions made.

About Oncoclínicas Group

Oncoclínicas - the largest group dedicated to cancer treatment in Latin America - has a specialized, innovative model focused on the whole Oncology treatment journey, combining operational efficiency, humanized service and high specialization, through a medical team composed by 2,600 specialist physicians, mainly focused on Oncology. Having its mission to democratize cancer treatment, it offers a complete system composed by integrated outpatient clinics and high-complexity cancer centers. Currently the group owns 133 units across 35 Brazilian cities allowing access to cancer treatment in all regions where it operates and following world-class quality standards.

Leveraging Technology, Precision Medicine and Genomics, Oncoclínicas delivers effective results in cancer treatment, having performed more than 500,000 treatments during last year (2022). It is an exclusive partner in Latin America of Dana Farber Cancer Institute, affiliated to Harvard Medical School. The group also owns Boston Lighthouse Innovation, a company specialized in bioinformatics, from Cambridge, United States and holds shares of Medsir, a Spanish company dedicated to developing and managing clinical trials for independent cancer research. The company also develops projects in collaboration with Weizmann Institute of Science, in Rehovot, Israel, one of the most prestigious science and research institution in the world.