Medicover AB (publ) (MCOV_B) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the MediCover Q2 2025 report presentation. For the first part of the conference call, the participants will be in listen-only mode. During the questions and answers session, participants are able to ask questions by dialing pound key 5 on their telephone keypad. Now I will hand the conference over to the speakers, CEO John Stubbington and CFO Anand Patel. Please go ahead. Good morning, everybody. It's John here and welcome to our presentation for Q2. As you can see here on the headline, we've sort of positioned this as sustained high growth with strengthening profit margins, which I think is really, really good. When asked to frame the first quarter from many people, I think I positioned it as strong. I think to frame the second quarter, our positioning would be actually it's a little bit stronger. You can see strong growth coming through with good operational leverage. And this, of course, is improving our operating cash flow, which we're very, very pleased with. From a growth perspective, 17.1, you know, we're seeing growth in all markets, which is good. A little bit later on, we'll talk you through each of the markets and how it's progressing. But literally across the board, we're in a good position. Most of this growth is organic. As you can see, there's a relatively small amount of revenue that's come through with recent acquisitions. And of course, growing rate revenue is one thing, but at the end of the day, we want to expand our margins. And again, that's really going well for us. All of our metrics from a profit perspective are up. I think I'll leave Anna to talk through that. And this is being driven by our strong Polish market as usual. Pleasingly, our Romanian hospitals are starting to mature, which is what we expected. We've brought in the acq...