Photo of the Orpea logo at the entrance to a retirement home in Reze
(Archyde.com) – Retirement home group Orpea reported a net loss for the first six months of the year on Wednesday, which it explained by a drop in the value of its assets.
Orpea, which is at the heart of investigations into accusations of abuse of residents, posted a net loss of 269 million euros in the first half of 2022, against a profit of 102 million euros in the same period last year. .
“The company has been severely affected by both the shortcomings and unethical behavior of its former managers, by too rapid international and real estate development, which have weakened Orpea’s financial situation”, declared the director. General Laurent Guillot in a press release.
Orpea announced in June that an independent audit had confirmed malfunctions and wrongful behavior in some of its establishments, while indicating that certain allegations made against the group – including those of embezzlement, tax evasion and mistreatment of patients – were not proven.
At least two-thirds of Orpea retirement homes in France were inspected in the first six months of the year, Laurent Guillot told a press conference call. The French government announced in March that all of France’s 7,500 nursing homes would be audited over the next two years, as part of a plan to better oversee their activities.
The group, which operates in 22 countries and is one of the largest managers of care homes in Europe, said depreciation and provisions amounted to 333.2 million euros in the first half of the year. year, compared to 268.7 for the same period in 2021.
Orpea also confirmed that the Ebitdar margin rate in the second half could be lower than that of the first half due to the volatility of energy prices, which would force Orpea to approach the creditors concerned to renegotiate the financial covenants. impacted.
(Report Diana Mandiá, French version Augustin Turpin, edited by Jean-Stéphane Brosse and Matthieu Protard)