Medicover Revenue Rises 6% to €570.8 Million as Operating Profit Jumps 22%
Key Facts
Medicover reported revenue from continuing operations of €570.8 million in the third quarter of 2026, up 6% from €538.7 million in the same period a year earlier, while organic growth reached 8%. Chief Executive John Stubbington said revenue rose 6%, reflecting organic growth stronger than the year-on-year increase. Operating profit increased to €49.3 million from €40.4 million, a rise of 22%, according to the CEO’s statement in the interim report for July to September. The operating margin was 8.6%, compared with 7.5% a year earlier. The results show operating profit growing faster than revenue during the quarter.
In the first nine months of 2026, revenue from continuing operations rose to €1,721.6 million from €1,618.0 million in the corresponding period of 2025, a gain of 6%. This puts the third-quarter result in line with the revenue growth recorded since the start of the year, with the overall increase for the nine months remaining at the same rate. In the third quarter alone, organic growth was 8%, while total revenue increased 6%, the company said. Comparing the quarter with the period since the start of the year gives a picture of the continuity of business growth in 2026. Operating profitability in the quarter rose faster than revenue, with the margin improving to 8.6%.
In its laboratory business, the number of tests performed during the quarter rose 5.3% to 40.2 million, from 38.2 million in the third quarter of 2025. The company said test volumes increased by this rate during the period, indicating an expansion in laboratory activity compared with the previous year. Hospital and outpatient operations in Poland also recorded double-digit growth in fee-for-service and other services. Stubbington said this performance was partly offset by the impact of more challenging economic conditions in Romania. The two markets therefore made different contributions during the quarter, with strong growth in Poland and economic challenges limiting performance in Romania.
On its operating outlook, Medicover said it expects continued weakness in public reimbursements and tariff mix in its main European markets. It said these factors are creating some near-term pressure, without describing them as an explanation for a gap between actual revenue and analysts’ expectations. At the same time, the company believes restricted access to publicly funded care may support continued demand for timely care through private-pay channels. The company linked this potential effect to the medium term, while describing pressure from market conditions as near-term. This places private-pay services at the center of its demand outlook as access to public care remains constrained.
The company continues to redirect its portfolio toward units where it sees greater potential. Stubbington said Medicover closed 118 facilities and opened more than 140 in the twelve months ended with the third quarter of 2026. The net difference between the number of facilities closed and opened reflects an expansion in the number of locations, alongside a reshaping of the portfolio, according to figures provided by the CEO. In a move related to a change in the scope of its business, the company said the sale of its hospital operations in India will generate gross cash proceeds of about €0.74 billion upon completion. Medicover expects the deal to close in the fourth quarter of 2026. The sale of the Indian business is a prospective development in the group’s portfolio during the remainder of the year.
Medicover is scheduled to publish its interim report for October to December and its full-year 2026 results on 10 February 2027, according to its financial calendar. The next report will provide fourth-quarter and full-year data after the expected completion date for the sale of the Indian hospitals. This follows revenue growth of 6% in the first nine months, and an improvement in operating profit and its margin in the third quarter. The coming period’s results will also follow the company’s warning of continued near-term pressure in its main European markets. The scheduled annual report remains the next announced milestone for investors.