Tue 08/29/2023 11:29 AM
German private nursing care home operator Alloheim’s first-quarter EBITDA more than halved year over year after Covid-19 test reimbursements ended and personnel costs surged. That, together with a jump in working capital due to difficulties in processing insurance payments turned free cash flow negative. As a result the group drew down €25 million under its RCF to shore up its cash balance during the quarter, sources said.
Alloheim generated €278.9 million of sales during the first...
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