REM Results Bearish

REMGRO LIMITED - Summary of Mediclinic Holdings Limited results for the year ended 31 March 2026

Remgro Limited
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What this filing means

Remgro's voluntary disclosure of Mediclinic's FY26 results reveals a $733m net loss driven by massive Swiss impairments, overshadowing a 45% increase in adjusted operating earnings.

Bull case

  • Adjusted EBITDA grew by 14% to $842m, with the EBITDA margin expanding to 15.7% supported by revenue growth and cost efficiencies.
  • Balance sheet discipline improved, with the leverage ratio reducing to 2.7x from 3.1x and cash conversion strengthening to 106%.

Bear case

  • Headline growth was significantly flattered by currency translation, as adjusted revenue growth of 11% drops to only 5% in constant currency terms.
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Category
Results
Event posture
No Edge
Published
May 29, 2026

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