HBI Deals+Insights / News

Clariane vs. emeis: which is weathering the storm better?


Shares of France’s two listed pan-European nursing home giants, emeis (formerly Orpea) and Clariane (formerly Korian) have both fallen precipitously since the start of 2022. Two years down the line, which group’s finances are in better shape?



The below infographics compare the revenue, EBITDA and EBITDAR changes of both companies and their performance across various regions in Europe, in 2023.

emeis recorded an 11% increase in revenue, a -10.8% EBIDTAR change and a -13.8% EBIDTA change. Clariane, on the other hand, saw an 11.4% rise in revenue, a 3.3% increase in EBIDTAR, and a 1.1% uptick in EBIDTA. Whilst Clariane has maintained positive shares, emeis has had some negative trading trends.

Breaking down the financials by region, emeis’ saw revenue growth across all its regions (France, Benelux, the UK, Ireland, Central Europe, Eastern Europe, and the Iberian Peninsula and Latam). EBITDAR grew in the Iberian Peninsula and Latam, as well as Eastern Europe. However, it saw EBITDAR decreases in Central Europe, France, Benelux, the UK, and Ireland.

Clariane also reported revenue growth across all its markets (France, Germany, Belgium, the Netherlands, Italy, Spain, and the United Kingdom). But it did better on EBITDAR, which grew across all areas except Germany.

We would welcome your thoughts on this story. Email your views to Theo Murray or call 0207 183 3779.