Clariane posts 4.7% organic revenue growth

Clariane said in a Wednesday press release that first-nine-month 2026 revenue rose 4.7% organically to €4.051 billion, compared with €3.976 billion a year earlier.

The result matters for Clariane’s recovery plan because reported growth was 1.9%, held back by 2025 disposals, while nursing-home occupancy averaged 92.2%, up from 90.8% a year earlier.

All listed regions and business lines contributed to organic revenue growth, the French care and nursing-home group reported. Third-quarter revenue reached €1.352 billion, up 2.4% on a reported basis and 4.9% organically from the third quarter of 2025.

“With organic growth of +4.7%, the first nine months of 2026 confirm the strong momentum established in the second half of 2025 across all our business segments and geographies,” Chief Executive Officer Sophie Boissard said.

Occupancy provided one of the main operating indicators behind the update. In France, medicalized nursing-home occupancy reached 91.1% in the third quarter of 2026, compared with 89.5% in the same quarter of 2025.

Volume growth added 1.6%, or €62 million, over the first nine months. Pricing and case-mix effects, which reflect changes in rates and the type of care provided, added 3.1%, or €118 million. Portfolio and other items subtracted 2.8%, or €105 million, mainly because of disposals under the group’s financial strengthening plan.

The regional picture was uneven on a reported basis. Germany revenue rose 3.9% to €1.021 billion and Belgium and the Netherlands revenue rose 6.0% to €665 million. France revenue fell 0.9% to €1.694 billion, while Italy revenue declined 3.4% to €444 million.

Spain was the fastest-growing listed region, with revenue up 15.4% to €227 million. Organic growth was positive in every listed region: Spain rose 14.0%, Germany 6.7%, Belgium and the Netherlands 6.3%, Italy 3.3% and France 2.1%.

A €2.3 billion refinancing programme was completed in September, an amount equal to about 57% of Clariane’s first-nine-month revenue, according to Atlas360 calculations. Boissard said the transaction helped “simplify our financial structure and extend our debt maturities.”

Debt protection was another focus of the update. The group said 92% of its financial debt was fixed-rate or hedged, a structure that can limit the effect of higher market rates on interest costs. Moody’s confirmed Clariane’s B2 rating with a stable outlook, according to the release.

Management also confirmed financial and non-financial objectives for the 2023-2026 and 2025-2028 periods, without giving additional numerical targets in the release.

At Sept. 30, the group operated 1,224 facilities with more than 89,000 beds, compared with 1,233 facilities and more than 90,000 beds a year earlier. The network change reflected disposals in France, Italy and Germany, closures and restructuring in several countries, 30 new facilities in France and Spain, and two additions in Spain.

Training capacity is also being expanded. Clariane is integrating the training division of Fondation Œuvre Croix Saint-Simon, adding seven healthcare and social-care training institutes in the Île-de-France region that train nearly 800 young professionals each year.