In a preliminary announcement, Orpea reported 15% organic growth in the fourth quarter of 2008.
Analyst Bruno De La Rochebrochard says that he is "very confident" that Orpea will achieve an operating margin of 13% when it reports its full year results on April 28.
Total sales rose nearly 29% in 2008 to €704m, some €36m above initial guidance. Sales outside France came to €88m from its small operations in Belgium,Spain, Italy and Switzerland.
De La Rochebrochard says that the Spanish, French and Italian markets remain less competitive and less price sensitive than Germany, where it appears Marseille Kliniken saw occupancy rates drop in the fourth quarter. Analysts are attributing this to the recession.
