Ramsay Health Care Limited’s (ASX: RHC) subsidiary Ramsay Santé delivers resilient first-quarter results. The European healthcare operator reports revenue growth of 2.6% for the quarter ending 30 September 2025. Ramsay Santé revenue update shows unaudited group revenue reached EUR 1.21 billion.
Figure 1: Ramsay Health Care facility signage
The Ramsay Santé results demonstrate strong operational performance despite challenging conditions. Government funding cuts impact the quarter, yet disciplined cost management drives profitability. The Company maintains momentum across France and Nordic operations.
Revenue Growth Strengthens Across Key European Markets
Ramsay Santé achieved EUR 1.21 billion in consolidated revenue for 1QFY26. Activity volume growth supports the performance. Price indexation in Sweden contributes to expansion. Favourable foreign exchange movements provide additional uplift.
Organic revenue growth stands at 1.9% on a like-for-like basis. France operations grew 1.4% despite one less business day this quarter. Hospital admissions increased across the network. Revenue in the Nordic countries surged 5.4% on a reported basis.
The Ramsay Santé profit update highlights resilience in core markets. Medicine, surgery, and obstetrics patient stays rose 2.0% in France. Ambulatory care stays jumped 3.5% year-on-year. Sweden benefits from primary care activity expansion and growing patient lists.
EBITDA Climbs Despite Funding Headwinds
Group EBITDA increased by EUR 7 million or 6.5% to EUR 112 million for the quarter. This growth occurs despite significant challenges. The French government’s revenue guarantee ended on 1 January 2025. This represents a EUR 7 million shortfall versus the prior year.
Figure 2: Ramsay Santé’s 1QFY26 financial summary
Cost inflation continues outpacing government funding indexation. Medical staff salaries and procurement costs rise faster than tariff increases. Recent imaging tariff decisions in France signal ongoing pricing pressure. Public payors maintain tight control over service pricing.
The Ramsay Santé results show EBITDA margin improved 0.3% points to 9.3%. Strong performance in Sweden drives much of this improvement. Primary care operations contribute significantly to Nordic growth. Productivity efforts offset cost pressures across all geographies.
Cost Discipline Supports Ramsay Santé Results Amid Tight Funding
Ramsay Santé implements comprehensive cost management initiatives. Administrative cost reductions deliver savings. Agency staff optimisation improves margins. Productivity enhancements match staffing levels to activity volumes.
Procurement cost optimisation continues across the network. The portfolio of facilities undergoes continuous review. Specialty offerings adjust within geographical clusters. This responds to local constraints, needs, and opportunities.
The Ramsay Santé revenue update confirms operational efficiency gains. Revenue development initiatives expand in day medicine. Imaging activities grow strategically. Medical purchases and consumption require careful optimisation. These measures support profitable growth despite funding constraints.
France Segment Underpins Ramsay Santé Revenue Update
France’s revenue grew 1.4% to reach a solid quarterly performance. Like-for-like growth of 1.9% demonstrates underlying strength. The MSO tariff indexation of 0.5% from March 2025 provides modest support.
Hospital admissions increased despite challenging conditions. MSO patient stays rose 2.0% year-on-year. Ambulatory care stays jumped 3.5%, reflecting care model evolution. Day hospitals in medicine expand to meet patient needs.
Out-of-hospital activities develop rapidly. Two new mental health outpatient settings opened during the quarter. France now operates 10 such facilities. New imaging heavy equipment installations enhance service capacity. The Cosem primary care integration progresses well.
Nordic Countries Deliver Strong Growth
Nordic revenue grew 2.6% on a like-for-like and constant exchange rate basis. Reported revenue growth reached 5.4%. Favourable foreign exchange fluctuations contribute EUR 9 million or 2.6%. The Swedish krona’s appreciation versus the euro supports the results.
Sweden underpins solid organic growth across the region. Primary care activity benefits from long-term patient list increases. St Göran hospital grows volumes while reducing length of stay. This improves efficiency and patient throughput.
Figure 3: A healthcare professional interacting with patients
Denmark faces mixed conditions in the quarter. Primary care units experience softer activity. Danish hospital revenue stabilises following Copenhagen facility mergers. The Ramsay Santé profit update shows Nordic operations remain crucial for group performance.
Two primary care centres opened in Norway during the quarter. These operate under a new public partnership model. The expansion demonstrates Ramsay Santé’s commitment to integrated care services. The Nordic strategy focuses on coordinating entire care pathways.
Mission-Led Growth Strategy Supports Ramsay Santé Results
Ramsay Santé pursues its mission-driven strategy. The Company commits to constantly improving health through innovation. New care models are being implemented across the network. Patient-centred approaches guide service development.
The “Yes We Care 2025” strategy progresses well. Integrated care services span the entire patient care pathways. Prevention through follow-up care receives strategic focus. All populations benefit from enhanced healthcare access.
Day hospitals in medicine have expanded significantly in France. These align closely with patient healthcare needs. Outpatient activities develop across the network. The Ramsay Santé profit update confirms strategic progress.
Medical excellence remains central to operations. The group engages systematically with all stakeholders. Environmental protection initiatives support health improvement goals. Best-in-class healthcare delivery guides daily operations.
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Ramsay Health Care Share Price Performance
Ramsay Health Care shares trade at AUD 30.890 on the ASX. The Company’s market capitalisation stands at AUD 7.21 billion. The 52-week range spans AUD 30.390 to AUD 41.440 per share.
Figure 4: Ramsay Health Care’s one-year share price performance
The stock reflects broader healthcare sector dynamics. European subsidiary performance impacts group results. Investors monitor Ramsay Santé developments closely. The quarterly updates provide important operational insights.
Ramsay Health Care maintains diverse geographic exposure. Australian operations complement European activities. The group serves millions of patients annually. Scale advantages support competitive positioning.
