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Brazil's Rede D'Or Q2 net income drops 25%, but tops views

Adds details on results Aug 15 (Reuters) - Brazilian hospital chain Rede D'Or Sao Luiz SA RDOR3.SA on Monday posted a 25% decrease in its second-quarter net income, a smaller-than-expected decline as results werehit by the country's high interest rate. Rede D'Or registered a net profit of 358.4 million reais ($70.32 million), beating a Refinitiv forecast of 275.9 million reais and compared to a profit of 477.7 million reais in the year-ago period. Earnings before interest, taxes, depreciation and amortization (EBITDA) grew 15.5%, to 1.437 billion reais, nearly in line with a Refinitiv forecast of 1.441 billion reais. The company's net revenues rose 11.1% to 5.8 billion reais. Amid a consolidation in Brazil's healthcare sector, Rede D'Or has acquired 17 hospitals since 2020 and 2,213 new hospitals beds, ending the second quarter with 11,046 beds in total. The company said its bed occupancy rate reached 82.6% in the quarter, 0.4 percentage point below the occupancy rate one year ago, but 4.5 percentage points higher than the previous quarter. "The trend of growth in the occupancy rate of beds since April 2020 illustrates the gradual recovery in the volume of patients, who returned to health facilities" after better protocols against the COVID-19 pandemic, the company said in its quarterly report. ($1 = 5.0967 reais) (Reporting by Carolina Pulice; Editing by Christian Plumb and Leslie Adler) ((Carolina.Pulice@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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