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Amilpar - Revenues Increase by 26.5% and Adjusted Net Income Climbs 28.7% in 2008

RIO DE JANEIRO, March 11 /PRNewswire-FirstCall/ -- Amilpar (BOVESPA: AMIL3, Bloomberg: AMIL3 BZ e Reuters: AMIL3.SA), the largest managed care organization in Brazil, announced today its consolidated results for the periods ended on December 31, 2008.


Total membership stood at 3.2 million at the end of December, 18.4% up on the same period last year and 1.7% higher than the previous quarter.

Adjusted Operating Revenues totaled R$ 1,155.1 million in the 4Q08, 21.1% more than in the 4Q07. Annual adjusted operating revenues came to R$ 4,385.2 million, 26.5% higher than in 2007.

Adjusted EBITDA totaled R$ 105.3 million in the 4Q08, 47.5% up on the previous quarter, accompanied by an EBITDA margin of 9.1%, a 2.8 p.p. improvement. In the 12M08, adjusted EBITDA came to R$ 404.4 million (with a margin of 9.2%), versus R$ 382.8 million in 2007 and R$ 114.5 million in the 4Q07.

The Medical Loss Ratio for healthplan membership stood at 69.0% in the 4Q08, versus 67.6% in the 4Q07. The Loss Ratio was 67.8% in the 12M08, versus 68.1% in 2007.

The Company posted an adjusted Net Income of R$ 89.6 million in the 4Q08, a hefty 108.9% up on the R$ 42.9 million reported in the previous quarter and a 35.8% year-on-year improvement. In 2008 as a whole, adjusted net income stood at R$ 301.1 million, 28.7% higher than the previous year.

Net Cash (cash and cash equivalents less financial debt) closed the year at R$ 1,078.2 million.

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About Amilpar

Amil Participacoes S.A. (Bovespa: AMIL3) is the largest MCO (managed care organization) in Brazil, serving more than 3.2 million members in the States of Sao Paulo, Rio de Janeiro, Parana and Distrito Federal.

SOURCE Amil Participacoes S.A.
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