Clariane revenue rose 1.9% to €4.051 billion in the first nine months of 2026, while organic growth reached 4.7% as nursing home occupancy improved across the care group’s operations.
Key Takeaways
- The gap between reported and organic growth primarily reflected disposals completed in 2025.
- Clariane completed nearly €2.3 billion of refinancing transactions and reaffirmed its financial and non-financial objectives.
Clariane revenue and occupancy
Revenue for the nine months ended September 30 increased from €3.976 billion a year earlier. Clariane said all activities and regions contributed to organic growth, supported by higher volumes, prices and changes in the mix of care provided.
Average occupancy at medicalized nursing homes rose to 92.2% from 90.8% over the same period in 2025. In France, third-quarter occupancy reached 91.1%, compared with 89.5% a year earlier.
Third-quarter group revenue was €1.352 billion, up 2.4% on a reported basis and 4.9% organically from the same quarter in 2025.
| Item | Details |
|---|---|
| France | Nine-month revenue: €1.694 billion; organic growth: 2.1% |
| Germany | Nine-month revenue: €1.021 billion; organic growth: 6.7% |
| Belgium and the Netherlands | Nine-month revenue: €665 million; organic growth: 6.3% |
| Italy | Nine-month revenue: €444 million; organic growth: 3.3% |
| Spain | Nine-month revenue: €227 million; organic growth: 14.0% |
Regional and business performance
Reported revenue fell in France and Italy despite organic growth in both markets. Clariane attributed the difference to disposals made in 2025. Spain recorded the fastest organic growth among the regions listed by the company.
Long-term care revenue rose 1.3% to €3.053 billion, with organic growth of 5.2%. Specialty care revenue reached €998 million, up 3.7% on a reported basis and 2.9% organically.
Refinancing and objectives
Clariane said it completed nearly €2.3 billion of refinancing transactions during the first nine months, simplifying its financing structure and extending debt maturities. As of September 30, 92% of its financial debt was at fixed rates or hedged.
Moody’s confirmed Clariane’s B2 credit rating with a stable outlook on October 27. The company also reaffirmed its financial and non-financial objectives for 2023–2026 and 2025–2028. These are targets, not completed results; the earlier period’s objectives include approximately 5% average annual organic revenue growth on a pro forma basis.
Care training expansion
Clariane University is due to integrate the training division of Fondation Œuvre de la Croix Saint-Simon from November 17, 2026. The care training partnership covers seven institutes in the Paris region, and the division trains nearly 800 students each year.
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