Medicover Ab Class B · OMXSTO:MCOV_B

Medicover Ab Class B — Q1 2023 Earnings Presentation

14 slides from Medicover Ab Class B's earnings presentation, Apr 27, 2023

  1. Slide 1: Q1 results presentation

    Web cast presentation Q1 results presentation Fredrik Rågmark, CEO & Joe Ryan, CFO 27 April 2023

  2. Slide 2: Disclaimer regarding forward-looking statements

    DISCLAIMER REGARDING FORWARD-LOOKING STATEMENTS This presentation may contain certain forward-looking statements and opinions. Forward-looking statements are statements that do not relate to historical facts and events and such statements and opinions pertaining to the future that, by example, conta

  3. Slide 3: Very high underlying growth

    Very high underlying growth  Covid-19 is in the past □ Despite the disruptions we have kept on expanding the underlying business  Underlying growth up 24.6% □ 27.7% in Healthcare Services □ 19.5% in Diagnostic Services □ More than double revenue from Q1 2019 (last “non Covid” quarter)  Cost infla

  4. Slide 4: Revenue Q1 – strong underlying growth

    Revenue Q1 – strong underlying growth Revenue split per country / payer** Consolidated revenue -14%  Revenue €419.3m (€381.7m), up -16% 4% 8% 400 33.2 4,6 9.9%, organic growth of 4.6%. +30% +17% 16,0 10% 65,5 46% 13%  Strong organic growth in 15,1 +15% 300 underlying business of 24.6%. 19% -13% Po

  5. Slide 5: Underlying margins improving

    Underlying margins improving  EBITDA €54.3m (€62.3m), decreased by 80 25% 12.8%, a margin of 12.9% (16.3%). 20%  Robust margin expansion in the underlying 60 business, 129bps to 12.8% (11.5%). 15%  Adj EBITDA €57.4m (€67.2m), a margin of 40 13.7% (17.6%). 10%  Adj EBITDAaL €33.7m (€47.5m), a mar

  6. Slide 6: Healthcare Services – another very strong growth quarter

    Healthcare Services – another very strong growth quarter 300 250  Revenue was €276.1m (€208.1m), up 32.7% 200 with an organic growth of 20.7%. 150 100  No revenue from Covid-19 in the quarter. 50 Organic growth ex Covid-19 was an 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 impressive 27.7%, price rep

  7. Slide 7: Healthcare Services – good progress in margins but expansion still dilutive

    Healthcare Services – good progress in margins but expansion still dilutive  EBITDA of €34.2m (€25.4m), grew by 34.5%, a 40 25% margin of 12.4% (12.2%). 35 20%  Healthy margin expansion despite the dilution of 30 new units and cost inflation. 25 15%  In the underlying business margin expanded 20

  8. Slide 8: Diagnostic Services – robust growth is back in underlying revenue

    Diagnostic Services – robust growth is back in underlying revenue 200  Revenue was €149.1m (€178.5m), with an organic reduction of 13.7%. 150 100  Revenue from Covid-19 was €4.6m (€54.0m). Covid-19 testing is now part of normal business service. 50  Underlying organic revenue growth was strong at

  9. Slide 9: Diagnostic Services – underlying margins improves on price growth ex Germany and volume improvements

    Diagnostic Services – underlying margins improves on price growth ex Germany and volume improvements  EBITDA of €26.5m (€44.2m), a margin of 60 35% 17.7% (24.7%). 30% 50  EBITDA excluding Covid-19 was €25.2m 25% (€20.3m), an increase of 23.8% and a margin 40 expansion of 109bps to 17.4% (16.3%). 2

  10. Slide 10: Financial overview

    a > a MEDICOVER Financial overview

  11. Slide 11: Financials

    Financials Lease Other Total Implied Implied INTEREST / DEBT liability interest interest Lease interest Gross interest interest costs charge liabilities rate debt rate Q1 23 6.1 5.8 11.9 429.5 5.7% 502.5 4.6% Q1 22 4.8 2.7 7.5 371.0 5.2% 493.2 2.2% Liquidity: Average maturity 4.6 years Undrawn facil

  12. Slide 12: Financials cont.

    Financials cont. ROU liabilities movement Consolidated equity (parent) YTD YTD 1 January 2023 424.3 1 January 2023 472.4 Acquisitions 0.3 Profit for Period 1.5 Payments -15.2 OCI 2.9 New leases / extensions / 24.8 Changes in put option and -1.7 indexation liquidity obligation NCI Terminations -2.9 S

  13. Slide 13: New financial targets 2023-2025

    New financial targets 2023-2025 Revenue, €m Adjusted EBITDA (organic), €m Leverage 2 200 350 1 510 234 ≤3.5x Can exceed over shorter periods Dividend policy, 2022 2025 target 2022 2025 target share of net profit Organic revenue exceeding An adjusted organic EBITDA <50% in excess of €2.2bn €350m A 13

  14. Slide 14: Thank you!

    =~ MEDICOVER Thank you! CARING FOR YOUR HEALTH IS ALL WE DO

Medicover — Q1 2023 Earnings Presentation on 6ix