Fortis Healthcare Ltd. · NSE:FORTIS
Fortis Healthcare — Q2 FY25 Earnings Presentation
39 slides from Fortis Healthcare's earnings presentation, Nov 8, 2024
Slide 1: Exchange filing cover letter
L Fortis Healthcare Limited ‘t b“-is Tower-A, Unitech Business Park, Block-F, South City 1, Sector — 41, Gurgaon, Haryana — 122 001 (India) Tel 10124 492 1033 Fax 10124 492 1041 Emergency : 105010 Email : secretarial@fortishealthcare.com Website : www.fortishealthcare.com FHL/SEC/2024-25 November 08
Slide 2: Press Release: Q2 FY25 Financial Results
Press Release {2 Fortis Fortis Healthcare announces Q2 FY25 Financial Results Hospital Business Revenues increase 13.9% to INR 1,655 Cr; Operating EBITDAuj 32.5% to INR 355 Cr, 21.4% Margin Diagnostic Business Revenues at INR 334 Cr versus INR 317 Cr; Operating EBITDA up 28.8%to INR 80 Cr; 24% Margi
Slide 3: Press Release: Q2 FY25 Financial Highlights
Press Release {2 Fortis Q2 FY25 Financial Highlights e Q2FY25 consolidated revenues were at INR 1,988.4 Cr, up 12.3% versus Q2FY24. The operating margins for the quarter were 21.9%, versus 18.6% in the corresponding previous period. e Q2FY25 hospital business revenues grew 13.9% to INR 1,654.7 Cr as
Slide 4: Press Release: Diagnostics Business Highlights
Press Release DIAGNOSTICS BUSINESS HIGHLIGHTS {2 Fortis e Operating EBITDA margins (basis gross revenues) stood at 21.5% versus 17.2% in Q2FY24. Excluding one offs the operating EBITDA margins stood at 24.0% versus 22.7% in Q2 FY24. e Operating EBITDA margins (basis gross revenues) for H1 FY25 were
Slide 5: Fortis Healthcare Limited - Q2 FY25 and H1 FY25
$2 Fortis FORTIS HEALTHCARE LIMITED EARNINGS PRESENTATION - Q2 FY25 and H1 FY25 November 08, 2024
Slide 6: Disclaimer
DISCLAIMER This presentation may not be copied, published, distributed or transmitted. The presentation has been prepared solely by the company. Any reference in this presentation to “Fortis Healthcare Limited” shall mean, collectively, the Company and its subsidiaries. This presentation has been pr
Slide 7: Fortis Healthcare network
&)ut Fortis Healthcare National Capital Region FMRI, FEH ow Gurugram Delnt 28 Healthcare Faci es* YYYYYYVYVYY Shalimar Bagh Noida . Vasant Kunj (O&M) Fandabad |e—— 4,650 + Operational Bed Manesar, Gurugram / La Femme GK v|o® o:. =I5 sl Def Col 6,700+ Doctors c-DoC » Ludhiana 2 Greater Noida (O&M) »
Slide 8: Agenda
AGENDA 1. Clinical Excellence at Fortis 2. Performance Highlights * Earnings and Financial Summary — Q2 FY25 and H1 FY25 3. Performance Review - Hospital Business 4. Performance Review - Diagnostics Business 5. Appendix
Slide 9: Clinical Excellence at Fortis
CLINICAL EXCELLENCE i ‘ AT FORTIS 155 KEY HIGHLIGHTS |
Slide 10: Clinical Excellence
CLINICAL EXCELLENCE Fortis Hospital, Mohali, became the first hospital in north of Delhi NCR to perform Robotic Trans-Axillary Nipple Sparing Mastectomy with Implant Reconstruction Surgery on two patients. While the first patient was suffering from multifocal mucinous breast cancer, the other had mu
Slide 11: Augmenting Medical Programs
AUGMENTING MEDICAL PROGRAMS > Fortis Hospital, Manesar, Gurugram, a 350 bedded facility, commenced its operations in September 2024. The hospital offers entire spectrum of clinical services including all key specialties and latest state-of-the art medical equipment. > Fortis Memorial, Gurugram launc
Slide 12: Q2FY25 and H1FY25 Performance Highlights
Q2FY25 and H1FY25 PERFORMANCE HIGHLIGHTS |
Slide 13: Q2FY25 Snapshot
Q2FY25 SNAPSHOT Consolidated Revenue Consolidated Op EBITDA Consolidated PBT" 1,988 Crores 435 Crores 321 Crores (21.9% Margin) () 12.3% () 31.9% () 40.1% Consolidated PAT" Net Debt / (Cash)? Net Debt to EBITDAZ3 253 Crores 281 Crores 0.16x vs 0.29x Q) 40.3% 1. Excluding exceptional items $2 Fortis
Slide 14: H1FY25 Snapshot
H1FY25 SNAPSHOT Consolidated Revenue Consolidated Op EBITDA Consolidated PBT" 3,847 Crores 777 Crores 551 Crores (20.2% Margin) () 12.3% () 29.0% () 38.2% Consolidated PAT" Net Debt / (Cash)? Net Debt to EBITDAZ3 426 Crores 281 Crores 0.16x vs 0.29x Q) 40.9% 1. Excluding exceptional items $2 Fortis
Slide 15: Q2FY25 Snapshot
Q2FY25 SNAPSHOT > Hospital business revenues grew 13.9% to INR 1,655 Cr versus INR 1,453 Cr in Q2FY24 > Hospital Business Operating EBITDA stood at INR 355 Cr, up 32.5%; while operating margin was at 21.4% versus 18.4% in Q2FY24 > Q2FY25 hospital business ARPOB was at INR 2.37 Cr per annum vs INR 2.
Slide 16: Consolidated Earnings Summary - Q2FY25
CONSOLIDATED EARNINGS SUMMARY - Q2FY25 All figures in INR Cr Revenue Op EBITDA & Margin 1,988 435 1,859 330 343 I 1,770 . Q2FY24 Q1FY25 Q2FY25 Q2FY24 Q1FY25 Q2FY25 | Up 12.3% ) | Up 31.9% 1 PBT before Exceptional ltems PAT* 321 229 230 I 253 fi - . Q2FY24 Q1FY25 Q2FY25 Q2FY24 Q1FY25 Q2FY25 | Up 40.1%
Slide 17: Consolidated Earnings Summary - H1FY25
CONSOLIDATED EARNINGS SUMMARY - H1FY25 All figures in INR Cr. Revenue Op EBITDA & Margin 3,847 77 3,427 . . H1FY24 H1FY25 H1FY24 H1FY25 \— Up 12.3% _ I— Up 29.0% _ 1 PBT before Exceptional ltems PAT* 551 426 398 . l H1FY24 H1FY25 H1FY24 H1FY25 |— Up 38.2% _ L Up 40.9% _ "H1FY24 PAT excludes exceptio
Slide 18: Consolidated Earnings Summary
CONSOLIDATED EARNINGS SUMMARY All figures in INR Cr Consolidated Revenue 1,988 1,859 1,770 1,786 1,680 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 ~——Op EBITDA ~——PBT (before Exceptional items) 229 230 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 $¥ Fortis 14
Slide 19: Q2FY25 Hospital Business Highlights
Q2FY25 HOSPITAL BUSINESS HIGHLIGHTS Key Performance Indicators Occupancy was at 72%, compared to 69% in Q2FY24. Overall Occupancy Occupied beds increased to 2,939 compared to 2,779 in Q2FY24, 72% a growth of 5.8%. Revenue from focus specialties comprising Oncology, Gastroenterology, Neurosciences, R
Slide 20: Q2FY25 Diagnostic Business Highlights
Q2FY25 DIAGNOSTIC BUSINESS HIGHLIGHTS « Agilus reported gross revenue of INR 372.5 Crin Q2 FY25 as compared to INR 360.3 Cr in Q2FY24. Revenues for Q1FY25 were at INR 343.5 Cr, resulting in QoQ growth of 8.4%. « Operating EBITDA (basis gross revenues) stood at INR 80.0 Cr versus INR 62.1 Cr in Q2FY2
Slide 21: Operating Performance: Hospital Business
OPERATING PERFORMANCE HOSPITAL BUSINESS Hospital Business Particulars (INR Cr) Q2FY24 Q1FY25 Q2FY25 ' H1FY24 H1FY25 Operating Revenue 1,453 1,549 1,655 E 2,807 3,204 Revenue Growth vs LY 12.0% 14.4% 13.9% 12.7% 14.2% Reported EBITDA 289 295 369 498 664 EBITDA growth vs LY 8.3% 41.9% 27.5% 4.8% 33.5%
Slide 22: Operating Performance: Diagnostic Business
OPERATING PERFORMANCE DIAGNOSTIC BUSINESS Diagnostic Business RIS (T Q2FY24 Q1FY25 Q2FY25 H1FY24 Operating Revenue 360 343 372 703 716 Revenue Growth vs LY 0.2% 3.4% 1.9% Reported EBITDA 68 60 87 i140 147 EBITDA growth vs LY (16.8%) 27.9% 4.8% Margin 18.8% 17.6% 23.3% 19.9% 20.5% Adj: Other Income i
Slide 23: Balance Sheet (Consolidated)
BALANCE SHEET (CONSOLIDATED) September 30, 2024 Balance Sheet (INR March 31, 2024 ne 30, 2024 Sep 30, 2024 Shareholder’s Equity 8,556 8,615 8,729 Debt 859 866 878 Lease Liabilities (Ind AS 116)* 297 298 309 Total Capital Employed 9,711 9,779 9,916 Net Fixed Assets (including intangibles & CWIP) 6,22
Slide 24: Performance Review: Hospitals Business
PERFORMANCE REVIEW HOSPITALS BUSINESS A
Slide 25: Revenue Mix
REVENUE MIX Q2FY24 ] | Q1FY25 ] Q2FY25 Gross Revenue : INR 1,532 CR Gross Revenue : INR 1,633 CR Gross Revenue : INR 1,744 CR N’ N’ e’ . Non Surgical Revenue Surgical Revenue {1 Fortis 21
Slide 26: Specialty Mix
SPECIALTY MIX Q2FY24 Q2FY25 Other Operating Other Operating Revenue, 1.4% Revenue, 1.8% OPD, 14.1% OPD, 13.7% ~ Cardiac, ~ Cardiac, 17.3% 16.8% Other IPD, ‘ Ortho, 8.5% Other IPD, Ortho, 8.6% 17.2% 17.4% 'Renal, 7.3% Renal, 6.9% Gynae, 3.6% " Gynae, 3.4% " "Neuro, 8.3% Neuro, 8.5% Pulmo, 2.4% Pulmo,
Slide 27: Payor Mix
PAYOR MIX ESI, 0.0% ESI, 0.0% TPAs, 35.0% TPAs, 36.1% Cash : Cash: Domestic, Domestic, 36.0% 35.0% Pvt Corps 0.9% Pvt Corps, 1.1% Govt & International , Govt & International , PSUs, 8.9% 8.3% PSUe B 4% 71% 3 ECHS 9% 6.9% 584% CGHs, 4.3% ECHS,7.3%
Slide 28: Hospital Business Performance - Q2FY25
HOSPITAL BUSINESS PERFORMANCE - Q2FY25 revenues* Revenue =Q2FY24 =Q2FY25 All figures in INR Cr. 156 131i 124 136 125I 108 120 78 90 52 59 Mohali BG Road Noida Shalimar Bagh FEHI Mulund Anandpur Faridabad Revenue =Q1FY25 =Q2FY25 198 207 All figures in INR Cr. 145148 156 134136 141 116 120 120128 82 9
Slide 29: Hospital Margin Matrix
HOSPITAL MARGIN MATRIX EBITDA No of Facilities Revenue Contribution Operational beds ARPOB (INR Cr) Occupancy 20%-25% 10 71.8% 2467 268 73% 15% -20% 3 9.0% 552 1.43 7% H1FY25 10% -15% 1 0.6% 46 1.58 58% <10% 7 17.5% 983 21 58% EBITDA No of Facilities Revenue Contribution Operational beds ARPOB (INR
Slide 30: Beds Expansion Update
BEDS EXPANSION UPDATE |
Slide 31: Key Ongoing Expansion Projects
Key Ongoing Expansion Projects Manesar Facility (~300 Beds)*— Phase 1 Operationalized (~75 Beds) . _ . . Expected Phase 2 Capacity Addition: H2FY25 Faridabad New Tower (50 Beds) — Expected operationalization H2FY25 Noida New Tower (~145 Beds) — Expected operationalization: Phase 1 H2FY25 (~50 Beds)
Slide 32: Performance Review: Diagnostics Business
PERFORMANCE REVIEW DIAGNOSTICS BUSINESS |
Slide 33: Diagnostics Business
DIAGNOSTICS BUSINESS During Q2FY25, Agilus conducted 11.11 Mn tests, versus 10.59 Mn in Q2FY24. In Q1FY25 Agilus conducted 9.92 Mn tests. Agilus added 150+ Customer touchpoints to its network in Q2FY25. Total CTPs as on 30th September 2024 stood at 4085. « Agilus’ B2C: B2B revenue mix stood at 54:46
Slide 34: Quarterly Revenue Mix
QUARTERLY REVENUE MIX Geographic mix Product Mix Segment Mix International 3% Wellness \| 12% & North B2C, > 31% 54% & South (<] 32% B2B, 46% Specialised ) 33% Routine 55% East West 13% 21% International 3% Wellness 10% W i | 3 s \| ‘ B2C, utl 53% E] o B2B, / S pasiaten - lised Ratine 53% 47% West \
Slide 35: Quarterly Key Performance Metrics
QUATERLY KEY PERFORMANCE METRICS e Test (mn) —e—Avg. Realization per test (INR) s No of Patients (mn) —e—Avg. Realization per patient (INR) 352 869 344 845 1059 l 1111 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 $ Fortis 31
Slide 36: Appendix
APPENDIX
Slide 37: Group Consolidated P&L - Q2FY25
GROUP CONSOLIDATED P&L — Q2FY25 Particulars (INR Cr) Q2FY24 Q1FY25 Q2FY25 Revenue from operations 1,769.9 1,858.9 1,988.4 Other income 13.5 13.0 13.2 Total income 1,783.5 1,871.9 2,001.6 Expenses 1,439.8 1,516.4 1,553.6 EBITDA* 343.7 3555 4481 Margin 19.4% 19.1% 22.5% Finance costs 31.8 35.3 36.4 De
Slide 38: Group Consolidated P&L - H1FY25
GROUP CONSOLIDATED P&L — H1FY25 Particulars (INR Ci H1FY24 H1FY25 Revenue from operations 3427.4 3,847.3 Other income 216 26.3 Total income 3,449.0 3,873.5 Expenses 2,824.7 3,069.9 EBITDA* 624.3 803.6 Margin 18.2% 20.9% Finance costs 63.3 7.7 Depreciation and amortisation expense 163.4 186.1 PBT 307
Slide 39: Thank You
THANK YOU /