Medicover Ab Class B · OMXSTO:MCOV_B
Medicover Ab Class B — Q3 2021 Earnings Presentation
19 slides from Medicover Ab Class B's earnings presentation, Nov 3, 2021
Slide 1: Web Cast Presentation Q3 2021
WEB CAST PRESENTATION Q3 2021 Fredrik Rågmark CEO & Joe Ryan CFO Stockholm, 3 November 2021
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
Slide 3: Highlights Q3
Highlights Q3 400 Continued strong revenue growth both total 350 Revenue development and underlying business. Organic growth 300 evidencing strength in our business model. 250 +40% Invested € 56.9m for future growth in a 200 number of smaller businesses within 150 Healthcare Services. 100 50 R
Slide 4: Q3 cont.
Q3 cont. EBITDA increased by 15.7% and amounted to EBITDA and EBITDA margin development €58.0m (€50.1m), a margin of 17.3% (19.1%). 80 25% +40% EBITDA margin in comparative quarter was 70 strongly driven by Covid-19 care in Medicover 60 20% Hospitals India (MHI). 50 15% 40 EBITDA for the under
Slide 5: Healthcare Services
Healthcare Services Revenue was €176.7m (€146.4m), up 20.7% with Revenue development an organic growth of 15.2%. 200 180 Revenue from underlying business was €165.8m 160 (€130.4m), grew by 27.2%. 140 120 Revenue from Covid-19 was €10.9m (€16.0m). 100 80 FFS* represented 52% of divisional rev
Slide 6: Healthcare Services
Healthcare Services EBITDA amounted to €26.4m (€29.7m), a margin of 15.0% (20.2%). EBITDA and EBITDA margin development 40 25% EBITDA for the underlying business was €24.8m 35 (€23.3m), margin of 15.0% (17.8%). 30 20% 25 15% Underlying EBITDA margin is lower due to: 20 15 10% − Transitioning f
Slide 7: Diagnostic Services
Diagnostic Services Revenue grew a strong 35.6% to 180 Revenue development €162.9m (€120.1m) with an organic 160 growth of 34.2%. 140 120 Revenue from underlying business 100 was €124.0m (€104.1m), grew by 80 19.1%. 60 40 Revenue from Covid-19 was €38.9m 20 (€16.0m). 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 8: Diagnostic Services
Diagnostic Services EBITDA was €35.7m (€23.5m), a EBITDA and EBITDA margin development margin of 21.9% (19.6%). 50 45 35% 30% 40 EBITDA for the underlying business 35 25% grew by 20.9% to €21.0m (€17.4m), a 30 20% 25 15% margin of 17.0% (16.7%). 20 15 10% 10 Covid-19 related EBITDA contributio
Slide 9: Continued hospital expansion in India
Continued hospital expansion in India Continue to expand footprint in India, two new hospital projects approved in Q4, will be operational with first Mumbai unit by year-end. First entry in to the Mumbai area as part of Maharastra strategy. 9
Slide 10: Medicover Sports strategy
Medicover Sports strategy Very attractive Polish Sport employee benefit market. After private healthcare benefits, sports benefits second most sought after employee benefit. Highly synergistic with corporate healthcare market. Employer social fund attractive funding of benefits. Blurring b
Slide 11: Medicover Sports strategy cont.
Medicover Sports strategy cont. Pandemic significantly negatively impacted Sport employee benefit market and gym market. We expect a strong recovery since re-opened late May-21, Sports card market recovery currently 2/3’s of pre-pandemic level. Medicover Sports currently around 10% market shar
Slide 12: Medicover Sports strategy cont.
Medicover Sports strategy cont. 2020 has reshaped the Sports card market in Poland – with gyms closed many B2B clients froze or cancelled their sport card contracts as part of their crisis savings However, feedback from users remains very strong with users looking to come back to gyms as soon as
Slide 13: Financial overview
oo, wr MEDICOVER Financial overview CARING FOR YOUR HEALTH IS ALL WE DO
Slide 14: Key financial data
Key financial data Definition and reconciliation of alternative performance measures are available at medicover.com/financial-information. 14
Slide 15: Financials
Financials Net interest cost of €5.3m, interest charge for leases €3.6m, underlying debt interest of €1.7m. FX loss €1.3m: €1.8m due to Euro denominated leases in Poland, non-cash. Tax charge of €28.1m (€3.4m) for 9M. ETR 26.5% (28.5%). Tax paid €12.8m (€7.6m) for 9M. Cash flow from operatio
Slide 16: Financials contd
Financials contd Resumed €2bn SEK CP programme, €24.5m issued. Approx. €300m liquidity available to the Group, strongly placed for organic & inorganic growth. Increase in ROUL of €102.0m over 9M; 78% due to acquisitions; remainder due to underlying expansion of facilities in Poland, Romania an
Slide 17: Investing for growth
Investing for growth Q3 Medicover has invested €56.9m and since year-end € 73.0m in; − two fertility businesses (DK, NO), − four gym businesses (PL), − two medical centers (PL), − three hospitals (DE, IN, PL), − two dental businesses (PL) − and a laboratory (TR). Net loss of €2.6m related to acq
Slide 18: Financial targets – ahead of our 2022 targets
Financial targets – ahead of our 2022 targets Organic revenue growth of Q3 23.9% Growth 9–12% 9M 44.1% Adjusted EBITDA-margin Q3 18.1% Profit (year-end 2022) of 15.5-16.5% 9M 20.1% Loans payable net of cash and liquid Capital Structure short-term investments/adjusted Q3 0.6x EBITDAaL ≤3.5x Definitio
Slide 19: Q&A
oo, wr MEDICOVER Q&A CARING FOR YOUR HEALTH IS ALL WE DO