Pure Health Holding Pjsc · ADX:PUREHEALTH
Pure Health Holding Pjsc — FY2024 Earnings Presentation
44 slides from Pure Health Holding Pjsc's earnings presentation, February 2025
Slide 1: Earnings Presentation FY 2024
Earnings Presentation FY 2024 February 2025
Slide 2: PureHealth, building a holistic healthcare ecosystem
PureHealth, building a holistic healthcare ecosystem 3Ps of Healthcare Patient Provider Payor Only vertically integrated payor-provider platform in the MENA region Robust Platform From Primary to Tertiary Care Growth in Specialty Services Every Healthcare Need Under One Platform Diversified Portfoli
Slide 3: Country-wise Footprint
Country-wise Footprint Middle East’s Largest Healthcare Group 24,000+ 24 65+ Hospitals Pharmacies Employees UAE 143+ 52 M+ 3 Mn+ Laboratories Claims Members insured USA’s 4th Largest Private Group 24,000+ 30+ 06 Employees Hospitals States USA 200+ 1,700+ Sites of Care Providers UK’s Largest Private
Slide 4: We continue to grow by leveraging our transformation strategies
We continue to grow by leveraging our transformation strategies Integration • Best in class SOPs and high A lot more value Scale level of efficiency still to come… • Transformation initiatives • Asset scale and replicability implemented across the Group • Geographical expansion • Leading to optimal
Slide 5: Assets Under Management: Transformation, organic and acquisitions
Assets Under Management: Transformation, organic and acquisitions (Values in AED Mn) Revenue: 25,848 PureHealth is EBITDA: 4,119 Now the Revenue: 16,399 Top 5 Largest Net Profit: 1,716 Hospital Group Revenue: 4,394* EBITDA: 2,434 Globally Assets: 48,575 Outside the EBITDA: 243* USA Net Profit: 965 N
Slide 6: Key Performance Highlights
+ PURYHYALTH Key Performance Highlights
Slide 7: A Landmark Year: Transformation, organic growth and strategic acquisitions
A Landmark Year: Transformation, organic growth and strategic acquisitions drove strong financial results Revenue EBITDA Net Profit +69% +78% +58% AED 4.1 bn AED 1.7 bn AED 25.8 bn EBITDA Margin Net Profit Margin 15.9% 6.6% + 1.1 ppts YoY + 0.8 ppts YoY PureHealth Earnings Presentation - FY 2024 P.
Slide 8: Robust balance sheet powered by an asset light model
Robust balance sheet powered by an asset light model and strategic acquisitions Total Assets Equity Invested Capital +153% +72% +23% AED 25.3 bn Return on Invested Capital (RoIC) AED 48.6 bn AED 19.7 bn AED 25.3 bn 14.5% ▲ + 2.8 ppts YoY PureHealth Earnings Presentation - FY 2024 Figures and percent
Slide 9: Our core segments have delivered a solid sets of results
Our core segments have delivered a solid sets of results All Amounts in AED Mn Particulars Non-Insurance Insurance Group Revenue 19,011 6,838 25,848 EBITDA 3,474 645 4,119 EBITDA Margin 18.3% 9.4% 15.9% Net Profit 1,190 526 1,716 Net Profit Margin 6.3% 7.7% 6.6% PureHealth Earnings Presentation - FY
Slide 10: Highlights of our performance across key segments on YoY basis
Highlights of our performance across key segments on YoY basis Growth % are for FY’24 vs FY’23 z z z z z Hospital and other related Diagnostic Procurement and supply of Technology Health insurance services services* services medical related products and others Total Patient Members +6% (3mn+) Test V
Slide 11: Transformation & Turnaround
Transformation & Turnaround
Slide 12: SEHA turnaround efforts resulted in increased patient footfall & occupancy
SEHA turnaround efforts resulted in increased patient footfall & occupancy Outpatient Volumes Inpatient Volumes Emergency Department Volumes (in K) (in K) (in K) 5,625 +14% +15% +10% 100.00 600.00 CAGR 90.00 89 CAGR 550 CAGR (2022-24) 550.00 (2022-24) (2022-24) 4,831 80 80.00 501 4,311 500.00 70.00
Slide 13: SSMC turnaround: from loss to profit making within the first year
SSMC turnaround: from loss to profit making within the first year of acquisition SSMC Profitability (in AED M) Outpatient Inpatient +16% Volumes +8% Volumes (in K) (in K) Annualized Profit of AED 149m* 2024 424 2024 29 137 2023 366 2023 27 Emergency Increase in +20% Volumes +24% Operational (in K) B
Slide 14: Significant growth in Daman's profitability from transformation initiatives
Significant growth in Daman’s profitability from transformation initiatives +38% Daman Profitability Trend (in AED M) 2yr CAGR Post-Acquisition 579 +9% 2yr CAGR Pre-Acquisition 303 319 253 PureHealth Acquired Daman Jan 2022* 2020 2022 2023 2024 Gross Written Claims +24% Premium +6% Members +5% Proce
Slide 15: Strategic partnerships and achievements
Strategic partnerships and achievements Achievements Group Brands valued at $ 2bn OneHealth - Strategic Partnerships Most valuable • Enhanced product portfolio through business • PureLab established its Genetic Centre of UAE healthcare brand in 2024 partnerships with key solution providers Excellenc
Slide 16: Specialties, Procedures & Research
Specialties, Procedures & Research
Slide 17: Our UAE network caters for primary to complex tertiary care
Our UAE network, caters for primary to complex tertiary care, with 120+ specialties, being the largest range within any network including most complex cases conducted within country SKMC and SKC successfully SKMC Surgical Team performed a administered radioactive iodine SKMC conducted a complex hear
Slide 18: Our Healthcare Segment is at the forefront of clinical research in the UAE
Our Healthcare Segment is at the forefront of clinical research in the UAE Building a thriving life-sciences research hub in the UAE Research Highlights Innovative Projects Recognition in 2024 MOHAP Research Awards DoH Awards 130+ Sponsored Projects • Allogenic Stem Cell Transplant for Aging Frailty
Slide 19: Operational & Service Expansion
Operational & Service Expansion
Slide 20: PureHealth continues to expand its footprint internationally and locally
PureHealth continues to expand its footprint internationally and locally International Acquisition UAE Acquisition Fujairah Commissioning 100% Strategic Acquisition of UK’s Acquired 100% of Sheikh Shakhbout Sheikh Khalifa Hospital Fujairah, started largest private hospital network Medical City, UAE’
Slide 21: PureHealth continues to expand its footprint internationally and locally
PureHealth continues to expand its footprint internationally and locally Mental Health Platform Tertiary Care Hospital Al Ain Addiction and Rehab Took over the National Rehabilitation Launched Sakina, Largest Mental Health Largest tertiary care hospital, Sheikh Centre (NRC), the only and the largest
Slide 22: Service & Business expansion across PureHealth
Service & Business expansion across PureHealth SEHA – Service Expansion SSMC - New Business Initiatives Circle Capacity Expansion • Expansion of Primary Healthcare clinics • Establishment of Epilepsy Monitoring Unit • Enhanced MRI Capability and expanded Capacity at key facilities • Extended working
Slide 23: Recognition of Complex Care: New Centres of Excellence by Regulator
Recognition of Complex Care: Designation of new Centres of Excellence by Regulator Centre of Excellence – Paediatric Cardiac Surgery Centre of Excellence - Burns Sheikh Khalifa Medical City was designated as Sheikh Shakhbout Medical City was Centre of Excellence for Paediatric Cardiac designated as
Slide 24: Social Impact & Sustainability
Social Impact & Sustainability
Slide 25: Creating an inclusive and empowering environment
Creating an environment which is inclusive, empowering and embracing the diverse abilities of all individuals to drive Innovation and Growth 56,000+ 62% 76% % of Female Engagement Employees Employees Score +11ppts higher than global (Represents UAE Only) benchmark* PUREHEALTH CERTIFIED AS PUREHEALTH
Slide 26: We create value through Sustainability and Social Impact
We create value through Sustainability and Social Impact SUSTAINABILITY PERFORMANCE SNAPSHOT | 2024 Rank: Low 47/225 Risk 200+ LSEG/ REFINITIV MORNINGSTAR/ CDP CLIMATE COMMUNITY CERTIFIED WORKPLACE ESG RANKING SUSTAINALYTICS ESG CHANGE DISCLOSURE INITIATIVES RISK RATING First and only Healthcare ent
Slide 27: Financial Review
+ PURYHYALTH FY 2024 Financial Review
Slide 28: Group Revenue grew by 58% YoY, driven by all business segments
Group Revenue grew by 58% YoY, driven by solid performance across all business segments Total Revenue Movement YoY (AED mn) +58% 9,125 985 1,105 13 392 (2,172) 25,848 25,848 Technology Services and Others 16,399 +87% +17% +27% +1% +514% -42% FY 23 Hospital and Health Procurement Diagnostic Technolog
Slide 29: EBITDA for the Group rose by 69% YoY to AED 4.1 bn
EBITDA for the Group rose by 69% YoY to AED 4.1 bn, achieving a 15.9% margin in FY 2024 EBITDA Movement by segments (AED mn) EBITDA Margin - Group EBITDA Margin – FY 2024 +69% Non-Insurance Operations 15.9% 18.3% 14.8% 1,265 246 162 (72) 46 38 4,119 2,434 +75% +75% +62% +74% -18% +584% +14% Insuranc
Slide 30: Net Profit rose 78% YoY to AED 1.7 bn
Net Profit rose 78% YoY to AED 1.7 bn, achieving a 6.6% margin in FY 2024 Net Profit Movement YoY (AED mn) Net Profit Margin – Group Net Profit Margin - 2024 +78% Non-Insurance Operations 6.6% 9,449 (8,199) 5.9% 6.3% (730) 231 1,716 965 Insurance 7.7% +58% +52% +622% 55% FY 23 Revenue Total OPEX Fin
Slide 31: Robust balance sheet powered by an asset light model
Robust balance sheet powered by an asset light model and strategic acquisitions Total Assets Movement (AED bn) Cash & Bank Balance (AED bn) Total Assets (AED bn) 11.9 48.6 +72% 6.7 0.2 4.0 48.6 +13% year-on-year 28.2 9.6 Right of use assets (AED bn) +683% +81% +4% +28% +72% year-on-year 11.0 +
Slide 32: Increase in leverage position driven by acquisitions
Increase in leverage position driven by acquisitions Cash & Cash Equivalents Movement (AED mn) Total Bank Debt (AED bn) +542% +10% 2.1 4,163 (3,653) 1.9 1.9 1.9 300 (8) 7,987 8,789 0.3 +639% -13% +1% -1% FY 23 Operating Investing Financing FX rate FY 24 activities activities activities changes FY 23
Slide 33: Free cash flow conversion rate is 78% of EBITDA
Free cash flow conversion rate is 78% of EBITDA AED mn FY 2024 FY 2023 Trade and Other Receivables Movement (AED mn) EBITDA 4,119 2,434 +4% Change in Net Working Capital* 129 (57) 458 129 (224) 4,681 (174) 4,870 Other operating activities (84) 155 Maintenance CAPEX (565) (414) Growth CAPEX (386) (35
Slide 34: Guidance & Way Forward
FY 2024 Guidance & Way Forward
Slide 35: Some of our forward-looking initiatives include …
Some of our forward-looking initiatives include … Binding offer acquiring 60% stake in Hellenic Healthcare Group, largest private Continuous expansion through Acquisitions healthcare group in Greece & Cyprus Launching PURA Longevity Clinics, focused on disease prevention & enhancing quality of life
Slide 36: Guidance for 2025 and the Medium-Term
Guidance for 2025 and the Medium-Term Medium-Term Target FY 2023 FY 2024 (2025-2029) Revenue growth (vs prior period) +31% +58% Mid- to High-teens International business as % of Revenue* 0% 18.1% c.50% EBITDA margin 14.8% 15.9% Low 20s CAPEX as % of Revenue 2.7% 3.7% <5% Net Debt** / EBITDA (3.3)x 0
Slide 37: PureHealth Investor Relations
Thank you for attending! Should you have any questions or queries, please reach us. PureHealth Investor Relations https://purehealth.ae/investor-relations/ ir@purehealth.ae
Slide 38: Appendix - Segment Performance
FY 2024 Appendix - Segment Performance
Slide 39: Overview of our synergistic portfolio of healthcare assets
Overview of our synergistic portfolio of healthcare assets Hospitals Health Insurance Procurement Diagnostics Technology FY 2024 Segment Value & Contribution in % Revenue AED 19,653 Mn (59%) AED 6,838 Mn (21%) AED 5,204 Mn (16%) AED 1,056 Mn (3%) AED 469 Mn (1%) EBITDA AED 2,956 Mn (68%) AED 645 Mn
Slide 40: Hospital and Other Related Services
Hospital and Other Related Services Revenue (AED mn) Gross profit (AED mn) EBITDA (AED mn) Margin Net profit (AED mn) Margin 15.0% 4.9% 19,653 ▲ +87% year-on-year 5,736 ▲ +71% year-on-year 2,956 ▲ +75% year-on-year 969 -10% year-on-year (+28% normalized*) Other assets in portfolio: Outpatients 6.0
Slide 41: Health Insurance
Health Insurance Revenue (AED mn) Gross profit (AED mn) EBITDA (AED mn) Margin Net profit (AED mn) Margin 9.4% 7.7% 6,838 ▲ +17% year-on-year 743 ▲ +45% year-on-year 645 ▲ +62% year-on-year 526 ▲ +65% year-on-year 52.6 mn claims processed +5% YoY Solvency Ratio in FY 24 192% +22 ppts (YoY) 3 mn+ +6%
Slide 42: Procurement and Supply of Medical Related Products
Procurement and Supply of Medical Related Products Revenue (AED mn) Gross profit (AED mn) EBITDA (AED mn) Margin Net profit (AED mn) Margin 7.3% 6.4% 5,204 ▲ +27% year-on-year 554 ▲ +46% year-on-year 379 ▲ +74% year-on-year 332 ▲ +57% year-on-year Business Partnerships Total Procurement AED Spend 5.
Slide 43: Diagnostic Services
Diagnostic Services Revenue (AED mn) Gross profit (AED mn) EBITDA (AED mn) Margin Net profit (AED mn) Margin 31.0% 24.0% 1,056 +1% year-on-year 514 ▲ +9% year-on-year 327 -18% year-on-year 254 -32% year-on-year (+18% normalized*) (+12% normalized*) Business Expansion • PureLab expanded its rea
Slide 44: Technology Services and Others
Technology Services and Others Revenue (AED mn) Gross profit (AED mn) EBITDA (AED mn) Margin Net profit (AED mn) Margin 11.4% 8.2% 469 Consolidated in Q4 23 104 54 38 Business Achievements PureNet, a digital health-as-a-service platform • PureHub – a centralized ERP system that integrates digital he
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