Pure Health Holding Pjsc · ADX:PUREHEALTH
Pure Health Holding Pjsc — PureHealth — H1 2024 Earnings Presentation
30 slides from Pure Health Holding Pjsc's earnings presentation, August 2024
Slide 1: Earnings Presentation 1H 2024
Earnings Presentation 1H 2024 August 2024
Slide 2: 1H 2024 CEO Review
1H 2024 CEO Review Shaista Asif, CEO
Slide 3: Strong 1H 2024 performance driven by organic growth and strategic acquisitions
Click to edit Master title style Strong 1H 2024 performance driven by organic growth and strategic acquisitions Financial highlights Total Revenue 1H 2024 EBITDA 1H 2024 Net Profit 1H 2024 • 53% year-on-year increase in revenue to AED 12.5 billion, driven 12,504 2,156 1,004 by solid performance acro
Slide 4: In 1Q 2024, PureHealth used IPO proceeds to expand its global footprint
In 1Q 2024, PureHealth used IPO proceeds to expand its global footprint Cash paid for acquisition 50+ Hospitals 3.5 AED Billion 2,000+ Beds 8,500 Employees #1 Private provider in the UK, 47% of Circle Health Group Significant scope for value provides access to attractive acquisition was paid using c
Slide 5: In 1Q 2024 PureHealth completed the 100% acquisition of Sheikh Shakhbout Medical City (SSMC)
In 1Q 2024 PureHealth completed the 100% acquisition of Sheikh Shakhbout Medical City (SSMC) x The largest tertiary care Comprehensive and 700+ Beds hospital in UAE interdisciplinary care including obstetrics and SSMC was established as part gynaecology, paediatrics, 230 K+ Patient of Abu Dhabi’s Ec
Slide 6: Sheikh Tahnoon Bin Mohammed Medical City (STMC) started operation in 2H2023
Sheikh Tahnoon Bin Mohammed Medical City (STMC) started operation in 2H2023 Incremental Outpatient Volume s in Al Ain region in 1H 2024 27 Thousand outpatients A brand-new, state-of-the- The facility is expected to art, multi-specialty tertiary begin offering inpatient and care facility in the Al Ai
Slide 7: The offload of ADSCC and Yas Clinic Group in 2Q 2024 streamlined resources
The offload of ADSCC and Yas Clinic Group in 2Q 2024 streamlined resources to focus on specialized health services z e Total amount The transaction has been 40.2 AED Million undertaken with related parties in accordance with applicable regulations and within the limits of permissible percentages Pur
Slide 8: PureHealth is the UAE's largest healthcare provider
PureHealth is the UAE’s largest healthcare provider PureHealth Portfolio 100+ Hospitals c.300 Clinics c.4,800+ Beds Hospitals 143 Laboratories 4.5 Mn 56,000+ Total patient Employees Interactions in 1H24 Health Insurance 25 Mn+ 3 Mn+ Claims processed Members insured in 1H24 Procurement Diagnostics 12
Slide 9: PureHealth operates a uniquely integrated payor-provider healthcare platform
PureHealth operates a uniquely integrated payor-provider healthcare platform UAE healthcare platform Illustrative Payor (Insurance) Patient Journey Patient Patient Awareness Scheduling Relationship Authorisation Patient Billing Retention Management Digital Provider (Healthcare) Diagnostic Medical Ho
Slide 10: Patient-centric integrated ecosystem enabled by digital innovation at every step of the value chain
Patient-centric integrated ecosystem enabled by digital innovation at every step of the value chain …enabled by digital solutions at every step… Developing dynamics …through an integrated B2B ecosystem… – New medicine & technology – Life-long health & medical record …addressing all patient needs… –
Slide 11: PureHealth's aim is to become a global healthcare leader with assets across multiple jurisdictions
PureHealth’s aim is to become a global healthcare leader with assets across multiple jurisdictions through a number of already implemented initiatives... Strategic Priorities Realized initiatives Circle Acquisition SSMC Integration STMC Services Activation • Position for both domestic and internatio
Slide 12: ...as well as through initiatives awaiting implementation in the near future
...as well as through initiatives awaiting implementation in the near future Strategic Priorities Forward Looking Initiatives First Longevity Clinic Central Reference Laboratory • Position for both domestic and international expansion. • Capitalize on the growing demand for high-quality integrated h
Slide 13: Medium-term financial outlook and operational objectives
Medium-term financial outlook and operational objectives FY 2023 1H 2024 Achievement Medium-Term Target* Revenue growth +31% +53% Mid- to High-teens International business as % of Revenue 0% 18.3% c.50% EBITDA margin 14.9% 17.2% Low 20s Financial metrics <5% in 2024E CAPEX as % of Revenue <2% 4.2% <
Slide 14: 1H 2024 Financial Review
+ PURZHYALTH 1H 2024 Financial Review
Slide 15: Financial performance was positively impacted by expansion of all business lines
Financial performance was positively impacted by expansion of all business lines AED Mn 1H 2024 1H 2023 Δ% 2Q 2024 2Q 2023 Δ% Revenue 12,504 8,150 +53% 6,388 4,130 +55% Net Profit Movement YoY (AED Mn) 1H 2024 Cost of sales (9,674) (6,837) +42% (5,008) (3,530) +42% General & administrative -26% expe
Slide 16: Revenue growth of 53% driven by solid performance across business segments
Revenue growth of 53% driven by solid performance across business segments Total Revenue Movement YoY (AED Mn) 1H 2024 Revenue (AED Mn) 2Q 2024 +53% +55% 438 721 (50) 136 (1,256) 6,115 6,388 4,365 12,504 8,150 4,130 3,967 4,282 +83% +15% +36% -9% NA +50% -4% +8% +43% +4% 1H 23 Hospitals Health Procu
Slide 17: OPEX rose 51% due to recent acquisitions and organic growth
OPEX rose 51% due to recent acquisitions and organic growth Total OPEX Movement YoY (AED Mn) 1H 2024 Total OPEX Movement by segments YoY (AED Mn) 1H 2024 +51% +51% 1,380 12,564 293 15 682 116 (1,276) 2,838 4,388 12,564 8,346 8,346 +42% +91% +77% +11% +4% +36% NA +54% 1H 23 Cost of Sales Genetal admi
Slide 18: EBITDA increased 15% YoY to AED 2.2 bn with EBITDA margin at 17%
EBITDA increased 15% YoY to AED 2.2 bn with EBITDA margin at 17% EBITDA Movement by segments (AED Mn) 1H 2024 EBITDA Margin (%) 1H 2024 +15% 22.9% 128 146 (62) 44 25 8 2,156 20.5% 1,867 17.7% 17.2% 14.9% +9% +79% -27% +42% NA +50% 1H 23 Hospitals Health Diagnostic Procu- Technology Eliminations 1H 2
Slide 19: Strong balance sheet driven by active growth of assets
Strong balance sheet driven by active growth of assets Cash & Bank Balance (AED Bn) Total Assets (AED Bn) Total Assets Movement (AED Bn) 1H 2024 7.4 +69% 47.6 -30% year-to-date 10.8 5.2 5.0 (1.6) 47.6 28.2 Non-Current Assets Current Assets Right of Use Assets (AED Bn) +69% year-to-date 12.2 FY 2
Slide 20: Increase in leverage position mainly driven by increased bank debt
Increase in leverage position mainly driven by increased bank debt… Total Bank Debt (AED Bn) 1H 2024 The amount drawn during 1H 2024 Total Bank Debt to Equity and utilized for the acquisition of Circle Health +539% 2.1 1.9 1,845 AED Million 0.1x 1H 2024 0.3 0.3 0.3 -0% -0% +639% -13% Maturity: Annua
Slide 21: ...as well as a rise in lease liabilities due to Circle Health Group acquisition
…as well as a rise in lease liabilities due to Circle Health Group acquisition Lease Liabilities Movement (AED Mn) 1H 2024 +663% 12,722 309 (363) 236 10,873 Increase in leverage position mainly driven by Circle Health lease liabilities. Net Debt, incl. Lease Liabilities (AED Bn) 1,666 7.3 AED Billio
Slide 22: Investments and financing activities drive cash movements in 1H 2024
Investments and financing activities drive cash movements in 1H 2024 AED Mn 1H 2024 1H 2023 Δ% Net Profit for the period before tax 1,056 1,352 -22% Cash & Cash Equivalents Movement (AED Mn) 1H 2024 Non-cash Adjustments 1,119 518 +117% Working Capital Changes (2,763)* (2,263)* +4% -36% Employees’ en
Slide 23: Significant increase in net cash used in investing activities due to acquisitions
Significant increase in net cash used in investing activities due to acquisitions AED Mn 1H 2024 1H 2023 Trade and Other Receivables Movement (AED Mn) 1H 2024 EBITDA 2,156 1,867 Change in Net Working Capital* (2,763) (2,263) +106% Other operating activities 196 (120) 1,504 444 106 9,635 Maintenance
Slide 24: Hospitals segment: a diverse portfolio of healthcare providers with a global expansion strategy
Hospitals segment: a diverse portfolio of healthcare providers with a global expansion strategy SEHA Hospitals: 55K+ Inpatients* 2,500+ Revenue (AED Mn) OPEX (AED Mn)** 2.7 Mn+ +43% YoY Beds Outpatients* As of 1H 24 72% 9,612 8,748 +17% YoY 346K+ ED patient* +43% YoY Bed Occupancy +83% year-on-yea
Slide 25: Health Insurance segment: Daman is the largest health insurance provider in the UAE
Health Insurance segment: Daman is the largest health insurance provider in the UAE • Revenue (AED Mn) OPEX (AED Mn) AED 3.8 Bn for Enhanced Portfolio 3,305 3,063 +20% YoY +15% year-on-year +11% year-on-year % EBITDA (AED Mn) Net Profit (AED Mn) 3.1 Mn 94% active members Combined Ratio +4% YoY 3
Slide 26: Procurement segment: supporting the Group's core business operations
Procurement segment: supporting the Group's core business operations • Revenue (AED Mn) OPEX (AED Mn) 800+ 2,727 2,592 Delivery points AED Total Procurement Rafed: 940 AED Mn (+6% YoY) 2,254Mn Spend One Health: 125 AED Mn (-9% YoY) +40% YoY +36% year-on-year +36% year-on-year Business Partnershi
Slide 27: Diagnostic segment: building a hub-and-spoke network with a reference lab
Diagnostic segment: building a hub-and-spoke network with a reference lab • Revenue (AED Mn) OPEX (AED Mn) 143 ISO-accredited 50 pathologists and 1,200 skilled 488 351 laboratories technologists -9% year-on-year +4% year-on-year EBITDA (AED Mn) Net Profit (AED Mn) 12.7 Mn Lab Tests* in 1H 24 100
Slide 28: Technology and other services: enhances the Group's digital transformation
Technology and other services: enhances the Group’s digital transformation by integrating services across its ecosystem • Laboratory Revenue (AED Mn) OPEX (AED Mn) Diabetes Information Management System (LIS) as Module a Service 136 116 Centralized EduCare ERP system g EBITDA (AED Mn) Net Profit (AE
Slide 29: Thank you for attending, should you have any questions or queries, please reach us
Pure Health Holding PJSC Thank you for attending, should you have any questions or queries, please reach us on ir@purehealth.ae PureHealth Earnings Presentation - 1H 2024 DRAFT 1.0 P. 29
Slide 30: PureHealth Investor Relations
PureHealth Investor Relations ir@purehealth.ae