Akdital · CSEMA:AKT
Akdital — H1 2023 Earnings Presentation
42 slides from Akdital's earnings presentation, Oct 5, 2023
Slide 1: H1 2023 Results Presentation
H1 2023 Results Presentation October 5th & 6th, 2023
Slide 2: Contents
CONTENTS 01 Introducing AKDITAL 02 Operating & financial performance 03 Outlook & strategic priorities 04 Photo library 05 Financial statements 06 Appendices H1 2023 Results Presentation - October 5th & 6th, 2023 2
Slide 3: Akdital Presentation
AKDITAL PRESENTATION H1 2023 Results Presentation - October 5th & 6th, 2023 3
Slide 4: Key Figures H1 2023
KEY FIGURES H1 2023 AKDITAL private healthcare leader in the MENA region 21 2 192 15% 4 008 Facilities Beds of Moroccan Employees, bed capacity of whom 66% paramedical staff 1 558 5 Billion MAD 828 M MAD 172 260 Doctors Stock market Revenues Number of admissions capitalization in H1 2023 in H1 2023
Slide 5: Opening of 2 new facilities with a total capacity of 220 beds
Opening of 2 new facilities with a total capacity of 220 beds Acquisition of the Vinci and Opening of 3 facilities in Atfal clinics with a total Casablanca (Centre capacity of 92 beds International d'Oncologie de Opening of 4 new sites Expansion of Casablanca, Hopital Privé de with a total capacity
Slide 6: Map of facilities by city
Tangier 8 Casablanca - 892 beds Fez Jerrada (100) Longchamps (50) Mohammédia Ain Borja (100) Da Vinci (42) Casablanca Salé CIOC (150) Sidi Maârouf (100) HPC (200) Bouskoura (100) El Jadida Atfal (50) Safi 2 El Jadida - 220 beds 2 Salé - 220 beds Oncology Center Oncology Center
Slide 7: Cities, facilities, bed capacity and revenue growth
NUMBER NUMBER OF FACILITIES BED CAPACITY REVENUE OF CITIES 8 2 192 21 2 000 1 822 CAGR 6 17 68% 1 034 9 912 768 2 600 600 5 5 507 1 1 1 325 2 200 147 2018 2019 2020 2021 2022 2023 2018 2019 2020 2021 2022 2023 2018 2019 2020 2021 2022 2023 2018 2019 2020 2021 2022 2023f H1 2023 Results Presentation
Slide 8: A robust ethics policy; people, HSE and quality
A robust ethics policy Implementing codes of ethics and professional conduct Corruption prevention procedure Women and men, the pillars of Akdital's HSE investments to enhance safety at development our facilities Substantial training budgets Implementation of safety-enhancing equipment, Ag
Slide 9: Operating Performance & Financial
OPERATING PERFORMANCE & FINANCIAL H1 2023 Results Presentation - October 5th & 6th, 2023 9
Slide 10: 172,260 admissions, 2,192 beds
Figures in M MAD Oncology Multidisciplinary Operating Rooms 29% Oncology Chemotherapy 70% 113 Operating rooms 167 Chemotherapy chairs 30% 136 Catheterization laboratory 13 Catheterization labs 245 Radiotherapy 10 Linear accelators 444 M MAD 827 M MAD H1 2022 H1 2023 -11 Intensive care -6 318 188 Int
Slide 11: Key Indicators H1 2023
KEY INDICATORS H1 2023 Figures in M MAD Revenue figures EBITDA Net income EBITDA margin Net margin 828 75 214 84% 104% 163% 450 105 28 9% 26% 6% 23% H1 2022 H1 2023 H1 2022 H1 2023 H1 2022 H1 2023 Revenue: strong growth vs. H1 2022 Net income: exceptional increase Growth of mature clinics (CIOC, C
Slide 12: Contribution of new clinics to revenue growth
CONTRIBUTION OF NEW CLINICS OPENED PER YEAR TO REVENUE GROWTH H1 2023 vs H1 2022 Figures in M MAD H1 2023 Results Presentation - October 5th & 6th, 2023 12
Slide 13: Key Indicators H1 2023
KEY INDICATORS H1 2023 Figures in M MAD Fixed Assets * Net debt Shareholders' equity WCR Gearing Number of days of sales 1.278 2% 1.301 2.172 891 31% 168% -81 1.654 -121 332 40,6% 20,6% -343 -371 2022 H1 2023 2022 H1 2023 2022 H1 2023 2022 H1 2023 * Includes property, plant and equipment and intangi
Slide 14: Outlook & Strategic Priorities
OUTLOOK & STRATEGIC PRIORITIES H1 2023 Results Presentation - October 5th & 6th, 2023 14
Slide 15: Nationwide expansion, internationalization, diversification
Nationwide expansion Growth of Moroccan footprint, with the opening of new sites in medium-sized cities Internationalization Diversification of the specialties portfolio Developing strategic partnerships for the Particularly in oncology, geriatrics, functional care of Sub-Saharan Africa patients reh
Slide 16: Universal health coverage rollout
2021 2022 2023 CNSS CNOPS, 100% 100% 100% mutual 14 14 14 and private million million million insurance 0% 100% 100% Universal health 11* 11 care millions million 0% 32% 100% Self-employed 3,6 11 workers millions million * December 2022 H1 2023 Results Presentation - October 5th & 6th, 2023 16
Slide 17: Nationwide expansion: development program to 2025
NATIONWIDE EXPANSION AKDITAL'S DEVELOPMENT PROGRAM TO 2025 Beni Mellal, 150 Beds Khouribga, 100 Beds Marrakech, 70 Beds Tétouan (2), 100 Beds Acquisition in Construction in Construction in Construction in progress progress progress progress Nov Feb May July 23 24 24 24 Kénitra (2), 180 Beds Essaouir
Slide 18: Program 2024-2025
PROGRAM 2024-2025 Facilities Beds Cities Employees 36 3.622 6.900 + 15 + 1 430 20 + 2 900 + 12 21 2.192 4.008 8 Current State Future State Current State Future State Current State Future State Current State Future State H1 2023 Results Presentation - October 5th & 6th, 2023 18
Slide 19: Capex evolution
CAPEX EVOLUTION Figures in M MAD Shareholders' equity 35% 1 072 862 516 765 1,470 M MAD 568 Investments 2024-2025 959 External financing 65% 2022 2023 est 2024 est 2025 est H1 2023 Results Presentation - October 5th & 6th, 2023 19
Slide 20: Photo Library
PHOTO LIBRARY H1 2023 Results Presentation - October 5th & 6th, 2023 20
Slide 21: H1 2023 Results Presentation - October 5th & 6th, 2023
H1 2023 Results Presentation - October 5th & 6th, 2023 21
Slide 22: H1 2023 Results Presentation - October 5th & 6th, 2023
H1 2023 Results Presentation - October 5th & 6th, 2023 22
Slide 23: H1 2023 Results Presentation - October 5th & 6th, 2023
H1 2023 Results Presentation - October 5th & 6th, 2023 23
Slide 24: H1 2023 Results Presentation - October 5th & 6th, 2023
H1 2023 Results Presentation - October 5th & 6th, 2023 24
Slide 25: H1 2023 Results Presentation - October 5th & 6th, 2023
H1 2023 Results Presentation - October 5th & 6th, 2023 25
Slide 26: H1 2023 Results Presentation - October 5th & 6th, 2023
H1 2023 Results Presentation - October 5th & 6th, 2023 26
Slide 27: H1 2023 Results Presentation - October 5th & 6th, 2023
H1 2023 Results Presentation - October 5th & 6th, 2023 27
Slide 28: Financial Statements
FINANCIAL STATEMENTS H1 2023 Results Presentation - October 5th & 6th, 2023 28
Slide 29: Balance Sheet
BALANCE SHEET Figures in MAD ASSETS June 30-23 31-Dec-22 LIABILITIES June 30-23 31-Dec-22 Capital 126 666 700 126 666 700 Fixed assets Goodwill 21 837 736 22 473 241 Additional paid-in capital 984 376 165 984 825 770 Non-valuable assets 36 591 030 31 451 885 Consolidated reserves 114 924 629 67 902
Slide 30: Income Statement
INCOME STATEMENT Figures in MAD June 30-23 June 30-22 Operating income 827 692 434 450 450 009 Revenue 827 692 434 450 450 009 Other revenue 0 0 Operating expenses (701 210 674) (397 956 566) Purchases and other external charges (406 796 247) (224 593 730) Taxes (10 440 306) (8 643 386) Labor costs
Slide 31: Cash Flow Statement
CASH FLOW STATEMENT Figures in MAD June 30-23 31-Dec-22 Consolidated net income 74 821 146 98 569 695 Adjustments : - Amortization of intangible assets 8 444 332 13 544 471 - Depreciation of property, plant and equipment 81 323 040 85 813 682 - Goodwill amortization 635 506 1 271 012 - Change in def
Slide 32: Balance Sheet
Figures in MAD BALANCE SHEET CURRENT YEAR 31/12/2022 Depreciation, amortization LIABILITIES CURRENT YEAR 31/12/2022 ASSETS Gross Net Net and provisions Non-valuable assets 11 745 467,99 8 451 524,59 3 293 943,40 4 586 711,39 SHAREHOLDERS' EQUITY 1 211 723 905,56 1 156 667 008,66 Preliminary costs 50
Slide 33: Income Statement
INCOME STATEMENT Figures in MAD OPERATIONS TOTALS TOTALS FOR DESIGNATION Specific to current year Concerning previous years FOR CURRENT YEAR PREVIOUS YEAR OPERATING REVENUE 29 197 472,89 29 197 472,89 22 902 941,57 Sales of goods (as is) Sales of goods and services produced 26 900 107,14 26 900 107,
Slide 34: Income Statement Continued
INCOME STATEMENT CONTINUED Figures in MAD OPERATIONS TOTALS TOTALS FOR DESIGNATION Specific to current year Concerning previous years FOR CURRENT YEAR PREVIOUS YEAR Interest costs 1 927 121,58 1 927 121,58 3 214 412,77 Exchange losses 1 345,99 1 345,99 722,30 Other financial costs Current year finan
Slide 35: Appendices
APPENDICES H1 2023 Results Presentation - October 5th & 6th, 2023 35
Slide 36: Shareholder structure
10,5% MCIII Al Razi 31,6% Free Float 57,9% Stable shareholders* group * Stable shareholder grouping: historical shareholder grouping H1 2023 Results Presentation - October 5th & 6th, 2023 36
Slide 37: Basic medical coverage: AMO and RAMED
Basic medical coverage Plans AMO RAMED Working people, retirees from the public and Poor people not covered by a health insurance private sectors and their dependants scheme Self-employed and liberal professions Beneficiaries Former members of the Resistance Students State and local auth
Slide 38: Patient with private insurance and third-party pay
Supplementary Insurance Patient with private The patient pays the clinic directly and is reimbursed by insurance his or her supplementary insurance. Co-payment The patient has a pre-authorization* before Taken at Third-party pay hospitalization or during his stay 100%. to be paid by the patient The
Slide 39: Clinic facilities and opening years
Clinic Casablanca Clinic Casablanca International Clinic Jerrada Oasis Ain Borja Oncology Center Longchamps Opening year: 2011 Opening year: 2018 Opening year: 2019 Opening year: 2019 Bed capacity: 100 beds Bed capacity: 100 beds Bed capacity: 150 beds Bed capacity: 50 beds Private Hospital El Jadid
Slide 40: Facilities opened 2022-2023
Agadir Private Hospital and Private Hospital and Private Hospital and Panorama Clinic International Oncology International Oncology International Oncology Sidi Maarouf Center Center Center of Tangier of Salé Opening year: 2022 Opening year: 2022 Opening year: 2022 Opening year: 2022 Bed capacity: 22
Slide 41: Public and private healthcare in Morocco
Public and private healthcare in Morocco end 2020 Number of beds per 1,000 inhabitants 1 4.4 Casablanca - Settat Private 18% Rabat-Salé-Kénitra 28% 25% 2.8 Marrakech-Safi 2.2 37 388 8% 37 388 Fès-Meknès 1.5 1.4 beds 8% beds Oriental 1 16% Tanger-Tétouan- Public 11% AlHoceima 72% 14% Autres* MENA** O
Slide 42: Akdital
(%) AKDITAL