Mlp Saglik Hizmetleri As Class B · BIST:MPARK
Mlp Saglik Hizmetleri As Class B — MLP Care — Q1 2018 Earnings Presentation
23 slides from Mlp Saglik Hizmetleri As Class B's earnings presentation, May 8, 2018
Slide 1: MLP Care 1Q2018 Presentation
MLP Care 1Q2018 Presentation 8 May 2018
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation may contain certain forward-looking statements concerning MLP Care’s future performance and should be considered as good faith estimates made by the Company. These forward-looking statements reflect management expectations and are based upon currently ava
Slide 3: Muharrem Usta, Chairman & CEO
Muharrem Usta Chairman & CEO 3
Slide 4: Executive Summary
Executive Summary Double digit revenue growth accross all segments Expansion in EBITDA margin Significant decline in leverage ratio Bottomline turned into positive Two new greenfield hospitals: Pendik and Mersin 4
Slide 5: Capacity Expansion on Track in 1Q2018
Capacity Expansion on Track in 1Q2018 +2 + 500 New Hospital New Beds in 2018 in 2018 17 Cities 31 Hospitals ~5.900 17.000+ Staff in Total Beds in Total 2.000+ Doctors 5
Slide 6: Solid Financial Performance in 1Q2018
Solid Financial Performance in 1Q2018 Net Sales (TLm) Adj. EBITDAR¹ (TLm) Adj. EBITDA¹ (TLm) %18.2 %25.5 %29.7 Net Sales grew by 18.2%, contributed by double digit revenue growth across all segments Both EBITDA & EBITDAR margins improved, driven by improved operating profitability as well as succe
Slide 7: Two New Hospitals Added to Our Hospital Network
Two New Hospitals Added to Our Hospital Network Pendik Mersin Location İstanbul Mersin Opening Date March 2018 May 2018 Key Statistics 62,000 m2 35,000 m2 7
Slide 8: Continued Growth in All Payor Types
Continued Growth in All Payor Types Revenue Breakdown by Payor Type – 1Q2018 Highest growth categories were Medical Other «Private Medical Insurance 14% 67% Tourism 7% (PMI), Top-up & Contracted 8% Institutions» and «Medical Tourism» segments SSI • PMI, Top-up & Contracted PMI, Top-up 31% Institut
Slide 9: Strong Growth in Top-up Insurance Continues
Strong Growth in Top-up Insurance Continues CAGR (2014-2017) # of People With Private Medical Insurance (PMI and Top-up) 2,703 6.9% 3.000 2,281 2,678 2,214 2.500 134 405 119.4% 64 676 2.000 1.500 1.000 2,150 2,147 2,273 2,026 -2.0% 500 - 2014 2015 2016 2017 PMI Top-up Insurance MLP Care’s share in
Slide 10: Burcu Öztürk, CFO
MLPCARE Burcu Oztiirk CFO 10
Slide 11: All Segments Post Strong Growth in 1Q2018
All Segments Post Strong Growth in 1Q2018 A B C Domestic Patient Medical Tourism Ancillary Business Revenues Revenues TL 54 m TL 636 m TL 59 m 14.4% growth y-o-y 15.4% growth y-o-y 67.3% growth y-o-y Growth Continued in 1Q Continued to attract Generating higher Foreign Patients revenues Inpatient
Slide 12: Domestic Hospital Business Revenue up 15.4%
Domestic Hospital Business Revenue up 15.4% Outpatient and Inpatient revenues made up 41% and 59% of total Domestic Hospital Business Revenues in 1Q2018, respectively 600 Outpatient Revenues (TLm) Inpatient Revenues (TLm) 600 500 500 400 400 377 337 300 259 300 214 200 200 100 100 0 0 1Q2017 1Q201
Slide 13: Growth Continued in Both Mature & Developing Segments
Growth Continued in Both Mature & Developing Segments Mature Hospitals’ Revenue1 (TLm) Developing Hospitals’ Revenue1 (TLm) 200 700 639 600 542 150 126 500 400 100 300 60 200 50 100 0 0 1Q2017 1Q2018 1Q2017 1Q2018 TL97m (17.9%) Growth in Mature TL66m (111.4%) Growth in Developing Hospitals’ Revenue
Slide 14: Cost Savings and Smart Cost Management
Cost Savings and Smart Cost Management Cost of Service and G&A Expenses as a % of Material costs as a % of Revenues revenue declined, helped by Adj. EBITDA Margin 17.0% 18.7% the patient mix impact and decline in share of laboratory services business revenues 7.0% 6.9% 4.1% (with higher material c
Slide 15: Leverage Ratio Significantly Declined
Leverage Ratio Significantly Declined 2000,0 04 1800,0 3.4 04 1600,0 03 1400,0 Net Debt Currency Breakdown 03 1200,0 1,381 2.1 1000,0 02 December 31, March 31, 800,0 929 02 2017 2018 600,0 01 EUR + USD 67% 46% 400,0 200,0 01 TL 33% 54% - 00 December 31,2017 March 31, 2018 Net Debt (TLm) Net Debt/Adj
Slide 16: Investments Continued in the First Quarter of 2018
Investments Continued in the First Quarter of 2018 Maintenance Capex (TL Million) Capex of New Hospitals (TL Million) 3.6 % 3.6 % 87 64 23 27 1Q2017 1Q2018 1Q2017 1Q2018 % of Sales 16
Slide 17: MLP Care
CARE
Slide 18: Closing Remarks
Closing Remarks Muharrem Usta – Chairman & CEO 18
Slide 19: Closing Remarks
Closing Remarks A strong start to 2018 Capacity expansion on track with two new hospitals in 2018 Cash injection from IPO used to lower net debt Strengthened B/S through reduction in leverage ratio A turnaround in bottomline driven by improved operating profitability 19
Slide 20: Thank You!
Thank You! MLP Care Investor Relations Deniz Can Yücel +90 212 227 5555 (Ext: 1148) deniz.yucel@mlpcare.com http://investor.mlpcare.com/en/
Slide 21: Historical P&L Statements
Historical P&L Statements 1Q2017 1Q2018 TLm Revenue 634 749 Cost of service (-) (534) (611) Gross Profit 100 138 General administration expenses (-) (43) (60) Other income from operations 115 67 Other expenses from operations (-) (118) (49) Operating Income 54 96 Finance expenses (-) (80) (127) Net
Slide 22: Historical Balance Sheet
Historical Balance Sheet 2017 2018 TLm Dec 31 Mar 31 Cash and cash equivalents 218 247 Trade receivables 750 791 Inventory 51 69 Short term other assets 142 161 Current assets 1,161 1,268 Fixed assets 1,220 1,275 Deferred tax assets 197 233 Long term other assets 143 151 Non-current assets 1,560 1,6
Slide 23: Reconciliation from Reported EBITDA to Adjusted EBITDA
Reconciliation from Reported EBITDA to Adjusted EBITDA TLm 1Q2017 1Q2018 Net Profit / (Loss) (17) 2 Tax Income from Operations (9) (32) Depreciation and Amortization of Tangible and Intangible Fixed Assets 41 44 Total Interest Expenses, Net of Interest Income and Gain on Financial Derivatives 79 120