Almoosa Health Co. · TADAWUL:4018
Almoosa Health — FY2024 Earnings Presentation
37 slides from Almoosa Health's earnings presentation, March 2025
Slide 1: Almoosa Health FY 2024 Earnings Presentation
Almoosa Health FY 2024 Earnings Presentation March 2025
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Almoosa Health (the “Company”) for general use only and is not necessarily comprehensive as it has not been independently verified, nor is it considered or constitutes part of any invitation or inducement to engage in any investment activity, nor doe
Slide 3: Presenters & Agenda
Presenters & Agenda Malek Almoosa Chief Executive Officer 1 Business overview 2 Financial review Shailesh Chander Chief Financial Officer 3 Summary and outlook 4 Q&A Yousef Alyousef Investor Relations Officer 3
Slide 4: Business Overview
Business Overview Almoosa Health
Slide 5: 2024 Highlights: Another year of resilient growth and expansion
2024 Highlights: Another year of resilient growth and expansion Number of Number of Significant overall growth, passing 1 million patients served, recording SAR 1.2 billion in Clinics Available Beds revenue (+22.8%), delivering EBITDA of SAR 270 million (+37.8%) and resilient net profit of FY 2024 F
Slide 6: Key accreditations secured during 2024
Key accreditations secured during 2024 Almoosa's rehabilitation and long-term care hospital earned six top accreditations in 2024, solidifying our commitment to exceptional patient care and quality standards College of Central Board for Association for Healthcare Commission on U.S. Green American Ac
Slide 7: A leader in comprehensive healthcare
A leader in comprehensive healthcare Almoosa offers a world-class integrated health system that fosters wellness and healing across the care continuum, enabled by innovation and transformation Primary Care1 Acute Care Post-acute Care Future offerings Al-Khobar PHCC–1 Rehabilitation Patient Acquisiti
Slide 8: Delivering on our growth strategy: PHCCs pipeline update
Delivering on our growth strategy: PHCCs pipeline update 4Q-2025 2Q-2027 Nakheel Primary Sulmaniyah Healthcare Primary Healthcare Center Center Al-Ahsa Al-Ahsa Current Status: The location has been identified, and Current Status: Located in Hofuf, the architectural work is architectural work is comp
Slide 9: Delivering on our growth strategy: Hospitals pipeline update
Delivering on our growth strategy: Hospitals pipeline update Two major projects have significantly progressed, enhancing healthcare access and operational capabilities Almoosa Specialist Hospital Al-Hofuf • 300-bed multispecialty hospital, focusing on specialized acute care services • Designed by HK
Slide 10: Delivering on our growth strategy: Hospitals pipeline update
Delivering on our growth strategy: Hospitals pipeline update Two major projects have significantly progressed, enhancing healthcare access and operational capabilities Almoosa Specialist Hospital Al-Khobar • 400-bed multispecialty hospital, focusing on specialized acute care services • Designed by P
Slide 11: Financial Review
Financial Review Almoosa Health
Slide 12: Financial highlights
Financial highlights Robust and consistent growth in patient volume SAR MN 2023 2024 Δ% FY 2024 Q4 2024 1 +18.4% YOY +14.9% YOY Net Revenue 979.0 1,202.3 22.8% Strong revenue growth across segments FY 2024 Q4 2024 2 +22.8% YOY +21.7% YOY EBITDA 196.2 270.3 37.8% SAR 1,202.3 MN SAR 332.1 MN (margin)
Slide 13: Strong patient and revenue growth driven by strategic expansion and operational efficiency
Strong patient and revenue growth driven by strategic expansion and operational efficiency Patient volume (‘000) +18.4% 1,118.0 943.9 +14.9% 307.5 267.6 2023 2024 Q4 2023 Q4 2024 Revenue (SAR MN) 1,202.3 979.0 +22.8% +21.7% 332.1 272.8 2023 2024 Q4 2023 Q4 2024 Source: Company's Financial statements
Slide 14: All segments contributing to strong growth
All segments contributing to strong growth Revenue by segment Medical Services Rehabilitation Pharmaceuticals +22.8% % Change YoY 19% 21% +12.3% 6% 2023 10% 2024 +108.6% 69% 75% +38.3% +21.7% 21% +13.3% 20% 6% +154.5% Q4 2023 12% Q4 2024 73% 68% +15.4% Source: Company's Financial statements, Company
Slide 15: Supported by healthy payer mix
Supported by healthy payer mix Revenue by payer mix Insurance and corporates MoH Cash +22.8% % Change YoY 10% 8% 8% 8% +25.6% 2023 2024 +25.2% 82% 84% -3.7% +21.7% 8% 7% +23.9% 8% 8% +17.1% Q4 2023 Q4 2024 +4.5% 84% 85% Source: Company's Financial statements, Company information 15
Slide 16: Robust profitability and operational efficiency gains
Robust profitability and operational efficiency gains Gross Profit / Margin (SAR MN / %) 31.4% 30.9% 37.8% 36.1% 371.7 307.0 +21.1% +16.4% 119.9 103.0 2023 2024 Q4 2023 Q4 2024 EBITDA / Margin (SAR MN / %) 20.0% 22.5% 18.5% 30.6% 270.3 196.2 +37.8% +101.6% 101.5 50.4 2023 2024 Q4 2023 Q4 2024 Source
Slide 17: Resilient net profit amid new hospital opening and service expansion
Resilient net profit amid new hospital opening and service expansion Net Profit / Margin (SAR MN / %) 10.0% 7.9% 7.4% 16.3% 98.1 94.4 -3.8% 54.0 +167.7% 20.2 2023 2024 Q4 2023 Q4 2024 Source: Company's Financial statements, Company information 17
Slide 18: Well-managed working capital with negative cash conversion cycle
Well-managed working capital with negative cash conversion cycle Net working capital (SAR MN) Inventories Accounts Receivables Other current Assets Accounts Payable Other current liabilities Days 2023 2024 289.2 277.5 34.2 26.3 DPO 188 197 446.5 484.3 DSO 148 132 59.4 68.3 (210.7) (253.6) DIO 32 31
Slide 19: Capital expenditure driving strategic expansion
Capital expenditure driving strategic expansion Capital Expenditure / % of revenues (SAR MN / %) 42.6% 21.9% 21.1% 27.4% 417.4 -36.8% 263.6 91.1 +58.2% 57.6 2023 2024 Q4 2023 Q4 2024 Source: Company's Financial statements, Company information 19
Slide 20: Lower leverage as EBITDA is ramping up
Lower leverage as EBITDA is ramping up Net debt (SAR MN) Net Debt / EBITDA 6.1x 4.8x 38.2 15.8 1,299.6 1,197.2 2023 2024 Net debt Cash Source: Company's Financial statements, Company information 20
Slide 21: Summary & Outlook
Summary & Outlook Almoosa Health
Slide 22: Summary and strategic priorities
Summary and strategic priorities 2024 Milestones 2025 Strategic Priorities Significant increase in patient volume, driven by ramp up in Rehabilitation • Integrating services across primary care, acute care, Hospital combined with an expanded rehabilitation, and long-term care. This seamless coordina
Slide 23: Q&A
Q&A Almoosa Health
Slide 24: Appendix
Appendix Almoosa Health
Slide 25: Key investment highlights
Key investment highlights Tailwinds Integrated Favorable economic tailwinds boost the Company’s growth position in the 01 02 Offering a complete spectrum of services, from primary care to advanced defensive healthcare market rehabilitation, establishing Almoosa as a leader in comprehensive healthcar
Slide 26: Growing and underpenetrated healthcare sector relative to global benchmarks
Growing and underpenetrated healthcare sector relative to global benchmarks… Notable historical acceleration in healthcare expenditures, Saudi healthcare expenditure as % of GDP driven by private sector with robust growth outlook is well behind global benchmarks Healthcare expenditures (SAR BN) CAGR
Slide 27: A transformative national healthcare vision resolving the infrastructure gap
…with a transformative national healthcare vision resolving the infrastructure gap Privatization Program Mandatory Insurance Privatization Program Mandatory Insurance Unlock state-owned assets for Growing health insurance Unlock state-owned assets for Growing health insurance the private sector, and
Slide 28: Our differentiated value proposition for superior healthcare since 1996
Our differentiated value proposition for superior healthcare since 1996 Integrated Comprehensive State-of-the-art Positioned Strong brand equity healthcare player 730 bed powerhouse facilities for growth Almoosa Specialist Hospital Technology-enabled care (Acute Care) Robotic surgery Consolidate pre
Slide 29: An integrated, patient-centered health system delivering continuity of care
An integrated, patient-centered health system delivering continuity of care Integrated Healthcare Ecosystem Preventative Primary Secondary Tertiary Post- Acute Care Tele-health Preventative Care Primary Care Acute Care Centers of Post-acute Care Tele-health Services Services Services Excellence Serv
Slide 30: Strong ESG record and commitment
Strong ESG record and commitment Environmental Social Governance Environmental Social Governance Environmental Social Governance Promoting environmental responsibility and building a greener future, through eco-friendly facilities «Play Together» Garden A Paramedic in Every School Ethics and Integri
Slide 31: Strong ESG record and commitment (1/3)
Strong ESG record and commitment (1/3) Environmental Social Governance Promoting environmental responsibility and building a greener future, through eco-friendly facilities Environment-friendly buildings, consistency earning LEED Gold sustainability certification Waste Management System With robust
Slide 32: Strong ESG record and commitment (2/3)
Strong ESG record and commitment (2/3) Environmental Social Governance Committed to invest in the society of Al-Ahsa as regional leader in community-based initiatives “Al-Ahsaa” Run Race Smile of Hope “Play Together” Garden A Paramedic in Every School Annual marathon in Al-Ahsa, in Treating children
Slide 33: Strong ESG record and commitment (3/3)
Strong ESG record and commitment (3/3) Environmental Social Governance Promoting environmental responsibility and building a greener future, through eco-friendly facilities Board of Directors Reporting system Oversight Risk Management Ethics and Integrity Diverse board composition Clear, accurate, a
Slide 34: Income Statement
Income Statement SAR Mn FY23 FY24 % Chg. Revenue 979.0 1202.3 22.8% Cost of revenue -672.0 -830.6 23.6% Gross profit 307.0 371.7 21.1% Other income 14.1 18.3 30.0% Selling and distribution expense -12.8 -24.9 94.8% General and administrative expenses -176.3 -173.7 -1.5% Provision / (reversal) for im
Slide 35: Balance Sheet
Balance Sheet SAR Mn FY23 FY24 Property & equipment 1,743.6 1,894.4 Right of use assets 6.0 16.6 Intangible assets 4.1 8.4 Equity accounted investee 0.0 9.0 Total Non-Current Assets 1,753.7 1,928.4 Total Current Assets 548.1 625.0 Total Assets 2,301.8 2,553.4 Total Current Liabilities 487.7 562.8 To
Slide 36: Cash Flow Statement
Cash Flow Statement SAR Mn FY22 FY23 FY24 Net cash from operating activities -9.9 40.1 183.7 Net cash used in investing activities -316.7 -454.4 -262.2 Net cash from financing activities 283.8 414.9 100.9 Net change in cash and cash equivalents -42.9 0.6 22.4 Cash and cash equivalents at beginning o
Slide 37: Thank you.
Thank you. ir.almoosahealthgroup.org