National Medical Care Co. · TADAWUL:4005
National Medical Care — H1 2024 Earnings Presentation
19 slides from National Medical Care's earnings presentation, Aug 6, 2024
Slide 1: Earnings Presentation 1H 2024
Earnings Presentation 1H 2024 6 August, 2024 | Riyadh, KSA
Slide 2: Performance Highlights and Strategy
Performance Highlights and Strategy Care Medical Earnings Presentation – 06/08/24 2
Slide 3: Operating and Financial Performance Highlights
Operating and Financial Performance Highlights Enhanced operational efficiency and improved financial performance with branch expansion Revenue Total patients New branches 1H 2024 1,082 328.4 1H 2024 thousand +3% Y-o-Y AlBalad Haram 595 SAR mn Outpatients1 • Jeddah, KSA +18% year-on- year 318.8 1H 2
Slide 4: Care Growth Strategy: Key Strategic Initiatives Underway
Care Growth Strategy: Key Strategic Initiatives Underway Ongoing initiatives centre around further organic and inorganic business growth Expansion Utilize merger and acquisition opportunities to bolster business growth in Saudi Arabia Mergers & Acquisitions New Hospital in Riyadh Mental Health Platf
Slide 5: Operating and Financial Performance
Operating and Financial Performance Care Medical Earnings Presentation – 06/08/24 5
Slide 6: Operational Trends
Operational Trends Growing patient numbers supported by new branches, offset by the completion of a significant contract Operational Highlights1,2 Inpatients Admissions Quarterly Trend SAR mn 1H2024 1H2023 YoY, % 1H2024 LfL YoY, % (Admissions) Inpatient admissions 9,636 10,562 -9% 9,542 -10% -5% Out
Slide 7: Income Statement
Income Statement 1H 2024 profitability improvement driven by expanding operations, better pricing, and cost control Income Statement Highlights Net Profit Development SAR mn 2Q2024 2Q2023 YoY, % 1H2024 1H2023 YoY, % (SAR mn) Revenues 297 245 +21% 595 507 +18% Cost of revenues (189) (164) +15% (377)
Slide 8: Revenue Trends
Revenue Trends Revenue in 1H 2024 supported by improving prices and increasing number of referrals from key client Revenue Development Revenue by Business Unit (1H 2024) (SAR mn) (SAR mn) 4 +18% 4 3 6 595 Malaz branch, 41.9% 12 3 13 Rawabi branch, 48.8% 2 SAR 595mn (0) 2 58 1 AlBalad branch, 8.7% 1
Slide 9: Costs Overview
Costs Overview Total expenses growth below the rise in revenue, creating a positive operating leverage effect Total Expenses Breakdown (1H 2024) Cost of Revenues Breakdown (1H 2024) (SAR mn) (SAR mn) Operating expenses, 17.7% 4 +17% Salaries & benefits 66.7% 4 1H 2024 YoY 3 23.5% 3 Medicines & consu
Slide 10: Balance Sheet Highlights
Balance Sheet Highlights Strong balance sheet supported by a significant cash reserve and efficient cash conversion cycle Balance Sheet Highlights Cash Conversion Cycle1 Trend SAR mn 2Q2024 4Q2023 YtD, % (Days) Total Non-Current Assets 1,109 936 +18% +3% Total Current Assets 1,082 1,278 -15% Total A
Slide 11: Receivables Management
Receivables Management Growing receivables driven by higher number of referrals from key clients Trade Receivables1 Development Trade Receivables1 Structure (end of 2Q 2024) (SAR mn) (SAR mn) 38.3% GOSI +26% 28.4% MoH 13 831 22.1% 61 2 Insurance 4.7% 153 Cash 6.5% Other 659 Trade Receivables1 Aging
Slide 12: Cash Flow Highlights
Cash Flow Highlights Stronger results support cash flow, counterbalanced by working capital increase Cash Flow Highlights Cash Flow From Operations Development YoY, (SAR mn) SAR mn 2Q2024 2Q2023 YoY, % 1H2024 1H2023 % Net Profit before zakat 65 57 +14% 139 121 +16% 362 19 19 Non-cash adjustments 26
Slide 13: Q&A Session
Q&A Session Care Medical Earnings Presentation – 06/08/24 13
Slide 14: Appendix
Appendix Care Medical Earnings Presentation – 06/08/24 14
Slide 15: Operating Performance Overview (1/2)
Operating Performance Overview1 (1/2) Total Patients Trend Surgeries Trend (Thousand patients) (Thousand surgeries) +13% CAGR +16% CAGR 639 651 19 19 532 16 396 362 254 253 13 193 10 140 136 339 385 398 256 227 FY19 -9% FY20 +47% FY21 +20% FY22 +2% FY23 Rawabi branch Malaz branch FY19 +26% FY20 +20%
Slide 16: Operating Performance Overview (2/2)
Operating Performance Overview1 (2/2) Occupied Beds Trend Bed Occupancy Trend (Occupied beds) (%) -3% CAGR 80.3% 78.8% 79.2% 77.6% 516 526 508 519 464 70.8% 298 286 283 292 255 218 240 225 227 209 FY19 +2% FY20 -3% FY21 +2% FY22 -11% FY23 FY19 FY20 FY21 FY22 FY23 Rawabi branch Malaz branch Inpatient
Slide 17: Financial Performance Overview
Financial Performance Overview Total Revenue Trend EBITDA Trend (SAR mn) (SAR mn) +11% CAGR +15% CAGR 1,082 302 845 918 809 243 708 214 174 179 FY19 +14% FY20 +5% FY21 +9% FY22 +18% FY23 FY19 +3% FY20 +19% FY21 +13% FY22 +24% FY23 Net Profit Trend Margins Trend (SAR mn) (%) +32% CAGR 34.2% 24.5% 27.
Slide 18: Contacts
Contacts Institutional investor contact Care Investor Relations Care.IR@care.med.sa +966-11-493-1881 ext. 123 & 135 Care Medical Earnings Presentation – 06/08/24 18
Slide 19: Disclaimer
Disclaimer All information included in this document is for general use only and has not been independently verified, nor does it constitute or form part of any invitation or inducement to engage in any investment activity, nor does it constitute an offer or invitation or recommendation to buy or su
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