National Medical Care Co. · TADAWUL:4005
National Medical Care — Q1 2024 Earnings Presentation
21 slides from National Medical Care's earnings presentation, May 14, 2024
Slide 1: Earnings Presentation 1Q 2024
Earnings Presentation 1Q 2024 14 May, 2024 | Riyadh, KSA
Slide 2: Performance Highlights and Strategy
Performance Highlights and Strategy Care Medical Earnings Presentation – 14/05/24 2
Slide 3: Operating and Financial Performance Highlights
Operating and Financial Performance Highlights Consistent operational efficiency and improved financial performance with branch expansion Revenue New branches 165.9 Total patients in 1Q 2024 1Q 2024 299 AlBalad Haram thousand flat year-on-year 299 SAR mn 261 • Jeddah, KSA • Mecca, KSA +14% year-on-y
Slide 4: Care Growth Strategy
Care Growth Strategy Strategy stands to reshape the organization, boost Company's performance and transform patient care Strategic Objectives Extend Serve Deliver Realize A set of carefully designed Extend health Serve new Deliver Realize potential service offering population exceptional of value in
Slide 5: Care Growth Strategy: Completed Strategic Initiatives
Care Growth Strategy: Completed Strategic Initiatives Finalized initiatives boost revenue, broaden segments, and strengthen patient and partner ties Expansion Home Healthcare Services Executive Health Check Launched Home Healthcare Services to enhance client satisfaction Introduced an executive heal
Slide 6: 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 7: Operating and Financial Performance
Operating and Financial Performance Care Medical Earnings Presentation – 14/05/24 7
Slide 8: Operational Trends
Operational Trends Steady patient numbers supported by new branches, offset by the completion of a significant contract Operational Highlights1 Inpatients Admissions Quarterly Trend SAR mn 1Q2024 1Q2023 YoY, % 1Q2024 LfL YoY, % (Admissions) Inpatient admissions 4,810 5,461 -12% 4,770 -13% -12% Outpa
Slide 9: Income Statement
Income Statement 1Q 2024 profitability improvement driven by steady operations, better pricing, and cost control efforts Income Statement Highlights Net Profit Development SAR mn 1Q2024 1Q2023 YoY, % (SAR mn) Revenues 299 261 +14% Cost of revenues (188) (172) +10% +44% Gross profit 110 90 +23% Opera
Slide 10: Revenue Trends
Revenue Trends Revenue in 2024 fueled by price hikes and increasing number of referrals from key client Revenue Development Revenue by Business Unit (1Q 2024) (SAR mn) (SAR mn) 4 +14% 4 3 1 0 Malaz branch, 43.8% 7 3 36 299 2 SAR 299mn Rawabi branch, 47.2% 2 (7) 1 1 0 AlBalad branch, 8.6% Haram branc
Slide 11: Costs Overview
Costs Overview Total expenses growth slower than the rise in revenue, creating a favourable operating leverage effect Total Expenses Breakdown (1Q 2024) Cost of Revenues Breakdown (1Q 2024) +12% (SAR mn) (SAR mn) 4 67.3% Operating expenses, 16.7% Salaries & benefits 4 1Q 2024 YoY 3 22.8% 3 Medicines
Slide 12: Balance Sheet Highlights
Balance Sheet Highlights Solid balance sheet, marked by a significant cash reserve and a more efficient cash conversion cycle Balance Sheet Highlights Cash Conversion Cycle1 Trend SAR mn 1Q2024 4Q2023 YtD, % (Days) Total Non-Current Assets 1,088 936 +16% -25% Total Current Assets 1,144 1,278 -11% To
Slide 13: Receivables Management
Receivables Management Focused receivables management through the efficient clearance of key clients' backlogs Trade Receivables1 Development Trade Receivables1 Structure (end of 1Q 2024) (SAR mn) (SAR mn) 33.9% MoH +2% 27.4% GOSI 12 673 25.1% 659 19 2 Insurance 45 5.8% Cash 7.8% Other (65) Trade Re
Slide 14: Cash Flow Highlights
Cash Flow Highlights Cash flow from operations supported by stronger results, counterbalanced by higher working capital Cash Flow Highlights Cash Flow From Operations Development SAR mn 1Q2024 1Q2023 YoY, % (SAR mn) Net Profit before zakat 74 63 +17% -48% Non-cash adjustments 28 18 +54% 10 90 11 Wor
Slide 15: Q&A Session
Q&A Session Care Medical Earnings Presentation – 14/05/24 15
Slide 16: Appendix
Appendix Care Medical Earnings Presentation – 14/05/24 16
Slide 17: 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 18: Operating Performance Overview (2/2)
Operating Performance Overview1 (2/2) Occupied Beds Trend Bed Occupancy Trend (Occupied beds) (%) -3% CAGR 80.3% 79.2% 78.8% 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 19: 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 20: Contacts
Contacts Institutional investor contact Care Investor Relations Care.IR@care.med.sa +966-11-493-1881 ext. 123 & 135 Care Medical Earnings Presentation – 14/05/24 20
Slide 21: 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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