National Medical Care Co. · TADAWUL:4005
National Medical Care — FY2025 Earnings Presentation
20 slides from National Medical Care's earnings presentation, Feb 18, 2026
Slide 1: Earnings Presentation FY 2025
Earnings Presentation FY 2025 18 February 2026 | Riyadh, KSA
Slide 2: Performance Highlights and Strategy
Performance Highlights and Strategy Care Medical Earnings Presentation – 18/2/2026 2
Slide 3: Operating and Financial Performance Highlights
Operating and Financial Performance Highlights Strong financial and operational performance in FY 2025, supported by sustained revenue growth in Q4 and operational momentum across legacy and newly integrated facilities Revenue FY 2025 985.1 Total patients FY 2025 New facility with significant strate
Slide 4: Care Medical Corporate Strategy Refresh
Care Medical Corporate Strategy Refresh A scalable healthcare platform delivering favorable margins, a path to sustained growth and long-term equity value creation Scaled, multi-segment and diversified healthcare Growth engine organic expansion& M&A ecosystem Well-defined growth strategy combining o
Slide 5: Key Growth Drivers – Unlocking Value Across Care Medical's Platform
Key Growth Drivers – Unlocking Value Across Care Medical’s Platform Strengthening Care’s market position in KSA’s dynamic healthcare market through capacity optimization, operational excellence, and service innovation Under-utilized Capacity in Existing Facilities Faster Throughput through Improved
Slide 6: Operating and Financial Performance
Operating and Financial Performance FY 2025 Care Medical Earnings Presentation – 18/2/2026 6
Slide 7: Operational Trends
Operational Trends Sustained patient volume growth driven by strong performance at legacy hospitals, as well as a significant uplift from Al Salam Hospital following its full year of operations Operational Highlights1,2 Inpatients Admissions Quarterly Trend 4Q2025 4Q2024 YoY, % FY20252 FY20242 YoY,
Slide 8: Income Statement
Income Statement Operational efficiency supported gross margin expansion and stable EBITDA margins; while NPM was impacted by the absence of one-off reversals of legal and zakat provisions booked in the prior year Income Statement Highlights Net Profit Development SAR mn 4Q2025 4Q2024 YoY, % FY2025
Slide 9: Revenue Trends
Revenue Trends Top-line growth in FY 2025 supported by broad-based growth across the network, notable uplift from Al Salam following its full-year contribution, alongside strong revenue growth from key payors Revenue Development1 Revenue by Business Unit (FY 2025) (SAR mn) (%) AlBalad branch, 6.8% R
Slide 10: Costs Overview
Costs Overview Higher cost of revenue reflect increased salaries associated with Care’s expanded operations, and higher spending on medicines and consumables in line with higher volumes and the full-year operation of Al Salam Total Expenses Breakdown (FY 2025) Cost of Revenues Breakdown (FY 2025) (%
Slide 11: Balance Sheet Highlights
Balance Sheet Highlights Strong balance sheet underpinned by healthy liquidity and a net cash position Balance Sheet Highlights Cash Conversion Cycle1 Trend SAR mn 4Q2025 4Q2024 YtD, % (Days) Total Non-Current Assets 1,291 1,269 +2% +8% Total Current Assets 1,480 1,229 +20% Total Assets 2,771 2,499
Slide 12: Receivables Management
Receivables Management Rising accounts receivables reflect the Group’s expanding operations and higher activity levels, with settlements expected to materialize in the coming period Trade Receivables1 Development Trade Receivables1 Structure (end of 4Q 2025) (SAR mn) (SAR mn) 34.8% Insurance +27% 32
Slide 13: Cash Flow Highlights
Cash Flow Highlights Lower operating cash flow primarily reflects higher working capital outflows associated with receivables and inventory levels Cash Flow Highlights Cash Flow From Operations Development (SAR mn) SAR mn 4Q2025 4Q2024 YoY, % FY2025 FY2024 YoY, % Net Profit before zakat 81 82 -1% 34
Slide 14: Q&A Session
Q&A Session Care Medical Earnings Presentation – 18/2/2026 14
Slide 15: Appendix
Appendix Care Medical Earnings Presentation – 18/2/2026 15
Slide 16: Operating Performance Overview (1/2)
Operating Performance Overview1 (1/2) Total Patients Trend Surgeries Trend (Thousand patients) (Thousand surgeries) +17% CAGR +12% CAGR 985 25 639 651 742 207 19 19 20 532 46 16 261 299 193 254 253 339 385 398 427 479 FY21 +20% FY22 +2% FY23 +14% FY24 +33% FY25 FY21 + 19% FY22 + 1% FY23 + 7% FY24 +2
Slide 17: Operating Performance Overview (2/2)
Operating Performance Overview1 (2/2) Bed Capacity Trend Bed Occupancy Trend (Available beds) (%) +16% CAGR 77.6% 79.2% 82.8% 1,128 1,178 70.8% 68.1% 349 359 655 655 655 459 459 335 335 335 320 320 320 320 360 FY21 +0% FY22 +0% FY23 +72% FY24 +4% FY25 FY21 FY22 FY23 FY24 FY25 Rawabi branch Malaz bra
Slide 18: Financial Performance Overview
Financial Performance Overview Total Revenue Trend EBITDA Trend (SAR mn) (SAR mn) +17% CAGR +21% CAGR 465 1,600 377 1,294 302 1,082 243 845 918 214 FY21 +9% FY22 +18% FY23 +20% FY24 +24% FY25 FY21 +13% FY22 +24% FY23 +25% FY24 +23% FY25 Net Profit Trend Margins Trend (SAR mn) (%) 36.8% +24% CAGR 29.
Slide 19: Contacts
Contacts Institutional investor contact Alia Balbaa Investor Relations and Strategy Director abalbaa@care.med.sa +966-11-418-4488 ext. 322 Investor Relations website https://ir.care.med.sa/ Care Medical Earnings Presentation – 18/2/2026 19
Slide 20: 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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