Medicover Ab Class B · OMXSTO:MCOV_B

Medicover Ab Class B — Q2 2023 Earnings Presentation

15 slides from Medicover Ab Class B's earnings presentation, Jul 26, 2023

  1. Slide 1: Web cast presentation: Q2 results presentation

    Web cast presentation Q2 results presentation Fredrik Rågmark, CEO & Joe Ryan, CFO 26 July 2023

  2. Slide 2: Disclaimer regarding forward-looking statements

    DISCLAIMER REGARDING FORWARD-LOOKING STATEMENTS This presentation may contain certain forward-looking statements and opinions. Forward-looking statements are statements that do not relate to historical facts and events and such statements and opinions pertaining to the future that, by example, conta

  3. Slide 3: Strong organic growth although still difficult macroeconomic environment

    Strong organic growth although still difficult macroeconomic environment  Strong organic growth 12.9%, excluding Covid-19 22.0%.  €358m of additional revenue generated over last 12 months, vast majority organic growth, illustrating growth momentum.  Solid growth and improved margins in Healthcare

  4. Slide 4: Revenue Q2 – strong growth

    Revenue Q2 – strong growth Revenue split per country / payer** Consolidated revenue -31%  Revenue €424.7m (€362.2m), up +104% 4% 6% 500 17.2%, organic growth of 12.9%. +12% +30% 11% 424.7 48% 400 25.3  Strong organic growth has 12% 362.2 0.8 compensated for Covid-19. +25% 28.0 Organic growth excl.

  5. Slide 5: Strong development despite falloff of Covid-19

    Strong development despite falloff of Covid-19  EBITDA €58.3m (€52.8m), increased by 10.2%, 80 25% a margin of 13.7% (14.6%). 20%  Adjusting for Covid-19, EBITDA margin 60 strengthened 120bps to 13.7% (12.5%). 15%  Adj EBITDA €61.1m (€56.0m), a margin of 40 14.4% (15.5%). 10%  Adj EBITDAaL €36.7

  6. Slide 6: Healthcare Services – strong performance

    Healthcare Services – strong performance 300  Revenue was €292.5m (€219.5m), up 33.3% 250 with an organic growth of 22.1%, price 200 representing ~12pp of the growth. 150 100  Acquired revenue was €25.0m. 50 0  FFS* represented 53% of divisional revenue, Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3

  7. Slide 7: Healthcare Services – improved margins

    Healthcare Services – improved margins 50 25%  EBITDA of €44.8m (€29.5m), grew by 51.7%, 45 a margin of 15.3% (13.5%). 40 20% 35  Improved margins although still dilution from immature units. 30 15% 25  EBITDAaL of €26.8m (€14.4m), a margin of 20 10% 9.2% (6.6%). 15 10 5%  Acquisitions and incre

  8. Slide 8: Diagnostic Services – healthy development

    Diagnostic Services – healthy development 200  Revenue was €138.1m (€147.4m), with an 150 organic reduction of 0.4%. 100  Revenue from Covid-19 was €0.8m (€27.0m). 50  Organic growth excl Covid-19 was strong at 0 21.0%, price representing ~5pp. Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2020 2020 202

  9. Slide 9: Diagnostic Services – softer development due to challenges in the German environment

    Diagnostic Services – softer development due to challenges in the German environment  EBITDA of €20.3m (€28.9m), a margin of 14.7% 60 35% (19.6%). 30%  EBITDA excluding Covid-19 was €20.2m (€18.2m), 50 and a margin of 14.7% (15.1%). 25% 40  EBITDAaL of €14.0m (€22.6m), a margin of 10.1% (15.3%).

  10. Slide 10: Financial overview

    a > a MEDICOVER Financial overview

  11. Slide 11: Financials

    Financials Lease Other Total Implied Implied INTEREST / DEBT liability interest interest Lease interest Gross interest interest costs charge liabilities rate debt rate Q2 23 6.0 5.5 11.5 437.7 5.5% 527.5 4.2% Q2 22 5.4 2.5 7.9 396.8 5.4% 490.3 2.0% Liquidity: Average maturity 4.5 years Undrawn facil

  12. Slide 12: Financials cont.

    Financials cont. ROU liabilities movement Consolidated equity (parent) YTD YTD 1 January 2023 424.3 1 January 2023 472.4 Acquisitions 2.5 Profit for Period 7.0 Payments -31.7 OCI 23.2 New leases / extensions / 45.3 Changes in put option and -3.8 indexation liquidity obligation NCI Terminations -4.5

  13. Slide 13: Financial targets 2023-2025

    Financial targets 2023-2025 Revenue, €m Adjusted EBITDA (organic), €m Leverage 2 200 350 1 510 234 ≤3.5x Can exceed over shorter periods Dividend policy, 2022 2025 target 2022 2025 target share of net profit Organic revenue exceeding An adjusted organic EBITDA <50% in excess of €2.2bn €350m A 13.4%

  14. Slide 14: Thank you!

    =~ MEDICOVER Thank you! CARING FOR YOUR HEALTH IS ALL WE DO

  15. Slide 15: Financial calendar

    Financial calendar Report Date Webcast Q3-report 3 November 2023, 07.45 CET 09.30 CET Q4 and year-end-report 9 February 2024, 07.45 CET 09.30 CET Q1-report 26 April 2024, 07.45 CEST 09.30 CEST Q2-report 25 July 2024, 07.45 CEST 09.30 CEST Q3-report 30 October 2024, 07.45 CET 09.30 CET 15

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