Fortis Healthcare Ltd. · NSE:FORTIS
Fortis Healthcare — Q1 FY25 Earnings Presentation
38 slides from Fortis Healthcare's earnings presentation, Aug 6, 2024
Slide 1: Regulation 30 cover letter to stock exchanges
Fortis Healthcare Limited Tower-A, Unitech Business Park, Block-F, South City 1, Sector – 41, Gurgaon, Haryana – 122 001 (India) Tel : 0124 492 1033 Fax : 0124 492 1041 Emergency : 105010 Email : secretarial@fortishealthcare.com Website : www.fortishealthcare.com August 06, 2024 FHL/SEC/2024-25 The
Slide 2: Fortis Healthcare announces Q1 FY25 Financial Results
Press Release August 06, 2024 Fortis Healthcare announces Q1 FY25 Financial Results Hospital Business registers a healthy performance in Revenues and Margins Consolidated Revenues increase 12.2% to INR 1,859 Cr Consolidated Operating EBITDA up 25.5% to INR 343 Cr, Margin 18.4% Hospital Business Reve
Slide 3: Press Release: Diagnostics, balance sheet and hospital KPIs
Press Release August 06, 2024 % Change % Change Diagnostic Business (INR Cr) Q1FY24^ Q1FY25^ Q4FY24 YoY QoQ Revenue (net) 303 309 2.0% 296 4.6% Operating EBITDA 66 55 -16.6% 47 17.4% Operating EBITDA Margin 21.9% 17.9% 15.9% Balance Sheet • The Company’s net debt as of 30th June 2024 stood at INR 30
Slide 4: Press Release: Hospital and diagnostics highlights
Press Release August 06, 2024 • Revenues from digital channels viz website, mobile application and digital campaigns witnessed a 52.3% YoY growth and 17.3% QoQ in Q1 FY25. Digital revenues contributed 29.9% to overall hospital revenues versus 22.5% in Q1FY24. • The company’s key facilities such as M
Slide 5: Chairman's statement
Press Release August 06, 2024 Ravi Rajagopal, Chairman, Board of Directors, Fortis Healthcare stated, “The mainstay of our performance continues to be the hospital business which presently contributes approx. 84% to our consolidated EBITDA. We are progressing well on our plans to add capacity of clo
Slide 6: Press release disclaimer
Press Release August 06, 2024 DISCLAIMER This press release may contain forward-looking statements based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and u
Slide 7: Fortis Healthcare Limited – Q1 FY25
FORTIS HEALTHCARE LIMITED EARNINGS PRESENTATION – Q1 FY25 August 06, 2024 1
Slide 8: Disclaimer
DISCLAIMER This presentation may not be copied, published, distributed or transmitted. The presentation has been prepared solely by the company. Any reference in this presentation to “Fortis Healthcare Limited” shall mean, collectively, the Company and its subsidiaries. This presentation has been pr
Slide 9: About Fortis Healthcare
About Fortis Healthcare National Capital Region ➢ FMRI, Gurugram 28 Healthcare Facilities* ➢ FEHI, New Delhi ➢ Shalimar Bagh 1,768 ➢ Noida ➢ Vasant Kunj (O&M) 4,600+ Operational Beds^ ➢ Faridabad ➢ Manesar, Gurugram Punjab ➢ La Femme GK ➢ Mohali ➢ Def Col 6,400+ Doctors ➢ Ludhiana 771 ➢ C-DOC ➢ Ludh
Slide 10: Agenda
AGENDA 1. Clinical Excellence at Fortis 2. Performance Highlights • Earnings and Financial Summary – Q1 FY25 3. Performance Review - Hospital Business 4. Performance Review - Diagnostics Business 5. Appendix 4
Slide 11: Clinical Excellence at Fortis
CLINICAL EXCELLENCE AT FORTIS KEY HIGHLIGHTS 5
Slide 12: Clinical Excellence
CLINICAL EXCELLENCE • Fortis Hospital, BG Road, Bengaluru achieved a significant feat in treating a 58-year- old man diagnosed with Left Kidney Cancer with Solitary Metastasis to Left humerus, resulting in complete cure - a rare case with few reported instances worldwide • The transplant team at For
Slide 13: Augmenting Medical Programs
AUGMENTING MEDICAL PROGRAMS ➢ FMRI Gurgaon, introduced South Asia’s first Gamma Knife Espirit radiosurgery equipment for neurosurgical treatment. Gamma Knife employs non-surgical computer guided precision to target brain tumors, both malignant and benign tumors. ➢ Fortis Nagarbhavi, Bengaluru, expan
Slide 14: Q1FY25 Performance Highlights
Q1FY25 PERFORMANCE HIGHLIGHTS 8
Slide 15: Q1FY25 Snapshot
Q1FY25 SNAPSHOT Consolidated Revenue Consolidated Op EBITDA Consolidated PBT1 1,859 Crores 343 Crores 230 Crores (18.4% Margin) 12.2% 25.5% 35.8% Consolidated PAT1 Net Debt / (Cash)3 Net Debt to EBITDA2,3 174 Crores 308 Crores 0.22x vs 0.35x 41.9% 1. Excluding exceptional items 2. Basis Q1 FY25 annu
Slide 16: Q1FY25 Snapshot
Q1FY25 SNAPSHOT ➢ Hospital business revenues grew 14.4% to INR 1,549 Cr versus INR 1,354 Cr in Q1FY24 ➢ Hospital Business Operating EBITDA stood at INR 287 Cr, up 39.0%; while operating margin was at 18.5% versus 15.2% in Q1FY24 ➢ Q1FY25 hospital business ARPOB was at INR 2.41 Cr per annum vs INR 2.
Slide 17: Consolidated Earnings Summary – Q1 FY25
CONSOLIDATED EARNINGS SUMMARY – Q1 FY25 All figures in INR Cr Revenue Op EBITDA & Margin 1,859 380 1,786 343 273 1,657 21.3% 18.4% 16.5% Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25 Up 12.2% Up 25.5% PBT before Exceptional Items PAT* 268 230 200 169 174.0 122 Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25 U
Slide 18: Consolidated Earnings Summary
CONSOLIDATED EARNINGS SUMMARY All figures in INR Cr Consolidated Revenue 1,859 1,770 1,786 1,680 1,657 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Op EBITDA Margin Op EBITDA PBT (before Exceptional items) 380 18.6% 16.5% 330 16.9% 343 284 21.3% 273 18.4% 268 229 230 169 175 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25
Slide 19: Hospital Business Highlights
Q1FY25 HOSPITAL BUSINESS HIGHLIGHTS Key Performance Indicators • Occupancy was at 67%, compared to 64% in Q1FY24. Overall Occupancy Occupied beds increased to 2,715 compared to 2,595 in Q1FY24, 66% 67% a growth of 4.6%. 64% • Revenue from focus specialties comprising Oncology, Gastroenterology, Neur
Slide 20: Diagnostic Business Highlights
Q1FY25 DIAGNOSTIC BUSINESS HIGHLIGHTS • Agilus reported revenue of INR 343.5 Cr in Q1FY25 as compared to INR 342.7 Cr in Q1FY24. • Operating EBITDA stood at INR 55.4 Cr versus INR 66.4 Cr in Q1FY24 (16.1% versus 19.4% EBITDA margin) and versus INR 47.2 Cr in Q4FY24 (14.0% margin). • Operating EBITDA
Slide 21: Operating Performance: Hospital Business
OPERATING PERFORMANCE HOSPITAL BUSINESS Hospital Business Particulars (INR Cr) Q1FY24 Q4FY24 Q1FY25 Operating Revenue 1,354 1,490 1,549 Revenue Growth vs LY 13.6% 10.3% 14.4% Reported EBITDA 208 339 295 EBITDA growth vs LY 0.2% 47.5% 41.9% Margin 15.4% 22.8% 19.1% Adj: Other Income^ 2 6 8 Operating
Slide 22: Operating Performance: Diagnostic Business
OPERATING PERFORMANCE DIAGNOSTIC BUSINESS Diagnostic Business Particulars (INR Cr) Q1FY24 Q4FY24 Q1FY25 Operating Revenue 343 338 343 Revenue Growth vs LY 3.0% 1.9% 0.2% Reported EBITDA 72 52 60 EBITDA growth vs LY 13.2% (5.7%) (16.8%) Margin 21.2% 15.2% 17.6% Adj: Other Income incl FX 6 4 5 Operati
Slide 23: Balance Sheet (Consolidated)
BALANCE SHEET (CONSOLIDATED) June 30, 2024 Balance Sheet (INR Cr) June 30, 2023 March 31, 2024 June 30, 2024 Shareholder’s Equity 8,402 8,556 8,615 Debt 759 859 866 Lease Liabilities (Ind AS 116)* 268 297 298 Total Capital Employed 9,429 9,711 9,779 Net Fixed Assets (including intangibles & CWIP) 5,
Slide 24: Performance Review: Hospitals Business
PERFORMANCE REVIEW HOSPITALS BUSINESS 18
Slide 25: Revenue Mix
REVENUE MIX Q1 FY24 Q4 FY24 Q1 FY25 Gross Revenue : INR 1,423 CR Gross Revenue : INR 1,567 CR Gross Revenue : INR 1,633 CR 39% 43% 39% 61% 57% 61% Non Surgical Revenue Surgical Revenue 19
Slide 26: Specialty Mix
SPECIALTY MIX Q1 FY24 Q1 FY25 Other Operating Other Operating Revenue, 1.2% Revenue, 1.8% OPD, 14.3% OPD, 13.6% Cardiac, Cardiac, 17.7% 17.3% Other IPD, Other IPD, 15.8% Ortho, 10.1% 15.6% Ortho, 9.9% Renal, 7.2% Renal, 7.0% Gynae, 3.6% Gynae, 3.3% Pulmo, 2.4% Pulmo, 2.5% Neuro, 8.2% Neuro, 8.8% Onc
Slide 27: Payor Mix
PAYOR MIX Q1 FY24 Q1 FY25 ESI, 0.0% ESI, 0.0% TPAs, 35.1% TPAs, 36.1% Cash : Cash : Domestic, Domestic, 36.0% 34.3% Pvt Corps, 0.8% Pvt Corps, 1.0% Govt & International , International , PSUs, 9.2% 8.0% Govt & 7.8% CGHS, 4.0% ECHS, 6.9% PSUs, 8.5% ECHS, 7.7% CGHS, 4.7% 21
Slide 28: Hospital Business Performance – Q1FY25
HOSPITAL BUSINESS PERFORMANCE – Q1FY25 All the key healthcare facilities continue to witness a YoY upward momentum in revenues* Revenue Q1FY24 Q1FY25 233 203 198 166 All figures in INR Cr. 145 134 141 118 117 120 115 106 116 97 82 67 61 58 47 55 FMRI Mohali BG Road Noida Shalimar Bagh FEHI Mulund An
Slide 29: Hospital Margin Matrix
HOSPITAL MARGIN MATRIX EBITDA No of Facilities Revenue Contribution Operational beds ARPOB (INR Cr) Occupancy 20%-25%^ 8 69.2% 2302 2.77 71% Q1FY25* 15% - 20% 5 11.6% 699 1.46 74% 10% - 15% 1 0.6% 46 1.55 59% <10% 7 17.5% 983 2.16 55% EBITDA No of Facilities Revenue Contribution Operational beds ARP
Slide 30: Beds Expansion Update
BEDS EXPANSION UPDATE f | y | | | | | |
Slide 31: Key Ongoing Expansion Projects
Key Ongoing Expansion Projects Manesar Facility (~300 Beds) – Expected operationalization: Phase 1 Q2FY25 Faridabad New Tower (50 Beds) – Expected operationalization H2FY25 Phase 2 H2FY25 Noida New Tower (~145 Beds) – Expected operationalization: Phase 1 H2 FY25 | Phase 2 H1 FY26 FMRI New Tower (220
Slide 32: Performance Review: Diagnostics Business
PERFORMANCE REVIEW DIAGNOSTICS BUSINESS 26
Slide 33: Diagnostics Business
DIAGNOSTICS BUSINESS • During Q1 FY25, Agilus conducted 9.92 Mn tests, versus 9.95 Mn in Q1 FY24 a de-growth of 0.4% primarily due to lower COVID volumes. In Q4 FY24 Agilus conducted 9.61 Mn tests. • Agilus added 185 Customer touchpoints* to its network in Q1 FY25. • Agilus’ B2C: B2B revenue mix sto
Slide 34: Quarterly Key Performance Metrics
QUARTERLY KEY PERFORMANCE METRICS Test (mn) Avg. Realization per test (INR) No of Patients (mn) Avg. Realization per patient (INR) 10.8 355 4.40 880 352 869 10.6 870 350 4.30 10.4 860 4.20 10.2 345 850 4.10 10 344 846 840 340 4.00 9.8 341 340 830 9.6 335 3.90 829 826 820 3.80 822 9.4 334 810 330 9.2
Slide 35: Quarterly Revenue Mix
QUARTERLY REVENUE MIX Geographic mix Product Mix Segment Mix Wellness International3% International , 3% 12% South, North, North B2C, Q1 FY25 South 29% 32% 30% 54% B2B, Routine 46% Specialised 54% 34% West, West East, East 23% 21% 14% 14% International 3% Wellness 10% North B2C, Q1 FY24 South 34% 53
Slide 36: Appendix
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Slide 37: Group Consolidated P&L – Q1FY25
GROUP CONSOLIDATED P&L – Q1FY25 Particulars ( INR Cr) Q1FY24 Q4FY24 Q1FY25 Revenue from operations 1,657.4 1,785.9 1,858.9 Other income 8.1 9.8 13.0 Total income 1,665.5 1,795.7 1,871.9 Expenses 1,384.9 1,404.9 1,516.4 EBITDA* 280.6 390.8 355.5 Margin 16.9% 21.9% 19.1% Finance costs 31.5 34.7 35.3 D
Slide 38: Thank You
THANK YOU 32