Burjeel Holdings Plc · ADX:BURJEEL
Burjeel — Q1 2024 Earnings Presentation
21 slides from Burjeel's earnings presentation, May 2024
Slide 1: Q1 2024 Leading Super-Specialty Healthcare Provider in MENA
May 2024 Q1 2024 Leading Super-Specialty Healthcare Provider in MENA
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Burjeel Holdings PLC None of the Company or its subsidiaries or any of their affiliates or based on publicly available information and non-public advisors make any representation or warranty as to the fairness, information to assist you in making a p
Slide 3: Q1 2024 Highlights
Q1 2024 Highlights Leading Super-Specialty Healthcare Provider in MENA
Slide 4: Q1 2024 Highlights
Q1 2024 Highlights Group Highlights Recent Business Developments Accelerated Patient Footfall Growth in Pre- Revenue AED 1,205m Ramadan Period & Increased Bed Occupancy Patient volume growth in pre-Ramadan period accelerated 11.1% YoY in comparison with Q4 ‘23. Bed occupancy rose by 4 p.p. YoY to 64
Slide 5: Performance Review
Performance Review Leading Super-Specialty Healthcare Provider in MENA
Slide 6: Robust Revenue & EBITDA Growth Across Key Business Segments
Robust Revenue & EBITDA Growth Across Key Business Segments Group revenue, AED m Group EBITDA, AED m Group EBITDA margin YoY (ex-one-offs) YoY 1,205 • The Group delivered continued top-line • Group-level EBITDA ex-one-offs1 grew by +11.1% growth in Q1 ’24 despite YoY slowdown 22.3% 21.6% +7.7% 7.7%
Slide 7: Accelerated Patient Footfall Growth in Pre-Ramadan Period & Increased Bed Occupancy
Accelerated Patient Footfall Growth in Pre- Ramadan Period & Increased Bed Occupancy Group inpatient footfall, k Group outpatient footfall, k % bed occupancy % OP utilization 60% 64% 73% 68% • The Group achieved robust inpatient footfall • Group outpatient footfall and utilization rates in growth in
Slide 8: Burjeel Medical City Performance
Burjeel Medical City Performance Total patients, k Revenue, AED m1 EBITDA, AED m1 % bed occupancy % EBITDA margin 41% 55% 14.4% 15.7% +21.8% 283 +23.5% +32.3% 232 123 99 44 34 Q1'23 Q1'24 Q1'23 Q1'24 Q1'23 Q1'24 Burjeel Medical City is a key driver of our wider ambition and of our ability to deliver
Slide 9: OPEX Investments Set to Drive High-Yield Care, Operational EBITDA Remained Strong
OPEX Investments Set to Drive High-Yield Care, Operational EBITDA Remained Strong Group OPEX breakdown,1 as % of revenue Group EBITDA analysis, AED m % EBITDA margin 22.3% 21.6% 19.5% 78.2% 78.7% YoY 10.5% 8.7% +120 (101) YoY 1.7% 1.8% +7.7% Other (2.9%) 23.2% 25.2% Provision for ECL 260 (14) 242 (1
Slide 10: Free Cash Flow & Operating Cash Flow Performance
Free Cash Flow & Operating Cash Flow Performance Free cash flow,1 AED m Cash flow from operating activities, AED m % FCF conversion2 64% 42% 52% 39% 40% 538 566 497 366 358 328 121 115 93 93 2021 2022 2023 Q1'23 Q1'24 2021 2022 2023 Q1'23 Q1'24 AED m 2021 2022 2023 Q1 '23 Q1 '24 Commentary EBITDA 77
Slide 11: Maintaining a Robust Balance Sheet
Maintaining a Robust Balance Sheet AED m FY 2022 FY 2023 Q1 2024 Debt maturity as of 31 March 2024 Bank balances and cash 150 170 226 Interest-bearing loans and borrowings 1,261 1,164 1,176 252 235 Bank overdrafts – – – Bank debt1 1,261 1,164 1,176 158 152 131 140 Net debt 1,111 994 950 107 2 Lease
Slide 12: Strong Profitability Outlook With Continued Commitment to Dividends
Strong Profitability Outlook With Continued Commitment to Dividends Group net profit analysis, AED m Dividends % net profit margin • Asset-light cash-generative model 11.2% 11.7% 8.7% underpins significant dividend, paying capacity. • Dividend policy: pay cash dividends from 2024 onward, with +120 (
Slide 13: Guidance
Guidance Leading Super-Specialty Healthcare Provider in MENA
Slide 14: Guidance Reiterated
Guidance Reiterated FY 2024 Mid-term (2025-2027) • UAE Medical center: +1 & Day Surgery centers: +2 • UAE Hospital: +1 Expansion • UAE additional beds: +32 • KSA Specialized Day Surgery centers: +2 • KSA PhysioTherabia centers: +26 • KSA PhysioTherabia centers: +30 • Group revenue growth to normaliz
Slide 15: Q&A Appendix
Q&A Appendix Leading Super-Specialty Healthcare Provider in MENA
Slide 16: Business model
1 2 Business 1 Differentiating capabilities model • Level I & II Trauma Center • Centralised Lab Serving all • Level III Tertiary NICU • Neuclear Medicine socio-economic • Physio & Rehab Care • Department of Thalassemia groups • Intraoperative MRI • Advanced Center for Research • Da Vinci Xi robotic
Slide 17: PhysioTherabia – Entering High Potential KSA Market
PhysioTherabia – Entering High Potential KSA Market Highly attractive entry proposition Launched first premier physiotherapy centers 60 + Physical therapy, rehabilitation and wellness centers in 12 KSA cities in a joint venture (50:50) with Leejam Company 17 centers launched PhysioTherabia centers u
Slide 18: Specialized Day Surgery Centers – Disruptive Innovation in Saudi Healthcare Market
Specialized Day Surgery Centers – Disruptive Innovation in Saudi Healthcare Market Strong rationale for expansion in KSA Compelling opportunity to build • Promising macro and demographic trends innovative healthcare proposition in KSA o GDP growth of c.5.5% p.a. o Riyadh's population forecast to dou
Slide 19: Expanding Our UAE Healthcare Infrastructure
Expanding Our UAE Healthcare Infrastructure Launch of 1 hospital, In 2024-2025, the planned launch of one hospital, two day surgery and one medical center will 2 day surgery centers enable the Group to tap into new markets, attract more patients and release hospital utilization capacity for complex
Slide 20: Group & Segment Summary
Group & Segment Summary Group financial summary Segmental financial summary2 AED millions Q1 '24 Q1 '23 AED millions FY22 Q1 '24 FY21 Q1 '23 Revenue 1,205 1,085 Revenue 1,205 1,085 Inventories consumed (304) (252) Hospitals3 1,087 958 Doctors’ and other employees’ salaries (517) (465) Medical Center
Slide 21: Investor Relations
Investor Relations May 2024 Sergei Levitskii Head of Investor Relations sergei.levitskii@burjeelholdings.com T: +971 2 3041 111 ir@burjeelholdings.com F: +971 2 2222 363 M: +971 503802383 PO Box 7400, Abu Dhabi, UAE Investor Calendar Company Website