Mlp Saglik Hizmetleri As Class B · BIST:MPARK
Mlp Saglik Hizmetleri As Class B — MLP Care — Q1 2023 Earnings Presentation
23 slides from Mlp Saglik Hizmetleri As Class B's earnings presentation, May 10, 2023
Slide 1: MLPCARE Q1 2023 Presentation
MLPCARE Q1 2023 PRESENTATION M a y 1 0 th, 2 0 2 3
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation may contain certain forward-looking statements concerning MLP Care’s future performance and should be considered as good faith estimates made by the Company. These forward-looking statements reflect management expectations and are based upon currently ava
Slide 3: Muharrem Usta, Chairman & CEO
MUHARREM USTA CHAIRMAN & CEO
Slide 4: At a Glance: MLP Care Q1 2023 Financial Highlights
At a Glance: MLP Care Q1 2023 Financial Highlights Revenue growth exceeding inflation domestic growth driven by average prices and inpatient growth Revenue EBITDA FMT growth decelerated due to the earthquake in February TL 3,474 m TL 814 m 59% Growth 63% Growth EBITDA margin improved mainly
Slide 5: # of People Top-up Insurance Users Reaches 3.3 m
# of People Top-up Insurance Users Reaches 3.3 m # of People with Insurance in Turkey (in thousand) 2,430 3,308 5,737 2,504 2,633 5,138 Growth (Q1 2023 – Q1 2022) (3.0%) 25.6% 11.7% PMI Top-up PMI+Top-up # of People with Top-up Insurance in Turkey (in thousand) 3.2023; 3,308 3.2022; 2,633 Average LT
Slide 6: FMT Revenue Increases in USD Terms
FMT Revenue Increases in USD Terms Medical Tourism Revenue (USD m) TOP 10 FMT Revenue % by Department in Q1 2023 13.9% 12% 11% 27 10% 7% 6% 5% 23 3% 3% 3% 3% Gynecology and Hematology Urology Brain and Neuro General Surgery Cardiology Orthopedics Check Up Medical Oncology Pediatric Hematology Obstet
Slide 7: MLP Care Expands in Adana
MLP Care Expands in Adana Map of Adana Özel Medical Park Seyhan Hospital Özel Medical Park Adana Hospital Location: Seyhan / Adana Location: Seyhan / Adana Opening Date: December 2022 Opening Date: December 2022 Key Statistics Key Statistics 11.0k sqm 13.0k sqm 164 Bed Capacity 158 Bed Capac
Slide 8: Slide 8
Slide 9: Revenue Grows Above Inflation
Revenue Grows Above Inflation Revenue (TLm) 82.5% 3,474 58.8% 2,187 Q1 2022 Q1 2023 Denotes growth of Revenue vs. the same period of the last year 9 Denotes growth of Revenue vs. the same period of the last year excluding Sentez
Slide 10: All Payer Types Continue to Grow
All Payer Types Continue to Grow Q1 2023 (7%) 4% 54% 2% 14% 14% Revenue from SSI was up by 4% (SSI Insurance allows for a wide addressable market, which is c.98% of the total population) Self pay was up by 63% Revenue from PMI, Top-up & Contracted Institutions was up by 95% 30% Medical Touri
Slide 11: All Revenue Segments Continue to Grow
All Revenue Segments Continue to Grow Domestic Patient Medical Tourism Ancillary Business Revenue Revenue 63.1% 54.2% 2,888 (7.3%) 502 1,771 325 91 84 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Domestic Revenue Grew Above Growth of Foreign Medical Managed Hospitals’ Revenues Inflation in Q1 202
Slide 12: Continued Improvement in Average Prices
Continued Improvement in Average Prices Outpatient Revenues (TLm) Inpatient Revenues (TLm) 71.4% 56.7% 80.1% 34.4% (8.7%) 22.3% 344 617 67 223 1,321 1,567 770 1,000 Q1 2022 Volume & Mix Price Q1 2023 Q1 2022 Volume & Mix Price Q1 2023 Average Revenue Per Visit (ARPV) Average Revenue Per Protocol (AR
Slide 13: EBITDA Is Up By 63%
EBITDA Is Up By 63% EBITDA (TLm)1 87.6% 814 62.6% 501 Q1 2022 Q1 2023 1 EBITDA and EBITDA margin calculated by deducting general administrative expenses from gross profit and adding depreciation and amortization expenses Denotes growth of EBITDA vs. the same period of the last year Denotes growth of
Slide 14: Prudent Cost Management
Prudent Cost Management Cost of Service and G&A Expenses as a % of Revenues Cost Saving Measures enables us to reach the favourable EBITDA Margin EBITDA Margin 22.9% 23.4% Material costs as a % of revenue decreased in Q1 2023 0.9% due to the lagging effect of increased costs on the back 0.7% of ef
Slide 15: Bottom Line Improves on The Back of Strong Operations
Bottom Line Improves on The Back of Strong Operations Net Profit (TLm) Net Profit (TLm) Allocated to Equity Holders of the Parent 67.2% 29.1% 44.0% 258 245 200 170 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Denotes growth of Net Profit and Net Profit Allocated to Equity Holders of the Parent vs. the same perio
Slide 16: Leverage Ratio is Flat
Leverage Ratio is Flat 3000.0 Net Debt (TLm) 2500.0 2,449 2000.0 2,069 2,053 05 1500.0 1000.0 1,176 Reduction 389mTL 787 500.0 1.5x Reduction 140mTL 647 0.9x 0.9x - 00 2021 2022 Q1 2023 Net Debt (exc. IFRS 16) IFRS 16 Net Debt/EBITDA FX risk of balance sheet completely mitigated in 2021. 16
Slide 17: Strong Cash Generation
Strong Cash Generation Total Capex (TLm) Working Capital FCF/ EBITDA 2.5% 58.1% 4.8% 3.5% (1.9%) 50.8% 473 120 (217) 105 170 254 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 2023 % of Revenue % of Revenue % of EBITDA Maintenance Capex as a Producing Working Capital surplus Free Cash Flow improve
Slide 18: Q&A
Q&A
Slide 19: Closing Remarks
Closing Remarks MUHARREM USTA CHAIRMAN & CEO
Slide 20: Thank You!
Thank You! MLP Care Investor Relations Deniz Can Yücel +90 212 227 5555 (Ext: 1148) deniz.yucel@mlpcare.com http://investor.mlpcare.com/en/
Slide 21: Historical Balance Sheet
Historical Balance Sheet Unaudited Audited TLm March 31, 2023 December 31, 2022 Cash and cash equivalents 937 766 Financial investments 267 214 Trade receivables 1,708 1,455 Inventory 651 661 Short term other assets 734 701 Current assets 4,297 3,798 Tangible and intangible fixed assets 2,400 2,368
Slide 22: Historical P&L Statements
Historical P&L Statements Unaudited Unaudited Change (%) TLm Q1 2023 Q1 2022 Revenues 3,474 2,187 58.8% Cost of service (-) (2,490) (1,596) 56.0% Gross profit 984 591 66.5% General administration expenses (-) (349) (198) 76.2% Other income from operations 48 115 (58.8%) Other expenses from operation
Slide 23: EBITDA Reconciliation
EBITDA Reconciliation TLm Q1 2023 Q1 2022 Change Revenue 3,474 2,187 58.8% Cost of service (2,490) (1,596) 56.0% Gross profit 984 591 66.5% General administrative expenses (-) (349) (198) 76.2% Depreciation and amortization expenses (Cost of service) 167 101 65.9% Depreciation and amortization expen