Aster Dm Healthcare Ltd. · NSE:ASTERDM
Aster Dm Healthcare — Q2 FY2020 Earnings Presentation
43 slides from Aster Dm Healthcare's earnings presentation, Nov 12, 2019
Slide 1: Cover letter to stock exchanges
12 November 2019 The Secretary The Manager, Listing Department, Listing Department, BSE Limited, The National Stock Exchange of India Ltd 1 1' Floor, Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street, Mumbai 400001 Sandra Kurla Comp lex Scrip Code: 540975 Sandra (East), Mumbai 4000
Slide 2: Investor Presentation – For the quarter ended 30th Sep-2019
Investor Presentation – For the quarter ended 30th Sep-2019 1
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by Aster DM Healthcare Limited (the "Company"), content of which was compiled from sources believed to be reliable for informational purposes only and are based on information regarding the Company and the economic, regulatory, market and other condit
Slide 4: Aster – Snapshot, Evolution and Footprint
Aster – Snapshot, Evolution and Footprint Aster – An Integrated Healthcare Provider Operational and Financial Overview Strategy and Leadership 3
Slide 5: Geographical Footprint
Geographical Footprint Hospitals – 12 GCC Clinics – 108 Pharmacies - 238 Hospitals - 13 Clinics - 8 INDIA United Arab Emirates Kerala Medcare Hospital, Dubai Aster Medcity, Kochi Medcare Orthopaedics and Spine Hospital Aster MIMS, Calicut Aster Hospital Mankhool Aster MIMS, Kottakkal Medcare Women &
Slide 6: Aster DM Healthcare – At a Glance (1/2)
Aster DM Healthcare – At a Glance (1/2) HOSPITALS One of Largest Private CAPACITY BEDS healthcare service providers GCC: 1,101 GCC: 12 4,794 25 India: 3,693 India: 13 operating in Asia (GCC & India) PATIENT VISITS – FY20H1 Present in 9 Countries CLINICS (UAE, Saudi Arabia, Qatar, Oman, ~9.1 mn GCC:
Slide 7: Aster DM Healthcare – At a Glance (2/2)
Aster DM Healthcare – At a Glance (2/2) Revenue - FY20H1 Revenue - FY20H1 India 19% Pharmacies 26% INR ~4,115 Cr Hospitals Clinics 52% GCC 81% 22% EBITDA - FY20H1 EBITDA - FY20H1 Pharmacies India 17% 24% Clinics INR ~338 Cr 23% GCC Hospitals 76% 60% Note: 1. Revenue and EBITDA shown above excludes o
Slide 8: The Aster DM Healthcare Edge
The Aster DM Healthcare Edge Aster DM – A Healthcare Ecosystem • Presence across hospitals, clinics & pharmacies and providing primary, secondary and tertiary/ quaternary care • Strategic and sizeable network of clinics enable patient feeder Differentiated Asset-light Business Model in GCC structure
Slide 9: Aster DM Healthcare - Evolution
Aster DM Healthcare - Evolution Building the foundations New geographies, segments Brand “Aster” was formed, private equity Robust Growth across all segments and and service offerings investment, further expansion geographies; Rapid Expansion in India 1987: Commenced 2003: Expansion to new geography
Slide 10: Robust Growth Over Last 5 Years
ROBUST GROWTH OVER LAST 5 YEARS Inpatient Count (in '000) Outpatient Count (in mn) Aster DM - Revenue from Operations (INR Cr) 8.7 218 7.8 202 7,963 6.7 158 6,721 5.6 4.5 5,931 125 5,250 4.2 104 3.4 85 3,876 2,871 4.0 4.5 106 124 4,115 3,612 - - - - - - - - - - - - FY14 FY15 FY16 FY17 FY18 FY19 FY20
Slide 11: Aster – An Integrated Healthcare Provider
Aster – Snapshot, Evolution and Footprint Aster – An Integrated Healthcare Provider Operational and Financial Overview Strategy and Leadership 10
Slide 12: Aster - An Integrated Healthcare Provider
Aster - An Integrated Healthcare Provider FY19 Operational Information 1,700+ 2,18,000+ Cardiovascular IP Discharges Surgeries ~5.6 mn 14,800+ 500+ Clinic OPD Visits General Bariatric Clinics Surgeries Surgeries $ 1 ₹ 6 0% 1200+ Joint 1,100+ ~ 9.6 mn Replacements Spine Surgeries Pharmacy Visits 9,60
Slide 13: Aster – A Healthcare Ecosystem
Aster – A Healthcare Ecosystem Aster, over 30 years, has created a healthcare eco-system across two geographical regions In GCC region, Aster’s primary care clinics act as the initial touch-points in the patient journey, while pharmacies and hospitals continue the care For complex tertiary car
Slide 14: GCC Healthcare – Unique Traits
GCC Healthcare – Unique Traits Healthcare market in GCC states have developed certain unique traits due to the higher expat Population (mn) and working age population Expat% -> ~80% ~70% ~45% ~30% Prevalence of Primary and Secondary Healthcare Facilities (Private Sector) 32.0 Due to lower % of old
Slide 15: Aster - Awards & Service Excellence
Aster - Awards & Service Excellence JCI Accreditation for 7 Hospitals Padma Shri Award 1 Clinic and 1 diagnostic centre “The Sheikh Khalifa Excellence Award” Medcare Hospital Dubai, Medcare Dr. Azad Moopen, Chairman & (2018) Orthopaedics and Spine Hospitals, Medcare Managing Director – Aster DM Wome
Slide 16: Operational and Financial Overview
Aster – Snapshot, Evolution and Footprint Aster – An Integrated Healthcare Provider Operational and Financial Overview Strategy and Leadership 15
Slide 17: Key Highlights – FY20 Q2 (1/2)
Key Highlights – FY20 Q2 (1/2) Clinical Highlights Aster Hospital Mankhool, Dubai performed 1000 CATH Lab procedures within one year of the lab’s launch First 3-way SWAP transplant was performed in Kerala at Aster MIMS Hospital, Calicut Craniotomy and subtotal excision of brain tumor was perfo
Slide 18: Key Highlights – FY20 Q2 (2/2)
Key Highlights – FY20 Q2(2/2) Operational Highlight Dedicated liver ICU operationalized at Aster Medcity Commencement of O-Arm services at Aster CMI Received NABH Recertification for Nursing Excellence Multi-organ transplant license received for RV hospital– Liver, Kidney, Small Intestine Aw
Slide 19: Revenue and Profitability Snapshot – FY20 Q2
Revenue and Profitability Snapshot – FY20 Q2 Revenue from Operations EBITDA (excl. Other Income) PAT (Post-NCI)5 ₹ 1837 ₹ 2087 ₹ 125 ₹ 174 ₹ 13 ₹ 27 8.3% 1.3% 6.8% 0.7% FY19 Q2 FY20 Q2 FY19 Q2 FY20 Q2 FY19 Q2 FY20 Q2 Constant currency growth of Revenue, EBITDA and Adjusted PAT is ~13%, ~38% and ~1
Slide 20: Revenue and Profitability Snapshot – FY20 H1
Revenue and Profitability Snapshot – FY20 H1 Revenue from Operations EBITDA (excl. Other Income) PAT (Post-NCI) 5 ₹ 3612 ₹ 4115 ₹ 249 ₹ 338 ₹ 25 ₹ 45 1.1% 8.2% 6.9% 0.7% FY19 H1 FY20 H1 FY19 H1 FY20 H1 FY19 H1 FY20 H1 Constant currency growth of Revenue, EBITDA and Adjusted PAT is ~12%, ~33% and ~
Slide 21: Business – Snapshot (1/4)
Business – Snapshot (1/4) GCC INDIA CONSOLIDATED FY19 Q2 FY20 Q2 FY19 Q2 FY20 Q2 FY19 Q2 FY20 Q2 Total Capacity Beds 1048 1,101 3,158 3,693 4,206 4,794 Operational Beds 841 909 2,108 2,606 2,949 3,515 ALOS (Days) 2.0 1.9 3.5 3.6 3.0 3.0 Occupancy3 55% 54% 64% 67% 62% 63% Outpatient Visits ~0.32 mn ~
Slide 22: Business – Snapshot (2/4)
Business – Snapshot (2/4) GCC INDIA CONSOLIDATED FY19 Q2 FY20 Q2 FY19 Q2 FY20 Q2 FY19 Q2 FY20 Q2 Revenue (₹) 1,515 Cr 1,656 Cr 322 Cr 431 Cr 1,837 Cr 2,087 Cr EBITDA (₹) 95 Cr 119 Cr 31 Cr 55 Cr 125 Cr 174 Cr PAT (₹)4 15 Cr 17 Cr (3) Cr 10 Cr 13 Cr 27 Cr Notes: 1. Revenue and EBITDA shown above excl
Slide 23: Business – Snapshot (3/4)
Business – Snapshot (3/4) GCC INDIA CONSOLIDATED FY19 H1 FY20 H1 FY19 H1 FY20 H1 FY19 H1 FY20 h1 Total Capacity Beds 1048 1,101 3,158 3,693 4,206 4,794 Operational Beds 841 909 2,108 2,606 2,949 3,515 ALOS (Days) 2.0 1.9 3.5 3.5 3.0 3.0 Occupancy4 56% 52% 61% 63% 60% 60% Outpatient Visits3 ~0.65 mn
Slide 24: Business – Snapshot (4/4)
Business – Snapshot (4/4) GCC INDIA CONSOLIDATED FY19 H1 FY20 H1 FY19 H1 FY20 H1 FY19 H1 FY20 H1 Revenue (₹) 2,985 Cr 3,314 Cr 627 Cr 802 Cr 3,612 Cr 4,115 Cr EBITDA (₹) 202 Cr 256 Cr 47 Cr 81 Cr 249 Cr 338 Cr PAT (₹)4 39 Cr 46 Cr (14) Cr (1) Cr 25 Cr 45 Cr Notes: 1. Revenue and EBITDA shown above e
Slide 25: Segmental Performance FY20-Q2
Segmental Performance FY20-Q2 Growth % India - Unallocated India - Unallocated GCC GCC GCC GCC FY20 Q2 GCC Clinics Hospitals & & Total GCC Clinics Hospitals & & Total Hospitals Pharmacies Hospitals Pharmacies Clinics Eliminations Clinics Eliminations No. of Business Units (#) 12 108 238 H-13, C-8 NA
Slide 26: Segmental Performance FY20-H1
Segmental Performance FY20-H1 Growth % India - Unallocated India - Unallocated GCC GCC GCC GCC FY20 H1 GCC Clinics Hospitals & & Total GCC Clinics Hospitals & & Total Hospitals Pharmacies Hospitals Pharmacies Clinics Eliminations Clinics Eliminations No. of Business Units (#) 12 108 238 H-13, C-8 NA
Slide 27: Vintage-wise Performance FY20H1
Vintage-wise Performance FY20H1 GCC Hospitals - Revenue (INR Cr) GCC Clinics - Revenue (INR Cr) India Hospitals and Clinics - Consolidated - Revenue (INR Cr)* Revenue (INR Cr) 236 42 355 77 1,401 900 942 4,115 1,165 802 3,761 725 Established Units Ramp-up units Total Established Units Ramp-up units
Slide 28: Hospitals List
Hospitals List Hospitals - GCC Location Commencement/ Bed Operational Owned Capacity Operational Acquisition Year Capacity Beds /Leased Geography Beds Beds Medcare Hospital Dubai, UAE 2007 64 55 Leased Al Raffa Hospital Muscat, Oman 2009 85 72 Leased GCC 1,101 909 Al Raffa Hospital Sohar, Oman 2010
Slide 29: Maturity Wise Hospital Performance – GCC FY20H1
Maturity Wise Hospital Performance – GCC FY20H1 Key Performance indicators Revenue Maturity Hospitals Operational Beds (INR in Crs.) EBITDA ARPOBD Occupancy EBITDA % (INR in Cr.) 17% 28% 32% ₹(2) 0-3 Years 4 ₹ 236 250 ₹ ~168,600 Over 3 83% 72% 59% ₹166 Years 8 ₹ ~168,800 ₹1,165 659 14% 12 ₹ 1,401 90
Slide 30: Maturity Wise Hospital Performance – India FY20H1
Maturity Wise Hospital Performance – India FY20H1 Key Performance indicators Revenue Maturity Hospitals Operational Beds (INR in Crs.) EBITDA ARPOBD Occupancy EBITDA % (INR in Cr.) 10% 13% ₹ (14) 0-3 Years 2 329 ₹ ~23,100 65% ₹ 75 Over 3 90% 87% 63% ₹107 Years 10 ₹ ~27,500 ₹718 2,277 15% 12 ₹ 793 2,
Slide 31: Financial Summary – Profitability Statement (1/2)
Financial Summary – Profitability Statement (1/2) Particulars (INR Cr) FY20 Q1 FY19 Q2 FY20 Q2 Gw% Revenue from operations 2,029 1,837 2,087 14% Material consumption 627 550 616 Doctors cost 465 415 474 Employee cost (excl. doctors) 406 385 428 Other expenses 266 272 294 EBITDAR 264 215 276 28% EBIT
Slide 32: Financial Summary – Profitability Statement (2/2)
Financial Summary – Profitability Statement (2/2) Particulars (INR Cr) FY19H1 FY20H1 Gw% Revenue from operations 3,612 4,115 14% Material consumption 1,102 1,243 Doctors cost 815 939 Employee cost (excl. doctors) 761 833 Other expenses 516 560 EBITDAR 418 540 29% EBITDAR % 11.6% 13.1% Rent 169 202 R
Slide 33: Financial Summary – Balance Sheet & Ratios
Financial Summary – Balance Sheet & Ratios As at Mar 31, As at Sep 30, Particulars (INR Cr) 2019 2019 LIABILITIES Shareholders Equity 3,214 3,009 Minority Interest 466 436 Debt 2,672 2,793 Lease Liabilities - INDAS116 - 2,493 Other current and non-current liabilities 2,584 2,685 Total Liabilities 8,
Slide 34: Financial Summary – INDAS116 Impact FY20-Q2
Financial Summary – INDAS116 Impact FY20-Q2 GCC India Consolidated FY20 Q2 - FY20 Q2 - FY20 Q2 - before before before Particulars (INR Cr) FY19 Q2 INDAS116 INDAS 116 FY20 Q2 FY19 Q2 INDAS116 INDAS 116 FY20 Q2 FY19 Q2 INDAS116 INDAS 116 FY20 Q2 Revenue 1,514.9 1,655.6 - 1,655.6 322.0 431.3 - 431.3 1,
Slide 35: Financial Summary – INDAS116 Impact FY20-H1
Financial Summary – INDAS116 Impact FY20-H1 GCC India Consolidated FY20 H1 - FY20 H1 - FY20 H1 - before before before Particulars (INR Cr) FY19 H1 INDAS116 INDAS 116 FY20 H1 FY19 H1 INDAS116 INDAS 116 FY20 H1 FY19 H1 INDAS116 INDAS 116 FY20 H1 Revenue 2,985.1 3,313.9 3,313.9 626.5 801.6 801.6 3,611.
Slide 36: Pipeline Projects
Pipeline Projects Expected Completion Owned / Hospitals - GCC Location Type Planned Beds Stage Year Leased/O&M Aster Hospital Sonapur, Dubai, UAE Greenfield 41 Q4 FY 2020 Construction Leased Aster Hospital Sharjah, UAE Greenfield 80 Q4 FY 2021 Construction Leased Greenfield Aster Hospital Muscat, Om
Slide 37: Strategy and Leadership
Aster – Snapshot, Evolution and Footprint Aster – An Integrated Healthcare Provider Operational and Financial Overview Strategy and Leadership 36
Slide 38: ADMHL – Strategy & Outlook (1/2)
ADMHL – Strategy & Outlook (1/2) Strengthening of hub and A comprehensive human Scalable systems Strengthening of our medical spoke model in GCC resource strategy utilizing our implementation, tightly tourism network geographical diversity and integrated with catering to future growth operations/mar
Slide 39: ADMHL – Strategy & Outlook (2/2)
ADMHL – Strategy & Outlook (2/2) Profitability growth & brand Building of brand, talent Specialized, asset-light Cost Optimization positioning using product- and capability in KSA – a growth in India mix and technology key market in GCC • Focus on margin expansion through • There is significant dema
Slide 40: India Strategy
India Strategy India is geographically well positioned for Focus on In line with medical tourism focus on large format from the GCC hospitals in Tier 1 derisking states, MENA business – cities – Hospitals region and South- in Tier 1 cities The new National Health Protection Scheme target of 25% East
Slide 41: Aster Leadership Team
Aster Leadership Team Dr. Azad Moopen Dr. Harish Pillai Veneeth Purushotaman Chairman and Managing Director Chief Executive Officer – India Chief Information Officer Alisha Moopen Jobilal M. Vavachan Chief Executive Officer – Chief Executive Officer, Aster Fara Siddiqi GCC Hospitals & Clinics Pharma
Slide 42: Aster Board of Directors
Aster Board of Directors Ravi Prasad Daniel James Dr. Azad Moopen Independent Director Snyder Chairman and Managing Director Independent Director Alisha Moopen M. Madhavan Suresh M. Non-Executive Director Kumar Nambiar Independent Director Independent Director Daniel Robert Biju Varkkey T. J. Wilson
Slide 43: www.asterdmhealthcare.com
www.asterdmhealthcare.com
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