Ramsay Generale De Sante Sa · EURONEXT:GDS
Ramsay Generale De Sante Sa — Ramsay Santé — Investor Presentation (December 2020)
48 slides from Ramsay Generale De Sante Sa's investor presentation, Dec 10, 2020
Slide 1: Ramsay Santé Investor Presentation
RAMSAY SANTÉ INVESTOR PRESENTATION December 2020 ramsaysante.com
Slide 2: Today's presenters
RAMSAY SANTÉ TODAY’S PRESENTERS Pascal ROCHÉ Arnaud JEUDY Group CEO Group CFO & Real-Estate 2 Ramsay Santé – Investor Presentation – December 2020
Slide 3: One of the very rare players benefiting from long-term shareholders
WE ARE ONE OF THE VERY RARE PLAYERS BENEFITING FROM LONG-TERM SHAREHOLDERS SHAREHOLDERS % RAMSAY HEALTH CARE (UK) Limited 52.53 PREDICA 39.62 Subtotal Ramsay Health (UK) Limited / Predica 92.16 Dr. André Attia Group 6.59 Treasury shares 0.02 Other shareholders 1.23 TOTAL 100.0 3 Ramsay Santé – Inves
Slide 4: Table of content
TABLE OF CONTENT I. Ramsay Santé’s leadership position II. Resilient Performance in 2020 III. Positive long-term perspectives 4 Ramsay Santé – Investor Presentation – December 2020
Slide 5: Table of content: leadership position
TABLE OF CONTENT I. Ramsay Santé’s leadership position I. The leader in integrated care in Europe II. Acknowledged trusted partner to the institutionals following our key role in the management of Covid crisis II. Resilient Performance in 2020 III. Positive long-term perspectives 5 Ramsay Santé – In
Slide 6: We are...
WE ARE … Operating in A European Seen as a an institutional health trusted environment company partner with short term with leading during the uncertainties market COVID positions crisis… With a unique In a growing diversified … with an industry with sources of integration of strong funding, Capio a
Slide 7: From leader of private hospitalization in France to leader in integrated care in Europe
BETWEEN 2015 AND 2020, WE HAVE SHIFTED FROM BEING THE LEADER OF PRIVATE HOSPITALIZATION IN FRANCE TO A LEADER IN INTEGRATED CARE IN EUROPE # Nb of care settings Current Project PRIMARY CARE SECONDARY CARE FOLLOW-UP MEDICAL HOME CARE PREVENTION DIAGNOSIS HOSPITAL CARE REHAB CARE CONSULTATION Medicine
Slide 8: Expanded care settings leveraging 4 enablers
INITIALLY FOCUSED ON IN-HOSPITAL BUSINESS, WE HAVE PROGRESSIVELY EXPANDED OUR CARE SETTINGS BY LEVERAGING ESPECIALLY 4 ENABLERS A progressive diversification of our care settings Main enablers Leveraged 1. Our Innovation Mindset 3. Our Scale Activity by type of care settings ~105k Innovation hub
Slide 9: Unique ability to create connections and value between activities in France
IN FRANCE, WE HAVE DEVELOPED A UNIQUE ABILITY TO CREATE STRONG CONNECTIONS AND VALUE BETWEEN OUR ACTIVITIES … To adding value through a joined-up approach From stand alone value creating businesses … to provide integrated pathways MSO Imaging 33 imaging centers 69 facilities €66.2m EBITDAR mar
Slide 10: Leader in France and the Nordic countries
RAMSAY SANTÉ IS THE LEADER IN FRANCE AND IN THE NORDIC COUNTRIES 1. Top private groups, Revenues 2019/2020 in €M Market share within private hospital market based on T2A France Sweden1 Norway Denmark Revenue incl. Revenue incl. ~2,700 21% 28% under Aleris under Aleris ~861 Group revenue Group revenu
Slide 11: Ramsay Santé in 2020
RAMSAY SANTÉ IN 2020 Leading position in our A modern and quality markets A key footprint for HC in Europe focused provider #2 342 facilities €830m CAPEX FY16 – FY20 #1 800 operating rooms 13 robots #2 99% of our facilities in France #1 certified best in class level Not significant 7 m o
Slide 12: Table of content
TABLE OF CONTENT I. Ramsay Santé’s leadership position I. The leader in integrated care in Europe II. Acknowledged trusted partner to the institutionals following our key role in the management of Covid crisis II. Resilient Performance in 2020 III. Positive long-term perspectives 12 Ramsay Santé – I
Slide 13: Leadership role in the Covid crisis
RAMSAY SANTÉ HAS PLAYED A LEADERSHIP ROLE IN THE COVID CRISIS IN THE PRIVATE HOSPITALIZATION SECTOR Major contribution to COVID+ patients care More than 9,000 patients* treated in RS facilities in France… …Allowing the Group to be recognized …And supported by an active as a critical player… media st
Slide 14: Acknowledged as a trusted partner to institutionals and community
IN ALL OUR COUNTRIES, WE HAVE BEEN ACKNOWLEDGED AS A TRUSTED PARTNER TO OUR INSTITUTIONALS AND TO THE COMMUNITY RAMSAY SANTÉ’S STATUS AS VALUED PARTNER A DEDICATED MENTAL HEALTH SUPPORT DISPLAYED IN ALL OFFICIAL STATEMENTS TOWARDS MEDICAL STAFF DURING COVID A STRONG RECOGNITION OF THE INVOLVEMENT DE
Slide 15: Ability to adapt, accelerate roadmap and reinforce synergies
MOREOVER, WE HAVE DEMONSTRATED OUR UNIQUE ABILITY TO ADAPT TO THE CONTEXT, ACCELERATE OUR ROADMAP AND REINFORCE OUR BUSINESS SYNERGIES Strengthening of already closed partnerships, especially on online consultations and online recruitment of medical staff (eg. Doctolib, Medgo, Medaviz) ACCELERATIO
Slide 16: Table of content
TABLE OF CONTENT I. Ramsay Santé’s leadership position II. Resilient Performance in 2020 I. Performance in 2020 II. Q1 FY2021 results III. Positive long-term perspectives 16 Ramsay Santé – Investor Presentation – December 2020
Slide 17: Resilient FY2020 results impacted by Covid
RESILIENT FY2020 RESULTS IMPACTED BY THE COVID CRISIS Chiffre d’affaires Ramsay RamsayFY2018 Santé revenue Santé 2018 – FY20120 – 2020(€m) (m€) Above 4,000 +10.1% 3,746 3,401 +51,7% 2,242 FY 2018 FY 2019 FY2020 FY2020 Budget 17 Ramsay Santé – Investor Presentation – December 2020 FY = Fiscal year (J
Slide 18: Activity impacted by Covid and cancellation of scheduled activities
ACTIVITY HAS BEEN STRONGLY IMPACTED BY THE CONSEQUENCES OF THE COVID CRISIS AND THE CANCELLATION OF ALL SCHEDULED MEDICAL AND SURGICAL ACTIVITIES Former Ramsay Générale de Santé perimeter (constant perimeter, July 2019 – June 2020, #admissions) › Ophthalmology down by › Sharp drop in the number of S
Slide 19: FY2020 performance key indicators (1/2)
FY2020 PERFORMANCE KEY INDICATORS (1/2) REVENUE (€m) EBITDA* (€m) > 390 > 4,000 3,746 3,401 +10.1% 343.2 330.8 +3.7% FY2019 FY2020 FY2020 budget FY2019 FY2020 FY2020 budget On a like-for-like basis, at constant consolidation scope, On a like-for-like basis and at constant exchange rates, revenue
Slide 20: Strong regulatory support to private hospitals during the pandemic
IN FRANCE, A STRONG REGULATORY SUPPORT TO PRIVATE HOSPITAL DURING THE PANDEMIC 1. REVENUE 2. CASH ADVANCES GUARANTEE SCHEME Securing a minimum top line for all Advances on subsequent billings to the social care operators to a level that should security bodies in March 2020 correspond the calendar ye
Slide 21: FY2020 performance key indicators (2/2)
FY2020 PERFORMANCE KEY INDICATORS (2/2) NET DEBT 1 (€m) AV. BILLING DAYS 2 (# days) 20.54 1,641.7 1,209.0 19.19 FY2019 FY2020 FY2019 FY2020 CASH (€m) REAL ESTATE VALUE PORTFOLIO (€m) 538.2 368.5 899 781 As at end June 2019 As at end June 2020 FY2019 FY2020 1 IAS 2017 accounting standards Ramsay Sant
Slide 22: FY2020 cash flow
FY2020 CASH FLOW YTD* Actual, June Acquisition / changes in scope closed in 2020 m€ 2020 Cumulative Divestment of the business asset of the Rosemond clinic EBITDA 546.8 Divestment of our Gien clinic (IFRS 16 accounting standards) Acquisition of the Recouvrance clinic (mental health, France) an
Slide 23: High level of investment to prepare for the future
A HIGH LEVEL OF INVESTMENT IN ORDER TO PREPARE FOR THE FUTURE ILLUSTRATION OF MAJOR CAPEX PROJECTS IN FY2020 FACILITY MEDICAL CAPABILITIES Extension and Merger of Mail & Atlantique Grand Clairval project Scanner in Blomet Creation of a 4th refurbishment of Vert facilities & extension of Intervention
Slide 24: Leverage ratio
LEVERAGE RATIO 4.33 4.30 4.02 3.72* * Including circa €30m of grants aiming to compensate for Covid 19 related costs June 2019 December 2019 June 2020 Proforma June 2020 24 Ramsay Santé – Investor Presentation – December 2020
Slide 25: Table of content
TABLE OF CONTENT I. Ramsay Santé’s leadership position II. Resilient Performance in 2020 I. Performance in 2020 II. Q1 FY2021 results III. Positive long-term perspectives 25 Ramsay Santé – Investor Presentation – December 2020
Slide 26: Q1 FY2021 performance key indicators
Q1 FY2021 PERFORMANCE KEY INDICATORS REVENUE (€m) EBITDA (€m) & margin 918,3 165.5 +66.8% +1.9% 901,1 99.2 18% 11% Q1 19/20 Q1 20/21 Q1 19/20 Q1 20/21 +1,3% at constant scope and exchange rate NET DEBT (€m) 3554.8 3372.5 3218.8 Q1 19/20 FY2020 Q1 20/21 26 Ramsay Santé – Investor Presentation – Dec
Slide 27: Table of content
TABLE OF CONTENT I. Ramsay Santé’s leadership position II. Resilient Performance in 2020 III. Positive long-term perspectives I. A better outlook for private providers II. Strong capabilities now in place through our strategic plan III.Well positioned to embrace the future of the Industry 27 Ramsay
Slide 28: Positive regulatory outlook for private providers in France
IN FRANCE, A REALLY POSITIVE REGULATORY OUTLOOK FOR PRIVATE PROVIDERS MULTI-YEARS VISIBILITY ON TARIFFS A NEW REGULATION MODEL FOR THE HEALTHCARE INDUSTRY WITH Minimum tariffs at +0.2% per year for 2020, 2021, 2022 Enables mid-term planning COMMITMENTS ON BOTH SIDES SINCE FEBRUARY 2020 POSITIVE
Slide 29: Ségur de la Santé: plan to support public and private players
“SÉGUR DE LA SANTÉ” IN FRANCE: A LONG-TERM, MASSIVE AND AMBITIOUS PLAN TO SUPPORT BOTH PUBLIC AND PRIVATE HEALTHCARE PLAYERS • ca. +10% salary increase, translating into a core measure of +€160 monthly salary REINFORCE ATTRACTIVENESS increase for all employees of private hospitals OF WAGES AND CAREE
Slide 30: Digital acceleration and €2bn investment plan opportunity
A CLEAR COMMITMENT TO BUILD ON THE DIGITAL ACCELERATION ENABLED BY THE COVID - €2BN OUT OF THE INVESTMENT PLAN – WHICH REPRESENTS A REAL OPPORTUNITY FOR US Digital health (3 years) €2bn dedicated to 1,4 €2bn accelerate digitalization of the HC sector 2,1 Transformation, renovation and medical equipm
Slide 31: Private hospital providers benefit from a good image
DESPITE LONG-LASTING DOGMATISM, PRIVATE HOSPITAL PROVIDERS NOW BENEFIT FROM A GOOD IMAGE AMONG THE COMMUNITY Private hospitals benefit from a better image than 3 main components are driving the good image from public hospitals in France private hospitals : care accessibility, kindness of the medical
Slide 32: Nordic opportunities for public outsourcing and PHI
IN THE NORDIC COUTRIES, OPPORTUNITIES FOR INCREASED PUBLIC OUTSOURCING AND PHI DUE TO COST PRESSURE AND LOW ACCESSIBILITY IN PUBLIC SECTOR, FUELED BY C-19 MAIN KEY TAKE-AWAYS Sweden Norway Denmark Healthcare spend as % of 10.9 +0.0% 10.5 +4.4% 10 -0.7% Market size & GDP and growth vs 2018 dynamics 1
Slide 33: Table of content
TABLE OF CONTENT I. Ramsay Santé’s leadership position II. Resilient Performance in 2020 III. Positive long-term perspectives I. A better outlook for private providers II. Strong capabilities now in place through our strategic plan III.Well positioned to embrace the future of the Industry 33 Ramsay
Slide 34: Our ambition embedded in strategic plan Let's Do It 2020
OUR AMBITION FOR THE GROUP HAS BEEN EMBEDDED WITHIN OUR STRATEGIC PLAN, LET’S DO IT 2020 Our objectives Our strategic plan Digitalization Optimization Innovation Talents 1 Defend EBITDA 1. Digitize doctor's agenda for patient access 6. Optimize by cluster 7. Launch a cost- 12. Integrate doctors cons
Slide 35: Let's Do It 2020 developed strong capabilities
WITH LET’S DO IT 2020, WE HAVE DEVELOPED STRONG CAPABILITIES AND THUS PAVED THE WAY FOR FURTHER TRANSFORMATION Digitalization Optimization Innovation Talents Ramsay Services, our in Operational excellence Best-in-class in the A strong link to medicine house digital front door, and efficiency embedde
Slide 36: Digitalization: simplified and personalized care
DIGITALIZATION – WE OFFER SIMPLIFIED AND PERSONALIZED CARE WITH DIGITALIZATION SUPPORTING OUR PATHWAYS FOR BOTH PATIENTS AND DOCTORS Post-hospitalization follow-up Online admission & marketing campains Online appointment 3k digital follow-ups / 2020 month 2020 > 40% penetration rate in 2020 2020 40%
Slide 37: Digitalization: Ramsay Services V1 digital front door
DIGITALIZATION – RAMSAY SERVICES V1, OUR IN-HOUSE DIGITAL FRONT DOOR IN FRANCE A UNIQUE TOOL INTEGRATED IN OUR CARE PATHWAY SINCE MAY 2017 KEY BENEFITS 64 MSO facilities and > 600K patients admissions ONLINE REGISTRATION ONLINE SIGNATURE Operational performance PATIENT INFORMATION SATISFACTION Com
Slide 38: Digitalization: telehealth
DIGITALIZATION – TELEHEALTH ENABLES US TO BOTH SUPPORT OUR CARE PATHWAYS AS WELL AS LEVERAGE OUR MEDICAL KNOW-HOW Patients to doctors (e-consultations) SCOPE Doctors to doctors (e-expertise) Type of care Above 30 All care specialties All care specialties Stroke / EDs symptoms MODEL Partnership model
Slide 39: Capio Flow digital platform in Sweden
DIGITALIZATION - IN SWEDEN, A « ONE-WAY-IN » DIGITAL PLATFORM FOR OUR PROXIMITY CARE CENTERS : “CAPIO FLOW” INCREASE ADAPT CARE INCREASE CARE ENHANCE PATIENT REGISTRATION/ SETTING TO NEEDS AVAILABILITY SATISFACTION REDUCE CHURN Waiting time for doctor visit OUR DIGI-PHYSICAL PATIENT PROCESS 90 out o
Slide 40: Optimization: innovation within hospital core business in France
OPTIMIZATION – IN FRANCE, WE HAVE ACTIVELY INNOVATED WITHIN OUR HOSPITAL CORE BUSINESS TO CONSOLIDATE OUR SUSTAINABLE GROWTH DRIVERS The clusterization of our assets to drive efficiency and innovation Active development of outpatient care in France Ambulatory rate Outpatient dedicated facilities +20
Slide 41: Optimization: actively managing our asset portfolio
OPTIMIZATION - ACTIVELY MANAGING OUR ASSET PORTFOLIO HAS BEEN AND WILL BE A MAJOR STRATEGIC FOCUS IN ORDER TO SECURE OUR LEADING POSITION, AND THUS ENABLE US TO INVEST TO FURTHER GROW ACTIVE MANAGEMENT PORTFOLIO & IMPLEMENTATION OF OUR BOLT-ON ACQUISITIONS DIVESTMENT OF NON STRATEGIC CLUSTERIZATION
Slide 42: Table of content
TABLE OF CONTENT I. Ramsay Santé’s leadership position II. Resilient Performance in 2020 III. Positive long-term perspectives I. A better outlook for private providers II. Strong capabilities now in place through our strategic plan III.Well positioned to embrace the future of the Industry 42 Ramsay
Slide 43: Summary of trends
KEY MACRO DYNAMICS SHAPING THE FUTURE OF THE HEALTHCARE INDUSTRY SUMMARY OF TRENDS People are more The ongoing digitization Improvements of Out-of hospital shift health conscious of healthcare technology Using analytics to provide People want on- demand high care Democratization of Shift in the heal
Slide 44: Ageing population and chronic patients pressure public funding
AGEING POPULATION AND GROWING NUMBER OF CHRONIC PATIENTS ARE PUTTING PRESSURE ON PUBLIC FUNDING European population is getting older …making healthcare and sicker… increasingly unaffordable Key takeaways ~30% of the % of total population, EU-27 Healthcare GDP CAGR HC Spend CAGR Ageing population and
Slide 45: Building on enlarged scale after Capio integration
WITH THE INTEGRATION OF CAPIO COMING TO AN END, WE HAVE ALREADY BEEN BUILDING ON OUR ENLARGED SCALE Basis of Scale – Aggregate volume benefit (capture efficiency/volume) Scope – Presence across multiple regions (do it once and benefit in multiple regions) Efficiency from Development of Global Joint
Slide 46: Paving the way for innovative funding models in France
IN FRANCE, WITHIN A FEE-FOR-SERVICES-BASED MODEL, WE ARE PAVING THE WAY FOR NEW INNOVATIVE FUNDING BY LEVERAGING THE SWEDISH MODEL 1. CAPITATION MODEL IN PRIMARY 2. QUALITY- BASED CARE BUNDLED PAYMENT Description : bundled payment (facility / medical staff / FCR / city caregivers) based on clinical,
Slide 47: Leadership position in the primary care market
WE BENEFIT FROM A LEADERSHIP POSITION IN THE PRIMARY CARE MARKET, WITH STRONG UNDERLYING GROWTH DRIVERS, THAT WE INTEND TO BUILD ON MARKETSHARE BY TYPE OF PROVIDER BY COUNTY #1 FOR PRIMARY CARE IN SWEDEN Total 56% 44% # listed patients within Capio’s primary care centers in Sweden 104 units in Swede
Slide 48: A unique integrated health operator in Europe
A UNIQUE INTEGRATED HEALTH OPERATOR IN EUROPE WITH GROWTH AND PROFITABILITY AVENUES MARKET PATIENT QUALITY EFFICIENCY Strong underlying New patients segments Best-in-class in the Best practices organic growth in the to enter into (eg. public Nordics and in France Nordics in Norway, increase