21 slides from Mlp Saglik Hizmetleri As Class B's earnings presentation, Mar 20, 2024
Slide 1: MLPCARE FY 2023 Presentation
MLPCARE FY 2023 PRESENTATION M a r c h 2 0 th, 2 0 2 4
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: MLP is a Household Name in Turkey
MLP is a Household Name in Turkey 5.2 million patients1 visited MLP Care hospitals in 2023 Awareness Visits What are the first private hospital names that come Which hospitals shown on the screen have you to your mind? ever visited? When you thik about private hospitals, among the Which hosp
Slide 5: 2023 Financials at a Glance
2023 Financials at a Glance Revenue • Strong real growth in revenue (19%), EBITDA (35%) and profit TL 22,449 m before tax (22%) 19% (TAS 29) 85% (w/o TAS 29) • Net profit slightly declined compared to last year due to one-off expenses such as earthquake tax and deferred tax expense related to inflat
Slide 6: # of People Top-up Insurance Users Exceeds 4.1m
# of People Top-up Insurance Users Exceeds 4.1m # of People with Insurance in Turkey (in thousand) 2,853 4,118 6,971 2,671 3,604 6,275 Growth (2023 – 2022) 6.8% 14.3% 11.1% PMI Top-up PMI+Top-up # of People with Top-up Insurance in Turkey (in thousand) 2023; 4,118 2022; 3,604 Average LTM Addition to
Slide 7: FMT Revenue Increases in USD Terms – w/o TAS impact
FMT Revenue Increases in USD Terms – w/o TAS 29 impact Medical Tourism Revenue (USD m) TOP 10 FMT Revenue % by Department in FY 2023 114 106 12% 11% 11% 80 6% 6% 5% 4% 3% 3% 3% General Surgery Brain and Neuro Gynecology and Cardiology Hematology Hematology Medical Oncology Check Up Orthopedics Bioch
Slide 8: MLP Care Expands in Foreign Countries
MLP Care Expands in Foreign Countries Liv Hospital DMC Liv Bona Dea Hospital Location: Budapest / Hungary Location: Baku / Azerbaijan Opening Date: November 2023 Opening Date: July 2022 Key Statistics Key Statistics 22.0k sqm 13.0k sqm 154 Bed Capacity 156 Bed Capacity 7 Operating Theatres
Slide 9: Clear Leader in Private Hospital Provision in Türkiye
Clear Leader in Private Hospital Provision in Türkiye MLP Care network (# of hospitals and locations) National and local leader with a İstanbul Samsun network covering the greatest 9 Kocaeli Ordu Trabzon number of cities 2 2 1 2 39% of beds located in the 1 1 1 Tokat attractive Istanbul market Ç
Slide 10: Slide 10
Slide 11: Financial Highlights
Financial Highlights Revenue (TLm) EBITDA (TLm) Net Income (TLm) %85 %108 %42 %19 %35 %3 22,449 5,784 18,903 4,891 4,748 4,269 2022 2023 2022 2023 2022 2023 Denotes growth / decrease of Revenue, EBITDA, and Net Income vs. the same period of the last year with TAS 29 11 Denotes growth of Revenue, EBI
Slide 12: Prudent Cost Management – TAS 29
Prudent Cost Management – TAS 29 Cost of Service and G&A Expenses as a % of Revenues Cost Saving Measures enables us to reach the favourable EBITDA Margin EBITDA Margin 1.2% Material costs as a % of revenue decreased by 411bps 0.8% due to delayed impact of higher costs on expenses thanks to effect
Slide 13: Leverage Ratio Improves – TAS 29
Leverage Ratio Improves – TAS 29 4,400 Net Debt (TLm) 5.0 3,900 3,400 2,085 2,900 2,261 2,400 1,900 1,400 1,297 900 Reduction 315mTL 982 0.8x 400 0.6x -100 0.0 2022 2023 Net Debt (exc. IFRS 16) IFRS 16 Net Debt/EBITDA 13
Slide 14: Strong Cash Generation – TAS 29
Strong Cash Generation – TAS 29 Maintenance Capex (TLm) Total Capex (TLm) OCF/ EBITDA FCF/ EBITDA 4.5% 106.8% 73.5% 4.0% 9.5% 98.0% 63.5% 6.1% 5,665 4,290 851 902 1,796 4,560 1,330 2,713 2022 2023 2022 2023 2022 2023 2022 2023 % of Revenue % of Revenue % of EBITDA % of EBITDA 14
Slide 15: All Payer Types Continue to Grow
All Payer Types Continue to Grow FY 2023* SSI coverage allows us to reach the 3% majority of Turkish population 14% Self pay increases via premium service 15% offering and elective procedures PMI, Top-up & Contracted Institutions market share grows rapidly on the back of strong growth of top-u
Slide 16: Q&A
Q&A
Slide 17: Closing Remarks
Closing Remarks MUHARREM USTA CHAIRMAN & CEO
Slide 18: 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 19: Historical Balance Sheet
Historical Balance Sheet Audited Audited TLm December 31, 2023 December 31, 2022 Cash and cash equivalents 2,812 1,262 Financial investments -- 353 Trade receivables 3,657 3,010 Inventory 1,077 1,174 Short term other assets 913 1,166 Current assets 8,460 6,965 Tangible and intangible fixed assets 8,
Slide 20: Historical P&L Statements
Historical P&L Statements Audited Audited Change (%) TLm 2023 2022 Revenues 22,449 18,903 %18.8 Cost of service (-) (16,019) (14,016) %14.3 Gross profit 6,430 4,887 %31.6 General administration expenses (-) (2,189) (1,869) %17.1 Other income from operations 953 898 %6.2 Other expenses from operation
Slide 21: EBITDA Reconciliation
EBITDA Reconciliation TLm 2023 2022 Change(%) Revenue 22,449 18,903 18.8% Cost of service (16,019) (14,016) 14.3% Gross profit 6,430 4,887 31.6% General administrative expenses (-) (2,189) (1,869) 17.1% Depreciation and amortization expenses (Cost of service) 1,405 1,120 25.4% Depreciation and amort