Mlp Saglik Hizmetleri As Class B · BIST:MPARK
Mlp Saglik Hizmetleri As Class B — MLP Care — Q1 2024 Earnings Presentation
22 slides from Mlp Saglik Hizmetleri As Class B's earnings presentation, May 29, 2024
Slide 1: MLPCARE Q1 2024 Presentation
MLPCARE Q1 2024 PRESENTATION M a y 2 9 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: Q1 2024 Financials at a Glance
Q1 2024 Financials at a Glance Revenue TL 7,960 m 32% • Strong growth in both top and bottom line • Revenues supported by the private medical insurance EBITDA TL 2,034 m • EBITDA growth on the back of improved operating leverage 53% • Robust FCF due to OCF and lower capex • Net Debt/EBITDA came in a
Slide 5: # of People Top-up Insurance Users Reaches 4.3 m
# of People Top-up Insurance Users Reaches 4.3 m # of People with Insurance in Turkey (in thousand) 2,685 4,322 7,007 2,671 3,604 6,275 Growth (Q1 2023 – Q1 2022) 0.5% 19.9% 11.7% PMI Top-up PMI+Top-up # of People with Top-up Insurance in Turkey (in thousand) 3.2024; 4,322 3.2023; 3,604 4,500 Averag
Slide 6: FMT revenue relies on top-tier healthcare, advanced tech, skilled staff and affordability
FMT revenue relies on top-tier healthcare, advanced tech, skilled staff and affordability Medical Tourism Revenue ( 29 USD m in Q1 2024) TOP 10 FMT Revenue % by Department in Q1 2024 Europe; 26% 12% 12% 8% 6% 6% 6% 4% 4% 3% 3% Pediatric Hematology Pediatric Hematology Cardiology Check Up Hematology
Slide 7: MLP Care Continues to Grow
MLP Care Continues to Grow Liv Hospital DMC MedicalPark İncek Hospital Location: Budapest / Hungary Opening Date: November 2023 Location: Ankara / Türkiye Opening Date: April 2024 Key Statistics 22.0k sqm Key Statistics 154 Bed Capacity 8.0k sqm 7 Operating Theatres 182 Bed Capacity 35 P
Slide 8: Slide 8
Slide 9: Revenue Grows
Revenue Grows Revenue (TLm) 32% 7,960 6,010 Q1 2023 Q1 2024 Denotes growth of Revenue vs. the same period of the last year 9
Slide 10: All Payer Types Continue to Grow
All Payer Types Continue to Grow Q1 2024 77% 31% 1% 3% 11% 13% Revenue from SSI was up by 31% (SSI Insurance allows for a wide addressable market, which is c.98% of the total population) Self pay was up by 25% Revenue from PMI, Top-up & Contracted 28% Institutions was up by 47% Medical Touri
Slide 11: Continued Improvement in Average Prices
Continued Improvement in Average Prices Outpatient Revenues (TLm) Inpatient Revenues (TLm) 39.7% 34.0% 26.6% 15.5% 13.1% 18.5% 607 419 299 500 3,188 3,627 2,282 2,707 Q1 2023 Volume & Mix Price Q1 2024 Q1 2023 Volume & Mix Price Q1 2024 Average Revenue Per Visit (ARPV) Average Revenue Per Protocol (
Slide 12: EBITDA Is Up By 53%
EBITDA Is Up By 53% EBITDA (TLm)1 53.0% 2,034 1,330 Q1 2023 Q1 2024 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 12
Slide 13: 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 22.1% 25.5% Material costs as a % of revenue increased by 12.5% 9.3% 32bps due to rise in drug prices 5.8% 6.6% Doctor costs as a % of r
Slide 14: 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 119.1% 112.4% 752 683 343 322 Q1 2023 Q1 2024 Q1 2023 Q1 2024 Denotes growth of Net Profit and Net Profit Allocated to Equity Holders of the Parent vs. the same period of
Slide 15: Leverage Ratio Improves
Leverage Ratio Improves 4,500 Net Debt (TLm) 4,000 3,500 2,602 3,030 Reduction 110mTL 3,000 0.6x 0.5x Incl. IFRS16 2,500 2,000 Reduction 537mTL 1,500 0.2x 1,000 0.1x Excl. IFRS16 1,130 500 593 - -0.2 2023 Q1 2024 Net Debt (exc. IFRS 16) IFRS 16 Net Debt/EBITDA Net Debt excl. IFRS 16/EBITDA FX risk
Slide 16: Strong Cash Generation
Strong Cash Generation Maintenance Capex (TLm) Total Capex (TLm) OCF/ EBITDA FCF/ EBITDA 2.0% 168.8% 153.1% 3.5% 114.8% 108.3% 1.1% 1.7% 2,244 2,235 2,202 2,035 119 209 84 133 Q1 2023 Q1 2024 Q1 2023 Q1 2024 Q1 2023 Q1 2024 Q1 2023 Q1 2024 % of Revenue % of Revenue % of EBITDA % of EBITDA 16
Slide 17: Q&A
Q&A
Slide 18: Closing Remarks
Closing Remarks MUHARREM USTA CHAIRMAN & CEO
Slide 19: 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 20: Historical Balance Sheet
Historical Balance Sheet Unaudited Audited TLm March 31, 2024 December 31, 2023 Cash and cash equivalents 2,557 3,236 Trade receivables 4,441 4,208 Inventory 1,282 1,239 Short term other assets 969 1,051 Current assets 9,248 9,734 Tangible and intangible fixed assets 9,494 9,618 Right of use assets
Slide 21: Historical P&L Statements
Historical P&L Statements Unaudited Unaudited Change (%) TLm Q1 2024 Q1 2023 Revenues 7,960 6,010 32.5% Cost of service (-) (5,885) (4,513) 30.4% Gross profit 2,076 1,497 38.7% General administration expenses (-) (649) (621) 4.4% Other income from operations 288 82 250.2% Other expenses from operati
Slide 22: EBITDA Reconciliation
EBITDA Reconciliation TLm Q1 2024 Q1 2023 Change Revenue 7,960 6,910 32.5% Cost of service (5,885) (4,513) 30.4% Gross profit 2,076 1,497 38.7% General administrative expenses (-) (649) (621) 4.4% Depreciation and amortization expenses (Cost of service) 564 417 35.2% Depreciation and amortization ex