National Medical Care Co. · TADAWUL:4005
National Medical Care — Q2 2026 Earnings Presentation
22 slides from National Medical Care's earnings presentation, Jul 30, 2026
Slide 1: Investor Presentation
INVESTOR PRESENTATION 30 July 2026 | Riyadh, KSA
Slide 2: Performance Highlights and Strategy
Performance Highlights and Strategy
Slide 3: Operating and Financial Performance Highlights
Operating and Financial Performance Highlights Record 2Q 2026 revenues and net profit, driven by higher patient volumes and recovering GOSI activity, supporting 1H 2026 revenue growth Revenue 1H 2026: SAR 844mn 2Q 2026 +8% YoY +15% year-on-year 456 398 412 405 385 388 373 326 299 297 1Q24 2Q24 3Q24
Slide 4: Optimizing Capacity Utilization and Driving Throughput Efficiency
Optimizing Capacity Utilization and Driving Throughput Efficiency Optimizing capacity utilization and throughput to accommodate volume growth without significant near-term capital investment Leveraging Available Capacity in Existing Facilities Improving Throughput Through ALOS Optimization Malaz Bra
Slide 5: Operational Enhancements – FY2026 Focus
Operational Enhancements – FY2026 Focus Strengthening Care’s market position in KSA’s dynamic healthcare market through capacity optimization, operational excellence, and service innovation Capacity Expansion Service-Line Expansion Payor & Revenue Mix Technology & Cost Efficiency Care Academy & Tale
Slide 6: Operating and Financial Performance
Operating and Financial Performance 1H 2026
Slide 7: Operational Trends
Operational Trends Strong 1H 2026 volume growth, with patient activity accelerating in the second quarter as GOSI referrals recovered and complex procedures resumed, reflecting sustained demand across the network Operational Highlights Inpatients Admissions Quarterly Trend (Admissions) 2Q2026 2Q2025
Slide 8: Income Statement
Income Statement 1H 2026 profitability reflected the temporary seasonal pressures witnessed at the start of the year, while a strong rebound in 2Q 2026 drove margin improvement and record quarterly net profit Income Statement Highlights Net Profit Development (SAR MN) SAR mn 2Q2026 2Q2025 YoY, % 1H2
Slide 9: Revenue Trends
Revenue Trends Solid first-half revenue performance lifted by a strong rebound in GOSI revenue to a record SAR 188 million in 2Q 2026, alongside higher contributions across the Group’s hospitals Revenue Development (SAR MN) Revenue by Business Unit (1H 2026) (%) Revenue by Payer (1H 2026) (%) 6.4% 2
Slide 10: Costs Overview
Costs Overview Higher 1H 2026 costs reflected continued investment in medical talent and increased activity-related spending, while cost trends improved significantly in 2Q 2026 as top-line growth outpaced cost growth, supporting margin recovery across all profitability levels. Total Expenses Breakd
Slide 11: Balance Sheet Highlights
Balance Sheet Highlights Balance sheet growth reflected continued investment in Al Narjis, while higher receivables, in line with increased billings following the recovery in GOSI activity, along with related borrowings, drove the increase in net debt. Balance Sheet Highlights Cash Conversion Cycle1
Slide 12: Receivables Management
Receivables Management Trade receivables increased in 1H 2026 as stronger GOSI activity drove higher billings, with collections expected to materialize in the coming quarters. Trade Receivables1 Developments (SAR MN) +23% 55 1,465 87 149 (5) (7) 1,187 +14% +16% +7% -15% -14% Trade receivables 4Q25 G
Slide 13: Cash Flow Highlights
Cash Flow Highlights Lower operating cash flow primarily reflects higher working capital outflows associated with receivables and inventory levels Cash Flow Highlights Capex Trend (SAR MN) SAR mn 2Q2026 2Q2025 YoY, % 1H2026 1H2025 YoY, % 275 Net Profit before zakat 101 83 +21% 160 178 -10% 240 Non-c
Slide 14: Strategy Refresh Overview
Strategy Refresh Overview 1H 2026
Slide 15: Strategic Expansion - Scaling Capacity and Driving Shareholder Value
Strategic Expansion - Scaling Capacity and Driving Shareholder Value Care Medical’s disciplined expansion strategy targets value-accretive opportunities aligned with long-term returns. Recent acquisitions demonstrate the Group’s execution capabilities, with Al Narjis driving the next phase of growth
Slide 16: Q&A Session
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Slide 17: Appendix
Appendix
Slide 18: Operating Performance Overview (1/2)
Operating Performance Overview1 (1/2) Total Patients Trend (Thousand patients) Surgeries Trend (Thousand surgeries) +17% CAGR +12% CAGR 985 25 639 651 742 20 532 19 19 16 46 207 253 261 299 193 254 339 385 398 427 479 FY21 +20% FY22 +2% FY23 +14% FY24 +33% FY25 FY21 + 19% FY22 + 1% FY23 + 7% FY24 +2
Slide 19: Operating Performance Overview (2/2)
Operating Performance Overview1 (2/2) Bed Capacity Trend Bed Occupancy Trend +16% CAGR 83.5% 77.6% 79.2% 70.8% 68.1% 1,128 1,178 655 655 655 359 349 335 335 335 459 459 320 320 320 320 360 FY21 +0% FY22 +0% FY23 +72% FY24 +4% FY25 FY21 FY22 FY23 FY24 FY25 Rawabi branch Malaz branch Other Inpatient D
Slide 20: Financial Performance Overview
Financial Performance Overview Total Revenue Trend (SAR MN) EBITDA Trend (SAR MN) +17% CAGR +21% CAGR 1,600 465 1,294 377 1,082 918 302 845 243 214 FY21 +9% FY22 +18% FY23 +20% FY24 +24% FY25 FY21 +13% FY22 +24% FY23 +25% FY24 +23% FY25 Net Profit Trend (SAR MN) Margins Trend (%) +24% CAGR 36.8% 318
Slide 21: Contacts
Contacts Institutional investor contact Alia Balbaa Investor Relations and Strategy Director abalbaa@care.med.sa +966-11-418-4488 ext. 322 Investor Relations website https://ir.care.med.sa/
Slide 22: Disclaimer
Disclaimer All information included in this document is for general use only and has not been independently verified, nor does it constitute or form part of any invitation or inducement to engage in any investment activity, nor does it constitute an offer or invitation or recommendation to buy or su
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