Med Life SA · BVB:M
Med Life SA — H1 2020 Earnings Presentation
35 slides from Med Life SA's earnings presentation, Sep 4, 2020
Slide 1: H1 2020 Financial Results
H1 2020 Financial Results Investors and Analysts presentation 3-4 September, 2020 Romania
Slide 2: Legal Disclaimer
Legal Disclaimer This presentation is not, and nothing in it should be construed as, an offer, invitation or recommendation in respect of Med Life SA’s securities, or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy Med Life SA’s securities. Neither this presentat
Slide 3: MedLife at a glance
MedLife at a glance 1. Supportive market environment: expected - highest growth of healthcare market in CEE with a CAGR for private healthcare of 9.6% over 2018 – 2023 2. Leading private healthcare provider in Romania 3. One of the largest players in CEE 4. Balanced and highly synergic business mode
Slide 4: Agenda
About us • MedLife Medical System 1 • • How we grew MedLife network AGENDA • Main events H1 2020 Highlights H1 2020 2 • Key messages H1 2020 • Consolidated Statement of Profit and Loss Financial overview • Operational KPIs 3 • • • OPEX Evolution Consolidated Statement of Financial Position Consolida
Slide 5: Unique Revenue Capture Model - Flow of Referrals Among Business Lines
Unique Revenue Capture Model - Flow of Referrals Among Business Lines Hospitals Hyperclinics Maternities Clinics MedLife Stomatology Medical System Laboratories Stem Cells Bank Pharmacies 5 million 5/ unique patients 1. About us 2. Highlights H1 2020 3. Financial overview
Slide 6: How we grew
How we grew evolution IFC becomes a MedLife shareholder; together MedLife expands in set the grounds for the The first acquisition of a Hungary, acquiring First MedLife first network of private local healthcare provider MedLife shares are Rózsakert Medical clinic is founded hospitals in Romania was
Slide 7: MedLife network in Romania and CEE expansion
No. 1 in Romania – CEE expansion Legend: Hospitals Maternities Hyperclinics Hungary Pharmacies Stomatology Centers Excellence Centers Laboratories Romania Clinics 7/ 1. About us 2. Highlights H1 2020 3. Financial overview
Slide 8: 5 million unique patients and expertise
5 million unique patients 200 36 expertise Laboratories Sampling points 5 million unique patients used MedLife services 22 Hyperclinics 10 Hospitals More than 670,000 employees benefiting from MedLife 12 Stomatology 130 NetLife units healthcare prevention packages centers 56 4 Clinics Maternities 12
Slide 9: Our mission, vision, values that guide our activity
Corporate social Innovation. responsibility. We have a constant focus on Our mission, vision, Everything we do is guided by what is important to people`s lives methods, technology and solutions that will result in better and more efficient medical values that guide our and health. solutions. activit
Slide 10: MedLife Business lines and Sales Structure
MedLife Business lines and Sales Structure MedLife Hyperclinics Stomatology Centers MedLife Excellence Centers MedLife Hospitals MedLife Maternities MedLife Stem Cells Bank MedLife Laboratories PharmaLife 10 / 1. About us 2. Highlights H1 2020 3. Financial overview
Slide 11: MedLife Hyperclinics
MedLife Hyperclinics One stop shop concept - MedLife hyperclinics include medical outpatient specialties, providing in one single place clinical MedLife examinations and imaging. Hyperclinics Stomatology Centers High performance imaging MedLife Excellence investigations: radiology, DEXA (bone Center
Slide 12: Stomatology Centers
Stomatology Centers PRFG technology It allows rapid healing after dental interventions with high degree of complexity, in just a few minutes. MedLife Hyperclinics Stomatology Centers DENT ESTET by MedLife, the only dental network in Romania specialized in orthodontic services by age segments MedLife
Slide 13: MedLife Excellence Centers
MedLife Excellence Centers Medical teams dedicated to various specialties, such as neurosurgery, cardiology, gastroenterology, gynecology, etc. MedLife Brain Team: Neurosurgery MindCare: Psychiatry and Hyperclinics Excellence Center Psychotherapy Excellence Center DermaLife: Dermatology and Aestheti
Slide 14: MedLife Hospitals
MedLife Hospitals The largest network of private hospitals in Romania, with >900 beds MedLife Multidisciplinary Hyperclinics MedLife Genesys Hospital, Arad Life Memorial Hospital, Bucharest Stomatology MedLife Titan Hospital, Bucharest (day inpatient, LMH external Centers unit) MedLife PDR Hospital,
Slide 15: MedLife Maternities
MedLife Maternities MedLife Grivita Maternity is the first private maternity hospital in Bucharest accredited by UNICEF as Baby-Friendly Hospital. MedLife Hyperclinics Polisano Maternity, Sibiu MedLife Genesys Maternity, Arad Stomatology Centers Maternities have birth blocks consisting of natural de
Slide 16: MedLife Stem Cells Bank
MedLife Stem Cells Bank High performance biotechnology laboratory in Romania, for the isolation and storage of MedLife stem cells Hyperclinics Stomatology Centers Stem cells processing and isolation is completely automated, the laboratory risk of MedLife Excellence contamination being removed Center
Slide 17: MedLife Laboratories
MedLife Laboratories The latest laboratory technologies by Abbott. MedLife Hyperclinics Stomatology Centers The largest network of private laboratories in Romania – 36 units in Bucharest and nationwide MedLife Excellence Full range of tests performed from Centers standard blood tests to complex gene
Slide 18: MedLife Pharmacies: PharmaLife
MedLife Pharmacies: PharmaLife Own laboratory, where clients can benefit from specific products. MedLife Hyperclinics Stomatology Centers NHIH contracts for free and subsidized prescriptions MedLife Excellence Centers Clickpharm.ro website for online shopping MedLife Hospitals PharmaLife own laborat
Slide 19: Highlights H1 2020
Highlights H1 2020 • Main events H1 2020 • Key messages H1 2020 1 19 /
Slide 20: Main events H1 2020 (1/5)
Main events H1 2020 (1/5) Covid-19 outbreak The first case of COVID-19 was officially registered on February 26, 2020. Two months of state of emergency between 16th of March – 14th of May, with strict lockdown restrictions and reduced activity in most economic sectors and, especially, targeted restr
Slide 21: Main events H1 2020 (2/5)
Main events H1 2020 (2/5) The activity of the Romanian healthcare system, both public and private, was restricted to emergency services only by Military Ordinances during the state of emergency, with direct impact on traffic in all business lines. Measures were taken by management to limit the negat
Slide 22: Main events H1 2020 (3/5)
Main events H1 2020 (3/5) Developments of H1 2020 The development of the three COVID-19 laboratories, in record time, was one of the important achievements of the group in the first half of 2020. Through these, the company was able to keep MedLife employees safe, to periodically test medical and aux
Slide 23: Main events H1 2020 (4/5)
Main events H1 2020 (4/5) Developments of H1 2020 (cont.) A dynamic activity was also registered in the area of corporate segment. Since the beginning of the COVID-19 pandemic, the company has developed new products to meet the needs in this epidemiological context, has designed special projects tai
Slide 24: Main events H1 2020 (5/5)
Main events H1 2020 (5/5) Outlook for 2020 In the second half of the year, the company intends to continue investing in existing programs, but also to develop new projects and products post - COVID. Further development of MedPark project which already started, bringing together the hospital activiti
Slide 25: Key messages H1 2020
Key messages H1 2020 Pro-forma figures Strong Balance Sheet 803m RON Total Non-current assets solid liquidity position 76m RON Cash and cash equivalents 454.6m RON Pro-forma Sales vs. 468m RON in H1 2019 Resilient financial performance 32m RON operating profit stable vs impact of COVID-19 over traff
Slide 26: Financial overview
Financial overview Consolidated Statement of Profit and Loss Operational KPIs OPEX Evolution Consolidated Statement of Financial Position Consolidated Statement of Cash Flow 2 26 /
Slide 27: Consolidated Statement of Profit and Loss (1/3)
Consolidated Statement of Profit and Loss (1/3) H1 2020 Pro-forma vs. H1 2019 IFRS ❑ Sales decreased by 2.9%, to 454.6m RON ❑ OPEX decreased by 4.4%, to 424.3m RON ❑ EBIT increased by 13.9% to 32m RON, 7.0% margin (6.0%) ❑ EBITDA increased by 10% to 81.3m RON, 17.9% margin (15.8%) ❑ EBITDA before IF
Slide 28: Consolidated Statement of Profit and Loss (2/3)
Consolidated Statement of Profit and Loss (2/3) Operational KPIs Sales for H1 2020 standing at the level of H1 2019 (on IFRS), and decreasing by near 3% vs H1 2019 (Pro-forma) as an effect of: ➢ Acquisitions made subsequent to H1 2019 ➢ strong operating performance in January and February ➢ drop in
Slide 29: Consolidated Statement of Profit and Loss (3/3)
Consolidated Statement of Profit and Loss (3/3) OPEX Evolution 29 / 1. About us 2. Highlights H1 2020 3. Financial overview
Slide 30: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position Net debt to Pro-forma EBITDA ratio 4 3 3.1 3.2 3.3 3.1 3 2 2.6 1 0 2015 2016 2017 2018 2019 H1 2020 30 / 1. About us 2. Highlights H1 2020 3. Financial overview
Slide 31: Consolidated Statement of Cash Flow
Consolidated Statement of Cash Flow Cash flow for the period characterized by controls and saving measures: 1. 64% increase in net cash from operating activities; 2. 23% decrease in cash used in investing activities; 3. 88% increase in net cash used in financing activities. 31 / 1. About us 2. Highl
Slide 32: Annexes
Annexes 32 / 1. About us 2. Highlights H1 2020 3. Financial overview
Slide 33: Annexes
Annexes 33 / 1. About us 2. Highlights H1 2020 3. Financial overview
Slide 34: Annexes
Annexes 34 / 1. About us 2. Highlights H1 2020 3. Financial overview
Slide 35: Annexes
Annexes 35 / 1. About us 2. Highlights H1 2020 3. Financial overview