Fortis Healthcare Ltd. · NSE:FORTIS
Fortis Healthcare — Q1 FY2013 Earnings Presentation
29 slides from Fortis Healthcare's earnings presentation, August 2012
Slide 1: Fortis Healthcare Investor Presentation – Q1 FY 2013
August 2012 Fortis Healthcare Investor Presentation – Q1 FY 2013
Slide 2: Safe Harbor
Safe Harbor This presentation may not be copied, published, distributed or transmitted. The presentation has been prepared solely by the company. Any reference in this presentation to “Fortis Healthcare Limited” shall mean, collectively, the Company and its subsidiaries. This presentation has been p
Slide 3: Vision for Integrated Healthcare
Vision for Integrated Healthcare Integrated Capabilities and Vision for Global Growth Strategic Vision Vision Leading integrated healthcare services player in Asia Vision for Pacific No. 1 in Asia Integrated Healthcare Key Enablers Fortis partners with a large pool of highly reputed medical talent S
Slide 4: Our Healthcare Businesses across Asia - Pacific
Our Healthcare Businesses across Asia - Pacific 75 Hospitals ~ 23,000 Employees ~ 191 Specialty / Day Care Centers >12,000 Beds >230 Diagnostics Laboratories >4,000 doctors ~ 600 Primary Care centers 4
Slide 5: Discussion Points
Discussion Points Highlights for the Quarter Financial Highlights – Q1 FY2013 India Business Performance International Business Performance Summary 5
Slide 6: Highlights for the quarter
Highlights for the quarter Robust consolidated performance in terms of revenues & operating profitability Continuing momentum and consolidation from trailing quarter in the international business India hospital business continues on its growth trajectory, India diagnostics business witnessed strong
Slide 7: Highlights for the quarter
Highlights for the quarter PE investment in the form of Compulsorily Convertible Preference Shares of Rs 370 Cr by NYLIM Jacob Ballas India Fund III LLC, Mauritius (“NJBIF”) and International Finance Corporation (“IFC”) in SRL India. SRL and Lanka Hospitals (LH) entered into a strategic partnership
Slide 8: Diversified Geographic & Vertical Presence
Diversified Geographic & Vertical Presence Geography wise Revenue Mix Segment wise Revenue Mix Singapore, Vietnam, Dubai, 2% 4% 0.3% Speciality/ Hong Day Care centers, Hospitals, Kong, 16% 42% India, 47% 32% Primary Care, 14% Diagnostic Australia/ s, 13% New Zealand, 28% Q1FY 13 Revenues of Rs 1,409
Slide 9: Group Financial Highlights - Q1 FY13 vs Q1 FY12
Group Financial Highlights - Q1 FY13 vs Q1 FY12 Rs Cr 1,409 1,600 ~3x Consolidated Revenues at Rs 1,409 Cr, + 191%. 1,200 India Business – Rs 669 Cr, + 38% 800 485 400 International Business – Rs 741 Cr 0 Consolidated Operating EBITDA at Rs 180 Cr, +182% Q1FY12 Q1FY13 Consol Revenue India Business –
Slide 10: Group Financial Highlights - Q1 FY13 vs Q4 FY12
Group Financial Highlights - Q1 FY13 vs Q4 FY12 Rs Cr 1,600 1,409 1,279 Consolidated Revenues at Rs 1,409 Cr, + 10%. 1,200 India Business – Rs 669 Cr, + 4% 800 International Business – Rs 741 Cr, +16% Consolidated Operating EBITDA at Rs 180 Cr, +13% 400 Q4 FY12 Q1FY13 Consol Revenue India Business –
Slide 11: Consolidated P&L: Q1 FY13
Consolidated P&L: Q1 FY13 Q1FY13 Q1FY12 Total Consol % Total Consol % Growth Particulars (Rs Cr.) (Rs Cr.) % Operating Revenue 1,409.3 100% 484.8 100% 191% Direct Costs 256.2 18% 131.3 27% 95% Employee Costs 472.8 34% 91.9 19% 414% Other Costs 500.4 36% 198.0 41% 153% Operating EBITDA 179.9 13% 63.7
Slide 12: India – International Business: Q1FY13 vs Q1 FY12
India – International Business: Q1FY13 vs Q1 FY12 Q1FY13 Q1FY12 India International Total India Total India Business Growth Business Business Consol*** Business Consol Particulars Growth (Rs Cr.) (Rs Cr.) (Rs Cr.) (Rs Cr.) (Rs Cr.) % % Operating Revenue 668.6 740.7 1,409.3 484.8 484.8 191% 38% Opera
Slide 13: India – International Business: Q1FY13 vs Q4 FY12
India – International Business: Q1FY13 vs Q4 FY12 Q1FY13 Q4 FY12 India International Total India International Total Growth Business Business Consol*** Business Business Consol Particulars (Rs Cr.) (Rs Cr.) (Rs Cr.) (Rs Cr.) (Rs Cr.) (Rs Cr.) % Operating Revenue 668.6 740.7 1,409.3 641.9 637.2 1279.
Slide 14: Group Consolidated Balance Sheet – 30th June 2012
Group Consolidated Balance Sheet – 30th June 2012 Balance Sheet Rs Crore Shareholder’s Equity* 4,155 Foreign Currency Convertible Bonds (FCCB’s) 557 Preference Capital 1,460 Debt 5,492 Total Capital Employed 11,663 Net Fixed Assets (including CWIP of Rs 621 Crore) 3,403 Goodwill 6,913 Investments 39
Slide 15: India Business Performance – Q1 FY13
India Business Performance – Q1 FY13 15
Slide 16: India Business - Financial Snapshot
India Business - Financial Snapshot Rs Cr 38% Q1FY 13 – Consolidated 800 Operating Revenue - Rs. 669 Cr 38% 669 26% Hospital business -Rs. 532 Cr 26% Diagnostics business -Rs. 137 Cr (Net) 600 532 485 422 Statutory Q1FY12 Q1FY13 Occupancy 70% 72% 400 ARPOB (Annualized - Rs. 87 100 Lacs) ALOS (Days)
Slide 17: India Hospital Business – Continuing growth momentum
India Hospital Business – Continuing growth momentum Operating revenue at Rs 532 Cr, +26% Rs Cr 600 532 24% Operating EBITDA margins at 13.1%. 422 20% 450 Excluding initial start up costs operating EBITDA 16% margins at 15.1% 300 12% 12.9% 13.1% 8% International patient revenues for the quarter 150
Slide 18: India Diagnostics Business – Strong operational performance
India Diagnostics Business – Strong operational performance Rs Cr Operating revenues at Rs 137 Cr 150 122 137 20% 120 16% Operating EBITDA margins expanded 690 bps 90 13.9% 12% from Q4 FY 12 and stood at 13.9% 60 8% 30 7.0% 4% Expanded reach to over 220 labs and > 1200 - 0% collection centers ( 5 ne
Slide 19: India Business – Q1FY13 Consolidated Profit and Loss
India Business – Q1FY13 Consolidated Profit and Loss Q1FY13 Q1FY12 Hospital Diagnostics Hospital Diagnostics Total Consol Total Consol Growth Business Business* Business Business* Particulars (Rs Cr.) (Rs Cr.) (Rs Cr.) (Rs Cr.) (Rs Cr.) (Rs Cr.) % Operating Revenue 531.8 136.7 668.6 422.3 62.5 484.8
Slide 20: No. of Procedures – Q1FY13
No. of Procedures – Q1FY13 Cardiac Ortho +14% 3,421 4,055 +19% 15,908 13,988 1,631 1,377 2391 2047 7,049 8,143 1374 1664 2,937 3,551 2,625 2,583 CTVS & Pediatrics PTCA CAG Others Knee Replacements THR & Others Neuro Dialysis +32% 30,323 23,055 1400 1340 1308 20,000 1350 1300 10,000 1250 - Q1FY2012 Q
Slide 21: Specialty Revenue Split – Q1FY13
Specialty Revenue Split – Q1FY13 QI FY12 QI FY13 OPD & Others, 12% OPD & Others, Cardiac Sciences, 13% Multi-specialties, 38% 21% Cardiac Sciences, Multi-specialties, 37% Pulmonology, 1% 21% Oncology, 4% Gastro, 4% Pulmonology, 1% Ortho, 10% Neuro, 6% Oncology, 4% Gastro, 4% Ortho, 10% Renal, 4% Neu
Slide 22: International Business Performance
International Business Performance 22
Slide 23: International Business Performance - Q1 FY13
International Business Performance - Q1 FY13 Rs Cr International revenues contributed ~52.5 % 800 +36% 741 to overall revenues. 600 544 Consistent uptrend in revenue and EBITDA 400 margins for all businesses 200 Operational performance .i.e. EBITDA 0 Q1FY12 Q1FY13 margins at 12.4% ( 12.3% in Q4 FY12
Slide 24: Dental Corporation, Australia
Dental Corporation, Australia Rs Cr Revenues of Rs 416 Cr with EBITDA margin at 24% 416 18.4% 400 20% 315 300 18.4% 16% Added 5 practices during the quarter 15.1% 12% 200 Total ~178 practices currently 8% 100 4% ~ 550 principal & associated dentists - 0% Established business in Canada ( 7 practices
Slide 25: Quality Healthcare, Hong Kong
Quality Healthcare, Hong Kong Q1 revenues at Rs 230 Cr with 7.3% EBITDA Rs Cr 300 12% margins 230 10% 200 164 8% All key verticals i.e. western medicine ( ~ 85% of 7.3% 6% 6.8% revenues) , diagnostics & imaging and dental 100 4% witnessed buoyant growth 2% - 0% Network Management Strategy in place t
Slide 26: Hoan My, Vietnam
Hoan My, Vietnam Q1 revenues at Rs 60 Cr with 21.5% EBITDA Rs Cr margins 28% Operational performance driven by 60 60 24% standardization of prices across major facilities 20% 37 21.5% & clinics 40 16% 16.1% 12% The new Phan Xich Long facility inaugurated in 20 8% Dec 2011 witnessed a fast ramp up wi
Slide 27: RadLink, Singapore
RadLink, Singapore Q1 FY 13 revenues at Rs 31 Cr with 23.4% Rs Cr EBITDA margin 40 Agreements in place for contracting work 28% 31 25 24% from third party large private and public 30 23.4% 20% hospitals 20 16% Growing business from the non-FDG 17.5% 12% radiopharmaceuticals business 10 8% 4% Increas
Slide 28: Summary
Summary Encouraging start to FY 13 with a robust operational performance Continuing growth momentum in the India hospital business, robust performance from the diagnostics business and an improving international business Diagnostics business in India to witness stronger performance from Q2 FY 13 onw
Slide 29: Thank You
Thank You... 42 Fortis