Burjeel Holdings Plc · ADX:BURJEEL
Burjeel — FY2023 Earnings Presentation
28 slides from Burjeel's earnings presentation, March 2024
Slide 1: Q4 & FY 2023
March 2024 Q4 & FY 2023 Leading Super-Specialty Healthcare Provider in MENA
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Burjeel Holdings PLC None of the Company or its subsidiaries or any of their affiliates or based on publicly available information and non-public advisors make any representation or warranty as to the fairness, information to assist you in making a p
Slide 3: Contents
Contents 02 03 Performance Strategy Review Execution 01 Financial Highlights 04 Guidance 05 Q&A Appendix
Slide 4: Financial Highlights
01 Financial Highlights Leading Super-Specialty Healthcare Provider in MENA
Slide 5: Financial & Operational Highlights
Financial & Operational Highlights FY 2023 Financial Highlights Recent Operational Highlights Growing Patient Footfall & Ramping Up Revenue AED 4,535m Bed Occupancy Inpatient & outpatient footfall grew by 18% and 8% YoY in 15.6% YoY FY’23, respectively. Bed occupancy rose by 5 p.p to 61% in FY’23. E
Slide 6: Strategy Execution
02 Strategy Execution Leading Super-Specialty Healthcare Provider in MENA
Slide 7: Unique Vision with Multiple Growth Levers
Unique Vision with Multiple Growth Levers Ramp up of Increasing Operational Geographic growth assets patient yield excellence expansion Young asset fleet, Elevate the delivery Centralization Deliver on our KSA entry with growth to be driven of high-value complex care, and digitization and explore su
Slide 8: Super-Specialty Care Offering Driving Patient Yields
Super-Specialty Care Offering Driving Patient Yields Burjeel Holdings – the UAE leader in complex care Super-specialty care offering… …drives high patient yield (AED) Total surgeries Group total ARR growth 19-233 73,000 +37% 26% YoY, FY’23 Complex orthopedic surgeries (Dr. Paley Middle East Clinic)
Slide 9: Robust Talent Investments Powering Innovation & Research Capabilities
Robust Talent Investments Powering Innovation & Research Capabilities Highly skilled and growing talent pool Rare disease +610 Burjeel launched the Center for Research on Rare Blood Doctors Disorders. The center is dedicated to addressing evidence gaps, and overcoming unmet needs 1,556 for patients
Slide 10: Expanding Our UAE Healthcare Infrastructure
Expanding Our UAE Healthcare Infrastructure Launch of 1 hospital, In 2024-2025, the planned launch of one hospital, two day surgery and one medical center will 2 day surgery centers enable the Group to tap into new markets, attract more patients and release hospital utilization capacity for complex
Slide 11: PhysioTherabia – Entering High Potential KSA Market
PhysioTherabia – Entering High Potential KSA Market Highly attractive entry proposition Launched first premier physiotherapy centers 60 + Physical therapy, rehabilitation and wellness centers in 12 KSA cities in a joint venture (50:50) with Leejam Company 12 centers launched PhysioTherabia centers u
Slide 12: Burjeel Day Surgery Center – Ramping-Up KSA Expansion
Burjeel Day Surgery Center – Ramping-Up KSA Expansion Strong fundamental rationale Compelling opportunity to build for ongoing KSA expansion innovative healthcare proposition in KSA • KSA healthcare market is large at USD 55bn (2022) • Launch first 2 Specialized Day Surgery Centers in Riyadh by 2025
Slide 13: Expansion through Asset-Light O&M Contracts
Expansion through Asset-Light O&M Contracts O&M opportunities in the UAE and MENA On-going O&M projects Approach Al Dhannah • Located in the fast-growing industrial hub of Al Ruwais 200,000+ Hospital, within the Western region of the UAE Region Population • Partner with the Ministry of Health, Depar
Slide 14: Performance Review
03 Performance Review Leading Super-Specialty Healthcare Provider in MENA
Slide 15: Robust Top-line Growth & High EBITDA Margin
Robust Top-line Growth & High EBITDA Margin Group revenue growth, AED m Group EBITDA growth, AED m YoY EBITDA margin YoY 1,218 • The Group's hospitals and medical centers 24.7% 25.1% • Hospital EBITDA surged by 19.0% YoY, +11.5% demonstrated robust top-line growth in +13.6% amounting to AED 283 mill
Slide 16: Focus on Growing Inpatient Footfall & Ramping Up Bed Occupancy
Focus on Growing Inpatient Footfall & Ramping Up Bed Occupancy Group inpatient footfall, k Group outpatient footfall, k % bed occupancy % OP utilisation 59% 64% 56% 61% 71% 73% 73% 72% +17.5% • The 17.5% increase in inpatient footfall in FY ‘23 +8.3% • Hospitals experienced an impressive 12.6% drove
Slide 17: Burjeel Medical City Performance
Burjeel Medical City Performance Total patients, k Revenue, AED m1 EBITDA, AED m1 % bed occupancy % EBITDA margin 30% 54% 34% 48% (3.4%) 17.9% 7.4% 15.6% +37.4% +56.2% 1,018 +190.6% 427 158 741 273 +29.7% +35.1% 50 55 124 281 92 216 -7 Q4'22 Q4'23 FY'22 FY'23 Q4'22 Q4'23 FY'22 FY'23 Q4'22 Q4'23 FY'2
Slide 18: High-Growth Asset Mix with Significant Utilization Runway
High-Growth Asset Mix with Significant Utilization Runway Asset maturity split for hospitals1 Burjeel Medical City – significant opportunity to ramp up utilization with superior patient yields 25% Matured FY 2023 Mature Burjeel Hospital, Abu Dhabi High-Growth Burjeel Medical City , Abu Dhabi 1,708 5
Slide 19: Well-Invested Manpower Sets to Drive Margin Expansion
Well-Invested Manpower Sets to Drive Margin Expansion Group OPEX breakdown1, as % of revenue EBITDA growth , AED m % EBITDA margin 24.7% 25.1% 22.4% 22.8% 76.0% 76.7% 78.2% 78.1% 9.1% 10.1% 9.1% +17.7% 10.9% 1.4% 1.7% 1.9% 2.3% Other 1,033 22.3% 23.0% 24.2% 23.8% Provision for ECL 878 +13.6% Invento
Slide 20: Strong Cash Flow Conversion
Strong Cash Flow Conversion Free cash flow1, AED m Cash flow from operating activities, AED m % FCF conversion2 129% 95% 64% 42% 52% 540 538 566 497 447 366 358 311 328 163 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 AED m 2019 2020 2021 2022 2023 Commentary EBITDA 418 470 779 878 1,033 • Impr
Slide 21: Maintaining a Robust Balance Sheet
Maintaining a Robust Balance Sheet AED m FY 2021 FY 2022 FY 2023 Debt maturity as of 31 December 2023 Bank balances and cash 134 150 170 Interest bearing loans and borrowings 3,208 1,261 1,164 252 Bank overdraft 91 – – 228 Bank debt1 3,299 1,261 1,164 Net debt 3,165 1,111 994 152 154 131 140 Lease l
Slide 22: Robust Net Profit Margin to Deliver Healthy Return to Shareholders
Robust Net Profit Margin to Deliver Healthy Return to Shareholders Net profit evolution, AED m Commentary % net profit margin • Asset-light cash generative model (5.2%) (1.3%) 7.0% 9.0% 11.9% 13.7% 14.7% underpins significant dividend paying capacity FY 23 vs FY 22 4Q‘23 vs 4Q‘22 • The Group paid ou
Slide 23: Guidance
04 Guidance Leading Super-Specialty Healthcare Provider in MENA
Slide 24: Guidance
Guidance FY 2024 Mid-term (2025-2027) • UAE Medical center: +1 & Day Surgery centers: +2 • UAE Hospital: +1 Expansion • UAE additional beds: +32 • KSA Specialized Day Surgery centers: +2 • KSA PhysioTherabia centers: +26 • KSA PhysioTherabia centers: +30 • Group revenue growth to gradually normalize
Slide 25: Q&A Appendix
05 Q&A Appendix Leading Super-Specialty Healthcare Provider in MENA
Slide 26: Creating Differentiating Healthcare System
Creating Differentiating Healthcare System Burjeel Medical City Intraoperative MRI One of the largest healthcare Support of neuro-oncology facilities in UAE & GCC surgeries Ambulatory Services Centralised Lab State-of-the-art ambulatory services Total lab automation and a helipad for emergency trans
Slide 27: Group & Segment Summary Q4 & FY 2023
Group & Segment Summary Q4 & FY 2023 Group financial summary Segmental financial summary AED million millions Q4 '22 Q3 '23 Q4 '23 Q3 '22 FY '22 9M '23 FY '23 9M '22 AED millions FY22 Q4 '23 Q4FY21 '22 FY22 FY '23 FY21 FY '22 Revenue 1,218 1,092 4,535 3,924 Revenue 1,218 1,092 4,535 3,924 Hospitals1
Slide 28: Investor Relations
Investor Relations March 2024 Sergei Levitskii Head – Investor Relations sergei.levitskii@burjeelholdings.com T: +971 2 3041 111 ir@burjeelholdings.com F: +971 2 2222 363 M: +971 503802383 PO Box: 7400, Abu Dhabi, UAE Investor Calendar Company Website