Med Life SA · BVB:M
Med Life SA — 9M 2021 Earnings Presentation
37 slides from Med Life SA's earnings presentation, Dec 7, 2021
Slide 1: 9m 2021 Financial Results
9m 2021 Financial Results Investors and analysts presentation 7 December, 2021
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 • Sales structure Highlights 9m 2021 2 • Snapshot and key messages 9m2021 • Outlook • Sales and EBITDA evolution 2016-2020 Financial overview • Consolidated Statement of Profit and Loss 3 • • • Consolidated Statement of Finan
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 ecosystem Laboratories Stem Cells Bank Pharmacies 5.5 million 5/ unique patients 1. About us 2. Highlights 2021 3. Financial overview
Slide 6: Introduction to MedLife Medical System
Introduction to MedLife Medical System Founded in 1996, MedLife is the leading private healthcare provider in Romania*. The Company operates the widest network of clinics, one of the largest networks of medical laboratories, mono and multidisciplinary hospitals and it has the largest client database
Slide 7: Private healthcare market
Private healthcare market The private healthcare market was estimated at around 3.1 bn EUR(15 bn RON) turnover in 2020, increasing by 7% as compared to 2019 (14 bn RON). *Pro-forma Consolidated Sales for MedLife Group *Figures publicly reported by competition 7/ 1. About us 2. Highlights 2021 3. Fin
Slide 8: How we grew: Evolution
How we grew Evolution MedLife completed 2 important Pharma First MedLife SGAM, part of Group Societe MedLife expands in transactions: a chain of 6 The second large hyperclinic is Generale, becomes a MedLife Hungary, acquiring pharmacies and a pharma acquisition was MedLife shares are founded – MedLi
Slide 9: How we grew: acquisitions so far
How we grew: 36 acquisitions so far Most significant acquisitions completed include: 1. PDR Group in Brasov ( 83.01% ownership) – multidisciplinary hospital, outpatient units and labs; 2. Genesys Grup in Arad (73% ownership) - multidisciplinary hospital, outpatient units and labs; 3. Sama Medical Ce
Slide 10: MedLife network in Romania and CEE expansion
No. 1 in Romania – CEE expansion Legend: Hospitals Maternities Hyperclinics Hungary Pharmacies Stomatology Centers Laboratories Clinics Romania 10 / 1. About us 2. Highlights 2021 3. Financial overview
Slide 11: MedLife outpatient units
MedLife outpatient units MedLife Clinics Hyperclinics One stop shop concept - MedLife hyperclinics include medical outpatient Stomatology Centers specialties, providing in one single place clinical examinations and imaging. x2 High performance imaging investigations: MedLife Excellence radiology, DE
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 Clinics DENT ESTET by MedLife, the only dental Stomatology network in Romania specialized in Centers orthodontic services by age segments: 14 medical
Slide 13: MedLife Hospitals
MedLife Hospitals The largest network of private hospitals in Romania, with >900 beds MedLife Multidisciplinary Inpatient units Clinics MedLife Genesys Hospital, Arad MedLife PDR Hospital, Brasov Stomatology Lotus Hospital, Ploiești Centers Humanitas Hospital, Cluj Napoca Polisano Hospitals, Sibiu M
Slide 14: MedLife Maternities and Stem Cells Bank
MedLife Maternities and Stem MedLife Grivita Maternity is the first private maternity hospital in Cells Bank Bucharest accredited by UNICEF as Baby-Friendly Hospital MedLife Clinics Polisano Maternity, Sibiu MedLife Genesys Maternity, Arad Stomatology Centers Maternities have birth blocks consisting
Slide 15: MedLife Laboratories
MedLife Laboratories MedLife Hyperclinics The latest laboratory technologies by Abbott. MedLife Clinics Stomatology Centers The largest network of private laboratories in Romania 2 Full range of tests performed from MedLife Excellence standard blood tests to complex genetic Centers analysis Partners
Slide 16: MedLife Pharmacies: PharmaLife
MedLife Pharmacies: MedLife Own laboratory, where clients can Hyperclinics PharmaLife benefit from specific products. MedLife Clinics Stomatology Centers NHIH contracts for free and subsidized prescriptions MedLife Excellence Centers Clickpharm.ro website for online shopping MedLife Hospitals Pharma
Slide 17: Highlights 9m2021
Highlights 9m2021 • Sales structure • Snapshot and key messages 9m2021 • Outlook 2 17 /
Slide 18: MedLife Business lines and Sales Structure
MedLife Business lines and Sales Structure More than 740,000 employees benefiting from MedLife healthcare prevention packages 18 / 1. About us 2. Highlights 2021 3. Financial overview
Slide 19: Source of funding
Source of funding Source of funding by business line 19 / 1. About us 2. Highlights 2021 3. Financial overview
Slide 20: Snapshot
Snapshot ➢ Pro-forma consolidated Sales of RON 1,2 bn in 9m 2021, increase by 56.5% compared to 9m 2020; Reported increase is on one hand due to last year`s crisis, but also due to sustained activity in 2021 on the laboratory segment, clinics - especially on the monitoring of patients with chronic p
Slide 21: Key messages 9m 2021
Key messages 9m 2021 All business lines were on an upward trend in the first 9 months of this year, which indicates both a higher concern of Romanians for prevention services mixed with increased preference of patients for medical services and surgeries performed in private hospitals ➢ Clinics: focu
Slide 22: Key messages 9m 2021 (Cont.)
Key messages 9m 2021 (Cont.) ➢ Corporate: developed dedicated programs for the corporate segment, as employers become more and more concerned about the health of their employees; 6.5% increase in revenue, with a portfolio of subscriptions higher by 4% as compared to 9m 2020 (740k HPP). ➢ Pharmacies:
Slide 23: Operational KPIs – supporting annex for BL evolution and bridge to pro-forma figures
Operational KPIs – supporting annex for BL evolution and bridge to pro-forma figures On a pro-forma basis, Clinics remain the main sales unit of the group, with 27% share of total pro-forma consolidated Sales, followed by Hospitals with 25% (which also reflect NeoLife acquisition) and Laboratories w
Slide 24: Key messages 9m 2021 (Cont.)
Key messages 9m 2021 (Cont.) The M&A and development plan was focused on the area of oncology diagnostic and treatment services and we have recently announced the acquisition of two leading medical centers in this field: Neolife Medical Center (RON 92m Sales in 2020) and OncoCard Brasov (RON 56.4m S
Slide 25: Key messages 9m 2021 (Cont.)
Key messages 9m 2021 (Cont.) 1) Neolife Medical Center Bucharest (Baneasa) (2014): mainly equipped with two highly competitive accelerators for Radiotherapy and Radiosurgery, a Brachytherapy system, a strong Nuclear Medicine department (PET-CT and Scintigraphy) and a high-performance Chemotherapy se
Slide 26: Outlook for the end of 2021
Outlook for the end of 2021 ➢ Pro-forma consolidated turnover of over one third of a billion euros ➢ Continue the M&A program: we are in advances discussions for another key transaction, which we hope to announce by the end of this year & plan on another 2-3 M&A transactions. ➢ We have important amb
Slide 27: Financial overview
Financial overview Sales and EBITDA evolution 2016-2020 Consolidated Statement of Profit and Loss 9m 2021 Consolidated Statement of Financial Position 30 September 2021 Consolidated Statement of Cash Flow 9m 2021 Annexes 3 27 /
Slide 28: Sales and EBITDA evolution 2016-2020
Sales and EBITDA evolution 2016-2020 1,213,495 967,380 794,563 623,220 502,987 28 / 1. About us 2. Highlights 2021 3. Financial overview
Slide 29: Sales and EBITDA evolution 2016-2020
Sales and EBITDA evolution 2016-2020 29 / 1. About us 2. Highlights 2021 3. Financial overview
Slide 30: Consolidated Statement of Profit and Loss (1/3)
Consolidated Statement of Profit and Loss (1/3) 30 / 1. About us 2. Highlights 2021 3. Financial overview
Slide 31: Consolidated Statement of Profit and Loss (2/3)
Consolidated Statement of Profit and Loss (2/3) explained 1) 9m 2021 Pro-forma vs. 9m 2020 IFRS ❑ Sales increased by 56.5%, to RON 1.2 bn; ❑ OPEX increased by 52.0%, to RON 1 bn; ❑ Twofold increase in EBIT, to 153.8m RON, leading to 12.7% margin (9.9% same period last year), due to improved financia
Slide 32: Consolidated Statement of Profit and Loss (3/3)
Consolidated Statement of Profit and Loss (3/3) OPEX Evolution Release of 1.5 p.p. in EBITDA margin due to: ➢ Increase in Commodities with 1.9 p.p. of Sales due to consolidation of CED Pharma starting with 1st July and Pharmachem Distributie starting with 1st August; ➢ Increase in Rent with 0.6 p.p.
Slide 33: Consolidated Statement of Financial Position (1/2)
Consolidated Statement of Financial Position (1/2) 33 / 1. About us 2. Highlights 2021 3. Financial overview
Slide 34: Consolidated Statement of Financial Position (2/2)
Consolidated Statement of Financial Position (2/2) Debt position 34 / 1. About us 2. Highlights 2021 3. Financial overview
Slide 35: Consolidated Statement of Cash Flow
Consolidated Statement of Cash Flow Cash flow for the period characterized by good operating performance: 1. 1.5 times increase in net cash from operating activities, to 156m RON; 2. 65% engaged in investing activities: 102m RON; 3. Cash from financing activities of 6.8m RON 35 / 1. About us 2. High
Slide 36: Annexes
Annexes 36 / 1. About us 2. Highlights 2021 3. Financial overview
Slide 37: Annexes
Annexes 37 / 1. About us 2. Highlights 2021 3. Financial overview