Med Life SA · BVB:M

Med Life SA — Investor Presentation (2018)

26 slides from Med Life SA's investor presentation, 2018

  1. Slide 1: Investors and Analysts Presentation

    Investors and Analysts Presentation

  2. 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

  3. Slide 3: Contents

    CONTENTS PAGE I. INTRODUCTION TO MEDLIFE ………… 4 A. KEY INVESTMENT HIGHLIGHTS ………… 5 B. HOW WE GREW ………… 6 C. 2018 DEVELOPMENTS ………… 8 D. BUSINESS OVERVIEW ………… 10 II. MARKET OVERVIEW ………… 15 III. GROUP FINANCIAL SNAPSHOT ………… 18 ` M E D L I F E G R O U P I n v e s t o r s a n d A n a l y s t s P r e

  4. Slide 4: I. Introduction to MedLife

    I. INTRODUCTION TO MEDLIFE Founded in 1996, MedLife is the leading private healthcare provider in Romania. The Company operates the widest network of clinics, one of the large networks of medical laboratories, general and specialised hospitals and it has the largest client database for Healthcare Pr

  5. Slide 5: A. Key Investment Highlights

    A. KEY INVESTMENT HIGHLIGHTS  Expected - highest growth of healthcare market in CEE with a 1 Romania – attractive & growing healthcare market CAGR for private healthcare of 9.5% over 2016 – 2021  Pro-Forma Sales 2017: RON 638 mln MedLife - the leading private healthcare operator in 2 Romania  Pro

  6. Slide 6: B. How We Grew

    B. HOW WE GREW 2010 2016 1999 2004 Our own pharmacy chain is launched, PharmaLife MedLife develops a new business division, Stomatology, following the acquisition of DENT ESTET clinics 1996 The first own medical The first hyperclinic in our laboratory portfolio, MedLife Grivița 2010 2015 2006 2007 T

  7. Slide 7: Acquisitions

    MedLife has a successful track record in management of organic growth and acquisitions ORGANIC ACQUISTIONS M E D L I F E G R O U P I n v e s t o r s a n d A n a l y s t s P r e s e n t a t i o n | Page 7

  8. Slide 8: C. 2018 Developments

    C. 2018 DEVELOPMENTS ACQUISITIONS • 100% of the shares in Polisano (approved by the Competition Council in April 2018) - 4 clinics with its own laboratories located in Bucharest and Sibiu - 1 hospital – the European Polisano Hospital located in Sibiu - recognized as one of the most modern and perfor

  9. Slide 9: C. 2018 Developments (Cont.)

    C. 2018 DEVELOPMENTS (Cont.) EXPANSION PLANS • Grivita Hospital (additional 32 beds and 2 surgery rooms) • Obor Hospital (additional 18 beds) • Humanitas Hospital ( additional 11 beds and 1 surgery room) • Turnului Hospital (additional 20 beds) • Additional investments in high margin imagistic servi

  10. Slide 10: D. Business Overview

    D. BUSINESS OVERVIEW HEALTHCARE PREVENTION CLINICS HOSPITALS LABORATORIES PHARMACIES STOMATOLOGY PACKAGES (HPP) Mandatory occupational Outpatient services Maternity, specialist and Full range of tests Prescription, OTC and Wide range of dental health platform. including Imagistics. generalist facili

  11. Slide 11: National Footprint Captures Growth in All Regions

    NATIONAL FOOTPRINT CAPTURES GROWTH IN ALL REGIONS* HYPERCLINICS/CLINICS H O S P I TA L S L A B O R AT O R I E S & S P S 1 1 1 1 1 1 1 1 2 1 1 1 1 1 1 1 2 1 2 3 1 1 1 1 1 1 2 1 2 2 1 6 1 1 1 1 1 4 1 2 18 7 1 2 11 1 1 3 1 1 1 1 1 Legend: Day inpatient Inpatient Legend: Laboratories Sampling Points Leg

  12. Slide 12: Business Segments

    BUSINESS SEGMENTS MEDLIFE: A PIONEER IN LARGE SCALE CLINICS AND LARGE SCALE HIGH-END LAB OPERATION • One stop shop concept - MedLife hyperclinics includes medical ambulatory specialties, providing in one single place: clinical examinations and imaging • Hyperclinics have over 20 medical offices and

  13. Slide 13: Business Segments: Largest Operator of Private Hospitals

    BUSINESS SEGMENTS MEDLIFE: LARGEST OPERATOR OF PRIVATE HOSPITALS* • MedLife hospitals cover a wide range of medical and surgical specializations, reuniting the best medical staff, with significant national and international expertise • 10 hospitals – 7 inpatient hospitals and 3 day inpatient. Life M

  14. Slide 14: Leading Through Innovation and Medical Premieres

    LEADING THROUGH INNOVATION AND MEDICAL PREMIERES  National premiere at MedLife Orthopaedic Hospital: pelvic reconstructive surgery with allograft  Complete ablation of a 7 cm tumors in a 7 year old child in Life Memorial Hospital  National premiere: endoscopic mastectomy in a patient with bilater

  15. Slide 15: II. Market Overview

    II. MARKET OVERVIEW MACROECONOMIC ASPECTS CHANGE OF GDP PER INHABITANT IN PURCHASING POWER STANDARDS (PPS) IN RELATION TO THE EU-28 AVERAGE, 2007-2015 (percentage points difference between 2007 and 2015) Legend Source: Eurostat M E D L I F E G R O U P I n v e s t o r s a n d A n a l y s t s P r e s

  16. Slide 16: Presence in Attractive Market

    PRESENCE IN ATTRACTIVE MARKET MARKET CHARACTERISTICS PRIVATE SECTOR CAPACITY GROWING Private Sector Market Share (%), 2006-2014 97 89 89 % % % • Fastest growing market in CEE 14,271 67 % • Dynamic increase of the private sector market share • Growing number of medical staff in the private sector 5,4

  17. Slide 17: III. Group Financial Snapshot

    III. GROUP FINANCIAL SNAPSHOT KEY CHANGES H1 2018 vs. H1 2017 H1 Sales increased by : + 32.9% Pro forma 2018 vs. IFRS 2017 1 + 24.1% IFRS 2018 vs. IFRS 2017 vs. market increase by approx. 10% + 11.6% like2like EBITDA 2 Stable margin: 12.0% Pro-forma H1 IFRS 2018 vs. 12.1% H1 IFRS 2017 Net value incr

  18. Slide 18: Consolidated Statement of Financial Position and Profit and Loss

    Consolidated Statement of Financial Position Consolidated Statement of Profit and Loss M E D L I F E G R O U P I n v e s t o r s a n d A n a l y s t s P r e s e n t a t i o n | Page 18

  19. Slide 19: Consolidated Statement of Cash Flow

    Consolidated Statement of Cash Flow M E D L I F E G R O U P I n v e s t o r s a n d A n a l y s t s P r e s e n t a t i o n | Page 19

  20. Slide 20: Opex Evolution and Ratio to Sales

    OPEX EVOLUTION AND RATIO TO SALES Note: The Group recorded a 1.3 p.p. increase of operating expenses as % of sales in H1 2018 as compared to H1 2017. A. 0.7 p.p. decrease of “Consumable materials and repair materials” as % of Sales, generated by increased cost synergies and volume discounts obtained

  21. Slide 21: Key Operational Metrics for the 6M Period Ended June 30, 2018

    KEY OPERATIONAL METRICS FOR THE 6M PERIOD ENDED JUNE 30, 2018 M E D L I F E G R O U P I n v e s t o r s a n d A n a l y s t s P r e s e n t a t i o n | Page 21

  22. Slide 22: Sales and Key Operational Metrics Evolution 2015-2018

    SALES AND KEY OPERATIONAL METRICS EVOLUTION 2015-2018 Clinics sales evolution Hospitals sales evolution 180,000,000 166,650,648 1,400,000 140,000,000 100,000 160,000,000 119,106,274 1,200,000 90,000 120,000,000 140,000,000 130,109,363 104,977,229 80,000 1,153,218 Hospitals Sales / Patients 1,000,000

  23. Slide 23: Sales and Key Operational Metrics Evolution 2015-2018

    SALES AND KEY OPERATIONAL METRICS EVOLUTION 2015-2018 Stomatology sales evolution 40,000,000 37,565,681 180,000 35,000,000 160,000 Stomatology Sales / Visits 140,000 30,000,000 120,000 25,000,000 21,432,948 100,000 20,000,000 18,504,217 Sales 99,682 52,334 80,000 Visits 15,000,000 60,000 69,111 10,0

  24. Slide 24: Sales and EBITDA Evolution

    SALES AND EBITDA EVOLUTION CONSISTENT TRACK RECORD OF STRONG GROWTH EBITDA EVOLUTION SALES (RON mln) Pro-forma EBITDA (RON mln) 391 503 623 374 Revenue Distribution by Business Segment 700 10 600 30 38 1 500 24 90.0 30.0% 115 81.7 19 Other revenues 80.0 Sales (RON mln) 1 Pharmacies 69.9 25.0% 400 97

  25. Slide 25: Other Financial Information

    OTHER FINANCIAL INFORMATION ASSET BASE CAPEX NET DEBT TO Pro-Forma EBITDA mln RON mln RON 500.0 458.44 45.0 42.1 450.0 40.0 4.00 400.0 32.1 3.45 3.47 35.0 3.50 3.15 325.9 3.11 3.10 350.0 Tangible assets 304.9 30.0 28.1 27 280.2 3.00 2.64 300.0 CAPEX 25.0 2.50 250.0 20.0 2.00 200.0 150.0 15.0 1.50 10

  26. Slide 26: Thank you!

    Thank you! © Med Life

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