FY2019 Results Presentation Ma May 2020 2020
Contents: • FY2019 Results • COVID-19 Response Measures • Growth Strategies • Expanding Customer Reach • “ Wayak ” Investment • Al Borg Scan Updates • Nigeria Updates • Appendix 2 INTEGRATED DIAGNOSTICS HOLDINGS
Results Snapshot Resilient financial and operational performance with revenues up 16% y-o-y in 2019 Revenue Split EGP 2,226 mn EGP 1,084 mn Revenue in FY 2019 Gross Profit in FY 2019 ▲ 16 ▲ 14% y-o-y / 49% margin 16% y-o-y IDH revenue by geography IDH revenue by type (FY2019) (FY2019) EGP 945 mn EGP 505 mn EBITDA in FY 2019 Net Profit in FY 2019 ▲ 24% y-o-y / 42% margin ▲ 2% y-o-y / 23% margin 1.7% 11.5% 1.4% 40.2% EGP 73 452 Operational branch labs in FY 2019 Average revenue per test in FY 2019 59.8% ▲ 9% y-o-y ▲ 34 branches 85.5% 30.5 mn 7.5 mn Walk-in Corporate Egypt Sudan Jordan Nigeria Tests completed in FY 2019 Patients served in FY 2019 ▲ 6% y-o-y ▲ 6% y-o-y 3 INTEGRATED DIAGNOSTICS HOLDINGS
Revenue Growth Drivers Revenue growth in FY2019 was supported by improved average pricing and higher patient and test volumes. Revenue Growth Dr Drivers s | | EGP mn mn, % +16% ( 0.1 1 ) 14 14 2 2 2,226 226 276 6 12 12 1,921 921 FY201 FY 018 Egypt pt witho hout BG- G-Scan an BG-Scan an Jorda Jo dan Sud udan an Nige geria FY FY201 019 Egy Egypt was as the pr primary dr driver of of gr growth du during the he year, Egypt’s performance was buoyed by the ramp up of operations at recording an 18% year-on-year increase in revenue to EGP 1,903 the ne new Al Al Bor org Sc Scan branch which contributed c.4.3% to million in 2019. Egypt’s total revenue growth for the year. Strong im St improvement in in Nig igeria, Jordan and and Sud Sudan in local Top-line growth for the year was supported by revenue gr growth currency term with growth in EGP impacted by strong at both the company’s walk in (+15% y-o-y) and contract appreciation of EGP over the last year. segments (+17% y-o-y). 4 INTEGRATED DIAGNOSTICS HOLDINGS
Segment Performance Revenue mix skewed toward the contract segment due to higher campaign-related volumes Contr tract Se Segment Walk-In Se Segment Tota otal FY2018 Y2018 FY2019 Y2019 Chan ange FY2018 Y2018 FY2019 Y2019 Chan ange FY2018 Y2018 FY2019 Y2019 Chan ange Revenue (EGP ‘000) 1,141,483 1,331,160 17% 779,969 894,703 15% 1,921,452 2,225,863 16% 59% 60% 41% 40% % of Revenu enue Patien ents s ('00 000) 0) 5,078 5,433 7% 1,970 2,048 4% 7,048 7,481 6% % of Patient ents 72% 73% 28% 27% 225 245 9% 396 437 10% 273 298 9% Revenu enue per Patient ent (EGP) P) Test ests s ('000 '000) 22,206 23,553 6% 6,560 6,918 5% 28,766 30,471 6% % of Test sts 77% 77% 23% 23% 51 57 10% 119 129 9% 67 73 9% Revenu enue per Test st (EGP) P) Test est per Patient ent 4.4 4.3 (1%) 3.3 3.4 1% 4.1 4.1 - EGP 57 EGP 129 23.6 mn EGP 1,331.2 mn 6.9 mn EGP 894.7 mn Avg. rev / contract test in Avg. rev / walk-in test in Contract tests in FY2019 Contract revenue in FY2019 Walk-in tests in FY2019 Walk-in revenue in FY2019 FY2019 FY2019 ▲ 6% y-o-y ▲ 17% y-o-y / 60% cont. ▲ 5% y-o-y ▲ 15% y-o-y / 40% cont. ▲ 10% y-o-y ▲ 9% y-o-y Note: All figures for FY19 exclude Wayak 5 INTEGRATED DIAGNOSTICS HOLDINGS
A Focus on the 100 Million Healthy Lives Campaign The campaign was launched in November 2018 and ended in June 2019, and has directly benefited our business by increasing awareness and driving up our tests per patient ratio IDH FY2019 Patient Volumes | ‘000 IDH FY2019 Tests per Patient | ‘000 +6% 4.1 4.1 7,048 7,481 Increased awareness The awareness 224 186 about the importance campaign add added 22 224 4 10.7 of diagnostic testing 10.9 thousand pa patients s to o 7,258 +6% 6,862 helped bo he boost the IDH’s contract segment Group’s average tests 3.9 3.9 in FY2019 per pa pe patient FY2 Y2018 FY2 Y2019 FY2 Y2018 FY2 Y2019 Patients Campaign Patients Test / Patient Campaign Diiferential IDH DH FY FY20 2019 Av Average Rev Revenue pe per Test | | EG EGP IDH DH FY20 FY2019 Rev Revenues | | EG EGP mn +9% +16% Average revenue per The awareness 2,226 73 73 67 67 test increased by 9% campaign con ontributed 47 1,921 year-on-year. Fac actoring 19 EGP 47 million to IDH’s 18 37 ou out the cam ampai aign, top-line in FY2019, +16% 2,179 1,885 78 average revenue pe per 70 compared to the EGP +10% tes est would inc increase 37 million contributed 10 10% % in FY2019. in FY2018. FY2 Y2018 FY2 Y2019 FY2 Y2018 FY2 Y2019 Revenue / Test Campaign Differential Revenue Campaign Revenue 6 INTEGRATED DIAGNOSTICS HOLDINGS
A Ramp-up of Operations at Al Borg Scan Al Al Borg Sc Scan Revenue Progress ssion | | EGP mn 1.53 1.45 1.39 1.37 1.37 1.18 1.13 1.08 1.06 0.94 0.90 0.84 0.80 0.70 0.34 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 EGP 1.8 mn EGP 14 mn +27 k EGP 523 EBITDA in FY2019 Revenue in FY2019 Tests in FY2019 Revenue / Test in FY2019 (13% margin) Al- Borg Scan has achieved management’s targets for rap apid gr growth in in the he top lin line and and in in EBI EBITDA-level pr profi fitability. The addition of Al Borg Scan’s new branch in Cairo, which launched in February 2020, will bring the company’s total investment cost to date to EGP 79 million. 7 INTEGRATED DIAGNOSTICS HOLDINGS
Regional Performance Strong growth led by Egypt; Sudan and Jordan deliver solid EBITDA improvements Revenues | EGP P mn mn EB EBITDA* | EGP mn mn / % +18% +19% Strong revenue gr St growth was EGYP YPT supported by favourable pricing, 1,90 903 877 77 85.5% 1,61 613 higher test volumes and by the 738 38 EGP 1,90 1,903 3 mn ramp up of operations at new Al 46% 46% 39 399 9 Branches Borg Scan branch. FY2018 FY2019 FY2018 FY2019 +6% +74% JORD RDAN St Strengthening pe performance in in Jor ordan supported by rising 90 90 52 52 11.5% 257 57 EGP 25 257 7 mn consumer confidence following a 242 42 21% 35% 19 19 Branches period of austerity measures. FY2018 FY2019 FY2018 FY2019 +4% N/A SU SUDAN In n SDG SDG term erms, s, revenues s inc increased 7 64% y-o-y 64 y driven by increasingly 37 37 1.7% 35 35 -2.6 20% EGP 37 37 mn favourable pricing which help offset -7% 22% 21 Br Branches lower test volumes. -12% FY2018 FY2019 FY2018 FY2019 N/A -19% Nig igeria In NGN terms, the division’s top -line -83% -99% increas inc ased by a a 23 23% y-o-y y in FY2019 1.4% 30 30 30 30 -25 25 EGP 30 30 mn driven by rising volumes. -30 30 13 Branches 13 FY2018 FY2019 FY2018 FY2019 * 2019 figures include IFRS 16 effect SDG = 0.3637 EGP, JOD = 23.49 EGP, and NGN = 0.0463 EGP 8 INTEGRATED DIAGNOSTICS HOLDINGS
Strong Group Profitability Steady increase in operational efficiency combines with sustained cost-cutting measures to deliver strong Group profitability IDH DH COGS Breakdown | | EG EGP mn mn / % of of Re Revenue IDH DH SG SG&A Breakdown | | EG EGP mn mn / % of of Re Revenue +17% +11% IDH’s con onsolidated IDH’s revenue gr growth 973 973 1,143 263 263 293 293 13.8% COGS gr grew 17 17% y-o-y, overshadowed the he 4.1% 1% 4.0% 0% 10.3% 1.1% 1% 1.1% 1% with savings on IFRS 16 0.1% 11.2% 11 .2% inc increase in in 1.4% 4% 3.1% 1% 1.5% 5% 1.4% 0.9% 9% related rent offset by SG&A costs, with total SG 2.9% 9% 3.0% 0% 16.3% 17.2% an increase in salaries, SG SG&A/sal ales s de declining 5.4% 4% 5.1% 1% direct depreciation to o 13 13.2% .2% versus 13.7% 18.4% 17.6% and amortization. in FY2018. FY2 Y2018 FY2 Y2019 FY2 Y2018 FY2 Y2019 Salaries Sales & Marketing Consul. Fees Others Raw Material Salaries Rent Transportation Utilities Others IDH DH Co Consolidated Gross Prof ofit | | EG EGP mn mn / % IDH DH Co Consolidated EBI EBITDA | | EG EGP mn mn +14% +24% EBITDA growth of 24% 945 945 as revenues expanded 1,084 Gross profit margin 948 948 762 762 faster than SG&A rec ecorded a a strong g 49 49% % growth for the year. unchanged from the 49% 49% 49% 49% EBITDA mar EBI argin stood at gross profit margin 42% 42% 40% 40% 42% (39 42 (39% whe hen recorded last year. no normalizing for or IFR FRS S 16 16 and Wayak*) and *). FY2 Y2018 FY2 Y2019 FY2 Y2018 FY2 Y2019 * Wayak’s FY2019 EBITDA contribution stood at EGP (5.7) million 9 INTEGRATED DIAGNOSTICS HOLDINGS
Recommend
More recommend
