INTERIM INTERIM RESUL RESULTS TS FOR FOR THE THE SIX SIX MON - - PowerPoint PPT Presentation

INTERIM INTERIM RESUL RESULTS TS

FOR FOR THE THE SIX SIX MON MONTHS THS ENDED ENDED 30 30 SE SEPT PTEMBER EMBER 201 2012

SALIE SALIENT FEA NT FEATURES TURES

• Group revenue increased by 12% to R11,734m
• Group normalised EBITDA 14% higher at R2,486m
• Group normalised EBITDA margin increased from 20.8% to 21.2%
• Normalised headline earnings per share increased by 45% to 112.1 cents
• Converted 102% of normalised EBITDA into cash
• Interim dividend per ordinary share increased to 25.3 cents

Mediclinic International Ltd 3 Interim Results | 30 September 2012

AGEND GENDA

• Group financial results
• Southern Africa
• Switzerland
• United Arab Emirates
• Consolidated
• Regional overview
• Southern Africa
• Switzerland
• United Arab Emirates
• Group prospects
• Questions

Mediclinic International Ltd 4 Interim Results | 30 September 2012

GR GROUP OUP FIN FINANCIAL ANCIAL RESUL RESULTS TS

SOUT SOUTHERN HERN AFR AFRICA ICA

MED MEDIC ICLIN LINIC IC SO SOUTHERN THERN AF AFRI RICA CA

Mediclinic International Ltd 6 Interim Results | 30 September 2012

MEDIC MEDICLINIC LINIC SOUTHERN SOUTHERN A AFRICA FRICA FIN FINAN ANCIA CIAL L RESUL RESULTS TS

• Half-year revenue increased by 9%
• Normalised EBITDA margin increased slightly to 21.2%
• Southern African operations contributed R502m to Group attributable

income Further financial detail on all platforms are provided in Appendices

Mediclinic International Ltd 7 Interim Results | 30 September 2012

ZAR million HY2013 HY2012 % change Revenue 5,130 4,695 9% Normalised EBITDA 1,089 989 10% Depreciation 131 123 7% Net finance charges 152 166

• 8%

Tax 222 230

• 3%

Minority interests 82 76 8% Attributable income 502 394 27% Normalised EBITDA margin 21.2% 21.1% Effective tax rate on normalised profit 27.5% 32.9%

MEDIC MEDICLINIC LINIC SOUTHERN SOUTHERN A AFRICA FRICA EF EFFE FECTIV CTIVE E TAX AX RA RATE TE

The lower effective tax rate for the period under review is mainly due to the replacement of STC with dividends tax Tax rate reconciliation:

Mediclinic International Ltd 8 Interim Results | 30 September 2012

Effective rate on normalised profit HY2012 32.9% STC

• 4.4%

Other

• 0.9%

Effective rate on normalised profit HY2013 27.5%

MEDIC MEDICLINIC LINIC SOUTHERN SOUTHERN A AFRICA FRICA REVENU REVENUE

Southern African revenue growth has remained consistent

3.4 3.8 4.2 4.7 5.1 6.8 7.7 8.6 9.4 0.0 2.0 4.0 6.0 8.0 10.0 2009 2010 2011 2012 2013 ZARbn Half year Full year CAGR: 11.2% CAGR: 11.5%

Mediclinic International Ltd 9 Interim Results | 30 September 2012

MEDIC MEDICLINIC LINIC SOUTHERN SOUTHERN A AFRICA FRICA EBITD EBITDA A AN AND D MAR MARGI GIN

Normalised EBITDA margin remained fairly stable

0.7 0.8 0.9 1.0 1.1 1.5 1.7 1.8 2.0 0.0 0.5 1.0 1.5 2.0 2.5 2009 2010 2011 2012 2013 ZARbn Half year Full year CAGR: 11.1% CAGR: 10.3% 21.3% 21.2% 21.1% 21.4% 21.4% 21.5% 20.8% 21.3% 21.5%

Mediclinic International Ltd 10 Interim Results | 30 September 2012

SWIT SWITZERLAND ZERLAND

HIR IRSLA SLANDEN DEN

Mediclinic International Ltd 11 Interim Results | 30 September 2012

HI HIRSLAND RSLANDEN EN FIN FINAN ANCIA CIAL L RESUL RESULTS TS (CH (CHF) F)

• Half-year revenue increased by 4%
• Normalised EBITDA increased by 3%
• Normalised EBITDA margin decreased slightly from 21.4% to 21.2%

Mediclinic International Ltd 12 Interim Results | 30 September 2012

CHF million HY2013 HY2012 % change Revenue 631 606 4% Normalised EBITDA 133 129 3% Depreciation 33 33 0% Net finance charges 72 73

• 1%

Tax 16 15 7% Attributable income 12 8 50% Normalised EBITDA margin 21.2% 21.4%

HI HIRSLAND RSLANDEN EN FIN FINAN ANCIA CIAL RESUL RESULTS TS (ZAR (ZAR)

• The Rand was weaker against the Swiss franc during the current period
• In ZAR terms, half-year revenue increased by 9% to R5.4bn
• Normalised EBITDA increased by 8% to R1.2bn
• Hirslanden contributed R107m to Group attributable income

Mediclinic International Ltd 13 Interim Results | 30 September 2012

ZAR million HY2013 HY2012 % change Revenue 5,446 5,001 9% Normalised EBITDA 1,152 1,070 8% Depreciation 285 268 6% Net finance charges 625 605 3% Tax 135 128 5% Attributable income 107 69 55% Average exchange rate 8.63 8.25 Spot exchange rate 8.85 8.96

HI HIRSLAND RSLANDEN EN REVENU REVENUE

Hirslanden has shown a steady revenue growth over the past few years

Mediclinic International Ltd 14 Interim Results | 30 September 2012

517 540 562 606 631 1,091 1,134 1,218 1,270 300 600 900 1200 1500 2009 2010 2011 2012 2013 CHFm Half year Full year CAGR: 5.1% CAGR: 5.2%

HI HIRSLAND RSLANDEN EN EBITD EBITDA A AN AND D MAR MARGI GIN

Normalised EBITDA margin was fairly stable

Mediclinic International Ltd 15 Interim Results | 30 September 2012

114 120 124 129 133 245 266 285 278 80 160 240 320 400 2009 2010 2011 2012 2013 CHFm Half year Full year CAGR: 4.0% CAGR: 4.3% 22.1% 21.2% 21.4% 22.1% 22.2% 22.5% 21.9% 23.4% 23.5%

UNITED UNITED AR ARAB AB EMIRA EMIRATES TES

EMIRA EMIRATES TES HE HEAL ALTH THCARE ARE

Mediclinic International Ltd 16 Interim Results | 30 September 2012

EMIRA EMIRATE TES HEAL S HEALTHCA THCARE RE FIN FINAN ANCIA CIAL L RESUL RESULTS TS (AED (AED)

• Revenue increased by 28%
• Normalised EBITDA margin reached 21.2%

Mediclinic International Ltd 17 Interim Results | 30 September 2012

AED million HY2013 HY2012 % change Revenue 519 406 28% Normalised EBITDA 110 63 75% Depreciation 23 24

• 4%

Net finance charges 7 8

• 13%

Minority interests 39 15 160% Attributable income 41 16 156% Normalised EBITDA margin 21.2% 15.6%

EMIRA EMIRATE TES HEAL S HEALTHCA THCARE RE FIN FINAN ANCIA CIAL L RESUL RESULTS TS (ZAR (ZAR)

• The Rand was weaker against the UAE dirham during the current period
• In ZAR terms, half-year revenue increased by 50% to R1.2bn
• EBITDA increased by 104% to R245m
• Emirates Healthcare contributed R89m to Group attributable income

Mediclinic International Ltd 18 Interim Results | 30 September 2012

ZAR million HY2013 HY2012 % change Revenue 1,158 771 50% Normalised EBITDA 245 120 104% Depreciation 52 45 16% Net finance charges 17 14 21% Minority interests 87 30 190% Attributable income 89 31 187% Average exchange rate 2.23 1.90 Spot exchange rate 2.26 2.20

EMIRA EMIRATE TES HEAL S HEALTHCA THCARE RE REVENU REVENUE

Emirates Healthcare has shown exceptional revenue growth due to recent expansions and acquisitions

147 237 301 406 519 341 529 681 902 200 400 600 800 1000 2009 2010 2011 2012 2013 AEDm Half year Full year CAGR: 37.1% CAGR: 38.3%

Mediclinic International Ltd 19 Interim Results | 30 September 2012

EMIRA EMIRATE TES HEAL S HEALTHCA THCARE RE EBITD EBITDA A AN AND D MAR MARGI GIN

EBITDA margin increased strongly

Mediclinic International Ltd 20 Interim Results | 30 September 2012

14 45 63 110

• 3

62 122 174

• 50

50 100 150 200 250 2009 2010 2011 2012 2013 AEDm Half year Full year CAGR: >100% CAGR: >100% 0% 21.2% 15.5% 15.0% 5.9%

• 0.9%

19.2% 18.0% 11.7%

CONSOLID CONSOLIDATED TED FIN FINANCIAL ANCIAL RESUL RESULTS TS

Mediclinic International Ltd 21 Interim Results | 30 September 2012

MEDIC MEDICLINIC LINIC GR GROU OUP SUMMA SUMMARISED RISED RESUL RESULTS TS (ZAR (ZAR)

• Group half-year revenue increased by 12%
• Normalised headline earnings rose by 46%
• EBITDA margin increased to 21.2%

Mediclinic International Ltd 22 Interim Results | 30 September 2012

ZAR million HY2013 HY2012 % change Revenue 11,734 10,467 12% Normalised EBITDA 2,486 2,179 14% Depreciation 468 436 7% Net finance charges 779 766 2% Tax 358 357 0% Normalised headline earnings 706 484 46% Normalised HEPS (cents) 112.1 77.2 45% Issued shares (weighted average) (m) 629 627 0% Normalised EBITDA margin 21.2% 20.8%

Note: Normalised headline earnings for the half-year include ZAR8m relating to corporate activity (HY2012: -ZAR10m)

REVENU REVENUE E AN ANAL ALYSIS SIS

Mediclinic International Ltd 23 Interim Results | 30 September 2012 5,130 44% 5,446 46% 1,158 10% 4,695 45% 5,001 48% 771 7% Southern Africa Switzerland UAE

Revenue HY2013 (Rm) Revenue HY2012 (Rm) Total: R11.7 billion Total: R10.5 billion

REVENU REVENUE E GR GROWTH WTH EX EXCH CHAN ANGE GE RA RATE TE I IMP MPACT CT

Mediclinic International Ltd 24 Interim Results | 30 September 2012 4,695 4,695 5,130 5,001 5,232 5,446 771 905 1,158

• 3,000

6,000 9,000 12,000 15,000 HY2012 HY2012 (HY2013 rate) HY2013 R millions Southern Africa Switzerland UAE Total: 10.5bn Total: 10.8bn Total: 11.7bn

3% rate difference 8% actual growth 12% total growth

EBITD EBITDA A AN ANAL ALYSIS SIS

Mediclinic International Ltd 25 Interim Results | 30 September 2012 1,089 44% 1,152 46% 245 10% 989 45% 1,070 49% 120 6% Southern Africa Switzerland UAE

EBITDA HY2013 (Rm) EBITDA HY2012 (Rm) Total: R2.5 billion Total: R2.2 billion

EBITD EBITDA A GR GROWTH WTH EX EXCH CHAN ANGE GE RA RATE TE I IMP MPACT CT

Mediclinic International Ltd 26 Interim Results | 30 September 2012 989 989 1,089 1,070 1,113 1,152 120 140 245

• 600

1,200 1,800 2,400 3,000 HY2012 HY2012 (HY2013 rate) HY2013 R millions Southern Africa Switzerland UAE Total: 2.2bn Total: 2.2bn Total: 2.5bn

3% rate difference 11% actual growth 14% total growth

NORMA NORMALIS LISED ED HEADLINE HEADLINE EARNINGS EARNINGS CONTRIB CONTRIBUTI UTION ON

Mediclinic International Ltd 27 Interim Results | 30 September 2012

Normalised Headline Earnings HY2013 (Rm) Normalised Headline Earnings HY2012 (Rm) Total: R706 million Total: R484 million

394 81% 69 14% 31 7%

• 10
• 2%

502 71% 107 15% 89 13% 8 1% Southern Africa Switzerland UAE Corporate

NO NORM RMALISE ALISED D HEAD HEADLINE EAR LINE EARNI NING NGS S PE PER S R SHA HARE RE

Mediclinic International Ltd 28 Interim Results | 30 September 2012

Description HY2013 HY2012 % change Headline earnings (ZAR million) 706 484 46%

Weighted ave. no. of shares in issue (m)

629.3 626.7 0.4% Headline earnings per share (cents) 112.1 77.2 45%

77.2 112.1 17.2 6.1 9.3 2.3 0.0 25.0 50.0 75.0 100.0 125.0 HY2012 MCSA contribution Hirslanden contribution EHHL contribution Corporate HY2013

Normalised HEPS Bridge HY2012 - HY2013

NEW NEW DEBT STR DEBT STRUC UCTURE TURE FR FROM OM OC OCTOB OBER ER 20 2012 12

Mediclinic International Ltd 29 Interim Results | 30 September 2012

MEDICLINIC SOUTHERN AFRICA (a) ZARm Effective interest Maturity Senior term 2,950 JIBAR + 2.05% Bullet in Oct 2017 Senior amortising 750 JIBAR + 1.80% Amortising to Oct 2017 Yr1-2: R210m Yr3-5: R110m Capex facility: ZAR500m [undrawn]

• JIBAR + 2.20%

Any balance in Oct 2017 GBF: ZAR600m [undrawn]

• Any balance in Oct 2017

Total 3,700 HIRSLANDEN CHFm Effective interest Maturity First lien 1,500 Swiss LIBOR + 2.0% Amortising to Dec 2017 Yr1-5: CHF90m CHF1,050m in Dec 2017 Second lien 300 Swiss LIBOR + 3.5% Bullet in June 2018 Third lien 250 Swiss LIBOR + 2.0% Bullet in June 2018 RCF: CHF50m

• Swiss LIBOR + 2.0%

Any balance in Dec 2017 Total 2,050 EMIRATES HEALTHCARE (b) AEDm Secured Bank Loans 63 Total 63

(b) Current facilities to be replaced by new facility of USD172m in the near future, with an effective interest rate of LIBOR plus 4.5% to 5.25%, maturing after 54 months (a) Also a R2,000m preference share facility with an effective interest rate of prime x 0.72. Amortising: Yr3-4: R100m;

RIG RIGHTS HTS OFFE OFFER AFTE AFTER 3 R 30 SE 0 SEPT PTEMBER EMBER 20 2012 12

• Rights offer raised approximately R4.9bn net of expenses
• Comprised 26.77263 new shares for every 100 shares held at R28.63 per

share

• Proceeds have been used to partly refinance Hirslanden debt
• Summary of rights offer results:

Mediclinic International Ltd 30 Interim Results | 30 September 2012

• No. of Rights

Offer Shares % of Rights Offer Shares Rights Offer Shares available for subscription 174,641,984 100.0 Rights Offer Shares subscribed for 174 166 891 99.7 Excess Rights Offer shares applied for 97,631,830 55.9 Excess Rights Offer shares to be allocated 475,093 0.3 Rights Offer shares available for the underwriter

• -

CA CASH SH CO CONV NVERSION ERSION

Mediclinic International Ltd Interim Results | 30 September 2012 31

• The Group converted 102% of normalised EBITDA into cash generated from
• perations over the interim period

REGION REGIONAL AL OVER VERVIEW VIEW

SOUT SOUTHERN HERN AFR AFRICA ICA MEDICLINIC MEDICLINIC SOUT SOUTHERN A HERN AFRICA FRICA

Mediclinic International Ltd 33 Interim Results | 30 September 2012

ES ESTAB ABLISHE LISHED D LE LEAD ADER ER IN IN QU QUALITY CAR ALITY CARE

Mediclinic International Ltd Interim Results | 30 September 2012 34

At reporting period 30 Sep 31 Mar Hospitals 52 52 Beds 7,408 7,378 Admitting specialists 2,510 2,330 Employees (FTEs) 17,540 17,200

CO COMMENT MMENTAR ARY

• 9% revenue growth
• 4.1% increase in bed-days sold
• 5.2% increase in average income per bed-day
• EBITDA margin increase to 21.2%
• Strong cash flow
• 112% of normalised EBITDA converted into cash generated from operations

Mediclinic International Ltd Interim Results | 30 September 2012 35

BED BED OC OCCU CUPAN ANCY CY AN AND D DEVEL DEVELOPMENT OPMENT

• Licensed beds increased from 7,378 at year end to 7,408
• Bed occupancy level (calculated on operational beds) stable
• Additional capacity (difference between licensed and operational beds) is for

projects and expansions at hospitals

• Average additional capacity is 8% of licensed beds

Mediclinic International Ltd Interim Results | 30 September 2012 36

65.6% 67.9% 66.8% 67.4% 67.5% 70.2%

60.0% 64.0% 68.0% 72.0% 76.0% 80.0%

• 1,800

3,600 5,400 7,200 9,000 2008 2009 2010 2011 2012 HY2013 Bed occupancy rate Number of beds Operational beds Additional capacity Bed occupancy rate CAGR = 2% 6,855 7,035 7,103 7,378 7,408 6,776

BUI UILDIN LDING G PR PROJECTS OJECTS CO COMPL MPLET ETED ED DU DURIN RING G LAST LAST 6 MO 6 MONTHS NTHS

Mediclinic International Ltd Interim Results | 30 September 2012 37 Hospital Completed Beds Theatres Mediclinic Muelmed (additional beds) Sep 2012 30

• Mediclinic Legae (emergency centre)

Jul 2012

• Mediclinic Legae

Mediclinic Muelmed

BUI UILDIN LDING G PR PROJECTS OJECTS

IN IN PR PROG OGRESS ESS: : CO COMPLETE MPLETE DU DURI RING G 2012/13 2012/13

Mediclinic International Ltd Interim Results | 30 September 2012 38

Mediclinic Swakopmund Mediclinic Hoogland Mediclinic Nelspruit

Hospital Complete Beds Theatres Mediclinic Swakopmund (additional beds and upgrade) Nov 2012 14

• Mediclinic Nelspruit (theatres and upgrade)

Nov 2012

• 2

Mediclinic Hoogland (ICU, EC, Consulting rooms and parking) Dec 2012 4

• Mediclinic Limpopo

Mar 2013 15

• Mediclinic Otjiwarongo (additional beds)

Nov 2012 2

• Mediclinic Louis Leipoldt (upgrade)

Mar 2013

• Mediclinic Milnerton (Paediatric ward)

Nov 2012 10

• Mediclinic Kloof (Consulting rooms and

parking) Dec 2012

• Mediclinic Pietermaritzburg (cardiac unit)

Mar 2013 36

• Total

81 2

Mediclinic Milnerton

BUI UILDIN LDING G PR PROJECTS OJECTS

IN IN PR PROG OGRESS ESS: : CO COMPLETE MPLETE DU DURI RING G 2013/14 2013/14

Mediclinic International Ltd Interim Results | 30 September 2012 39

Mediclinic Pietermaritzburg

Hospital Beds Mediclinic Pietermarizburg (additional beds, consulting rooms and upgrade) 44 Mediclinic Windhoek (Parking, New ward and Consulting rooms) 27 Mediclinic Newcastle (additional beds) 10 Mediclinic Victoria (additional beds and consulting rooms) 14 Wits Donald Gordon Medical Centre (upgrade)

• Mediclinic Stellenbosch (upgrade)
• Total

95

Mediclinic Stellenbosch Wits Donald Gordon Medical Centre

BUI UILDIN LDING G PR PROJECTS OJECTS

APP APPROVED VED TO O ST STAR ART T DURING DURING NEXT NEXT 12 12 MONT MONTHS HS

Centurion Private Hospital

Mediclinic International Ltd Interim Results | 30 September 2012 40 Hospital Beds Mediclinic Marapong (relocation of hospital)

• Mediclinic Howick (additional beds and upgrade)

22 Centurion (new hospital) 174 Total 196

• White Paper to be published soon; and Department of Health embarking on

costing exercise for NHI pilot programme

• Initial activities to implement the NHI are not expected to have any significant

effect on the medical schemes market or the private health sector in the immediate future; until we see significant and consistent actions around:

• Reopening of nursing colleges
• Improvement of hospital management
• Increased capacity of medical schools [At this stage, only 1,000 students sent to Cuba]
• MCSA and HASA have continued to engage with the Minister of Health on how

the private sector can assist in increasing the supply of health professionals

REGU REGULA LATOR ORY Y ENVIR ENVIRON ONMENT MENT UPD UPDATE TE NATION TIONAL AL HEAL HEALTH I TH INSUR NSURAN ANCE CE (N (NHI HI)

Mediclinic International Ltd 41 Interim Results | 30 September 2012

• Competition Commission is considering an enquiry into the private health
• sector. Indications are that:
• Enquiry could commence in early 2013
• Competition Commission hopes to complete the enquiry within 18 months or

less

• MCSA has been engaging with both the Competition Commission and other

relevant stakeholders

• MCSA currently doing background research in preparation for the enquiry

REGU REGULA LATOR ORY Y ENVIR ENVIRON ONMENT MENT UPD UPDATE TE CO COMPE MPETIT TITIO ION N CO COMMI MMISS SSIO ION

Mediclinic International Ltd 42 Interim Results | 30 September 2012

REGU REGULA LATOR ORY Y ENVIR ENVIRON ONMENT MENT UPD UPDATE TE PRIC PRICIN ING G AN AND D UTILISA UTILISATION TION

Mediclinic International Ltd 43

• The Department of Health maintains its stance on implementing some form of

pricing framework that regulates prices in the private sector

• MCSA is working on various international hospital benchmarking projects in

preparation for the development of any pricing framework

• MCSA has engaged with the Council for Medical Schemes (CMS) around

information they published in relation to the effect of utilisation on medical scheme expenditure on private hospitals:

• MCSA successfully convinced CMS that utilisation is a more significant

driver of private hospital expenditure than in the past. Confirmed by Discovery Health analysis.

• MCSA instigated a process at CMS to collect more accurate utilisation

information from medical schemes

• CMS is currently using MCSA-supplied utilisation definitions as a basis for

developing a standard industry-wide basis for measuring hospital utilisation

Interim Results | 30 September 2012

REGU REGULA LATOR ORY Y ENVIR ENVIRON ONMENT MENT UPD UPDATE TE PRIC PRICIN ING G AN AND D UTILISA UTILISATION TION

Mediclinic International Ltd 44

• Other areas covered in our engagement include
• Improper use of the consumer price index as a basis for hospital price

inflation

• The need for accurate and balanced reporting of data in relation to the

private healthcare industry

Interim Results | 30 September 2012

• Increasing momentum around discussion for the introduction of DRGs
• ...but DRGs can only function properly if we have the following for both public

and private sector:

• Independent and industry-wide grouper
• Standard cost-accounting methodology
• Adequate clinical coding capacity
• Independent, neutral, capable and transparent institutions to manage the

business rules for DRGs

• Critical importance of greater doctor and hospital alignment going forward

REGU REGULA LATOR ORY Y ENVIR ENVIRON ONMENT MENT UPD UPDATE TE OTHER DEVEL THER DEVELOPMENTS OPMENTS

Mediclinic International Ltd 45 Interim Results | 30 September 2012

• National Health Amendment Bill to establish Office of Health Standards

Compliance (OHSC) has been approved by Parliament. The regulations which will define the actual process are still to be published

• The regulation that demarcates between health insurance policies and medical

schemes - released by Minister of Finance in March 2012 is still not finalised

• We expect changes to the Medical Schemes Act to be published for comment in

the near future. The aim of the amendment would be to improve governance aspects of scheme management

REGU REGULA LATOR ORY Y ENVIR ENVIRON ONMENT MENT UPD UPDATE TE OTHER DEVEL THER DEVELOPMENTS OPMENTS

Mediclinic International Ltd 46 Interim Results | 30 September 2012

MEDIC MEDICAL AL SCHEME SCHEME MAR MARKET KET IN INCR CREASE EASE IN IN B BENEF ENEFICI ICIAR ARIES IES

Mediclinic International Ltd 47

0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 2005 2006 2007 2008 2009 2010 2011

Total Membership at Year-end (millions)

4.2% 2.5% 3.6% 3.0% 2.5% 6.6%

Source: Council for Medical Schemes - Annual Reports

Interim Results | 30 September 2012

MEDIC MEDICAL AL SCHEME SCHEME MAR MARKET KET IN INCR CREASE EASE IN IN RESE RESERVES VES

Mediclinic International Ltd 48

Source: Council for Medical Schemes - Annual Reports

5.3 7.1 9.6 13.8 18.7 20.9 21.8 24.1 27.0 27.9 30.9 35.0

0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Accummulated Reserves (billions)

20.4% 20.2% 22.9% 29.3% 37.3% 37.9% 39.1% 38.0% 32.6% 31.6% 32.9% 36.6%

Solvency Ratio

Interim Results | 30 September 2012

MEDIC MEDICAL AL SCHEME SCHEME MAR MARKET KET CO CONSOLID NSOLIDATION TION FAIR AIRLY Y BALAN ALANCED CED MAR MARKET KET

Source: Econex

Mediclinic International Ltd 49

500 1000 1500 2000 2500

Medical Schemes Administrators Private Hospitals

Herfindahl Hirshmann Index [2010]

Concentrated Market

Interim Results | 30 September 2012

SWIT SWITZERLAND ZERLAND HIRSLANDEN HIRSLANDEN

Mediclinic International Ltd 50 Interim Results | 30 September 2012

DEVEL DEVELOPMENT OF K OPMENT OF KEY F EY FIG IGUR URES ES

At reporting period 30 Sep 31 Mar Hospitals 14 14 Inpatient beds 1,479 1,479 Visiting specialists 1,370 1,355 Employed specialists 206 206 Average FTEs 5,020 4,950

Mediclinic International Ltd 51 Annual Results | 30 September 2012

• Coping well with regulatory changes and challenges
• Continued growth in an unsteady environment
• Bringing the Berne hospitals back on track
• Solid financial performance
• Successful re-financing
• Leaner and more effective organisation in line with “One Mediclinic”
• Pursuing further growth

KEY KEY DEVEL DEVELOPMENTS OPMENTS DU DURIN RING G FIRST FIRST HA HALF LF-YEAR YEAR

SOLID OLID PERFOR FORMA MANC NCE IN IN A A DIFFICU IFFICULT MA MARKET KET ENV NVIR IRON ONME MENT NT

Mediclinic International Ltd 52 Interim Results | 30 September 2012

CO COPING PING WEL WELL L WITH WITH REGU REGULA LATOR ORY CH CHAN ANGES GES AN AND D CH CHALLE ALLENG NGES ES

Hospital planning and financing

• Favourable provisional DRG base rates for Hirslanden hospitals
• Successful negotiations with insurance companies
• Cantonal approval in 7 out of 10 cantons pending
• Public mandates in all crucial medical fields for 13 out of 14 hospitals
• Further negotiations with cantons to expand and secure mandates
• Regulatory uncertainties in the Canton of Berne remain
• Klinik Im Park (not listed) performing well as “contractual hospital”

Mediclinic International Ltd 53 Interim Results | 30 September 2012

CO COPING PING WEL WELL L WITH WITH REGU REGULA LATOR ORY CH CHAN ANGES GES AN AND D CH CHALLE ALLENG NGES ES

Highly Specialised Medicine (HSM)

• Aim of HSM (concentration, quality improvements) plausible and laudable
• HSM selection process so far discriminated against private players
• No representation on expert and decision panels
• Exclusion from service mandates (neurosurgery)
• Hirslanden hospitals highly qualified for many HSM mandates
• Active lobbying by Hirslanden for HSM mandates
• Hirslanden to ensure reliably high HSM case numbers with active case

management within Hirslanden network (hub-and-spokes model)

Mediclinic International Ltd 54 Interim Results | 30 September 2012

CO CONTIN NTINUED UED GR GROWTH WTH

GR GROWT WTH PATTERN N NO NOT DIST ISTUR URBED BY ECO ECONO NOMIC MIC AND ND POLITIC OLITICAL L CHA HANG NGES AND ND U UNC NCERTAIN INTIES IES

370 390 459 491 517 540 566 606 631 450 515 681 694 743 814 907 983 1091 1134 1218 1270

• 5%
• 3%
• 1%

1% 3% 5% 200 400 600 800 1000 1200 1400

2000 2001 2002 2003 2004 2005 2006 2007 2008 08/09 10/11 11/12 12/13 HY Revenues MCCH Revenues MCCH Growth real GDP CH Growth real GDP EU27 TCHF

KVG Revision 1999 IntroductionTarmed "OKP” Contract Bern Financial crisis KVG Revision in force Euro crisis

GDP 08/09 – 11/12: GDP of calendar years indicated (e.g. period 10/11 = GDP calendar year 2010) GDP EU 27: All 27 current countries of the European Union; data sources: SECO (Switzerland, definitive numbers); Eurostat (EU 27, partly provisional numbers )

Mediclinic International Ltd 55 Annual Results | 30 September 2012

DEVEL DEVELOPMENT OF K OPMENT OF KEY F EY FIG IGUR URES ES ST STRONG ONG OPE OPERA RATION TIONAL AL PE PERFORMAN RFORMANCE CE

Mediclinic International Ltd 56

29,016 29,245 34,062 35,409 35,178 34,553 35,551 37,808 38,898 56,719 66,315 67,019 69,642 73,448 73,582 77,643 80,588

20,000 40,000 60,000 80,000 100,000

2004 2005 2006 2007 08/09 09/10 10/11 11/12 12/13

Inpatients

+2.9%

CAGR HY: 3.7%

177,056 176,134 205,795 212,299 208,830 205,790 211,681 221,635 225,985 347,754 394,988 404,990 416,988 433,737 435,240 459,638 468,946

100,000 200,000 300,000 400,000 500,000

2004 2005 2006 2007 08/09 09/10 10/11 11/12 12/13

Patient days

+2.0%

CAGR HY: 3.1% Annual Results | 30 September 2012

5.15 5.03 5.05 5.00 4.94 4.96 4.95 4.87 4.81 5.13 5.13 5.07 4.98 4.90 4.91 4.92 4.82

0.00 1.00 2.00 3.00 4.00 5.00 6.00

2004 2005 2006 2007 08/09 09/10 10/11 11/12 12/13

ALOS

• 1.1 %

CAGR HY: - 0.8%

29.3% 38.4% 32.3% 30.7% 37.3% 32.0% 32.2% 37.0% 30.8% 35.7% 35.5% 28.8% General Semi-private Private 2009/2010

2010/2011 2011/2012 HY 2012/2013

Insurance mix

DEVEL DEVELOPMENT OF K OPMENT OF KEY F EY FIG IGUR URES ES ST STRONG ONG OPE OPERA RATION TIONAL AL PE PERFORMAN RFORMANCE CE

Mediclinic International Ltd 57

Normalised EBITDA according to IFRS income statement. FY 06/07 and older: calculated figures (until 2007: accounting period = calendar year)

75 79 93 98 114 120 124 130 133 167 188 209 222 245 279 285 278

50 100 150 200 250 300

04/05 05/06 06/07 07/08 08/09 09/10 10/11 11/12 11/13

EBITDA

+3.0%

CAGR HY: 7.5% Annual Results | 30 September 2012

370 390 459 491 517 540 566 606 631 743 814 907 983 1,091 1,134 1,218 1,270

200 400 600 800 1,000 1,200 1,400

2004 2005 2006 2007 08/09 09/10 10/11 11/12 12/13

Revenues

+4.1%

CAGR HY: 6.9%

KLIN KLINIK IK BEA BEAU-SIT SITE

Expansion due to business plan Task Force

Inpatient admissions versus FTE

Mediclinic International Ltd 58 Interim Results | 30 September 2012

375 380 385 390 395 400 405 410

• 20
• 10

10 20 30 40 50 60 70 80 Jan 12 Feb 12 Mar 12 Apr 12 May 12 Jun 12 Jul 12 Aug 12 Average FTE Inpatient admissions (delta on prev. year)

inpatient admissions (delta on prev. year) FTE Linear (inpatient admissions (delta on prev. year))

LE LEAN AN AND AND EF EFFE FECTIV CTIVE E OR ORGA GANI NISA SATION TION IN LINE WITH “ONE MEDICLINIC”

Aiming at increasing speed and efficiency of decision making and effectiveness of leadership:

• Exco: Changes in composition and responsibilities
• One COO responsible for all hospitals
• One Chief Services Officer (CSO) responsible for all support services
• Reduction of Exco membership from 5 to 4

Mediclinic International Ltd 59 Interim Results | 30 September 2012

IN INTE TERN RNAL AND AL AND EXTE EXTERN RNAL G AL GROWTH WTH GR GROWTH WTH PR PROJECTS OJECTS

Public-private Partnership with Spital Männedorf (CHF13m) Radiotherapy: Opening beginning of 2014 Clinique Bois-Cerf (CHF28m) Radiology / Radiotherapy: Jan 2012 / end 2012 Klinik Hirslanden (CHF80m) New hospital wing: Opening European spring 2013 Klinik Stephanshorn (CHF5m) Medical Centre: Opening Sep 2012 Klinik Beau-Site (Capex CHF28m) Doctors’ offices and ward: Sep 2011

Mediclinic International Ltd 60 Interim Results | 30 September 2012

PRIO PRIORITIES ON RITIES ON T THE HE ROAD AD AH AHEAD EAD

FOC FOCUS US OF OF TOP OP MA MANAGEME GEMENT NT ATTENTION NTION

• Focus on profitability
• Service differentiation private / semi-private / general
• Improving admin processes (documentation, DRG coding, billing)
• Next phases of project Lighthouse
• Transformation in context of 1-MC and One Hirslanden
• Continued efforts to ensure fair treatment in the context of new hospital

planning and financing rules (base rates, cantonal regulations, etc.)

• Fight for service mandates in highly-specialised medicine (HSM)
• Active pursuit of incremental internal and external growth opportunities

Mediclinic International Ltd 61 Interim Results | 30 September 2012

Mediclinic International Ltd Interim Results | 30 September 2012 62

UNIT UNITED ED ARA ARAB B EMIRA EMIRATES TES EMIRA EMIRATES TES HEAL HEALTHCARE THCARE

* Excluding doctors

NU NUMBER MBER ON ONE PRIV E PRIVATE TE HOSP HOSPIT ITAL AL GR GROU OUP P IN IN D DUB UBAI AI

Mediclinic International Ltd 63 Interim Results | 30 September 2012

At reporting period 30 Sep 31 Mar Hospitals 2 2 Clinics 8 8 Beds: Hospitals 336 334 Beds: Clinics 26 22 Doctors (employed) 255 238 Doctors (self employed

with admission rights)

190 225 Employees* 1,690 1,580

PE PERFOR RFORMAN MANCE CE TRENDS 200 TRENDS 2008–2013 2013

Mediclinic International Ltd 64 Interim Results | 30 September 2012

Patient attendance

100 204 104 229 145 303 154 333 176 378 196 56 96 73 157 69 144 68 175 126 289 155

150 300 450 600 750 HY2008 FY2008 HY2009 FY2009 HY2010 FY2010 HY2011 FY2011 HY2012 FY2012 HY2013 Total outpatients (000s) Hospitals HY Clinics HY Hospitals FY Clinics FY

CAGR: 22.0% CAGR: 17.5%

Hospitals HY Clinics HY Hospitals FY Clinics FY

CAGR: 22.0% CAGR: 17.5%

2006

• Initial Mediclinic team came to UAE
• 1 Hospital and 2 clinics
• Revenue AED162.9m
• Staff 571

2007

• Mediclinic partners with Varkey Group and GE to become majority

shareholder in EHL

• Welcare Clinic Qusais opens

2008

• The City Hospital opens
• Welcare Clinic Mirdiff opens

EHL: EHL: A BR A BRIEF IEF HIST HISTOR ORY Y SINCE MEDICLINIC’S ARRIVAL

Mediclinic International Ltd 65 Interim Results | 30 September 2012

2010

• Welcare Clinic Ibn Battuta opens

2011

• EHL acquires Emaar Healthcare clinics – Dubai Mall Medical Centre,

Arabian Ranches Clinic and Meadows Clinic 2012

• Mediclinic International acquires remaining shares in EHL to become

100% owners

Mediclinic International Ltd 66 Interim Results | 30 September 2012

EHL: EHL: A BR A BRIEF IEF HIST HISTOR ORY Y SINCE MEDICLINIC’S ARRIVAL

• Differs from that in South Africa and Switzerland
• Revenue not directly related to number of patient beds
• Derives income from all areas of the business including inpatient, outpatient,

rehab, A&E, doctors’ professional fees, radiology, lab and pharmacy

• Most of the doctors are employed

BUSIN USINES ESS MO S MODEL DEL

Mediclinic International Ltd 67 Interim Results | 30 September 2012

• Non locals may not have 100% ownership of a business, with the exception of

Free zones, such as Dubai Healthcare City (DHCC)

• Different licensing bodies between DHCC and the rest of Dubai – complicates

staff rotation

• Tariff still completely driven by individual negotiations between provider and

supplier; little government intervention

• Health Authorities starting to put a bigger focus on quality of healthcare and

price – CPT coding mandatory from 1 January 2013

• DRGs around the corner for Dubai; already in place in Abu Dhabi
• Medical complaint system

REGU REGULA LATION TIONS

Mediclinic International Ltd 68 Interim Results | 30 September 2012

• Economic downturn slowed the entry of meaningful competition initially
• New competition has already opened in key areas of Dubai (Southern Side)
• American Hospital expanding
• Competing facilities being built within DHCC

CO COMPE MPETIT TITIO ION

Mediclinic International Ltd 69 Interim Results | 30 September 2012

• Tailwind effect!
• Arab Spring has had a positive effect on the population growth of Dubai
• Seen as a safe haven within the Middle East
• One of the fastest growing populations in the world (>3% / annum)
• Population reported to be up by 64.5% since 2006
• GDP per capita growing at a rapid rate, mainly driven by oil and gas industry
• Large investments are ongoing into various sectors:

− Energy − Transport − Tourism − Trade

UAE AE DEVEL DEVELOPMENT OPMENT

Mediclinic International Ltd 70 Interim Results | 30 September 2012

• Brought The City Hospital to capacity with new outpatient department and

inpatient floor – 45 new beds – including expanded NICU (from 12 to 27 beds)

• Launched centres of competence in nuclear medicine, obesity and

neuroscience

• Completed upgrades to Dubai Mall Medical Centre and introduced measures to

bring it to capacity

• Relocated remaining corporate staff from The City Hospital to Dubai Mall

Medical Centre

ACH CHIEVEMENTS IEVEMENTS I IN 20 N 2012 12

Mediclinic International Ltd 71 Interim Results | 30 September 2012

• Re-engineered tariff to be CPT-based from 1 Jan 2013
• Further moved the tariff increases to the inpatient side of the business
• Gained a clear understanding of the DRG tariff in Abu Dhabi and its

ramifications

• Implemented HIS at all units – Welcare Hospital goes live 1 December 2012
• Implemented One EMR (Electronic Medical Records)
• Successfully implemented social media strategy including Facebook, Youtube

and a mobile app

• Relocated EDC to better located and larger premises – opening 1 December

2012

ACH CHIEVEMENTS IEVEMENTS I IN 20 N 2012 12

Mediclinic International Ltd 72 Interim Results | 30 September 2012

• Movement from the fragmented EHL/Welcare/City brand to a unified Mediclinic

brand

• Build public awareness of larger group and its fundamentals

AWAR WARENES ENESS

Mediclinic International Ltd 73 Interim Results | 30 September 2012

• MCI bought remaining shares in EHL because they recognise potential for

growth in the business

• UAE population grew 64.5% from 2006 to 2010…and is still growing
• High disposable income – GDP per capita $56,000
• Immediate need for more doctors and more international standard hospitals in

the UAE

• Many opportunities are currently being assessed and most attractive ones are

being prioritised

GR GROWTH WTH GEOG GEOGRA RAPHICA PHICAL

Mediclinic International Ltd 74 Interim Results | 30 September 2012

GR GROUP OUP PR PROSPECTS OSPECTS

PR PROSPE OSPECTS CTS

• Confident that successful debt refinancing will provide appropriate capital

structure to pursue strategic growth and development opportunities, while reducing finance costs going forward

• Successful acquisition of minority stake in Dubai enables the company to

benefit from the ongoing growth within the UAE and surrounding regions

• Remain comfortable with the diverse geographical platform distribution
• Continued focus on core business
• Despite a number of uncertainties related to regulatory issues we remain

confident about the future

Mediclinic International Ltd 76 Interim Results | 30 September 2012

QUESTIONS QUESTIONS

APPENDICES APPENDICES

MEDIC MEDICLINIC LINIC SOUTHERN SOUTHERN A AFRICA FRICA FIN FINAN ANCIA CIAL L RESUL RESULTS TS (ZAR (ZAR)

Mediclinic International Ltd 79 Interim Results | 30 September 2012

ZAR million HY2013 HY2012 % change Revenue 5,130 4,695 9% Normalised EBITDA 1,089 989 10% Depreciation 131 123 7% Net finance charges 152 166

• 8%

Tax 222 230

• 3%

Minority interests 82 76 8% Attributable income 502 394 27% Normalised EBITDA margin 21.2% 21.1% Effective tax rate on normalised profit 27.5% 32.9% ZAR million 30 Sep 12 31 Mar 12 % change Total interest-bearing debt 3,541 3,631

• 2%

Total assets 7,506 7,131 5%

HI HIRSLAND RSLANDEN EN FIN FINAN ANCIA CIAL L RESUL RESULTS TS (CH (CHF) F)

Mediclinic International Ltd 80 Interim Results | 30 September 2012

CHF million HY2013 HY2012 % change Revenue 631 606 4% Normalised EBITDA 133 129 3% Depreciation 33 33 0% Net finance charges 72 73

• 1%

Tax 16 15 7% Attributable income 12 8 50% EBITDA margin 21.2% 21.4% CHF million 30 Sep 12 31 Mar 12 % change Total interest-bearing debt 2,425 2,438

• 1%

Total assets 4,729 4,679 1%

HI HIRSLAND RSLANDEN EN FIN FINAN ANCIA CIAL L RESUL RESULTS TS (ZAR (ZAR)

Mediclinic International Ltd 81 Interim Results | 30 September 2012

ZAR million HY2013 HY2012 % change Revenue 5,446 5,001 9% Normalised EBITDA 1,152 1,070 8% Depreciation 285 268 6% Net finance charges 625 605 3% Tax 135 128 5% Attributable income 107 69 55% Average exchange rate 8.63 8.25 Spot exchange rate 8.85 8.96 ZAR million 30 Sep 12 31 Mar 12 % change Total interest-bearing debt 21,461 20,722 4% Total assets 41,853 39,767 5%

EMIRA EMIRATE TES HEAL S HEALTHCA THCARE RE FIN FINAN ANCIA CIAL L RESUL RESULTS TS (AED (AED)

Mediclinic International Ltd 82 Interim Results | 30 September 2012

AED million HY2013 HY2012 % change Revenue 519 406 28% Normalised EBITDA 110 63 75% Depreciation 23 24

• 4%

Net finance charges 7 8

• 13%

Minority interests 39 15 160% Attributable income 41 16 156% Normalised EBITDA margin 21.2% 15.6% AED million 30 Sep 12 31 Mar 12 % change Total interest-bearing debt 63 210

• 70%

Total assets 931 931 0%

EMIRA EMIRATE TES HEAL S HEALTHCA THCARE RE FIN FINAN ANCIA CIAL L RESUL RESULTS TS (ZAR (ZAR)

Mediclinic International Ltd 83 Interim Results | 30 September 2012

ZAR million HY2013 HY2012 % change Revenue 1,158 771 50% Normalised EBITDA 245 120 104% Depreciation 52 45 16% Net finance charges 17 14 21% Minority interests 87 30 190% Attributable income 89 31 187% Average exchange rate 2.23 1.90 Spot exchange rate 2.26 2.20 ZAR million 30 Sep 12 31 Mar 12 % change Total interest-bearing debt 143 439

• 67%

Total assets 2,103 2,138

• 2%

MEDIC MEDICLINIC LINIC GR GROU OUP CO CONSOLID NSOLIDATE TED FIN FINAN ANCIA CIAL L RESUL RESULTS TS

Mediclinic International Ltd 84 Interim Results | 30 September 2012

ZAR million HY2013 HY2012 % change Revenue 11,734 10,467 12% Normalised EBITDA 2,486 2,179 14% Depreciation 468 436 7% Operating profit 2,018 1,743 16% Net finance charges 779 766 2% Profit before tax 1,422 948 50% Tax 358 357 0% Profit after tax 1,064 591 80% Normalised headline earnings 706 484 46% Normalised HEPS (cents) 112.1 77.2 45% Issued shares (weighted average) (m) 629 627 0% Normalised EBITDA margin 21.2% 20.8%

All statements other than those of historical facts included in this presentation are forward-looking statements. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, currency fluctuations, increased operational and capital costs, political and operational risks, governmental regulation and judicial outcomes. The Company gives no guarantees or warranties that any of the future events, expectations or results referred to in the forward-looking statements will happen or materialise. The Company also does not undertake any obligation to release publicly any revisions to any “forward-looking statement” to reflect events and circumstances after the date of this presentation, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

DISCLAIMER

Mediclinic International Ltd 85 Interim Results | 30 September 2012