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 Interim Results | 30 September 2012 3

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 Interim Results | 30 September 2012 4

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 Interim Results | 30 September 2012 6

MEDIC MEDICLINIC LINIC SOUTHERN SOUTHERN A AFRICA FRICA FIN FINAN ANCIA CIAL L RESUL RESULTS TS 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% • 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 Interim Results | 30 September 2012 7

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: Effective rate on normalised profit HY2012 32.9% STC -4.4% Other -0.9% Effective rate on normalised profit HY2013 27.5% Mediclinic International Ltd Interim Results | 30 September 2012 8

MEDIC MEDICLINIC LINIC SOUTHERN SOUTHERN A AFRICA FRICA REVENU REVENUE 10.0 CAGR: 11.5% 9.4 8.0 8.6 7.7 CAGR: 11.2% 6.8 6.0 ZARbn 5.1 4.0 4.7 4.2 3.8 3.4 2.0 0.0 2009 2010 2011 2012 2013 Half year Full year Southern African revenue growth has remained consistent Mediclinic International Ltd Interim Results | 30 September 2012 9

MEDICLINIC MEDIC LINIC SOUTHERN SOUTHERN A AFRICA FRICA EBITD EBITDA A AN AND D MAR MARGI GIN 2.5 CAGR: 10.3% 20.8% 2.0 21.3% 2.0 21.5% 1.8 CAGR: 11.1% 21.5% 1.5 1.7 ZARbn 1.5 21.2% 21.1% 21.4% 1.0 1.1 21.4% 21.3% 1.0 0.9 0.8 0.7 0.5 0.0 2009 2010 2011 2012 2013 Half year Full year Normalised EBITDA margin remained fairly stable Mediclinic International Ltd Interim Results | 30 September 2012 10

SWIT SWITZERLAND ZERLAND HIR IRSLA SLANDEN DEN Mediclinic International Ltd Interim Results | 30 September 2012 11

HI HIRSLAND RSLANDEN EN FIN FINAN ANCIA CIAL L RESUL RESULTS TS (CH (CHF) F) 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% • 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 Interim Results | 30 September 2012 12

HI HIRSLAND RSLANDEN EN FIN FINAN ANCIA CIAL RESUL RESULTS TS (ZAR (ZAR) 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 • 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 Interim Results | 30 September 2012 13

HI HIRSLAND RSLANDEN EN REVENU REVENUE 1500 CAGR: 5.2% 1200 1,270 1,218 1,134 1,091 CAGR: 5.1% 900 CHFm 600 631 606 562 540 517 300 0 2009 2010 2011 2012 2013 Half year Full year Hirslanden has shown a steady revenue growth over the past few years Mediclinic International Ltd Interim Results | 30 September 2012 14

HI HIRSLAND RSLANDEN EN EBITD EBITDA A AN AND D MAR MARGI GIN 400 CAGR: 4.3% 320 23.4% 21.9% 23.5% 22.5% 285 278 240 266 CAGR: 4.0% CHFm 245 160 21.2% 21.4% 22.2% 22.1% 22.1% 133 129 124 120 114 80 0 2009 2010 2011 2012 2013 Half year Full year Normalised EBITDA margin was fairly stable Mediclinic International Ltd Interim Results | 30 September 2012 15

UNITED UNITED AR ARAB AB EMIRA EMIRATES TES EMIRA EMIRATES TES HE HEAL ALTH THCARE ARE Mediclinic International Ltd Interim Results | 30 September 2012 16

EMIRA EMIRATE TES HEAL S HEALTHCA THCARE RE FIN FINAN ANCIA CIAL L RESUL RESULTS TS (AED (AED) 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% • Revenue increased by 28% • Normalised EBITDA margin reached 21.2% Mediclinic International Ltd Interim Results | 30 September 2012 17

EMIRA EMIRATE TES HEAL S HEALTHCA THCARE RE FIN FINAN ANCIA CIAL L RESUL RESULTS TS (ZAR (ZAR) 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 • 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 Interim Results | 30 September 2012 18

EMIRA EMIRATE TES HEAL S HEALTHCA THCARE RE REVENU REVENUE 1000 CAGR: 38.3% 902 800 CAGR: 37.1% 681 600 AEDm 529 519 400 406 341 301 200 237 147 0 2009 2010 2011 2012 2013 Half year Full year Emirates Healthcare has shown exceptional revenue growth due to recent expansions and acquisitions Mediclinic International Ltd Interim Results | 30 September 2012 19

EMIRA EMIRATE TES HEAL S HEALTHCA THCARE RE EBITD EBITDA A AN AND D MAR MARGI GIN 250 CAGR: >100% 200 19.2% 174 CAGR: >100% 150 18.0% 21.2% AEDm 122 100 110 11.7% 15.5% 15.0% 50 63 62 5.9% 45 -0.9% 0 0% 14 0 -3 2009 2010 2011 2012 2013 -50 Half year Full year EBITDA margin increased strongly Mediclinic International Ltd Interim Results | 30 September 2012 20

CONSOLID CONSOLIDATED TED FIN FINANCIAL ANCIAL RESUL RESULTS TS Mediclinic International Ltd Interim Results | 30 September 2012 21

MEDIC MEDICLINIC LINIC GR GROU OUP SUMMA SUMMARISED RISED RESUL RESULTS TS (ZAR (ZAR) 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% • Group half-year revenue increased by 12% • Normalised headline earnings rose by 46% • EBITDA margin increased to 21.2% Note: Normalised headline earnings for the half-year include ZAR8m relating to corporate activity (HY2012: -ZAR10m) Mediclinic International Ltd Interim Results | 30 September 2012 22

REVENUE REVENU E AN ANAL ALYSIS SIS Revenue HY2013 (Rm) Revenue HY2012 (Rm) 771 1,158 7% 10% 5,130 4,695 Southern Africa 44% 45% Switzerland UAE 5,001 5,446 48% 46% Total: R11.7 billion Total: R10.5 billion Mediclinic International Ltd Interim Results | 30 September 2012 23

REVENU REVENUE E GR GROWTH WTH EX EXCH CHAN ANGE GE RA RATE TE I IMP MPACT CT 12% total growth 15,000 8% actual 3% rate growth difference Total: 11.7bn 12,000 Total: 10.8bn Total: 10.5bn 1,158 905 771 5,446 5,232 9,000 5,001 R millions 6,000 5,130 4,695 4,695 3,000 - HY2012 HY2012 (HY2013 rate) HY2013 Southern Africa Switzerland UAE Mediclinic International Ltd Interim Results | 30 September 2012 24

EBITD EBITDA A AN ANAL ALYSIS SIS EBITDA HY2013 (Rm) EBITDA HY2012 (Rm) 120 245 10% 6% 1,089 Southern Africa 989 44% 45% Switzerland UAE 1,070 49% 1,152 46% Total: R2.5 billion Total: R2.2 billion Mediclinic International Ltd Interim Results | 30 September 2012 25