NMC Health Plc Capital Markets Day & Positively Revised Guidance (6831E)
October 22 2018 - 2:00AM
UK Regulatory
TIDMNMC
RNS Number : 6831E
NMC Health Plc
22 October 2018
22 October 2018
NMC Health plc
(the "Company" or "NMC")
Capital Markets Day and Positively Revised Guidance
NMC Health plc (LSE: NMC), the leading private healthcare
operator in the Gulf Cooperation Council (GCC) with international
services across 17 countries, announces that the Company will be
holding a Capital Markets Day today at the London Stock
Exchange.
Prashanth Shenoy, Chief Financial Officer of NMC Health, will
provide an update on guidance given in January, following positive
developments in the second half of 2018. As a result, we now
anticipate an increase of 2% in revenue growth from 22% to 24% and
an increased EBITDA guidance from $465m to $480m by year-end
2018.
2019 guidance will also point towards continuation of strong
organic growth on the back of sustained ramp-up at key facilities,
integration and expansion of acquired entities as well as strong
operational performance. Revenues are forecast to increase by
22-24% and EBITDA is expected to increase by 18-20%. 2019 guidance
does not include the effects of implementation of IFRS 16. The
guidance also does not reflect the impact of anticipated financial
consolidation of National Medical Care Company. An update in this
regard will be provided once the joint-venture with Hassana/GOSI
has been formalized, which is on track for completion during Q4
18.
During the year 2019, management also anticipates: 1) opening of
new greenfield facilities, particularly in UAE, 2) continued
ramp-up of various facilities across multiple geographies and 3)
full-year consolidation of Aspen Healthcare, all of which will
impact EBITDA margin.
Management remains confident on the longer-term margin guidance
for the Company and NMC remains on track to achieve 25% EBITDA
margin by 2020/2021.
Contacts
Investors:
NMC Health
Asjad Yayha, Investor Relations +971 56 219 0975
Anurag Kashyap, VP Corporate Affairs +971 56 506 1147
Media:
FTI Consulting, London
Brett Pollard +44 203 727 1000
FTI Consulting, Gulf
Shane Dolan +971 4 437 2100
About NMC Health
NMC the leading private healthcare operator in the GCC with an
international network of hospitals across 17 countries. NMC also
ranks as one of the top 3 in-vitro fertilisation ("IVF") operators
globally. The Group is also a leading provider of long-term medical
care in the UAE through its subsidiary ProVita. Pursing an
aggressive international expansion program from 2016, the company
now has over 34% of its licensed bed capacity in the Kingdom of
Saudi Arabia (KSA), where the company has introduced long-term and
multi-specialty care services. Moreover, the recent formation of a
joint venture with GOSI/Hassana Investment Company is set to
substantially boost the Group's bed capacity in KSA, with the JV
expected to be the second largest healthcare operator in the
Kingdom in terms of number of beds. NMC received over 5.7m patients
in 2017. The Group is also a leading UAE supplier of products and
consumables across several key market segments, with the major
contribution coming from healthcare related products. The Group
reported revenues of US$1.6 billion for the year ended 31 December
2017.
In April 2012 NMC was listed on the Premium Segment of the
London Stock Exchange. NMC is a constituent of the FTSE 100
Index.
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END
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