NMC Health Plc Capital Markets Day & Positively Revised Guidance (6831E)

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         [phone] 
 Anurag Kashyap, VP Corporate Affairs    [phone] 
 
 Media: 
 FTI Consulting, London 
 Brett Pollard                           [phone] 
 
 FTI Consulting, Gulf 
 Shane Dolan                             [phone] 
 

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

MSCFEFFMFFASEIS

(END) Dow Jones Newswires

October 22, 2018 02:00 ET (06:00 GMT)