Last checked at 23 Nov 2015 07:00
Integrated Diagnostics Holdings PLCReports Update on 9M 2015 Results
EGP 745 mn in total sales ▲19% | 45% normalized EBITDA margin ▲2pps |
17.2 mn tests completed▲7% | 4.3 mn patients served▲6% |
Jersey, 23 November 2015
Integrated Diagnostics Holdings PLC ('IDH'), IDHC on the London Stock Exchange, Egypt's largest fully integrated private-sector provider of medical diagnostics services, released today unaudited highlights of its financial and operational performance in the first nine months of 2015, reporting a 19% rise in total unaudited revenues to EGP 745 million.
As per management accounts, the company reported an unaudited, normalised EBITDA margin of 45% in 9M2015, up two percentage points from the same period in 2014.
"By the terms regulating the company's listing on the LSE, IDH is required to release audited financials only at the half- and full-year marks. Management and the Board of Directors have committed to providing performance updates in the first and third quarters as an outgrowth of our commitment to transparency," said Chief Executive Officer Dr. Hend El-Sherbini.
"Against this backdrop, I am very pleased to report that we continue to execute on target according to our previously communicated guidance. We have fully moved into our new central Megalab facility and opened eight new 'C' labs in the third quarter, bringing our total network to 308 as of 30 September 2015," said El-Sherbini.
The Megalab is a key component of the company's growth strategy going forward. It will permit the widening and deepening of the Group's footprint through the rollout of new, capital-efficient 'C' labs (primarily collection centres in areas convenient to clients); allow the pursuit of new business by taking on outsourced work for hospitals and third-party labs; facilitate regional expansion; and see IDH introduce more esoteric tests. Management is presently preparing to secure CAP (College of American Pathologists) accreditation for the Megalab.
"Heading into the final quarter of the year, we are fully focused on operations as we continue to roll out our proven 'hub, spoke and spike' strategy in a very exciting, fragmented and under-served market," concluded El-Sherbini. "Egypt is an exceptionally exciting market, and we look forward to creating superior shareholder value by focusing on the long-term."
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About Integrated Diagnostics Holdings (IDH)
IDH is the largest fully integrated private-sector medical diagnostics services provider in Egypt, comprehensively offering pathology, molecular diagnostics, surgical pathology, genetic testing and basic radiology. IDH's core brands include Al Borg and Al Mokhtabar in Egypt, as well as Biolab (Jordan), Ultralab and Al Mokhtabar Sudan (both in Sudan) the and Medical Genetics Centre, both of which operate in Egypt. IDH is listed on the London Stock Exchange (ticker: IDHC) and was founded in 2012 by the merger of Al Borg and Al Mokhtabar, the most established diagnostics services brands in Egypt. Learn more at idhcorp.com.
Shareholder Information
LSE: IDHC.L
Bloomberg: IDHC:LN
Listed: May 2015
Shares Outstanding: 150 million
Contact
Mr. Sherif El-Ghamrawi
Investor Relations Director
T: +20 (0)2 3345 5530 | M: +20 (0)10 0447 8699 | sherif.elghamrawi@idhcorp.com
Forward-Looking Statements
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