Last checked at 18 Feb 2021 12:25
THIS ANNOUNCEMENT INCLUDES INSIDE INFORMATION.
Integrated Diagnostics Holdings plc
Trading update for the year ended 31 December 2020
18 February 2021
(London) Integrated Diagnostics Holdings ("IDH," "the Group," or "the Company"), a leading consumer healthcare company with operations in Egypt, Jordan, Sudan and Nigeria, released today a trading update for the year ended 31 December 2020 based on its unaudited financial results.
IDH expects to report revenues of approximately EGP 2.6 billion (ahead of previous management guidance of EGP 2.3 to 2.4 billion) with an EBITDA[1] margin in excess of 40%.
"IDH's strong performance in 2020 reflects the resilience of our business model and management's ability to swiftly adapt our service offering to changing dynamics," said Chief Executive Officer Dr. Hend El-Sherbini. "Following Covid-19-related disruptions early in the year, starting in the second half of 2020 we witnessed accelerated top-line growth which culminated in a robust fourth quarter as the business captured strong consumer demand across its portfolio. The return to double digit revenue growth for the year reinforces management's confidence in the strong fundamentals of our geographies and of our well-established position within these markets."
The Company's full-year and 4Q2020 results will reflect strong contribution from PCR and Covid-19-related[2] testing in Egypt and Jordan and the ramping up of IDH's house call services in both countries.
-Ends-
About Integrated Diagnostics Holdings (IDH)
IDH is a leading consumer healthcare company in the Middle East and Africa with operations in Egypt, Jordan, Sudan and Nigeria. The Group's core brands include Al Borg, Al Borg Scan and Al Mokhtabar in Egypt, as well as Biolab (Jordan), Ultralab and Al Mokhtabar Sudan (both in Sudan) and Echo-Lab (Nigeria). A long track record for quality and safety has earned the Company a trusted reputation, as well as internationally recognised accreditations for its portfolio of over 1,400 diagnostics tests. From its base of 471 branches as of 30 September 2020, IDH will continue to add laboratories through a Hub, Spoke and Spike business model that provides a scalable platform for efficient expansion. Beyond organic growth, the Group's expansion plans include acquisitions in new Middle Eastern and African markets where its model is well-suited to capitalise on similar healthcare and consumer trends and capture a significant share of fragmented markets. IDH has been a Jersey-registered entity with a Standard Listing on the Main Market of the London Stock Exchange (ticker: IDHC) since May 2015.
The person responsible for arranging the release of this announcement is Nancy Fahmy, Investor Relations Director.
Contact
Nancy Fahmy
Investor Relations Director
T: +20 (0)2 3345 5530 | M: +20 (0)12 2255 7445 | nancy.fahmy@idhcorp.com
[1] EBITDA is calculated as operating profit plus depreciation and amortization
[2] Covid-19-related tests include antibody testing as well as a bundle of inflammatory and clotting markers such as Complete Blood Picture, ESR, D-Dimer, Ferritin and CRP, among others.