Totally Regulatory News (TLY)

20 April 2020

Totally plc

("Totally", "the Company" or "the Group")

Trading Update

The Board of Totally plc (AIM: TLY), a leading provider of a range of healthcare services across the UK, today announces an update on trading for the 12-month period ended 31 March 2020, ahead of the audited final results which are expected to be announced in July 2020.

Based on draft unaudited numbers the Group anticipates reporting EBITDA* for the year ended 31 March 2020 ahead of consensus market expectations on lower than expected revenue. Revenue is expected to be below consensus market expectations due to delays encountered with the NHS awarding new tenders primarily as a result of Brexit and the general election. However, following the acquisition of Greenbrook Healthcare in June 2019 and the launch of the Group's new insourcing business, Totally Healthcare, the Group has achieved some margin improvement and further operating efficiencies across the Group which have had a positive impact on EBITDA in the period.

As at 31 March 2020 the Company was in a healthy financial position with £8.9m of cash and no debt financing**.

Totally continues to make progress with its stated strategy and, over the course of the 12-month period, announced in excess of £30m of value in new contracts and over £20m in contract extensions across its operating subsidiaries. The Group also completed the transformational £11.5m acquisition of Greenbrook Healthcare in June 2019 and, in October 2019, launched its new insourcing business, Totally Healthcare, which is performing strongly. These activities and successes have placed the Group in a strengthened position as it enters the new financial year.

As announced on 27 March 2020, Totally is currently focusing all efforts on standing shoulder to shoulder with the NHS in the fight against COVID-19. Patient and staff wellbeing remains the Group's top priority as it continues to deliver critical front-line services across the UK and Ireland.

* EBITDA is defined as earnings before interest, tax, depreciation and amortisation and excludes one-off exceptional items

** Following the adoption of IFRS 16, the Company has reported operating lease commitments as a debt on its balance sheet however these do not affect the day to day working capital available to the Group

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Notes to Editors

Totally plc aims to become a leading healthcare service provider in the UK, helping to address some of the biggest challenges faced by the UK healthcare sector.

By working to deliver preventative and responsive care through its subsidiaries across multiple disciplines, Totally's goal is to improve people's health, reduce healthcare reliance, re-admissions and emergency admissions.

Totally, via its subsidiaries, operates within the UK's outsourced healthcare market, estimated to be worth in excess of £20bn per year for the NHS alone. Out of hospital services include care in the community, GP surgeries, patients' homes, prisons and other public sector organisations, places of work as well as mobile locations and urgent care solutions.

The Company is committed to deliver a progressive buy and build consolidation strategy within the fragmented healthcare market and is looking to further capitalise on the attractive opportunities that its disruptive, outcome-based, outsourced healthcare service model offers, to deliver value to shareholders as it continues to build critical mass.

www.totallyplc.com 

Premier Physical Healthcare and Optimum Physiotherapy - occupational physiotherapy to NHS, prisons, the police force and private clients 

Providers of a comprehensive range of treatments and advice for musculoskeletal injuries and conditions, delivering physiotherapy and podiatry to NHS patients and various police forces and prison sites, as well as providing occupational health and ergonomic services to corporate and private clients.

www.premierphysicalhealthcare.co.uk

www.optimum-hcs.com 

About Health Limited - provider of community-based dermatology services and referral management services

A leading provider of dermatology and referral management services to the NHS in the UK. About Health is CQC registered and has been providing community-based health services under contract to the NHS since 2009.

www.abouthealthgroup.com 

Vocare Limited - leading UK urgent care provider 

One of the leading national specialist providers of urgent care services in the country. Provider of healthcare services to approximately 9.2 million patients across the UK through urgent care centres, GP out-of-hours services, integrated urgent care centres and the NHS 111 service.

www.vocare.org.uk 

Greenbrook Healthcare - leading provider of NHS urgent care centres

An innovative primary care organisation caring for NHS patients across London and the home counties. The business delivers services for NHS patients in a growing number of GP Practices, walk-in centres, Urgent Care Centres and community services.

www.greenbrook.nhs.uk 

Totally Healthcare - provider of insourcing to reduce hospital waiting lists

A provider of bespoke insourcing solutions to cut patient waiting times across the UK and Ireland. Hospitals subcontract medical services/procedures to Totally Healthcare's practitioners who utilise spare capacity within the host hospitals - using their premises and equipment for service delivery to reduce waiting lists.

www.totallyhealthcarelimited.com