26 May - 4 min read

Mediclinic full-year results for the year ended 31 March 2021

Mediclinic full-year results for the year ended 31 March 2021

Mediclinic International plc
Incorporated in England and Wales
Company Number: 08338604
LSE Share Code: MDC
JSE Share Code: MEI
NSX Share Code: MEP
ISIN: GB00B8HX8Z88
LEI: 2138002S5BSBIZTD5I60
South African income tax number: 9432434182
("Mediclinic", or the "Company", or the "Group")

MEDICLINIC FULL-YEAR RESULTS FOR THE YEAR ENDED 31 MARCH 2021

DELIVERING A ROBUST OPERATING PERFORMANCE WHILE CONTINUING STRATEGY
EXECUTION

GROUP FINANCIAL RESULTS

    -   FY21 revenue down 3% to £2 995m; down 1% in constant currency; significantly impacted in
        April 2020 by COVID-19-related lockdown measures and non-urgent elective procedure
        restrictions
    -   FY21 adjusted EBITDA down 21% at £426m; down 20% in constant currency; reflecting
        revenue impact, largely fixed employee cost base and escalation in protective personal
        equipment costs and staffing requirements due to isolation and quarantine regulations
    -   As restrictions eased elective procedures recovered driving 2H21 year-on-year revenue
        growth of 1%; EBITDA down 12% in 2H21 as the Group adapted to the pandemic
    -   Adjusted operating profit down 32% at £221m; reported operating profit up 214% to £209m
    -   Reported earnings of £68m (FY20: loss of £320m)
    -   Adjusted earnings per share down 43% at 13.7 pence
    -   Reported earnings per share 9.2 pence (FY20: loss of 43.4 pence)
    -   Headline earnings per share 9.6 pence (FY20: 26.9 pence)
    -   Cash conversion 77% of adjusted EBITDA (FY20: 109%) improved in 2H21 compared with
        42% at 1H21
    -   FY21 capital investment down 34% to £126m due to COVID-19-related operational
        constraints and priority to maintain liquidity
    -   Cash and available facilities increased to £679m at 31 March 2021, compared with £661m at
        30 September 2020
    -   Net incurred debt reduced to £1 483m at year-end (FY20: £1 622m)
    -   Compliant with all waived and effective debt covenants at year-end
    -   Dividend remains suspended as part of the Group's broad response to maintaining its liquidity
        position (FY20: 3.20 pence)

FURTHER INFORMATION
The contents of this short-form announcement are the responsibility of the Board of Directors of the
Company. This announcement represents a summary of the information contained in the unabridged
results announcement. Any investment decisions by investors and/or shareholders should be based
on a consideration of the unabridged announcement. The unabridged announcement can be
accessed on the following JSE link:

https://senspdf.jse.co.za/documents/2021/JSE/ISSE/MEIE/MEIFY21.pdf

The announcement is also published on www.mediclinic.com and available for inspection at the
registered office of the Company and the offices of the Company’s sponsor at no charge, during
normal business hours.

CORPORATE INFORMATION

LISTINGS
The Company’s primary listing is on the London Stock Exchange in the United Kingdom, with
secondary listings on the JSE in South Africa and the Namibian Stock Exchange in Namibia.
                                              
DIRECTORS
Inga Beale DBE (ind ne) (Chair) (British), Dr Ronnie van der Merwe (Group Chief Executive Officer)
(South African), Jurgens Myburgh (Group Chief Financial Officer) (South African), Alan Grieve (Senior
Independent Director) (British and Swiss), Dr Muhadditha Al Hashimi (ind ne) (Emirati), Jannie
Durand (ne) (South African), Dr Felicity Harvey CBE (ind ne) (British), Danie Meintjes (ne) (South
African), Dr Anja Oswald (ind ne) (Swiss), Trevor Petersen (ind ne) (South African), Tom Singer (ind
ne) (British), Steve Weiner (ind ne) (American), Pieter Uys (alternate to Jannie Durand) (South
African)

COMPANY SECRETARY
Link Company Matters Limited (previously named Capita Company Secretarial Services Limited)

REGISTERED OFFICE
Mediclinic International plc
6th Floor, 65 Gresham Street
London, EC2V 7NQ, United Kingdom
Tel: +44 333 300 1930
Email: info@mediclinic.com
Website: www.mediclinic.com

TOLL-FREE ETHICS LINES AND EMAIL
Switzerland
Tel: 0800 005 316
South Africa
Tel: 0800 005 316
MTC Networks: 081 91847
Namibia
Tel: 0800 003 313
The United Arab Emirates
Tel: 800 1 55000

Email: mediclinic@tip-offs.com

REGISTRAR/TRANSFER SECRETARIES
UK
United Kingdom Computershare Investor Services PLC
SOUTH AFRICA
Computershare Investor Services (Pty) Ltd
NAMIBIA
Transfer Secretaries (Pty) Ltd

CORPORATE ADVISORS

AUDITOR
PricewaterhouseCoopers LLP, London

CORPORATE BROKER AND SPONSORS
UK
Joint corporate brokers: Morgan Stanley & Co International plc and UBS Investment Bank
South Africa
JSE sponsor: Rand Merchant Bank (a division of FirstRand Bank Limited)
Namibia
NSX sponsor: Simonis Storm Securities (Pty) Ltd

26 May 2021




                                         

Date: 26-05-2021 08:00:00
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