Financials Cleopatra Hospitals Group S.A.E.

Equities

CLHO

EGS729J1C018

Healthcare Facilities & Services

End-of-day quote Egyptian Exchange Other stock markets 18:00:00 2024-05-06 EDT			5-day change	1st Jan Change
6.16 ^EGP	-1.28%		-0.65%	+30.51%

03-17	Cleopatra Hospitals Group S.A.E. Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	Cleopatra Hospitals Group S.A.E. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	9,648	7,616	7,784	7,685	6,822	8,904	-	-
Enterprise Value (EV) ¹	8,865	7,076	7,210	7,865	6,822	10,450	10,304	9,414
P/E ratio	43.1 x	31.7 x	20.3 x	26.1 x	21.5 x	17.3 x	13.9 x	10.1 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	5.37 x	3.83 x	3.05 x	2.94 x	1.9 x	1.99 x	1.6 x	1.27 x
EV / Revenue	4.93 x	3.56 x	2.83 x	3.01 x	1.9 x	2.34 x	1.85 x	1.34 x
EV / EBITDA	25.6 x	13.1 x	9.45 x	11.1 x	8.63 x	9.52 x	7.33 x	5.56 x
EV / FCF	121 x	-30 x	19.7 x	-	-	-65.7 x	126 x	18 x
FCF Yield	0.83%	-3.33%	5.08%	-	-	-1.52%	0.79%	5.56%
Price to Book	5.27 x	3.69 x	3.81 x	4.53 x	-	3.32 x	2.76 x	2.22 x
Nbr of stocks (in thousands)	1,600,000	1,600,000	1,582,082	1,444,464	1,445,434	1,445,434	-	-
Reference price ²	6.030	4.760	4.920	5.320	4.720	6.160	6.160	6.160
Announcement Date	20-03-12	21-03-21	22-03-20	23-03-20	24-03-17	-	-	-

¹EGP in Million²EGP

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,798	1,990	2,549	2,614	3,595	4,467	5,570	7,036
EBITDA ¹	346.1	539.6	763.2	709.3	790.7	1,098	1,405	1,694
EBIT ¹	281.1	349.5	509.5	444.1	650.8	901.7	1,114	1,368
Operating Margin	15.63%	17.57%	19.99%	16.99%	18.1%	20.19%	20.01%	19.44%
Earnings before Tax (EBT) ¹	367.5	396.2	534.6	449.7	609.1	813	890	-
Net income ¹	257.4	286.9	387.2	325.8	418.2	524	639	801
Net margin	14.32%	14.42%	15.19%	12.46%	11.63%	11.73%	11.47%	11.38%
EPS ²	0.1400	0.1500	0.2420	0.2036	0.2200	0.3564	0.4432	0.6092
Free Cash Flow ¹	73.17	-235.9	366	-	-	-159	81.7	523
FCF margin	4.07%	-11.86%	14.36%	-	-	-3.56%	1.47%	7.43%
FCF Conversion (EBITDA)	21.14%	-	47.96%	-	-	-	5.81%	30.88%
FCF Conversion (Net income)	28.42%	-	94.52%	-	-	-	12.79%	65.29%
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	20-03-12	21-03-21	22-03-20	23-03-20	24-03-17	-	-	-

¹EGP in Million²EGP

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q3	2023 Q4	2024 Q1
Net sales ¹	-	1,063	1,108
EBITDA ¹	-	194.4	276
EBIT	-	-	-
Operating Margin	-	-	-
Earnings before Tax (EBT)	-	-	-
Net income ¹	119.7	107.2	139
Net margin	-	10.08%	12.55%
EPS	0.0900	-	-
Dividend per Share	-	-	-
Announcement Date	23-11-26	24-03-17	-

¹EGP in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	181	-	1,546	1,400	510
Net Cash position ¹	783	540	574	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	0.255 x	-	1.408 x	0.9965 x	0.3014 x
Free Cash Flow ¹	73.2	-236	366	-	-	-159	81.7	523
ROE (net income / shareholders' equity)	15%	14.7%	17.4%	15.3%	-	19.7%	19.1%	24.4%
ROA (Net income/ Total Assets)	10.4%	10.5%	12.5%	9.7%	-	10%	9.34%	-
Assets ¹	2,483	2,725	3,108	3,358	-	5,240	6,842	-
Book Value Per Share ²	1.140	1.290	1.290	1.170	-	1.850	2.230	2.770
Cash Flow per Share ²	0.2600	0.0900	0.4100	0.2000	-	0.5000	0.7500	0.9700
Capex ¹	349	408	282	332	-	993	992	-
Capex / Sales	19.43%	20.5%	11.07%	12.69%	-	22.23%	17.81%	-
Announcement Date	20-03-12	21-03-21	22-03-20	23-03-20	24-03-17	-	-	-

¹EGP in Million²EGP

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for Cleopatra Hospitals Group S.A.E.

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

6.16 EGP

Average target price

7.54 EGP

Spread / Average Target

+22.40%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Hospitals, Clinics & Primary Care Services

	1st Jan change	Capi.
CLEOPATRA HOSPITALS GROUP S.A.E.	+30.51%	187M
AIER EYE HOSPITAL GROUP CO., LTD.	-18.39%	17.03B
BANGKOK DUSIT MEDICAL SERVICES	+4.50%	12.61B
IHH HEALTHCARE	+4.48%	11.73B
APOLLO HOSPITALS ENTERPRISE LIMITED	+2.50%	10.17B
RAMSAY HEALTH CARE LIMITED	-2.68%	7.81B
MOUWASAT MEDICAL SERVICES COMPANY	+22.36%	7.25B
THE ENSIGN GROUP, INC.	+4.39%	6.66B
GLOBAL HEALTH LIMITED	+47.50%	4.51B
BURJEEL HOLDINGS PLC	-5.47%	4.27B

Hospitals, Clinics & Primary Care Services