Presentation: H1 2023 MedLife Group Financial Results

hyper clinics | hospitals | maternities |

laboratories | excellence centers | pharmacies

SISTEMUL MEDICAL

H1 2023 Financial Results

Presentation

25 August 2023

www.medlife.ro/www.medlifeinternational.com

Legal Disclaimer

This presentation is not, and nothing in it should be construed as, an offer, invitation or recommendation in respect of Med Life SA's securities, or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy Med Life SA's securities.

Neither this presentation nor anything in it shall form the basis of any contract or commitment. This presentation is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor.

All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate.

Med Life SA has prepared this presentation based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein.

These projections should not be considered a comprehensive representation of Med Life SA's cash generation performance.

This report may contain forward-looking statements. These statements reflect Med Life SA's current knowledge and its expectations and projections about future events and may be identified by the context of such statements or words such as "anticipate," "believe", "estimate", "expect", "intend", "plan", "project", "target", "may", "will", "would", "could" or "should" or similar terminology.

These financial projections are preliminary and subject to change; Med Life SA undertakes no obligation to update or revise these forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Inevitably, some assumptions may not materialize, and unanticipated events and circumstances may affect the ultimate financial results. Projections are inherently subject to substantial and numerous uncertainties and to a wide variety of significant business, economic and competitive risks.

Therefore, the final results achieved may vary significantly from the forecasts, and the variations may be material.

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AGENDA

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Highlights 6m 2023

Financial overview

Q&A Session

• Key messages and outlook
• Consolidated Statement of Profit and Loss
• Consolidated Statement of Financial Position
• Consolidated Statement of Cash Flow

Highlights 6m 2023

• Key messages and Outlook

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hyper clinics | hospitals | maternities |

laboratories | excellence centers | pharmacies

Keymessagesandoutlook

• first semester characterized by good performance across all business lines, with a 27% increase in revenues compared to H1 2022;
• Robust organic growth of 12% despite still difficult macroeconomic environment;
• top performers in terms of revenue growth being clinics (+41%), hospitals (+36%) and the corporate division (+13%), followed by dental clinics and laboratories with growth rates of 11% and 9% respectively;
• In the first semester we had several expansion projects, such as the opening of a Hyperclinic in Deva, 2 new oncology centers in Braila and Valcea, the completion of the M&A transactions with Muntenia Hospital and Nord (Provita Medical Group) and 2 small M&A transactions completed by Sfanta Maria Group;
• In terms of profitability, the Group records a slight decrease in EBITDA margin, from 15.8% in the first semester of the previous year to 15.2% in the same period of 2023. However, a less pronounced seasonal decrease is noted in the second quarter compared to the first quarter of the year, in comparison to 2022. At the same time, there is also an increase in profitability compared to the second semester of the previous year, thus underlining the stability and positive direction of the Group;
• In terms of net result, Q2 IFRS loss is due to increased depreciation and financial result;
• Increased depreciation expense on the back of constant increase in assets base - organic investments at the beginning of investment cycle, that will come with EBITDA and positive impact on the longer run (i.e. new oncology centers, medical imaging equipment and robots);
• Increased finance cost due to adjustments in EURIBOR with more than 1 p.p.; according to Euribor evolution and forecasts, we don`t expect additional important adjustments for the end of this year, a slight decrease by the end of next year is anticipated;

	1. About us	2. Highlights Q1 2023		3. Financial overview	5