Mediclinic eyes annual growth in EBITDA across all three of its divisions
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Mediclinic International, the private hospital group, said yesterday that the group expected to deliver growth in revenue and earnings before interest, taxes, depreciation and amortisation (Ebitda), across all three divisions in the financial year ending March, 31, 2022, given the strong underlying demand for its broad range of services across the continuum of care.
Year-to-date operating performance was in line with expectations based on the previously disclosed full year 2022 guidance. In full year 2022, pre-Covid-19 seasonal trends, which impacted operating performance were expected to return and be reflected in the half-year results of Hirslanden and Mediclinic Middle East.
With the ongoing pandemic, varied pace of vaccine roll-outs and planning assumptions of further waves and variants are causing continued uncertainty on the shape of the recovery.
Mediclinic said it remained cautious as to the full impact of Covid-19 on near-term operating performance. In line with the outlook statement provided as part of the 2021 financial year results, and given the group’s focus on operational and cost efficiencies, it did not anticipate any long-term structural impediments in returning Ebitda margins at Hirslanden and Mediclinic Southern Africa to pre-pandemic levels.
At Mediclinic Middle East, the group expected margins to continue to gradually increase as it grew its presence across the region, supported by recent expansion and upgrade projects in Dubai and Abu Dhabi.