Integrated Diagnostics : Presentation for 1Q2024 results

IDH Results Presentation

June 2024

Table of

Contents

IDH At a Glance

Q1 2024 Results Overview

Key Investment Highlights

Our Market

Our Business Model

Financial Position and Performance

Growth Strategies

Governance

Who We Are (I/II)

Integrated Diagnostics Holding is a leading, fully-integrated provider of high-quality medical diagnostic services with a

footprint spanning Egypt, Jordan, Nigeria, Sudan, and Saudi Arabia

An integrated diagnostics provider…

Pathology

Radiology

Immunology

Microbiology

Haematology

Endocrinology

PET-CT

Mammography

Electromyography

MRI

Ultrasound

Electroencephalography

Clinical

Molecular

Parasitology

Histopathology

Genetics

CT

X-Ray

Electrocardiogram

Chemistry

Biology

…with a suite of internationally-accredited,market-leading brands

Our Brands

Our Accreditations

21%

Shareholding

52%

Structure

27%

Hena Holdings Ltd

Actis IDH B.V.

Free Float

3 INTEGRATED DIAGNOSTICS HOLDINGS

Who We Are (II/II)

The Company's reach, scale, and service quality are unmatched across its markets of operation

Track Record

+40 years

First lab established in 1979

Patients

c.10 MN

Per year

Tests

c.30 MN

Per year

Market Reach

587 Branches

As at 31 March 2024

Accreditations

CAP & ACR

Accredited lab and scan

Test Portfolio

+3,000

Tests

Dual-listing

LSE in 2015 | EGX in 2021

Nigeria

Sustainable Growth

19%

Revenue CAGR 2015-23

Jordan

Egypt

Saudi

Arabia

Sudan

4 INTEGRATED DIAGNOSTICS HOLDINGS

Our Service Segments

IDH's pathology offering currently contributes the lion share of revenue and patients with 94%.

The Company's radiology services in Q1 2024 recorded a 12% increase over Q1 2023.

Pathology - 94% of Revenues1

Radiology - 6% of Revenues1,2

Through IDH's brands, the Group offers over 3,000 internationally

IDH offers a vast array of radiology services through Al Borg Scan in Egypt

accredited pathology tests ranging from basic blood glucose tests for

and Echo-Lab in Nigeria. Al Borg Scan is also the sole radiology provider

diabetes to advanced molecular testing for genetic disorders.

in Africa boasting the prestigious American College of Radiology (ACR)

accreditation, a testament to the high-quality services delivered by the

venture.

568

1979

c. 10mn

c. 30mn

19

2018

c. 1.3mn

c. 2.0mn

Pathology

Year

Patients served

Tests performed

Radiology

Year

Patients served

Scans conduced

branches

launched

each year

each year

branches

launched

since inception

since inception

Competitive Strengths

Competitive Strengths and Strategic Advantages

Visibility and

Scalable

Diversify and

Deliver on one-

Track

Reach and

Established

High-fragment

Record

scale across

Reputation

Business

platform to

and fast-

Grow Revenue

stop-shop

attractive

Model

build on

growing market

Streams

vision

markets

An integrated offering catering to patients' evolving needs

1. Share of IDH Q1 2024 consolidated revenue.
2. Radiology revenues are calculated as Echo-Lab (IDH's Nigerian subsidiary) revenues plus Al-Borg Scan revenues (Egypt's radiology business).

5 INTEGRATED DIAGNOSTICS HOLDINGS

Our Geographies

IDH currently operates the largest branch network amongst private providers in Egypt and boasts an established

presence in four key markets in the Middle East and Africa

Egypt		Jordan		Nigeria	Saudi Arabia

1979

546

2011

27

2018

12

2024

2

First began

Branches (51% in

Acquisition

Branches

Acquisition of Echo-

Branches

Commenced Biolab

Branches

operations

Cairo Region)

of Biolab

Lab

KSA operations

#1

84.5%

#1

14.1%

Top 5

1.3%

4

0.1%

Market Ranking1 (#1

Share of consolidated

Market Ranking1

Share of consolidated

Market Ranking

Share of consolidated

New Branches

Share of consolidated

in Corporate

revenues in Q1 2024

revenues in Q1 2024

revenues in Q1 20242

Planned by End of

revenues in Q1 2024

Insurance Sector)

2024

1,923 k

8,059 k

85 k

566 k

30 k

56 k

0.2 k

2.4 k

Patients served

Tests performed

Patients served

Tests performed

Patients served

Tests performed

Patients served

Tests performed

in Q1 2024

in Q1 2024

in Q1 2024

in Q1 2024

in Q1 2024

in Q1 2024

in Q1 2024

in Q1 2024

1. Market ranking amongst private players in each respective country.
2. Includes Dynasty expenses.

6 INTEGRATED DIAGNOSTICS HOLDINGS

Our Patients

IDH serves two principal types of patients: contract and walk-in

Around 70% of total revenue generated across the two segments is paid in cash

Contract Patients1		Walk-In Patients

IDH's contract clients include institutions who enter into one-year renewable contracts at agreed rates per-testand on a per-clientbasis. Around 40% of the revenue generated by the segment is paid in cash. IDH's corporate clients roster currently features institutions such as:

• Unions
• Syndicates
• Private and public insurance companies
• Banks and corporations
• Public institutions
• Government insurance

IDH's walk-in clients, also referred to as "self-payers",pay out of pocket for diagnostic tests and other services.

Contribution to IDH Revenues (Q1 2024)

34% EGP

1,171

mn 66%

	Contract Revenues		Walk-in Revenues

1 Testing prices at the contract segment are generally lower than those of the walk-in segment and are not pre-set as with walk-in testing

7 INTEGRATED DIAGNOSTICS HOLDINGS

Patient Split by Segment (Q1 2024)

19%

2.0 mn

patients

81%

Contract Patients		Walk-in Patients

Q1 2024

Results

Overview

A Turbulent Operating Environment

IDH continues to post impressive financial and operational results despite difficult economic

circumstances across its markets

Devaluation of the EGP in March 2024 leading to a rate of 47.3

EGP/USD

47.3

24.2	24.6	24.8	30.2	30.7	30.8		30.9	30.9	30.9	30.9	30.9	30.9	30.9	30.9	30.9	30.9	30.9

Stabilizing inflation rates in Egypt after a year of rising prices

																																								33.3%
																							37.4%			38.0%
																						36.5%			35.8%
																		35.7%					34.6%							35.7%
									32.7%				32.8%			33.7%
								31.9%
18.7%	21.3%	25.8%			30.6%	29.8%

Depreciating Nigerian Naira held back by rising interest rates	Nigeria inflation continues, expected to stabilize due to new
	Central Bank measures

																														33.2%
																1,617	1,357													31.7%
438	443	448	461	460	460	460	462	754	760	766	768	785	790	881	1,192	1,303	21.9%	22.0%	22.2%	22.4%	22.8%	24.1%	25.8%	26.7%	27.3%	28.2%	28.9%	29.9%
																		Feb-23Mar-23Apr-23May-23Jun-23	Jul-23	Aug-23Sep-23Oct-23Nov-23Dec-23Jan-24Feb-24Mar-24

9 INTEGRATED DIAGNOSTICS HOLDINGS

Q1 2024 Results Snapshot (I/II)

IDH recorded positive consolidated revenue growth, even when including significant contributions from Covid-19

testing in the comparable period

EGP 1,171 mn		EGP 428 mn		EGP 330 mn		EGP 402 mn
Revenue in Q1 2024		Gross Profit in Q1 2024		EBITDA1 in Q1 2024		Net Profit2 in Q1 2024
▲ 28% y-o-y revenue growth		▲ 32% y-o-y		▲ 45% y-o-y		▲ 139% y-o-y
		37% margin vs. 35% in Q1 2023		28% margin vs. 25% in Q1 2023		34% margin vs. 18% in Q1 2023

8.7 mn		2.0 mn		EGP 135	5873
Tests completed in Q1 2024		Patients served in Q1 2024		Average revenue per test in Q1 2024	Operational branch labs as at 31 Mar. 2024
▲ 8% y-o-y test volume growth		▲ 5% y-o-y		▲ 18% y-o-y	▲ 11 branches vs. 31 Mar. 2023

Revenue Drivers Q1 2024

Revenue Breakup Q1 2024

94.4%

+28%

0.1%

1.3%

Revenue

84.5%

Revenue

Revenue

14.1%

by Geography

33.8% by Patient Type 66.2%

by Segment4

5.6%

Egypt

Jordan

Nigeria

Saudi Arabia

Walk-In

Contract

Pathology

Radiology

1. EBITDA is calculated as operating profit plus depreciation and amortization
2. Excluding foreign exchange gains, IDH recorded an adjusted net profit of EGP 100.3 million compared to EGP 59 million in Q1 2023 and yielding a net profit margin of 9% (vs. 6% one year prior).
3. IDH rolled out 27 new branches in Egypt, 1 in Jordan, and 2 in KSA during the past 12-month period.

It is important to note that due to the ongoing conflict in Sudan, IDH's 18 branches in the country have been shut down, leading to a net growth in its branch network of only 12 branches.

4 Radiology revenues are calculated as revenues from Al-Borg Scan plus Nigeria revenues

10 INTEGRATED DIAGNOSTICS HOLDINGS

16%

House Call

Services

Contribution3

84%

House Call Services