MLP Care#s Strong Growth Continued in the Second Quarter of 2019

Stocks and Financial Services Press Releases Friday August 9, 2019 13:00
ISTANBUL--9 Aug--PRNewswire/InfoQuest
MLP Saglik Hizmetleri A.S. (BIST: MPARK), the leading private healthcare service provider in Turkey, today announces its financial results for the second quarter and the first half of 2019.
Financial Highlights
  • In Q2 2019, revenues increased to TL889 million, up by 23% (Q2 2018: TL720 million). When revenues of managed hospitals are included, the revenue growth in Q2 2019 is at 25%. Thus, the real growth was well above the inflation rate of 15.7% in the last 12 months.
  • In Q2 2019, Adj. EBITDA increased by 21%, bringing the EBITDA margin to 15.0%. Despite rising unit costs, the Adj. EBITDA margin in Q2 2019 was maintained at similar levels in Q2 2018. Excluding other income/ (expenses) items, the EBITDA growth was at 50%.
  • Despite the good results in operations, net loss of TL42 million was recorded in Q2 2019 due to finance expenses of TL130 million.
  • The net debt/Adj. EBITDA ratio was 2.5x in H1 2019 and 2.6x after including obligations under operational leases related to IFRS 16.
Operating Highlights
  • Foreign medical tourism revenue (FMT) continued to grow rapidly with the support of strong marketing activities and increased by 62% in Q2 2019 in line with our expectations. Thus, the share of FMT in total revenue increased to 12%.
  • Contrary to the negative EBITDA effect of TL11.5 million in the first six months of last year, Pendik and Mersin hospitals recorded only TL1.4 million negative EBITDA in H1 2019.
Dr. Muharrem Usta, Chairman and Chief Executive Officer of MLP Care, commented:

"In the second quarter of 2019, we recorded real growth above inflation in both revenue and EBITDA figures. Our foreign medical tourism (FMT) revenue continues to grow parallel to our expectations with the support of our successful advertising efforts.

While the healthcare insurance market in Turkey continues to grow rapidly, the number of people with top-up insurance increased over 1 million for the first time in June 2019. It has been a source of pride for us to maintain our strong position in this market. The agreement signed with Bupa Acibadem Sigorta in April started to contribute positively to our growth trend in the private healthcare insurance segment.

In addition, we are excited to accelerate our studies in the fields of digitalisation and artificial intelligence as a result of our long-term strategy. As one of the leading companies in the healthcare sector, we believe that our efforts in these fields will be among the leading healthcare trends in our country and will inspire the sector."


We are the largest private healthcare service provider in Turkey in terms of number of hospitals, beds and geographic scope based on our footprint of 31 hospitals and more than 6,000 beds in 17 cities across the country. We treat more than 2 million people per year, with our patients primarily drawn from the upper-mid segments of the market. We provide a full range of healthcare services from gynaecology, cardiology, oncology, orthopaedics, intensive care to complex treatments such as organ and bone marrow transplants. As of June 30, 2019, we have approximately 20,000 personnel, including over 2,200 physicians, managed by a head office team which integrates field operations, sets strategy and monitors real-time performance across all 31 hospitals.

For financial reports and further information regarding MLP Care, please visit our website at or you may contact:
Dr. Deniz Can Yucel
Strategy and Investor Relations Director
T +90-212-227-5555 (Ext: 1148)
Logo -

Latest Press Release

Gavin Bambury named OANDA(R) CEO

A global leader in online multi-asset trading services and currency data and analytics, OANDA Global Corporation is pleased to announce the appointment of industry leader Gavin Bambury as Chief Executive Officer, effective Monday 26 August 2019. Based in...

Thailand Focus 2019 showcases new governments policies to reinforce confidence

The Stock Exchange of Thailand (SET) will hold the annual flagship inbound roadshow "Thailand Focus 2019: Embracing Opportunities - The Next Chapter", during August 28 – 30, 2019 in Bangkok, marking the first conference for the new government to...

SCB joins with Intelspire to help SMEs increase people management efficiency with Timemint, an advanced digital platform powered by SCB Payroll

Siam Commercial Bank (SCB) continues to expand its digital partnerships to help increase efficiency. Recently, the bank joined hands with Intelspire Co., Ltd., a Thai startup and developer of the Timemint Application, a digital platform used for people...

TMB Appoints New Chief Retail Banking Officer (CRBO)

TMB has appointed Mrs. Marie Ramlie as Chief Retail Banking Officer, effective from August 1, 2019. Marie succeeds Roel Huisman who has completed his tenure with TMB on July 31, 2019. Marie has joined TMB as Head of Retail Products since 2013. She was...

Bankruptcy Court dismisses rehab petition against GL, removes automatic stay, and finds GL is not insolvent

The Central Bankruptcy Court has dismissed the rehabilitation petition submitted by JTA against GL as the Court ruled that GL is not insolvent and that JTA's claims have not proven to be true Previously, on August 15, the Central Bankruptcy Court for the...

Related Topics