Strategic Roadmap and Financial Performance
Key Highlights | Strong Performance, Underlying Growth
1
Total income grew 12% to AED 46.9 MN in 1Q-2022 vs. the AED 42.0 million recorded in 1Q-2021.
On an adjusted basis, excluding the prior year result from divested entities total income grew 40% to
AED 46.9 MN vs. AED 33.5 million recorded in 1Q-2021.
2
Growth of 66% year-on-year in adjusted EBITDA, to record AED 48.5 MN in 1Q-2022 vs. 29.3 MN
in 1Q-2021. Strong growth in underlying performance with adjusted Net Profit of AED 32.1 MN,
growth of AED 9.0 MN or 39% vs. AED 23.1 MN in 1Q-2021
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Healthcare platform growth of AED 11.5 MN or 5x, positively impacted by the full quarter inclusion
of CMRC (+AED 9.2 MN), 2x revenue growth at RHWC significantly reducing losses (+AED 1.7 MN or
41%) and revenue growth at Sukoon (+AED 0.3 MN)
Steady growth at the Education platform (+AED 0.9 MN or 3%), with record enrollments at
Middlesex (4k students, 16% increase and the #1 ranked private education institution in Dubai by
enrollments), driving +AED 2.5 MN or 18% growth in profitability, partly offset by post-COVID
normalization at NEMA Holding
AED 887 MN of cash at quarter end, to be utilized, with potential additional leverage, against a
strong deployment pipeline and post period dividend settlement. Facility expansion at Sukoon and
ramp-up of CMRC KSA & RHWC in progress
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