Strategic Roadmap and Financial Performance
Financial Summary | Growth Across All Platforms
AED MN
1Q-21
1Q-22
Change
Key Highlights
Strong underlying growth in Adjusted Net Profit (+AED
9.0 MN or 39%), noting that the prior year includes AED 8.5
MN of trading result from entities divested in 2021. Mainly driven
by:
80%
•
Growth at the Healthcare platform, (+AED 11.5 MN or
>5x), mainly driven by the impact of full quarter performance at
CMRC (+AED 9.2 MN, acquired on February 28, 2021), 2x
revenue growth at RHWC, reducing losses by +AED 1.7 MN
or 41% and profitability at Sukoon (+AED 0.3 MN)
•
Growth at the Education platform, (+AED 0.9 MN or 3%),
mainly due to Middlesex performance (+AED 2.5 MN or
18%) from a 16% increase in student numbers driving 10%
growth in academic revenue, offset by post COVID revenue and
cost normalization in NEMA Holding (-AED 1.8 MN or 19%)
Total Income
42.0
46.9
12%
Adjustments
(8.5)
0.0
Adjusted Total Income (1)
33.5
46.9
40%
Platform and Other Income
Education
31.6
32.6
3%
Healthcare
2.5
14.0
458%
Purchase Price Amortization
(2.4)
(2.9)
(22)%
Interest & Other Income
1.8
3.3
Holding Level Costs
(8.6)
(11.1)
(28)%
Transaction Related Costs
0.0
(0.1)
(100)%
Finance Charges
(1.8)
(3.8)
(107)%
Net Profit
31.5
32.0
2%
Adjusted Net Profit (1)
23.1
32.1
39%
AED
Y/E 21
1Q-22
Change
Assets Under Management (BN)
2.4
2.4
1%
Cash (2)
(MN)
878
887
1%
•
Leverage (MN)
465
437
6%
Net Cash (3)
(MN)
414
450
9%
Leverage %(4)
Share Price (AED)
16%
15%
5%
1.15
1.17
2%
•
Market Capitalisation (BN)
2.9
2.9
2%
•
Higher holding level costs (-AED 2.5m) from portfolio
expansion, one-time carry forward of provisions in the prior year
and post-covid return to travel
Increase in interest and other income (+AED 1.5 MN or
80%), from higher cash deposits following profitable
divestitures in 2021, offset by higher finance charges from
interest on CMRC acquisition finance (-AED 2.0 MN)
Approximately AED 0.9 BN of available cash balances,
with a AED 36 MN increase in overall net cash, due to a positive
cash movement offset by scheduled debt repayments
(1) For a reconciliation of adjusted measures please refer to other financial information; (2) Cash balances include the cash balances of Amanat
Holdings PJSC and its subsidiaries; (3) Net cash excludes lease liabilities; (4) Leverage calculated as debt/debt + paid up capital.
Share price at quarter end was AED 1.17 vs. AED 1.15 at year-
end with overall market capitalization of AED 2.9 BN
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