• Group EBITDA increased by 24.0% to R2.0 billion.
• Adjusted HEPS rose by 31.5% to 46.3 cents.
• Interim dividend declared at 30.0 cents per share.

Netcare Limited, a leading healthcare provider in South Africa, announced impressive unaudited interim group results for the six months ending March 31, 2023. The company showcased robust financial growth, with significant improvements in key financial indicators.

Netcare’s earnings before interest, tax, depreciation, and amortization (EBITDA) experienced a remarkable increase of 24.0%, reaching R2.0 billion. This surge is attributed to Netcare’s effective cost management strategies and revenue growth initiatives. The company’s operating profit also displayed substantial growth, rising by 32.5% to R1.4 billion.

Profit for the period witnessed a significant jump, soaring by 48.7% to R666 million compared to R448 million in the corresponding period last year. This exceptional performance can be attributed to Netcare’s unwavering commitment to delivering high-quality healthcare services and optimizing operational efficiencies.

Netcare’s revenue demonstrated solid growth, increasing by 11.9% to R11.5 billion. This growth highlights the company’s ability to attract patients and generate sustainable revenue in a challenging healthcare landscape.

In terms of financial position, Netcare’s total assets rose by 5.8% to R26.8 billion, indicating steady growth compared to the same period the previous year. Total liabilities increased by 6.6% to R15.7 billion, while total shareholders’ equity reached R11.1 billion, reflecting a growth of 4.8%. Net debt, excluding lease liabilities, decreased by 6.7% to R5.0 billion, demonstrating improved financial stability.

Netcare’s earnings per share (EPS) experienced substantial growth, with basic earnings per share rising by 49.2% to 45.8 cents, and headline earnings per share increasing by 40.4% to 44.8 cents. Adjusted headline earnings per share, as defined in the unaudited interim Group results, rose by 31.5% to 46.3 cents.

The Board of Directors of Netcare has declared an interim dividend of 30.0 cents per ordinary share, marking a 50.0% increase from the previous year. This dividend will be paid to shareholders recorded in the register as of July 14, 2023.