Akdital (AKT) Q2 2024 earnings summary

Executive summary

• H1 2024 revenue rose 51% YoY to MAD 1,248m; growth reflected contributions from recent openings and steady performance at legacy clinics.

• Three new clinics were operational by end-June, bringing capacity to 2,698 beds across 24 facilities in 12 cities.

Financial highlights

• Q2 revenue was MAD 637m, up 42% YoY; H1 revenue was MAD 1,248m, up 51% YoY.

• Consolidated net investments were MAD 384m in Q2, up 13% YoY, and MAD 568m in H1, down 3% YoY.

• Consolidated net debt reached MAD 1,818m at June 30, 2024, up 46% from FY 2023.

Outlook and guidance

• Twelve new clinics are planned for 2024, including three already operational by H1; expansion is expected to lift capacity above 3,700 beds across 33 clinics in 24 cities.

• Following a July 2024 capital increase, plans call for accelerating national expansion beyond 2024, prioritizing regions with high healthcare infrastructure demand.