Integrated Diagnostics Holdings PLC Trading update for the year ended 31 December 2020 (6115P)
February 18 2021 - 6:25AM
UK Regulatory
TIDMIDHC
RNS Number : 6115P
Integrated Diagnostics Holdings PLC
18 February 2021
THIS ANNOUNCEMENT INCLUDES INSIDE INFORMATION.
Integrated Diagnostics Holdings plc
Trading update for the year ended 31 December 2020
18 February 2021
(London) Integrated Diagnostics Holdings ("IDH," "the Group," or
"the Company"), a leading consumer healthcare company with
operations in Egypt, Jordan, Sudan and Nigeria, released today a
trading update for the year ended 31 December 2020 based on its
unaudited financial results.
IDH expects to report revenues of approximately EGP 2.6 billion
(ahead of previous management guidance of EGP 2.3 to 2.4 billion)
with an EBITDA[1] margin in excess of 40%.
"IDH's strong performance in 2020 reflects the resilience of our
business model and management's ability to swiftly adapt our
service offering to changing dynamics," said Chief Executive
Officer Dr. Hend El-Sherbini. "Following Covid-19-related
disruptions early in the year, starting in the second half of 2020
we witnessed accelerated top-line growth which culminated in a
robust fourth quarter as the business captured strong consumer
demand across its portfolio. The return to double digit revenue
growth for the year reinforces management's confidence in the
strong fundamentals of our geographies and of our well-established
position within these markets."
The Company's full-year and 4Q2020 results will reflect strong
contribution from PCR and Covid-19-related[2] testing in Egypt and
Jordan and the ramping up of IDH's house call services in both
countries.
-Ends-
About Integrated Diagnostics Holdings (IDH)
IDH is a leading consumer healthcare company in the Middle East
and Africa with operations in Egypt, Jordan, Sudan and Nigeria. The
Group's core brands include Al Borg, Al Borg Scan and Al Mokhtabar
in Egypt, as well as Biolab (Jordan), Ultralab and Al Mokhtabar
Sudan (both in Sudan) and Echo-Lab (Nigeria). A long track record
for quality and safety has earned the Company a trusted reputation,
as well as internationally recognised accreditations for its
portfolio of over 1,400 diagnostics tests. From its base of 471
branches as of 30 September 2020, IDH will continue to add
laboratories through a Hub, Spoke and Spike business model that
provides a scalable platform for efficient expansion. Beyond
organic growth, the Group's expansion plans include acquisitions in
new Middle Eastern and African markets where its model is
well-suited to capitalise on similar healthcare and consumer trends
and capture a significant share of fragmented markets. IDH has been
a Jersey-registered entity with a Standard Listing on the Main
Market of the London Stock Exchange (ticker: IDHC) since May
2015.
The person responsible for arranging the release of this
announcement is Nancy Fahmy, Investor Relations Director.
Contact
Nancy Fahmy
Investor Relations Director
T: +20 (0)2 3345 5530 | M: +20 (0)12 2255 7445 |
nancy.fahmy@idhcorp.com
[1] EBITDA is calculated as operating profit plus depreciation
and amortization
[2] Covid-19-related tests include antibody testing as well as a
bundle of inflammatory and clotting markers such as Complete Blood
Picture, ESR, D-Dimer, Ferritin and CRP, among others.
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END
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