- In the first quarter of 2019, MLP Care's revenue (BIST: MPARK) increased to 
TL933 million, up by 25%. When revenues of managed hospitals are included, 
revenue growth in Q1 2019 is at 28% 
- Adj. EBITDA increased by 20%, bringing EBITDA margin to 18.0%. Excluding 
one-off items, adj. EBITDA growth is at 29% 
- Net profit before tax turned into positive and TL12 million profit was 
recorded. Net profit came in at TL3 million

MLP Saðlýk Hizmetleri A.Þ. (MLP Care), the leading private healthcare service 
provider in Turkey, announced its financial results for the first quarter of 
2019.

Revenue increased to TL933 million, up by 25% compared to TL749 million of the 
last year's first quarter revenue. When revenues of managed hospitals are 
included, revenue growth is at 28%. Adj. EBITDA increased by 20%. 

Net profit before tax turned into positive and TL12 million profit was recorded 
in the first quarter compared to TL 31 million loss of the first quarter of 
2018. MLP Care recorded a net profit of TL3 million due to strong operational 
performance and hedging. Net profit normalized for FX losses was at TL29 
million.

In the first quarter, focus on maintaining strong growth continued in medical 
tourism, which is now accounting for 11.4% of total revenues.

Dr. Muharrem Usta, Chairman and Chief Executive Officer of MLP Care, commented 
on first quarter results as follows:
"In the first quarter of 2019, we made a very good start to the year with 
revenues and EBITDA growing significantly above inflation. Foreign medical 
tourism (FMT) revenues were up by 79% y-o-y and FMT continues to be a strong 
growth engine going forward.

"In April 2019, we have signed an agreement with Bupa Acibadem Insurance Group, 
an important player in Turkey's healthcare insurance market. With this 
agreement, insurance holders of the SenCart Membership Program mainly Bupa 
Acýbadem and Aksigorta, that covers 655 thousand people will be able to benefit 
from the healthcare services of Medical Park and Liv hospitals. 

"We will focus on further improving our operations, strengthening our balance 
sheet and cash flow for the rest of 2019."

ABOUT MLP CARE
We are the largest private healthcare service provider in Turkey in terms of 
number of hospitals, beds and geographic scope based on our footprint of 31 
hospitals and around 6,000 beds in 17 cities across the country. We treat more 
than 2 million people per year, with our patients primarily drawn from the 
upper-mid segments of the market. We provide a full range of healthcare 
services from gynaecology, cardiology, oncology, orthopaedics, intensive care 
to complex treatments such as organ and bone marrow transplants. As of March 
31, 2019, we had more than 20,000 personnel, including over 2,200 physicians, 
managed by a head office team which integrates field operations, sets strategy 
and monitors real-time performance across all 31 hospitals.

Logo - https://mma.prnewswire.com/media/832651/MLP_Care_Logo.jpg 

ENQUIRIES
Dr. Deniz Can Yücel 
Strategy and Investor Relations Director 
T +90-212-227-5555 (Ext: 1148) 
E deniz.yucel@mlpcare.com

Source: MLP Care