{"id":546819,"date":"2022-05-30T04:00:42","date_gmt":"2022-05-30T04:00:42","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/earnings-watch-cleopatra-hospitals-macro-group\/"},"modified":"2022-05-30T04:00:42","modified_gmt":"2022-05-30T04:00:42","slug":"earnings-watch-cleopatra-hospitals-macro-group","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/earnings-watch-cleopatra-hospitals-macro-group\/","title":{"rendered":"Earnings Watch: Cleopatra Hospitals + Macro Group"},"content":{"rendered":"

Cl<\/strong>eopatra Hospitals Gro<\/strong>up\u2019s (CHG) net income eased 5% y-o-y<\/strong> to EGP 102.4 mn in 1Q 2022, according to the company\u2019s latest earnings release (pdf)<\/a>. Revenues rose 1% y-o-y to EGP 636.9 mn during the quarter, despite a fall in covid-related revenues as the pandemic receded.<\/p>\n

The pandemic is fading out of the picture:<\/strong> The group\u2019s revenues from covid-related services fell 50% during the quarter due to falling infection rates, but this was offset by a 16% rise in revenues from other areas of the business, the company said. Revenues from the company\u2019s surgery and outpatient services segments both saw strong growth during the quarter, and inpatient services continued to be the biggest contributor to overall revenues, despite falling 16% y-o-y due to declining numbers of covid patients. \u201cWe delivered revenues well in excess of EGP 600 mn, significantly exceeding pre-pandemic levels, with strong margins at all levels of profitability, above our pre-pandemic averages,\u201d said Group CEO Ahmed Ezzeldin.<\/p>\n

Covid-only hospitals phased out: <\/strong>The company\u2019s only remaining dedicated covid facility, Queens Hospital, recorded a 38% y-o-y drop in revenue on the back of the decline in cases and will now be closed until 2023 as the company repurposes it post-pandemic.<\/p>\n

The company predicted supply chain snarls and rising prices<\/strong> going into the quarter and built up its inventory ahead of time, CHG said.<\/p>\n

Looking ahead: More expansion. <\/strong>\u201cWe are actively exploring growth opportunities in West Cairo to expand our capacity and footprint further,\u201d said Ezzeldin. Renovations also continue at the group\u2019s 200-bed East Cairo brownfield project, Sky Hospital<\/a>, which it expects to complete by the end of 2023.<\/p>\n

\n

Macro Group<\/strong> saw its net income nearly triple y-o-y to EGP <\/strong>30.7 mn<\/strong> in 1Q 2022, up from EGP 10.9 mn in the same quarter last year, according to the company\u2019s earnings release (pdf)<\/a>. Revenues grew 14% y-o-y to EGP 134.9 mn as the firm raised prices and launched higher-priced products.<\/p>\n

Why the big jump in income? <\/strong>The cosmeceutical firm put aside some EGP 13.9 mn of its 1Q 2021 earnings for provisions (finance-speak for a rainy day fund<\/a>, or anticipated liabilities). No provisions were put aside in the first quarter of this year, according to the release.<\/p>\n

Higher pricing boosted revenues: <\/strong>The group attributed the rise in revenues to a 13% annual increase in average pricing during the period and a 2% rise in sales volumes. Macro has been raising prices through \u201cdirect price hikes, product face-lifts, rebranding, and the launch of innovative higher-priced products, particularly under Macro\u2019s premium brands,\u201d the release read. The group introduced four new products during 1Q 2022, including its first anti-ageing skincare product \u2014 a segment in which it hopes to expand further.<\/p>\n

REMEMBER- Macro made its <\/strong>EGP 1.3 bn debut<\/a><\/strong> on the<\/strong> EGX <\/strong>during the first quarter. One-time costs associated with the company\u2019s IPO and employee stock ownership plan (ESOP) stood at EGP 6.1 mn.<\/p>\n

Inflationary pressures could bite soon: <\/strong>The devaluation of the EGP and inflation, which rose to a near three-year high<\/a> in April, are set to hit the group\u2019s operating profitability in the coming months, the release said.<\/p>\n

But current conditions also present an upside:<\/strong> \u201cWe believe the currency devaluation will be uniquely beneficial to Macro in terms of demand, particularly among our continuously expanding premium lines, with Macro offering lower-priced substitutes to imported products which have since become increasingly expensive,\u201d said Chairman Ahmed Elnayeb.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cleopatra Hospitals Group\u2019s (CHG) net income eased 5% y-o-y to EGP 102.4 mn in 1Q 2022, according to the company\u2019s latest earnings release (pdf). Revenues rose 1% y-o-y to EGP 636.9 mn during the quarter, despite a fall in covid-related revenues as the pandemic receded. The pandemic is fading out of the picture: The group\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":546820,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7208],"tags":[192,302,409,72,7115,77],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546819","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-cleopatra-hospitals-group","tag-earnings","tag-earnings-watch","tag-enterpriseam","tag-healthcare","tag-macro-group","wpautop","entry"],"acf":{"mongo_id":"bb9b6fd3-fa28-4d65-a545-3e1b775747b6","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/5\/398.jpg","photo_position":"above","related_issue":[546803],"teaser":"","voice_url":""},"yoast_head":"\nEarnings Watch: Cleopatra Hospitals + Macro Group - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/earnings-watch-cleopatra-hospitals-macro-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings Watch: Cleopatra Hospitals + Macro Group\" \/>\n<meta property=\"og:description\" content=\"Cleopatra Hospitals Group\u2019s (CHG) net income eased 5% y-o-y to EGP 102.4 mn in 1Q 2022, according to the company\u2019s latest earnings release (pdf). Revenues rose 1% y-o-y to EGP 636.9 mn during the quarter, despite a fall in covid-related revenues as the pandemic receded. 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This came on the back of 16% growth in revenues to EGP 623.8 mn.On a nine-month basis: CHG\u2019s\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/enterpriseam.com\/egypt\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":576409,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/23\/earnings-watch-cleopatra-hospitals-orascom-investment-holding\/","url_meta":{"origin":546819,"position":1},"title":"Earnings watch: Cleopatra Hospitals, Orascom Investment Holding","author":"enterpriseam admin","date":"23 November 2020","format":false,"excerpt":"EARNINGS WATCH- Cleopatra Hospitals Group\u2019s net profit rose 11% y-o-y in 3Q2020 to EGP 80 mn, up from EGP 72.2 mn last year, according to the company\u2019s earnings release (pdf). Revenues grew 16% to EGP 536 mn in the third quarter, up from EGP 462 mn a year ago. \u201cMargins\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637580,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/20\/cleopatra-hospitals-group-grows-bottom-line-45-y-o-y-in-3q2017\/","url_meta":{"origin":546819,"position":2},"title":"Cleopatra Hospitals Group grows bottom line 45% y-o-y in 3Q2017","author":"enterpriseam admin","date":"20 November 2017","format":false,"excerpt":"EARNINGS WATCH- Cleopatra Hospitals Group\u2019s net profit rose 45% y-o-y to EGP 32 mn in 3Q2017, the company said in its earnings release issued overnight (pdf). Revenues came in 38% higher y-o-y at EGP 293.2 mn, \u201cdriven by both higher patient volumes and improved pricing.\u201d Cleopatra Hospital was the largest\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574351,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/07\/earnings-watch-cleopatra-hospitals-group-pioneers-holding-suez-cement-sidi-kerir-for-petrochemicals\/","url_meta":{"origin":546819,"position":3},"title":"Earnings Watch- Cleopatra Hospitals Group, Pioneers Holding, Suez Cement, Sidi Kerir for Petrochemicals","author":"enterpriseam admin","date":"7 September 2020","format":false,"excerpt":"EARNINGS WATCH- Cleopatra Hospitals Group reports a 67% y-o-y decline in 2Q2020 net profits to EGP 14 mn, down from EGP 42.6 mn in the previous year according to thecompany\u2019s earnings release (pdf). Revenues fell 17% y-o-y to EGP 340.2 mn over the quarter, down from EGP 409.1 mn. 2Q2020\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544788,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/cleopatra-hospitals-ibn-sina-report-2021-results\/","url_meta":{"origin":546819,"position":4},"title":"Cleopatra Hospitals, Ibn Sina report 2021 results","author":"enterpriseam admin","date":"21 March 2022","format":false,"excerpt":"Cleopatra Hospitals (CHG) reports record 4Q2021 results: Cleopatra Hospitals Group\u2019s (CHG) net income grew 6% y-o-y in 4Q2021 to EGP 122.6 mn, according to the company\u2019s earnings release (pdf). The company\u2019s bottom line was underpinned by its highest-ever quarterly revenues, rising 6% y-o-y to EGP 648.7 mn. On a full-year\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/278.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":649943,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/13\/earnings-watch-cleopatra-hospitals-etisalat\/","url_meta":{"origin":546819,"position":5},"title":"Earnings watch: Cleopatra Hospitals, Etisalat","author":"enterpriseam admin","date":"13 March 2017","format":false,"excerpt":"** EARNINGS WATCH: Cleopatra Hospitals Group announced net income of EGP 89.4 mn in 2016, up 73% y-o-y. Revenues increased by 16% y-o-y to EGP 864.4 mn during the year. The largest contributor to group revenues was Cleopatra Hospital at (44%), followed by Cairo Specialised Hospital (21%), Nile Badrawi Hospital\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546819","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=546819"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546819\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546803"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/546820"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546819"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546819"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}