Auna reports Q1 adjusted EBITDA $65M, up 14% from last year

Reports Q1 revenue $289M, one estimate $272.4M. The company states: “Guided by strong leadership in our clinical, technology and business teams across Auna, our regional, horizontally and vertically integrated healthcare platform delivered strong results in the first quarter. Our 20% consolidated revenue growth was the main driver of the 26% YoY increase in our operating profit and 14% increase in Adjusted EBITDA. Importantly, Peru reached our target Adjusted EBITDA of 20%. As our continued success in Peru makes clear, we are capable of generating substantial returns as our capacity utilization rises. This strengthens our conviction in Mexico, where we are committed to deploying the same integrated business model. Accordingly, we continue to invest in bringing our operations in Monterrey up to AunaWay standards and in hiring top talent, both essential to expanding our high-complexity services and ramping up capacity utilization in Monterrey’s fast-growing market. Our recent performance at our OCA network in Monterrey is encouraging, with Adjusted EBITDA increasing 34% versus Q423 in local currency. We are also investing in the planned launch of OncoMexico later this year, with the intention of fully leveraging the nationwide insurance license and extensive distribution network that we gained through the acquisition of Dentegra last year. As we continue to build our capabilities in Mexico, we expect returns to strengthen in the latter half of the year, giving us the ability to improve our financial position by reducing absolute debt levels and our leverage ratio. To expand on our outlook for the remainder of 2024, we expect Adjusted EBITDA to increase 20% or more versus 2023. We remain confident in our ability to disrupt, modernize and integrate healthcare in Spanish Speaking Latin America, delivering strong value creation for Auna’s stakeholders. Of course, that would not be possible without the many doctors, nurses, technicians, managers and other colleagues dedicated to our mission of transforming healthcare in the region.”