Netcare (NTC) Results Snapshot FY21

Turnover growth +12.5% y-y, driven by Hospitals and pharmacy operations. The group GPM expanded by 136bps to 49.3%, with OPM improving by 240bps to 9.8%.
There was a R73m impairment of five property assets (two acute hospitals and three mental health facilities), and a R35m impairment against the early termination of the public
private partnership agreement by the Lesotho government for the operation of the 425 bed Queen Mamohato Memorial hospital.