Integrated Diagnostics (LSE: IDHC) expects double-digit revenue growth in 2024 supported by higher volumes and prices

3 min read | May 16, 2024 03:23 AM AEST | By Team Kalkine

Google News:

Integrated Diagnostics (LSE: IDHC) expects double-digit revenue growth in 2024 supported by higher volumes and prices — Image source: shutterstock.com

Recent News

Can Firming Capacity Spark The Next ASX Energy Move?

ASX 200 Energy Stocks Hit A Margin Crossroad

ASX 200 Income Debate Heats Up Before EOFY

Viking Mines (ASX:VKA) Advances Linka Tungsten Project with Positive O...

Make Kalkine Media
My Trusted Source

Highlights

In FY23, the company’s revenue surged by 14.4% compared to FY22
The company’s gross profit and adjusted EBITDA increased by 38% and 1.7%, respectively
Backed by a combination of increased volumes and prices, IDHC aims for double-digit revenue growth in 2024

Integrated Diagnostics Holdings PLC (LSE: IDHC) is a leading provider of integrated diagnostic services based in Egypt. It serves patients across Egypt, Sudan, and Jordan. Offering a comprehensive range of over 1,000 diagnostic services, including basic tests, molecular tests for hepatitis, and specialized DNA tests, the company operates through a network of approximately 310 branches. The company has a market cap of GBP 155.12 million.

In FY23, IDHC announced total revenues of Egyptian Pound (EGP)4,123 million, marking a notable year-over-year (YoY) growth of approximately 14.4%. Similarly, the company’s gross profit and adjusted EBITDA demonstrated YoY growth of 4% and 2%, respectively.

Further, IDHC exhibited promising operational metrics, with revenue per patient showing an approximately 17% YoY increment and test per patient rising by about 13%. This reflects a significant enhancement in operational efficiency.

The company surpassed industry medians in terms of the following metrics:

Higher current ratio - 1.54x in FY23 compared to the industry median of 0.94x
Lower debt-equity – 0.44x in FY23 compared to the industry median of 1.02x

Recent business update

On May 16, 2024, the company revealed its intention to delist from the Egyptian Exchange (EGX) due to persistently low liquidity and trading volumes. However, IDHC will uphold its current standard listing on the LSE.

Company outlook

In December 2023, IDHC started its operations in Saudi Arabia, a move strategically aligned with its priorities and value-creation strategies in current markets. Additionally, the company anticipates ongoing margin normalization throughout 2024 and aims for double-digit revenue growth backed by a combination of increased volumes and prices.

Top 10 Shareholders

The top 10 shareholders of IDHC collectively form around ~63.13% of the total shareholdings in the company. HENA Holdings, Ltd. holds the maximum number of shares with ~27.08% shareholding, followed by Actis LLP with ~21.00% shareholding, as depicted in the chart below:

Stock performance

IDHC's stock price has dropped approximately 8.61% in the past one month and about 0.51% in the last six months. With a 52-week low of USD 0.29 and a high of USD 0.63, it's presently trading below the average of this range.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 15 May 2024. The reference data in this report has been partly sourced from EODHD/Others.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.