MLP CARE Completed the Year With Growth Above Expectations in 2018

Istanbul (ots/PRNewswire) - MLP Sagl?k Hizmetleri A.S. ("MLP
Care") (BIST: MPARK), the leading private healthcare service provider
in Turkey, today announces its financial results for the full year
ended December 31, 2018.

(TL millon) 2018 2017 Change Q4 Q4 Change
2018 2017
Revenue 3,132 2,576 21.6% 880 703 25.3%
Comparable1 3,045 2,576 18.2% 840 703 19.5%
Revenue
Adj. EBITDA2 505 409 23.5% 152 126 20.3%
Adj. Margin 16.1% 15.9% 25bps 17.3% 18.0% (71bps)
(%)
Comparable1 530 409 29.7% 155 126 22.9%
Adj. EBITDA
Adj. 17.4% 15.9% 155bps 18.5% 18.0% 51bps
Margin (%)
Adj. EBITDAR2 748 598 25.1% 215 176 22.2%
Adj. Margin 23.9% 23.2% 68bps 24.4% 25.0% (62bps)
(%)
Net (104) (133) (21.9%) 39 (60) (165.7%)
Profit/(Loss)
Net 142 35 300.1% (1) 21 (102.5%)
Profit/(Loss)
Normalized
for FX Losses
(Including
Hedging Cost)

1 Excluding the contribution from hospitals opened in 2018

2 Based on Reported EBITDA (Earnings Before Interest, Taxes,
Depreciation, Amortization) /EBITDAR (Earnings Before Interest,
Taxes, Depreciation, Amortization, Rent Expenses) adjusted for
one-time (income) / expenses, net and non-cash GAAP provision
expenses

Financial Highlights

- In Q4 2018, revenues increased to TL880 million, up by 25.3% vs. Q4
2017. Revenues in 2018 were TL3,132 million, up by 21.6% vs. last
year (2017: TL2,576 million). When revenues of managed hospitals
were included, revenue growth in Q4 2018 was 29.1% and in 2018 was
27.7%.
- Adj. EBITDA increased by 20.3% in Q4 2018, bringing 2018 EBITDA
growth to 23.5% vs. last year.
- When normalized for the negative EBITDA contribution from hospitals
opened in 2018, comparable EBITDA growth was 22.9% in Q4 2018 and
29.7% in 2018.
- In 4Q 2018, a net profit of TL39 million was recorded due to strong
operational performance, lower financial expenses and FX losses.
- A net loss of TL104 million was recorded in 2018 due to the TL245
million of FX losses from the hard currency denominated debt (2017:
Net loss: TL133 million, FX losses: TL168 million). Net profit
normalized for FX losses increased from TL35 million in 2017 to
TL142 million in 2018.
- The net debt/Adj. EBITDA ratio declined to 2.5x at the end of 2018
compared to 3.4x a year ago.

Operating Highlights

- The ramp up of the new hospitals opened in 2018 is on track.
- Continued focus on maintaining strong growth in medical tourism
(11% of in total revenues in 2018 vs. 7% last year).
- All of the FX denominated hospital building lease agreements
converted to TL as of October 2018.
- Efficiency initiatives in place to improve margins.

Dr. Muharrem Usta, Chairman and Chief Executive Officer of MLP
Care, commented:

"We are very pleased to complete 2018 with delivering operational
results above expectations and fulfilling promises given to investors
during the initial public offering.

"We have focused on the successful ramp up of the two new
hospitals opened in 2018 as well as operational improvements to
increase patient satisfaction and effective cost management across
all our hospitals. Our foreign medical tourism revenues maintained
its high growth momentum in 2018. In the last quarter of 2018, we
posted net profit thanks to continued growth in EBITDA and
appreciation of TL.

"We, as MLP Care, will continue to focus on initiatives for
further operational efficiency and to create value for our patients
and stakeholders as well as our country."

ENQUIRIES

For financial reports and further information regarding MLP Care,
please visit our website at http://investor.mlpcare.com/en/ or you
may contact:

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

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