Cleopatra Group’s sales to grow at 31% y-o-y in 2020-2023

Alyaa Stohy
2 Min Read

Naeem Research expects Cleopatra Group’s sales to grow at a CAGR of 31% year-on-year (y-o-y) in 2020-2023, as it successfully acquired the El-Katib Hospital, and had already acquired the Bedaya Hospital, specialising in in-vitro fertilisation (IVF). 

Additionally, Cleopatra Group signed a venture capital agreement with El-Nahda University to establish the Beni Suef Hospital, and took over the Queens Royal Hospital. 

The company commenced operations at the East and West Cairo Polyclinics, and is expected to add two further polyclinics. This aims to increase outpatient centres and the inpatient feed network, whilst ensuring a strong expansion plan. Put together, Cleopatra Group’s expansion is likely to boost its financial performance in 2021 and going forward.

Cleopatra Group reported good results in the fourth quarter (Q4) of 2020, backed by a favourable case mix and demand recovery throughout all business units. 

The company’s top-line surge was reflective mainly of reasonable pricing, as the consolidated charge per case rose 28% y-o-y, despite the 7% dip in the total number of cases y-o-y. The bottom-line performance was boosted further by cost control measures

 For Q1 of 2021, Naeem Research expects Cleopatra Group’s strong financial performance to continue, supported by both increased case volumes and favourable pricing. 

It is worth mentioning that the company successfully consolidated the Bedaya hospital with a revenue contribution of EGP 10m in Q4 of 2020.

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