The Cleopatra Hospitals group intends to invest EGP 2bn over the next 18 months as part of its profit expectations strategy before interest, taxes, and depreciation over the next two years.
The focus will primarily be on completing the first and second phases of the Sky Hospital project in East Cairo, expanding the Cleopatra October facilities in West Cairo, and expanding outpatient clinic centres. The investment amount does not include any potential expansions outside Cairo.
The company stated that capital expenditures would be fully financed from internal sources and bank facilities.
Cleopatra Hospital had anticipated a 35% annual growth in the company’s revenues during 2023. It also expected a 44% annual revenue growth during the last quarter of the previous year, supported by an increase in the number of cases served by the group during the same period, and the positive impact of improved operational efficiency and the diversification of the range of healthcare services provided.
The profits of Cleopatra Hospital increased by 29% during the first nine months of the previous year, reaching EGP 344.9m, compared to a profit of EGP 267.1m during the same period in 2022, a 29% increase.