Akdital: Revenue Increases by 55% by the End of September and Strengthening Presence Outside the Casablanca-Rabat Axis

In the third quarter of 2025, Akdital expanded its presence in the Oriental region by opening three new establishments: the Private Hospital of Nador, the Private Hospital, and the International Oncology Center of Oujda. With these additions, Akdital is now present in all 12 administrative regions of Morocco, fulfilling its strategic ambition to deploy across the entire national territory. As of September 30, 2025, the total bed capacity of the Group reached 4,419 across 39 establishments. Akdital reported a consolidated revenue of 1,030 million MAD in the third quarter of 2025, marking a 34% increase compared to the same period last year. For the first nine months of the year, cumulative revenue reached 3,124 million MAD, up 55%. This growth is supported by significant contributions from establishments opened in 2024 and 2025, totaling 946 million MAD, as well as steady progress from older sites, demonstrating the robustness of the Group's operational model. In line with its development strategy and now present in 23 Moroccan cities, Akdital focuses nearly two-thirds of its investments in regions outside the Casablanca-Rabat axis. This approach brings quality healthcare closer to local populations, eliminating the need for travel to major urban centers. By the end of September 2025, establishments outside the Casablanca-Rabat axis accounted for 73% of the Group's bed capacity and received 79% of total admissions, illustrating a strong alignment between deployed infrastructure and regional needs. Through its regional deployment, Akdital contributes to the royal initiative for universal health coverage by providing advanced medical facilities nationwide. The Group is making substantial investments in high-value technical capabilities across the Kingdom. These investments extend beyond state-of-the-art equipment and technical platforms; they also encompass training and recruitment of highly qualified paramedical staff, as well as the development of close partnerships with specialist physicians. This strategy enables the Group's facilities to locally manage complex and serious conditions, such as cardiovascular diseases. For instance, in the first nine months of the year, the Group recorded 2,542 admissions for open-heart surgeries and 6,917 for coronary dilation procedures. In oncology, Akdital had 63,285 chemotherapy admissions and 10,452 radiotherapy admissions. The implementation of this regional strategy is accompanied by a strong job creation dynamic, directly benefiting local communities and contributing to their economic and social development. As of September 30, 2025, the Group employed 8,819 staff across all its structures, including over 1,700 new hires since the beginning of the year. By the end of September 2025, the Group's cumulative investments reached 1,024 million MAD, a 25% increase compared to the same period in 2024. This growth reflects the ongoing expansion program of Akdital and the intensity of its development efforts. Investments primarily focused on equipping establishments opened in 2025, modernizing existing infrastructure, and advancing ongoing projects. As of September 30, 2025, net debt stood at 3,438 million MAD, up from 1,753 million MAD at the end of December 2024, representing a 96% increase. This change accompanies the Group's expansion program, including external growth operations carried out in the second quarter and financing for new openings, while maintaining robust financial fundamentals and a comfortable debt capacity. In the third quarter of 2025, the Group's consolidation scope expanded with the full integration of two newly created entities: the Specialty Clinic of Al Hoceima and the Specialty Clinic of Larache. Looking ahead, Akdital's expansion strategy continues at a steady pace in 2025, with a total of 12 openings planned for the year, six of which are already operational as of the end of September. The Group aims to broaden its territorial coverage, targeting a network of 62 establishments in over 32 cities by 2027, representing a total capacity of more than 6,200 beds. Internationally, Akdital is activating its growth channels in the Middle East. An ambitious investment program has been initiated in Saudi Arabia, aiming to create a multidisciplinary hospital network of 1,000 beds by 2030. With a total budget of approximately 1.4 billion USD, this project allows Akdital to export its model beyond national borders while leveraging synergies in management, medical expertise, and innovation. A regional headquarters based in Riyadh will oversee this development and coordinate ongoing initiatives in the United Arab Emirates.