Akdital: Significant Increase in Activity in the First Half of 2025

In the second quarter of 2025, Akdital continued to expand its national network in line with its development strategy. This included the opening of a new facility in Guelmim and the acquisition of two clinics in Laâyoune: the Polyclinique Internationale de Laâyoune and Al Hikma Medical Center. These operations increased Akdital's capacity to 4,111 beds across the Kingdom. Amid this expansion, Akdital recorded a strong growth in activity, with consolidated revenue reaching 1,150 million MAD in the second quarter of 2025, an increase of 80% compared to Q2 2024. For the entire first half of the year, consolidated revenue totaled 2,089 million MAD, reflecting a growth of 67% compared to the same period in 2024. This performance is attributed to both the dynamics of historical facilities and the increasing contributions from establishments opened in 2023 and 2024, particularly those inaugurated in 2024, which contributed 560 million MAD in the first half. As part of its development program, Akdital continued to invest in acquiring new entities, equipping recently opened facilities, preparing for upcoming locations, and strengthening existing structures. These commitments resulted in investments of 790 million MAD in the second quarter of 2025. For the first half of the year, total investments reached 925 million MAD, up 63% compared to the same period in 2024. By the end of June 2025, consolidated net debt stood at 2,827 million MAD, compared to 1,753 million MAD at the end of December 2024, marking an increase of 61%. This growth accompanies the investments made to support the Group's expansion, particularly the external growth operations carried out during the quarter and the equipping of new facilities. During the second quarter of 2025, the Group expanded its consolidation perimeter by integrating four new entities: Polyclinique Internationale de Laâyoune, Al Hikma Medical Center, Al Hikma Medical, and Sihatinvest. These companies, now 100% owned, are fully consolidated. Looking ahead, the Group plans to open 12 new facilities in 2025, with three already operational in Guelmim (1) and Laâyoune (2). In this dynamic, Akdital aims to establish a network of over 62 facilities in more than 32 cities by 2027, with a capacity exceeding 6,200 beds. Internationally, Akdital is initiating its first projects, including the construction of a 200-bed hospital in Dubai, with an investment of 70 million USD and an expected opening in the first quarter of 2027. Additionally, a memorandum of understanding has been signed with Dr. Abdul Rahman Al Mishari for Development for the leasing and management of the Abdul Rahman Al Mishari Hospital located in Riyadh.