Seven-year performance history

Group statement of comprehensive income

1 Life Healthcare defines normalised EBITDA as operating profit before depreciation on property, plant and equipment, amortisation of intangible assets, and non-trading costs and income.

Group statement of financial position

Group statement of cash flows

Business performance and metrics

1 Life Hilton Private Hospital opened in September 2015, and Genesis Clinic was acquired in March 2015. In March 2014, Life Sandton Surgical Centre closed. Life St Joseph’s, Life Piet Retief and Life Poortview opened in November 2011, December 2011 and May 2012 respectively. The Life Grey Monument management agreement concluded during October 2011, and Life Birchmed was disposed of in March 2012. Life acquired the majority shareholding in Middelburg Hospital in August 2011.
2 Metrics for South African operations.
3 Occupancy is measured based on the weighted number of available beds during the period and takes acquisitions and expansions during the year on a proportionate basis into account.
4 The initial investment in Max Healthcare in 2012 was funded through the issue of preference shares to the value of R820 million.
In 2015 preference shares to the value of R2 050 million were issued to fund the additional investment in Max Healthcare, to equalise our shareholding, and for further acquisitions within the Scanmed Group. The acquisition of Alliance Medical in 2017 was funded by way of a bridge facility of R14 601 million, during the 2017 financial year R8 770 million was repaid via the funds raised through the rights offer.
5 IAS 17 requires lessees at the commencement of the lease term, to recognise finance leases as assets and liabilities in their statement of financial position at amounts equal to their fair value of the leased property.

Shareholder returns

1 The earnings per share and headline earnings per share for the comparative years have been amended as a result of the increase to the weighted average number of shares, due to the rights offer and the related bonus element within the rights offer, in accordance with IFRS.

Market indicators