Full Press Release Details
Announces 4Q24 and FY 2024 Financial Results
EBITDA increases 20.1% FXN in FY 2024 and Net Operating Cash Flows increase 15% YoY
10, 2025 - Auna (NYSE: AUNA) ("Auna" or the "Company"), a leading healthcare platform in Latin America
with operations in Mexico, Peru, and Colombia, today announced financial results for the fourth quarter ended December 31, 2024 ("fourth
quarter 2024" or "4Q24") and full year ended 2024 ("full-year 2024" or "FY24"). Financial results
are expressed in Peruvian Soles ("S/" or PEN") and are presented in accordance with International Financial Reporting
Standards ("IFRS"), unless otherwise noted.
Consolidated Highlights
Consolidated Highlights
from Auna's Executive Chairman and President
year with another strong quarter, successfully delivering on our full-year 2024 guidance of 20% FXN Adjusted EBITDA growth. Net Income
improved to S/124 million from a loss of S/214 million in 2023.
was driven by continued momentum in Mexico, where the AunaWay's implementation and its patient-centered model continue delivering
tangible results, by Peru, our most mature and predictable market that continues to deliver excellent results,
and by the resilience
of our Colombian operations in the face of ongoing challenges with certain payors.
We also strengthened
our balance sheet, reducing our Leverage Ratio to 3.56x Net Debt-to-Adjusted EBITDA, marking further progress toward our medium-term
target of less than 3.00x. Importantly, we generated positive Adjusted Net Income of S/146 million for the year.
advancing healthcare through a value-based care model remains central to our strategy. This approach - integrating data-driven decision-making,
physician engagement, and patient-centered care - continues to drive sustainable growth while enhancing medical resolution, optimizing
resource utilization, and improving financial performance.
integrated healthcare and plans business remained strong, as we continue harvesting returns on earlier investments that we made to build,
integrate and scale this business. Peru continues to demonstrate the consistent earnings power of Auna's business model when it
is operating at scale.
growth and profitability continued to strengthen, as the AunaWay gained additional traction in this key market. Additionally, on March
7th we announced the signing of an exclusive five-year agreement with a physician group practicing at Organizaci n
Para Cuidado Integral en Oncolog a, S.A. de C.V., also known as Opci n Oncolog a, the premier oncology ambulatory
clinic in Monterrey. This strategic partnership strengthens Auna's commitment to becoming the leading oncology provider in Mexico
and marks a significant step in consolidating oncology services within Auna Mexico.
remain confident in the market's long-term potential while proactively addressing near-term challenges. Regulatory intervention
affecting certain payors, including Nueva EPS, continues to create uncertainty in the sector. In response, we began phasing out select
services to Nueva EPS in Antioquia in 1Q25 and adjusting service modalities in other regions, while securing a payment plan for its outstanding
balances. Although we have made encouraging progress with Nueva EPS and still expect to recover our receivables, we continue to reallocate
service volumes to other payors and diversify our payor mix to strengthen cash flow reliability and operational stability. While this
transition may introduce short-term volatility, it ultimately enhances our financial position and flexibility in the country.
year we welcomed two distinguished C-suite executives from Mexico to our Board of Directors. Their leadership and complementary expertise
further enhance Auna's governance as we scale operations, particularly in Mexico. With these additions, we have increased both
independent directors and female representation, reinforcing our commitment to strong decision-making and diversity.
expect continued growth in our markets, focusing on increasing efficiencies across our network and expanding access to high-quality healthcare.
excited about OncoMexico's potential with a disruptive product in the country's insurance market. Auna continues to maintain
its internal guideline of 20% FXN Adjusted EBITDA growth annually. In 2025, achieving this goal will depend on the performance of our
operations in Colombia. While we have strong momentum across the business, external factors-particularly the challenges posed by
the intervened EPSs in Colombia-introduce significant uncertainty. These industry-wide headwinds, rather than any change in our
operational performance, will be a key factor in determining the final outcome. We remain focused on executing our AunaWay strategy and
are confident in our ability to drive growth and profitability across our markets. We also intend to further reduce debt as we expect
to generate additional excess cash flow in 2025.
new year, Auna is well-positioned to advance our mission and deliver significant value to patients, partners, and shareholders.
of 4Q24 and Full-Year 2024 Consolidated Results
increased 4% YoY to S/1,063 million, or 11% FXN, as a result of Auna's improving service mix and pricing across its networks,
with revenues in local currency ("L.C.") increasing 9% in Mexico, 10% in Peru, and 14% in Colombia. FY24 revenues increased
13% YoY, or 12% FXN, with annual L.C. revenues increasing 8% in Mexico, 13% in Peru, and 14% in Colombia.
the network improved its services mix and pricing across its three hospitals, similar to the Peruvian healthcare network. In Colombia,
risk-sharing models with payors gained traction. In addition, the Oncosalud Peru segment continued expanding its membership base.
EBITDA increased 19% YoY, or 28% FXN, to S/254 million, with margin expanding 3.1 p.p. to 23.9%, resulting from an operating profit
increase of 46% and an expansion in operating margin of 5.1 p.p. to 17.9%. Operating profit included provisions for impairment losses
in Colombia of S/9 million.
Adjusted EBITDA was S/993 million, increasing 20% YoY, or 20.1% FXN, in line with Auna's 2024 annual guidance. Operating profit
increased 40% in FY24, representing a 17.9% operating margin, and included: i) a one-time 3Q24 S/44 million reversal of the holdback
from the acquisition of OCA in Mexico, and ii) full-year impairment losses of trade accounts receivable in Colombia of S/28 million.
Consolidated Adjusted EBITDA in FY24 excludes the above-mentioned holdback reversal.
finance costs were S/155 million in 4Q24 versus S/302 million in 4Q23. Net interest expenses, excluding FX effects, would have been
S/132 million in 4Q24 and S/352 million in 4Q23, a decrease of S/220 million or 63%. 4Q23 included S/215 million of refinancing costs
executed in the quarter related to the exchange of Auna's 6.500% Senior Notes due 2025 (the "2025 Notes") and private
loan repayments. The FX impact in 4Q24 includes a negative non-cash accounting amount of S/24 million versus S/50 million of
non-cash accounting FX impact in 4Q23, mainly due to the depreciation of the Peruvian Sol against the US Dollar, outside the range of
Auna's call-spread hedge.
Net finance costs were S/609 million and included net interest expenses of S/567 million and a negative non-cash FX effect of S/42 million,
versus net finance costs of S/691 million in FY23 that included net interest expenses of S/767 million and a positive non-cash FX effect
of S/76 million due to the appreciation of the Peruvian Sol relative to the US Dollar.
Income was S/24 million in 4Q24, compared to a Net Loss of S/219 million in 4Q23. On a per-share basis, Auna reported Net Income
of S/0.30 based on a weighted average number of basic and diluted shares of 74,175,144. In FY24 Net Income was S/124 million compared
to Net Loss of S/214 million in FY23. On a per-share basis, annual Net Income was S/1.63 based on a weighted average number of basic
and diluted shares of 67,500,074.
Net Income was S/36 million in 4Q24, versus a loss of S/6 million in 4Q23. On a per-share basis, Auna reported Adjusted Net Income
of S/0.47 based on a weighted average number of basic and diluted shares of 74,175,144. In FY24 Adjusted Net Income was S/146 million
compared to Adjusted Net Income of S/14 million in FY23. On a per-share basis, Adjusted Net Income in FY24 was S/1.97 based on a weighted
average number of basic and diluted shares of 67,500,074.
of variances are in local currency unless expressed otherwise)
Services and AunaSeguros operations in Mexico accounted for 25% of consolidated revenues and 37% of consolidated Adjusted EBITDA.
in millions of Soles and millions of US Dollars, unless expressed otherwise)
| 4Q'24 vs 4Q'23 | 4Q'24 vs 3Q'24 | FY 24 vs FY 23 | ||||||||||
| Healthcare Services Mexico Key Operating Metrics | 4Q'24 (USD) | 4Q'24 | FY 24 | As Reported | Local Currency | As Reported | Local Currency | As Reported | Local Currency | |||
| Beds | # | 708 | 708 | 0% | 0% | 0% | ||||||
| Surgeries | # (000) | 5.1 | 21.0 | 4% | -9% | 2% | ||||||
| Emergency treatments | # (000) | 9.7 | 37.1 | 2% | 12% | 0% | ||||||
| Operating capacity utilization | % | 65.1% | 63.7% | 4.2 p.p. | -0.1 p.p. | 0.4 p.p. | ||||||
| Total capacity utilization | % | 43.3% | 42.4% | 2.8 p.p. | -0.1 p.p. | 0.3 p.p. | ||||||
| Key Financial Metrics | ||||||||||||
| Segmenet Revenue | 71 | 268 | 1195 | -6% | 9% | -15% | -10% | 6% | 8% | |||
| Segment Adjusted EBITDA | 25 | 93 | 410 | 13% | 30% | -18% | -13% | 7% | 10% | |||
| Segment Adjusted EBITDA margin | % | 34.7% | 34.3% | 5.7 p.p. | -1.3 p.p. | 0.4 p.p. |
in Mexico increased 9% YoY in 4Q24 due to higher volumes and improved ticket mix in hospitalization services and ICU therapy services.
The improved revenue mix is the result of strategic service pricing across payor tiers in Auna's network, which resulted in increased
surgery and ICU therapy service volumes at OCA and DHE, and increased hospitalization volume at DHE. Total capacity utilization was 43.3%
in 4Q24, an increase of 2.8 p.p. versus 4Q23, while operating capacity utilization increased 4.2 p.p. to 65.1% in 4Q24 compared to 4Q23.
increased 8% versus FY23, supported by a redistribution of services and related price adjustments for surgeries, hospitalizations, and
ICU therapies across Auna's network of hospitals. Full-year 2024 consolidated total capacity utilization was 42.4%, while consolidated
operating capacity was 63.7%, both increasing slightly over FY23.
EBITDA increased 30% YoY in 4Q24 and 10% in FY24, as a result of increased revenues and cost efficiencies in 4Q24, added to the impact
of pharmacy procurement and equipment rentals optimization in 4Q23. Adjusted EBITDA Margin increased YoY 5.7 p.p. to 34.7% in 4Q24 and
grew 0.4 p.p. to 34.3% in FY24.
PERU OPERATIONS: HEALTHCARE
SERVICES PERU AND ONCOSALUD PERU
Services and Oncosalud Peru accounted for 42% of consolidated revenues and 38% of consolidated Adjusted EBITDA.
Highlights - Peru Consolidated (Healthcare Services + Oncosalud Peru)
in millions of Soles and millions of US Dollars, unless expressed otherwise)
| Healthcare Services Peru and Oncosalud Peru Key Financial Metrics | 4Q'24 (USD) | 4Q'24 | FY 24 | 4Q'24 vs 4Q'23 | 4Q'24 vs 3Q'24 | FY 24 vs FY 23 | |||
| Revenue | 117 | 442 | 1,748 | 10% | -1% | 13% | |||
| Healthcare Services Peru | 65 | 245 | 996 | 9% | -4% | 13% | |||
| Oncosalud Peru | 73 | 276 | 1,071 | 13% | 1% | 15% | |||
| Holding and Eliminations (*) | (79) | (318) | 18% | -1% | 21% | ||||
| Consolidated Peru Adjusted EBITDA | 25 | 96 | 371 | 33% | -1% | 51% | |||
| Healthcare Services Peru | 6 | 24 | 139 | 35% | -39% | 85% | |||
| Oncosalud Peru | 19 | 72 | 232 | 32% | 24% | 36% | |||
| Consolidated Peru Adj. EBITDA margin | % | 21.7% | 21.2% | 3.8 p.p. | 0.1 p.p. | 5.4 p.p. | |||
| Healthcare Services Peru | 9.6% | 14.0% | 1.9 p.p. | -5.4 p.p. | 5.4 p.p. | ||||
| Oncosalud Peru | 26.1% | 21.7% | 3.7 p.p. | 4.8 p.p. | 3.4 p.p. |
(*) Relates to intersegment
revenue elimination.