Key financial highlights for H1 2025:

• Total revenue increased by 22.2% y-o-y to RUB 19,264 million, backed up by higher revenue, primarily from out-patient and in-patient segments and women’s health services, on the back of growing patient flow and average ticket.

• EBITDA went up by 15.1% y-o-y to RUB 5,823 million. EBITDA margin was at 30.2% compared to 32.1% in H1 2024, mainly due to higher personnel costs, associated, among other things, with the launch of new clinics and ongoing pressure in the labour market.

• Net profit increased by 3.6% to RUB 5,064 million. Net profit margin was at 26.3% compared to 31.0% in H1 2024 because of a decline in the net finance income, including lower interest income from depositing idle funds due to dividend payouts and the acquisition of the Expert medical centres in the reporting period.

• Operating cash flow increased by 15.8% y-o-y to RUB 6,047 million.

• Capex totalled RUB 1,355 million, up 43.2% due to H1 2025 investments in equipping hospitals and opening new clinics.  

• As at 30 June 2025, the Group’s cash position stood at RUB 3,459 million (vs RUB 6,050 million as at the end of 2024). In H1 2025, funds were utilised for 2024 dividend payouts and financing of the Expert medical centres acquisition. The Company has not raised any debt financing.

Key operational highlights for H1 2025[1]:

• Total out-patient treatments went up by 32.9% y-o-y to 1,572,661

• Total in-patient treatments decreased by 3.9% y-o-y to 72,600 with a 13.4% uptick in surgeries

• Total deliveries increased by 10.3% y-o-y to 5,958

• Total IVF punctures went up by 8.2% y-o-y to 10,502.

MD Medical CEO Mark Kurtser said:

"We have been posting robust revenue growth, with a 22% increase in H1 2025, mostly due to our leading positions in women’s healthcare and also driven by our clinics network expansion strategy.

At the same time, active development has been putting pressure on business margins. Over the last twelve months, we launched 13 new projects, including both new clinics and expansion of existing ones, gradually reaching on-target capacity utilisation rates. Against the backdrop of strong competition in the labour market, we managed to provide our new clinics with qualified medical staff to serve our patients.  However, our margins are still among the highest in the commercial healthcare market, with EBITDA margin and net profit margin at 30% and 26%, respectively.

We are set to support sustainable and responsible growth going forward through opening new healthcare facilities, efficient use of the existing assets’ space, and close attention to M&A opportunities. This approach helps us allocate our free cash flow both for development and for paying dividends to our shareholders. In the near future, we plan to propose H1 2025 profit distribution for review by the Board".

[1] For more details on operational highlights, see our press release dated 31 July 2025

Notes:

1. This announcement contains inside information
2. Minor deviations in the calculation of totals, subtotals and/or percent changes are due to rounding
3. The Group’s consolidated financial statements are available on the Group’s website: www.mcclinics.com/investors/financial-reports/

Analyst and investor conference call:

Date: 29 August 2025

Time: 12.00 PM MSK

Event Language:  Russian

Speakers:   

• Mark Kurtser, CEO

• Iya Lukianova, CFO

• Olesya Lapina , IR Director

Registration for the call is available following the link: https://us02web.zoom.us/webinar/register/WN_Fqhq4ASJQaCK0q0Rnc-ngA#/registration

A replay of the call will be available on the Company’s website shortly after the end of the live event.

***

About MD Medical Group

MD Medical Group is a leading provider in the highly attractive Russian private healthcare service market. Today, the Company manages 86 state-of-the-art healthcare facilities, including 14 multidisciplinary hospitals and 72 out-patient clinics in 35 regions of the Russian Federation. In 2024, MD Medical Group's revenue amounted to RUB 33.1 bln while EBITDA stood at RUB 10.7 bln. The Company's ordinary shares are traded on Moscow Exchange (MOEX: MDMG).