MLP Saglik Hizmetleri AS
IST:MPARK.E

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MLP Saglik Hizmetleri AS Logo
MLP Saglik Hizmetleri AS
IST:MPARK.E
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Price: 423 TRY 0.71% Market Closed
Market Cap: ₺80.8B

MLP Saglik Hizmetleri AS
Investor Relations

MLP Saglik Hizmetleri AS, commonly known as MLP Care, stands as a prominent player in Turkey's healthcare sector, weaving a narrative of growth and resilience in an ever-evolving industry. Founded in 1993 and headquartered in Istanbul, the company operates one of the largest private hospital networks in Turkey. Offering a comprehensive range of medical services, MLP Care's business model integrates a wide array of medical specialties into its network, from basic outpatient treatments to more complex surgical procedures. The company is adept at navigating the intricate logistics of healthcare provision, ensuring that its facilities, including the flagship Memorial hospitals, are equipped with cutting-edge technology and staffed by a skilled medical workforce.

MLP Care generates revenue through its strategic blend of patient services and partnerships with insurance providers, making healthcare accessible without compromising on quality. Its hospitals serve both local patients and international clientele, tapping into the medical tourism market that Turkey is increasingly known for. By positioning itself as a trusted healthcare provider, the company capitalizes on the growing demand for private medical care amidst a backdrop of under-resourced public health services. Additionally, MLP Care leverages economies of scale and operational efficiencies within its extensive network, ensuring profitability while enhancing patient care. The narrative of MLP Saglik Hizmetleri AS is not just about healthcare provision; it is about sustainable growth and strategic positioning in a competitive landscape.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Mar 9, 2026
AI Summary
Q4 2025

Growth: Revenue reached TRY 55.1 billion in 2025, up nearly 6% in real terms; EBITDA rose to TRY 15.3 billion, up 15% year-on-year.

Margin strength: EBITDA margin improved to 27.8% (year) with Q4 EBITDA of TRY 4.4 billion, up 26% YoY, driven by payer mix and efficiency work.

Investment year: CapEx surged to TRY 6.6 billion (20.4% of revenues) due to new hospital openings, licenses and equipment; management expects CapEx to normalize to ~10% of revenues from 2026.

Balance sheet: Net debt including IFRS 16 rose to TRY 12.0 billion (net debt/EBITDA 0.8); excluding IFRS16 net debt is TRY 4.9 billion (net debt/EBITDA 0.3).

Profitability vs. net income: Net profit attributable to shareholders fell to TRY 5.5 billion for the year (down 19%) due to lower investment income, higher depreciation and higher corporate tax; Q4 net profit was TRY 1.2 billion (+7% YoY).

Network expansion: Four hospitals added in Istanbul in 2025 (Istanbul count 10→14); management plans 8–9 new hospitals over the next 5 years, ~200 beds average per hospital.

2026 outlook (not formal guidance): Management expects double‑digit real EBITDA growth (around 10–15%), revenue growth in the low‑to‑mid teens (described as 'early teens'), and modest further margin improvement toward ~29% if H2 momentum continues.

Key Financials
Revenue
TRY 55.1 billion
EBITDA
TRY 15.3 billion
EBITDA (Q4)
TRY 4.4 billion
EBITDA margin
27.8%
Outpatient revenue
increased by 14%
Inpatient revenue
increased by 5%
Net profit (Q4 attributable to equity holders)
TRY 1.2 billion
Net profit (FY attributable to equity holders)
TRY 5.5 billion
Total net debt (including IFRS 16)
TRY 12.0 billion
Net debt / EBITDA (including IFRS 16)
0.8
Net debt (excluding IFRS 16)
TRY 4.9 billion
Net debt / EBITDA (excluding IFRS 16)
0.3
CapEx (absolute increase)
increased by TRY 6.6 billion
CapEx / Revenue
20.4%
Maintenance CapEx / Revenue
4.6%
New-hospital CapEx / Revenue
15.9%
Renewable energy CapEx / Revenue
1.6%
Operating cash flow
TRY 10.0 billion
Operating-cash-flow / EBITDA
67%
Free cash flow
negative TRY 1.3 billion
Exchange rate assumption
20% increase
Other Earnings Calls
2025
2020
2019
2018

Management

Dr. Muharrem Usta
CEO & Chairman
No Bio Available
Dr. Adem Elbasi
Founder & Chief Operations Coordinator
No Bio Available
Ms. Nurgul Durustkan Elbasi
Founder
No Bio Available
Ms. Burcu Öztürk
Chief Financial Officer
No Bio Available
Dr. Deniz Can Yucel
Strategy & Investor Relations Director
No Bio Available
Serafettin Demiray
Chief Human Resources Coordinator
No Bio Available
Dr. Hikmet Cavus
Chief Strategy & Performance Coordinator
No Bio Available

Contacts

Address
Istanbul
Otakcilar Cd. Flatofis Istanbul No:78 Kat:3 D Blok No:103 Eyup
Contacts
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