Adjusted EBITDA increases 20.1% FXN in FY 2024 and Net Operating Cash Flows increase 15% YoY

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.

4Q24 Consolidated Highlights

Consolidated Revenue increased 4% YoY to S/1,063 million, or +11% FXN
Adjusted EBITDA increased 19% YoY to S/254 million, or +28% FXN
Adjusted EBITDA Margin expanded 3.1 p.p. YoY to 23.9%
Adjusted Net Income increased to S/36 million, from S/(6) million in 4Q23
Leverage Ratio improved to 3.6x from 3.7x in 3Q24 and 4.5x in 4Q23

FY24 Consolidated Highlights

Consolidated Revenue increased 13% YoY to S/4,386 million, or +12% FXN
Adjusted EBITDA increased 20% YoY to S/993 million, or +20.1% FXN
Adjusted EBITDA Margin expanded 1.4 p.p. YoY to 22.6%
Adjusted Net Income increased to S/146 million, from S/14 million in FY23
Oncology Plans MLR was 53.0%, improving 2.4 p.p. from FY23
Consolidated total capacity utilization increased to 66.4%, up 2.6 p.p. from FY23

Message from Auna's Executive Chairman and President

Auna closed the 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.

This performance 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.

Our commitment to 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.

In Peru, our fully 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.

In Mexico, revenue growth and profitability continued to strengthen, as the AunaWay gained additional traction in this key market. Additionally, on March 7^th we announced the signing of an exclusive five-year agreement with a physician group practicing at Organización Para Cuidado Integral en Oncología, S.A. de C.V., also known as Opción Oncología, 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.

In Colombia, we 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.

Also, early this 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.

Looking ahead, we expect continued growth in our markets, focusing on increasing efficiencies across our network and expanding access to high-quality healthcare. We are particularly 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.

As we enter the new year, Auna is well-positioned to advance our mission and deliver significant value to patients, partners, and shareholders.

Overview of 4Q24 and Full-Year 2024 Consolidated Results

Revenues 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.

In Mexico, 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.

Adjusted 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.

In FY24, 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.

Net 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 positive 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.

In FY24, 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.

Net 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.

Adjusted 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.

For a full version of AUNA's Fourth Quarter 2024 Earnings Release, please visit: https://aunainvestors.com/English/financial-information/quarterly-results/

Conference Call Details

When: 8:00 a.m. Eastern time, March 11, 2025

Who: Mr. Suso Zamora, Executive Chairman of the Board and President; Mrs. Gisele Remy, Chief Financial Officer and Executive Vice President; Mr. Lorenzo Massart, Executive Vice President of Strategy and Equity Capital Markets.

Dial-in: +1 888 596 4144 (U.S. domestic), +1 646 968 2525 (International)

Passcode: 3884034

To access Auna′s financial results call via telephone, callers need to press # to be connected to an operator.

Webcast: click here

About AUNA

Auna is a leading healthcare platform in Latin America with operations in Mexico, Peru, and Colombia, prioritizing prevention and concentrating on high-complexity diseases that contribute the most to healthcare expenditures. Our mission is to transform healthcare by providing access to a highly integrated healthcare offering in the underpenetrated markets of Spanish-Speaking Americas. Founded in 1989, Auna has built one of Latin America′s largest modern healthcare platforms that consists of a horizontally integrated network of healthcare facilities and a vertically integrated portfolio of oncological plans and selected general healthcare plans. As of December 31, 2024, Auna's network included 31 healthcare network facilities, consisting of hospitals, outpatient, prevention and wellness facilities with a total of 2,323 beds, and 1.4 million healthcare plans.

For more information visit www.aunainvestors.com

Safe Harbor Statement

This press release contains forward-looking statements. Forward-looking statements convey our current expectations or forecasts of future events. These statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to differ materially from the forward-looking statements that we make. Forward-looking statements typically are identified by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "project," "plan," "believe," "potential," "continue," "is/are likely to," or other similar expressions. Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations, regarding various matters, including, [Net Debt-to-Adjusted EBITDA][Leverage Ratio], 2025 Adjusted EBITDA growth, the expected impact on revenues and profitability of certain initiatives we are pursuing in Mexico, our expected long-term financial position and flexibility as a result of certain initiatives we are pursuing related to payors in Colombia and our target leverage level. Any or all of our forward-looking statements in this press release may turn out to be inaccurate. Our actual results could differ materially from those contained in forward-looking statements due to a number of factors.

The forward-looking statements in this press release represent our expectations and forecasts as of the date of this press release. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see our Form F-1 filing with the U.S. Securities and Exchange Commission (the "SEC").

2025 Financial Guidance Disclaimer

Auna′s guidance is based on management's current performance outlook and expected macroeconomic and regulatory conditions in the three countries where the Company operates. Any changes in these conditions could have an impact on the guidance provided.

Auna's 2025 financial guidance reflects management's current assumptions regarding numerous evolving factors that are difficult to accurately predict, including those discussed in the Risk Factors set forth in the Company's Form F-1 filed with the SEC. Reconciliations of forward-looking non-IFRS measures, specifically Leverage Ratio guidance, to the relevant forward-looking IFRS measures are not being provided, as the Company does not currently have sufficient data to accurately estimate the variables and individual adjustments for such guidance and reconciliations. Due to this uncertainty, the Company cannot reconcile projected Leverage Ratio to projected net income without unreasonable effort. The 2025 financial guidance constitutes forward-looking statements. For more information, see the "Forward-Looking Statements" section in this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250310052802/en/

IR Contact

Email: contact@aunainvestors.com