Cleopatra Hospitals Group Plans EGP 2 Billion Investment in Cairo Expansion

Cleopatra Hospitals Group Plans EGP 2 Billion Investment in Cairo Expansion

By Staff Writer, 04 February 2024

Cleopatra Hospitals Group is set to embark on a substantial investment of EGP 2 billion over the next 18 months, aligning with its profit expectations strategy focusing on earnings before interest, taxes, and depreciation for the next two years.

The primary areas of concentration for this investment include the completion of the initial and secondary phases of the Sky Hospital project situated in East Cairo, the expansion of Cleopatra October facilities located in West Cairo, and the enlargement of outpatient clinic centers. Notably, the investment figure excludes any potential expansions beyond Cairo.

The company has confirmed that the capital expenditures will be entirely funded through internal sources and existing bank facilities.

Anticipating a robust 35% annual growth in revenues for 2023, Cleopatra Hospital also forecasts a remarkable 44% annual revenue growth for the last quarter of the previous year.

This optimistic outlook is underpinned by an upswing in the number of cases handled by the group during the same period, coupled with the positive impact stemming from enhanced operational efficiency and the diversification of healthcare services offered.

Cleopatra Hospital reported a noteworthy 29% surge in profits during the first nine months of the preceding year, reaching EGP 344.9 million, in stark contrast to the EGP 267.1 million profit recorded during the corresponding period in 2022.

This substantial increase reflects the company's robust financial performance.

Source: Fatma Salah / Daily News Egypt

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