Final Results RNS London Stock Exchange

In addition to the above facilities, term loans also include other short term revolving loans which get drawn down and repaid over the year. The Group has charged an amount of US$6,794,000  to the consolidated income statement with respect to unamortised transaction costs of existing debts which have been settled using proceeds of new syndicate loan. During the year, the Group entered two syndicated facilities amounting to US$825m and US$250m. These syndicated facilities were used to settle an existing syndicated loan and for acquisition purposes. New facilities are repayable over 60 and 84 monthly instalments respectively with a grace period of twelve months.

The key assumption in estimating the liability amount is the forecasted EBITDA of the year 2018 and 2019 and projected net debt of 2019. The financial liability is sensitive to changes in the forecasted EBITDA and Net Debt. For example a 10% simultaneous increase in EBITDA and Net debt will result in an increase in the financial liability with US$866,000 while a 10% decrease would result in a decrease in the financial liability with US$866,000 . Historical volatility over the period since the Company’s shares have been publically traded.

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The Group is also a leading UAE supplier of products and consumables across several key market segments, with the major contribution coming from healthcare related products. The Group reported revenues of US$1.6 billion for the year ended 31 December 2017. Forex broker Plus500 is a reliable company offering comfortable conditions for cooperation.

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Accounts payable are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method. Lease costs in respect of capital work in progress are capitalised within capital work in progress during the period up until it is commissioned. When commissioned, capital work in progress is transferred to the appropriate property and equipment asset category and depreciated in accordance with the Group’s policies. The carrying amounts of capital work in progress are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. If any such indication exists and where the carrying values exceed the estimated recoverable amount, the assets are written down to their recoverable amount.

Restricted cash mainly represents funds held by a bank in respect of upcoming loan repayment and payment for acquisitions. Additions to goodwill in the year relate to goodwill measured in respect of the acquisitions of  Al Zahra Private Hospital plus500 forex broker Company , As Salama Hospital LLC, Hamad Drug Store LLC, Atlas Healthcare, Al Qadi Speciality Hospital LLC and Fecunmed. During the year deferred consideration amounting to US$ 4,356,000 in respect of Fakih IVF and Nadia has been paid.

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NMC is steadily moving to build on its position as the second largest IVF player in the world and is focusing on expanding its footprint in the GCC, as well as other geographies in the coming months. One of the most important developments in this regard is the recent acquisition of Al Salam Medical Group, which will allow NMC to establish its first IVF clinic in Riyadh. The maternity & fertility vertical posted US$205m revenues in in 2017, translating into 17% YoY growth.

Management has completed a detailed assessment to estimate the potential impact of adopting the requirements of IFRS 15 by reviewing all its material revenue streams. The adoption of the new revenue accounting standard is not likely to have a material impact on the Group’s revenue or profitability. However, there will be some changes which will be required to comply with the new disclosure requirements of the new standard. The standards and interpretations that are issued, but not yet effective, up to the date of issuance of the Group’s financial statements are listed below. The Group intends to adopt these standards, if applicable, when they become effective.