LUXEMBOURG, August 21, 2024–(BUSINESS WIRE)–Auna (NYSE: AUNA) (“Auna” or the “Company”), a leading healthcare platform in Latin America with operations in Mexico, Colombia and Peru, today announced unaudited financial results for the second quarter ended June 30, 2024 (“second quarter 2024” or “2Q24”). Financial results are expressed in Peruvian Soles (“S/” or PEN”) and are presented in accordance with International Financial Reporting Standards (“IFRS”), unless otherwise noted.
2Q24 Consolidated Highlights
Consolidated Revenue increased 18% YoY to S/1,120 million
Operating profit increased 34% YoY to S/183 million
Adjusted EBITDA increased 31% YoY to S/248 million, equivalent to 25% FXN (Foreign Exchange Neutral)
Adjusted EBITDA Margin of 22.1%, up 2.0 p.p. YoY and 0.5 p.p. YTD
Leverage ratio improved to 4.13x from 4.46x in 1Q24 and 4.89x in 2Q23
Recent Event
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On July 1, 2024, Auna announced the launch of OncoMexico, the country’s first integrated oncology insurance, in Monterrey. The pilot phase during 2024 will develop and confirm the capabilities needed for full deployment in 2025. OncoMexico offers access to prevention, early detection, and treatment of cancer, the third leading cause of death in Mexico. OncoMexico is the first step toward replicating in Mexico the vertically integrated healthcare model that Auna successfully operates in Peru.
Message from Auna’s Executive Chairman and President
Second quarter results affirm again the effectiveness of our business model and how increased scale and maturity drive incremental value throughout our platforms of care. During the quarter we gained momentum, with Adjusted EBITDA increasing 31% YoY, or 25% FXN YoY, and keeping us on track to deliver at least 20% FXN Adjusted EBITDA growth this year. Our strong quarterly performance was achieved despite additional investments made to implement the AunaWay in Monterrey, where we continue to make headway recruiting the right physicians and expanding our delivery of high-complexity care. As more physicians recognize the many distinct advantages of the AunaWay and join our team, we are beginning to see increases in doctor productivity. New physician recruitment and compensation models are producing growth in a number of high-complexity services. During the remainder of the year and into 2025 we expect to harvest our efforts to raise occupancy levels in Mexico, particularly occupancy related to high-complexity care. All of this is a deliberate and gradual process that results from fostering our unique culture of patient care in Monterrey.
Both our Peruvian and Colombian operations continued to perform well during the quarter, further validating our scalable business model and growth strategy. Given the increasing predictability of our diversified regional platform’s performance, we remain confident in our plan to achieve similar performance levels in Mexico.
Our payors are also integral to succeeding in Mexico, many of which are already familiar with Auna’s high standards of care. We are offering them tailored products and bundled services similar to those in Peru and Colombia, where we have forged many win-win partnerships.
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We are very proud to have launched OncoMexico. Leveraging our 35 years of experience in integrated oncological services and AunaSeguros’ (previously Dentegra) strong and extensive distribution platform in Mexico, we will gradually roll out OncoMexico, the country’s first integrated cancer insurance plan. We intend to replicate our past success, including the goal of operating with the same long-term Medical Loss Ratio (“MLR”) and high standards of OncoSalud. During the rest of this year, we will establish the necessary capabilities to roll-out OncoMexico at scale in 2025, including commercial, clinical and risk-underwriting operations, among others.
Looking ahead, we remain excited about Auna’s near and long-term growth opportunities, particularly given that we are in the relatively early stages of penetrating Spanish-speaking Latin America’s fragmented and underserved healthcare market. Through our unique operating model and scalable regional platform, we will continue to disrupt, modernize, and increase access to integrated healthcare in the region, always with the aim of providing high value to our patients, their families, Auna staff, and shareholders.
Overview of 2Q24 Consolidated Results
Consolidated revenues increased 18% YoY to S/1,120 million, or 12.5% FXN, as a result of Auna’s business mix, with revenues increasing 15% and 18% FXN in Peru and Colombia, respectively. In Mexico, revenues increased 3% FXN, reflecting an improved service mix through the implementation of the AunaWay.
Auna’s Peruvian operation continues to outperform, demonstrating again the success of the Company’s vertically integrated business model when operating at scale.
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Adjusted EBITDA increased 31% YoY, or S/58 million, to S/248 million, or 25% on an FXN basis, with the corresponding margin expanding to 22.1% on solid revenue growth and increasing efficiencies across local and regional levels as the Company continues to capture synergies and streamline processes. Operating profit increased 34% YoY, mainly due to a 19% increase in gross profit.
Net finance costs were S/182 million. When excluding FX effects, net interest expenses would have been S/133 million, an increase of 5% versus 2Q23. These FX effects include a negative non-cash accounting FX expense of S/49 million, corresponding mainly to the movement of the Peruvian Sol below the floor of USD/PEN hedges.
Net Income was S/8 million in 2Q24, compared to a Net loss of S/8 million in 1Q24 and Net income of S/23 million in 2Q23. The increases in Operating profit and deferred tax benefits versus 2Q23 were offset by the abovementioned negative FX effect.
Adjusted Net Income was S/13 million in 2Q24, lower than S/36 million in 2Q23 and S/22 million in 1Q24, mainly due to the negative non-cash FX effect explained above. On a quarterly per share basis, Auna reported Net Income of S/0.05 and Adjusted Net Income of S/0.12, both based on a weighted average number of outstanding shares of 73,970,299, which includes a stock-based payment for 52,722 shares granted but not yet issued.
For a full version of AUNA’s Second Quarter 2024 Earnings Release, please visit: https://aunainvestors.com/English/financial-information/quarterly-results/
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Conference Call Details
When: 5:00 p.m. Eastern time, August 21st, 2024
Who: Mr. Suso Zamora, Executive Chairman of the Board and President; Mrs. Gisele Remy, Chief Financial Officer and Executive Vice President; Ms. Ana Maria Mora, Head of Investor Relations
To access Auna′s financial results call via telephone, callers need to press # to be connected to an operator.
Webcast: click here
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, our expected 2024 Adjusted EBITDA growth, the expected impact on revenues and profitability of certain initiatives we are pursuing in Mexico 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.
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2024 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.
The 2024 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 United States Securities and Exchange Commission (the “SEC”). Reconciliations of forward-looking non-IFRS measures, specifically the 2024 EBITDA 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 EBITDA to projected net income without unreasonable effort. The 2024 financial guidance constitutes forward-looking statements. For more information, see the “Forward-Looking Statements” section in this release.
About AUNA
Auna is a leading healthcare platform in Latin American healthcare company 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 June 30, 2024, Auna’s network included 31 healthcare network facilities, consisting of hospitals, outpatient, prevention and wellness facilities with a total of 2,308 beds, and 1.3 million healthcare plans.
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For more information visit www.aunainvestors.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20240821215904/en/
The Penn Township commissioners unanimously voted Wednesday to fire Finance Director Jaime Peticca after about five months on the job.
Peticca was hired by the township Aug. 20 to fill a vacancy left by Colleen Gain, who resigned in June.
Township Secretary/Manager Mary Perez declined to comment on the reason for Peticca’s termination. Perez said her last day was Jan. 9.
Attempts to reach Peticca on Wednesday evening were unsuccessful.
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Before working for the township, Peticca worked about three years as manager of Trafford Borough and 3½ years as secretary and zoning officer for South Greensburg. She also previously worked as a recruitment specialist and membership manager for the Girl Scouts of Western Pennsylvania.
Perez, who is operating as the interim finance director, said the township will advertise the position in the coming weeks.
It has been difficult for the township to fill vacant job posts in recent years, she said. A code enforcement officer and building inspector role that commissioners will vote on filling next week has been empty for nearly two years, Perez said.
“It’s helpful if (candidates) have government experience. A lot of folks do not,” Perez said. “It’s difficult to find someone from another municipality. A lot of what we do is different than the private sector. There’s a lot of unique reporting requirements that we have that they just aren’t familiar with when they come in.”
The finance director is the only employee of its kind in Penn Township, meaning that person manages everything from accounts and payroll to audits and financial reporting.
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“We have a larger budget,” Perez said. “We need to have someone here who understands how to read those financial statements, how to prepare those financial statements alongside our auditors and perform the accounting functions that are necessary to issue those statements.”
The township commissioners approved a $12 million spending plan for 2026 in December, holding property taxes at 17.4 mills and the fire tax at 1.3 mills.
While you certainly do not have to wait for the beginning of the new year to overhaul your financial habits, the calendar’s fresh start can offer a natural opportunity to reassess. But all too often, when we identify an area of our life that is not quite going as planned, there is a temptation to tear it all down and start from scratch, in the form of a broad-ranging — and overwhelming — resolution.
Sometimes, though, making small tweaks to existing habits, or introducing some fresh ones, is all it takes to course correct, allowing one good financial decision to snowball into the next. Sounds more manageable, right? Read on for some ideas to get started.
1. Dial up your retirement contributions
Increasing the amount you are diverting to retirement savings is easy enough to do, and it can make a sizable impact over time. As an illustration, a “worker who raises contributions by just 1% in their mid-20s — starting at a 5% rate and bumping up to 8% over three years — could accumulate about $84,000 more by retirement than someone who never increases their rate,” said Investopedia, citing analysis by J.P. Morgan.
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While on first glance, diverting more of your funds may seem like a stretch for your budget, “often, you can increase your retirement contributions without making a meaningful difference to your current lifestyle,” especially if the increments are smaller, such as an increase of 1%, said Yahoo Finance.
2. Start tracking your spending
This is another small adjustment that can result in major shifts to your financial life, both in terms of your understanding of where your money is going and in how much you spend. Once you start paying closer attention to your expenditures, you might realize that “some impulse purchases that you shrug off on a regular basis might be having a bigger impact on your bottom line than you think,” said Citizen’s Bank. This can also provide an opportunity to evaluate whether your spending is actually aligned with your larger goals (more on that next).
There are a variety of apps you can use to make this tracking super simple, or you can always make a simple spreadsheet to update regularly.
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3. Set goals and intentionally work toward them
When it comes to saving, budgeting or investing, it can be hard to get motivated if you do not know what you are getting motivated for. Defining your financial goals, both for the short- and long-term, can provide you with some much-needed clarity, and also ensure you start taking the actions necessary to actually achieve those goals.
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What shape these goals take is entirely up to you. For instance, “one person’s goals might be to pay off their student loans and save for a down payment on a house,” while “another might want to sock away enough cash in an online bank account to start their own business down the road,” said SoFi. It is really all about making your money work for you, instead of the other way around.
Former Ghana Finance Minister Kenneth Ofori-Atta was detained by US Immigration and Customs Enforcement (ICE) on January 6 in Washington, DC, where he remains in custody at the Caroline Detention Facility in the state of Virginia. His detention follows Ghana’s December 10 formal extradition request to the US Department of Justice for Ofori-Atta, who faces 78 counts of corruption and corruption-related offenses.
ICE agents arrested Ofori-Atta around 11:00 AM at a luxury apartment complex in Washington, DC. According to the ICE Online Detainee Locator System, Ofori-Atta remains “in ICE custody” as of January 11, 2026. Ghana’s Attorney General and Minister of Justice Dr. Dominic Ayine confirmed that Ofori-Atta is represented by private legal counsel. His lawyer, Frank Davies, stated that Ofori-Atta traveled to the United States for medical treatment and that a legal challenge to his custody has been filed in court. According to a January 10, 2026 press release signed by Ghana’s Ambassador to the United States Victor Emmanuel Smith, Ofori-Atta has declined consular assistance from the Ghana Embassy.
The US State Department revoked Ofori-Atta’s visa in 2025, according to Ghana’s Attorney General Dominic Ayine. The Attorney General further emphasized that it was the visa revocation—rather than a visa overstay or expiration—that triggered US federal enforcement action. The US Department of Justice is currently reviewing Ghana’s extradition request under the “dual criminality” doctrine, which requires confirmation that the alleged financial crimes in Ghana would also be prosecutable in the United States.
Kenneth Ofori-Atta served as Ghana’s Finance Minister under former President Nana Addo Dankwa Akufo-Addo. He faces charges related to alleged corruption in multiple government contracts, including a GHS 125 million contract between the Ghana Revenue Authority (GRA) and Strategic Mobilisation Limited (SML), the $400 million National Cathedral Project, ambulance procurement for the Ministry of Health, and electricity company contracts. Ghana’s Office of the Special Prosecutor (OSP) formally charged Ofori-Atta on November 18, 2025. The OSP seeks to recover misappropriated public funds through the government’s Operation Recover All Loots (ORAL) initiative launched after the National Democratic Congress won the 2024 presidential election.
The extradition request follows a months-long effort by Ghanaian authorities to secure Ofori-Atta’s return. The OSP requested Ofori-Atta appear for questioning on February 10, 2025 via a letter dated January 24, 2025. His solicitors responded January 31, stating he had left Ghana in early January for medical treatment in the United States and was “out of the jurisdiction indefinitely for medical examinations.” The solicitors requested rescheduling and offered to provide information to aid investigations.
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On February 10, the OSP directed Ofori-Atta to provide a reasonable return date, warning that failure to comply would compel the OSP to “take all legal steps to secure his return to the jurisdiction.” His solicitors responded the same day, stating a doctor recommended he remain in the US for possible surgical intervention. The following day, February 11, his solicitors inquired whether the OSP conducted a search of Ofori-Atta’s premises, which the OSP denied.
During a February 2025 press conference, the OSP declared Ofori-Atta a fugitive, stating it was unconvinced by the medical report and disagreed that returning to Ghana would endanger his life. The OSP characterized his extended stay as “an attempt to avoid return to the jurisdiction.” By June 2025, Ghana secured a judicial arrest warrant and successfully placed Ofori-Atta on Interpol’s Red Notice database, though the notice was temporarily removed from public visibility following a challenge by the accused. The OSP transmitted a letter to the Attorney General on December 9 requesting formal extradition proceedings.
The charges against Ofori-Atta and seven other individuals include conspiracy to commit the criminal offense of directly or indirectly influencing the procurement process to obtain unfair advantage in contract awards, contrary to section 23(1) of the Criminal and Other Offenses Act, 1960 (Act 29) and section 92(2)(b) of the Public Procurement Act, 2003 (Act 663) as amended by Act 914. The charges stem from investigations into alleged corruption and financial irregularities in the GHS 125 million contract between the Ghana Revenue Authority and Strategic Mobilisation Limited. The Special Prosecutor is seeking to recover the amount, describing it as unjust enrichment obtained through unlawful means.
Among the most prominent allegations against Ofori-Atta involves the National Cathedral Project. In November 2024, the Commission on Human Rights and Administrative Justice concluded an investigation into the project, which was initiated by former President Akufo-Addo with an estimated cost of $100 million from private funds. The cost surged to $400 million, with the investigation revealing that the contract awarded to Ribade Company Ltd was void ab initio for violating mandatory provisions of the Procurement Act. The investigation recommended that the Board of Public Procurement Authority cancel the contract and investigate the Board of Trustees. Ofori-Atta allegedly authorized the release of $58 million in state funds toward construction costs. The project remains an incomplete excavation site in central Accra, on land formerly occupied by government buildings and judges’ residences. Additional charges relate to alleged corruption in ambulance procurement for the Ministry of Health and the termination of a contract between the Electricity Company of Ghana and Beijing Xiao Cheng Technology.
The extradition proceedings will be governed by Ghana’s Extradition Act, 1960 (Act 22), which applies where an extradition agreement exists with the requesting state. Section 2 of the Act mandates declining extradition requests if the offense is of a political character, with a Magistrate responsible for determining whether charges meet this standard.
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Article 40 of Ghana’s 1992 Constitution requires Ghana to observe treaty obligations and settle international disputes peacefully. This aligns with Article 1 of the UN Charter, which requires states to maintain friendly relations based on principles of equality and respect for human rights. The principle of pacta sunt servanda, enshrined in Article 26 of the 1969 Vienna Convention on the Law of Treaties (VCLT), requires states to observe treaty obligations in good faith. Both Ghana and the United States are bound by their extradition agreement and are barred from invoking municipal law to avoid treaty obligations under Article 27 of the Vienna Convention, except in circumstances permitted under Article 46, which addresses capacity to conclude treaties and inconsistencies with normal practice and good faith.
The extradition request comes as Ghana and the United States maintain reciprocal cooperation on extradition matters. Ghana previously cooperated with US extradition requests, including the extradition of Ghanaian citizens to the United States for alleged crimes against US citizens. In one case, Abu Trica and other Ghanaian citizens were extradited to face charges related to an alleged $8 million romance scam targeting US citizens, demonstrating the mutual nature of bilateral treaty obligations.
The case against Ofori-Atta represents part of broader anti-corruption efforts in Ghana. Corruption has been a persistent challenge in the country since independence, with state officials diverting public resources to personal ventures. Ghana has implemented multiple measures to combat corruption, including Article 8(2) of the 1992 Constitution and Section 16 of the Citizenship Act, 2000 (Act 591), which restrict dual citizens from occupying certain key offices. The country has also created specialized institutions including the Office of the Special Prosecutor and the Economic and Organised Crimes Office. The 2024 presidential and parliamentary elections saw a change in political power, with the National Democratic Congress defeating the New Patriotic Party by approximately one million votes. The worst recorded corruption cases under Ghana’s fourth republic occurred during Ofori-Atta’s tenure as Finance Minister, prompting public demands for accountability that influenced the election outcome. The current NDC administration immediately established Operation Recover All Loots to recover misappropriated public funds.
Opinions expressed in JURIST Dispatches are solely those of our correspondents in the field and do not necessarily reflect the views of JURIST’s editors, staff, donors or the University of Pittsburgh.
