Healius Limited · ASX:HLS
Healius — Primary Health Care — H1 2007 Earnings Presentation
12 slides from Healius's earnings presentation, Feb 6, 2007
Slide 1: Primary Health Care Ltd Half Year Results Presentation
Primary Health Care Ltd Half Year Ended 31 December 2006 Results Presentation 6 February 2007
Slide 2: Financial Results: Summary
Financial Results : Summary z EBITDA and EBITA up 18% and 20% over 1H2006 - Driven by organic revenue growth ($ Million, except EPS) 1H2007 growth 1H2006 growth 1H2005 Sales revenue 135.2 16% 116.8 40% 83.3 EBITDA 53.2 18% 44.9 20% 30.5 EBITA 45.4 20% 37.9 53% 24.7 NPAT 26.8 20% 22.4 25% 17.9 Normal
Slide 3: Financial Results: Income Statement
Financial Results : Income Statement z Segmental ($ 000s) 1H 2007 1H 2006 1H 2005 Medical centres 39,122 33,081 24,368 - Medical centre organic Pathology 7,042 6,993 6,160 revenue and margin Health Technology 5,414 4,697 - growth Investments/Other 1,633 142 2,515 EBITDA 53,211 44,913 33,043 Deprecia
Slide 4: Financial Results: Per Share Results
Financial Results : Per Share Results – Reported earnings per share up 16% on prior period to 21.61cps – Normalised earnings per share up 15% on prior period – Interim dividend of 21.0c fully franked (20.0 cents prior period ) – Payable 2 April 2007. Record date 16 March 2007
Slide 5: Financial Results: Balance Sheet
Financial Results : Balance Sheet 31/12/06 30/06/06 31/12/05 $m $m $m Debt to Equity : Receivables 42.7 34.1 39.8 12/06 06/06 12/05 Investments 100.6 3.5 1.9 59% 31% 29% PP&E 149.9 139.6 123.5 35% 31% 29% Goodwill/Intangibles 384.7 367.2 349.7 (ex SYB inv) Total Assets 677.9 544.4 514.9 Liabilities
Slide 6: Operations: Medical Centres
Operations : Medical Centres – GP patient attendances up 18% to 1,953,000 for the period – January 2007 GP patient attendances up 17% on prior year – 1 new medical centre opened successfully during period accounted for just 0.5% growth in patient attendances – Medical Centre revenues to PRY up $10.7
Slide 7: Operations: Medical Centres
Operations : Medical Centres z Strength of core business – EBITDA for all centres up 18% – Margins improvement across all centres from 49% to 50% – After charging share option expense of $1.3m (prior period $1.0m) – Recurrent capital expenditure continues at or below historic levels
Slide 8: Operations: Pathology
Operations : Pathology z Financial Performance ($ 000s) 1H 2007 growth 1H 2006 growth 1H 2005 Revenue 44,148 14.2% 38,658 15.7% 33,410 EBITDA 7,042 0.7% 6,993 13.5% 6,160 Margin 16.0% 18.1% 18.4% EBITA 6,369 3.5% 6,152 15.8% 5,314 Margin 14.4% 15.9% 15.9%
Slide 9: Operations: Pathology
Operations : Pathology z On Growth Path – Revenue growth at 14.2% over p.c.p. – Possible market share expansion given overall market appears to be growing at circa 5% – Market share growth is organic. No acquisition impact. – NSW operating margins being maintained – Non-NSW margins low but improving
Slide 10: Operations: Health Technology
Operations : Health Technology z Building Upon Base z EBITDA Contribution of $5.4m for the six months up on P.C.P z Each product continues to retain / grow subscription numbers z Focus as per normal – – improving functionality and robustness of products – creating a flexible and modular development
Slide 11: Operations: Health Technology
Operations : Health Technology z Medical Director No. Of Sites Subscribing to Medical Director z Subscription numbers and revenue showing 6200 changes starting to have 6000 traction in market 5800 5600 Medical z Take up of Medical 5400 Director Director 3 now reaching 5200 30% of existing MD user 50
Slide 12: Future Growth: Medical Centres
Future Growth : Medical Centres 31 Centres opened prior to 30 June 2006 1 Centre opened first half FY07 3 Centres will open second half FY07 35 Estimated centres open at 30 June 2007 5 Further centres estimated to open by 31 December 2007 40 Centres open by 31 December 2007