Healius Limited · ASX:HLS
Healius — Primary Health Care — FY2006 Earnings Presentation
15 slides from Healius's earnings presentation, Aug 8, 2006
Slide 1: Primary Health Care Ltd Results Presentation
Primary Health Care Ltd Financial Year Ended 30 June 2006 Results Presentation 8 August 2006
Slide 2: Financial Results: Summary
Financial Results : Summary z EBITDA and EBITA up 31% and 34% over 2005 - Driven largely by organic revenue growth, medical centre margin gains and contribution by Health Technology ($ Million, except EPS) 2006 growth 2005 Revenue 241.9 25% 193.7 EBITDA 94.5 31% 72.2 EBITA 80.1 34% 59.9 NPAT 47.5 26
Slide 3: Financial Results: Income Statement
Financial Results : Income Statement z Segmental ($ 000s) 2006 2005 Medical centres 69,704 56,345 Pathology 14,004 13,144 - All segments meeting Health Technology 9,559 (46) expectations Investments/other 1,191 2,779 EBITDA 94,458 72,222 - Medical centre results Depreciation 14,397 12,367 after head
Slide 4: Financial Results: Per Share Results
Financial Results : Per Share Results – Reported earnings per share up 16% on prior period to 39.37cps – Final dividend of 22.0c fully franked (13.0 cents 2005 ) – Interim dividend was 20.0c fully franked ( 12.0 cents 2005 ) – Payable 25 September 2006. Record date 8 September 2006 – DRP/BSP discoun
Slide 5: Financial Results: Special Dividend
Financial Results: Special Dividend – Special dividend of 8.0c fully franked – Payable 30 October 2006. Record date 13 October 2006 – Cash dividend ( BSP/DRP do not apply ) – Substantial franking credit balance still available – Distributable from retained reserves
Slide 6: Financial Results: Balance Sheet
Financial Results : Balance Sheet 30/06/06 30/06/05 $m $m Debt to Equity : Receivables 33.4 34.0 06/06 06/05 Investments 3.5 0.2 31% 25% Plant and equipment 139.6 107.0 Goodwill/Intangibles 367.2 331.7 EBITDA interest cover: (assuming 7.00%) Total Assets 543.7 472.9 06/06 06/05 Liabilities 29.1 39.0
Slide 7: Slide 7
Slide 8: Operations: Medical Centres
Operations : Medical Centres – GP patient attendances up 16.6% to 3.44m for the year – July 2006 GP patient attendances up 20% on prior year – 7 centres opened in FY 2006 all increasing in line with expectations – 7 new medical centres opened successfully during period accounted for 6% growth in pat
Slide 9: 16/04/2006
16/04/2006
Slide 10: Operations: Medical Centres
Operations : Medical Centres z Strength of core business – EBITDA for all centres up 24% – Margins improvement across all centres to 49.5% from 48.3% prior year and 49.0% six months to 31 December 2005 – After charging share option expense of $2.1m (prior period $1.3m) – Same-centre EBITDA growth pe
Slide 11: Operations: Pathology
Operations : Pathology ($ 000s) 2006 growth 2005 growth 2004 Revenue 79,136 16% 68,280 8% 63,217 EBITDA 14,004 6.5% 13,144 5.8% 12,421 Margin 17.7% 19.3% 19.6% EBITA 12,596 9% 11,581 6% 10,921 Margin 15.9% 17.0% 17.3% - Organic Growth component of Revenue very encouraging Margins affected by: - Infr
Slide 12: Health Technology
Health Technology: z Product Suite all showing growing subscriber support – MD3 released with circa 600 sites migrated and live with circa 1600 known users – Integrated decision support – www.mdreference.com.au achieving compounding growth – Practice Management and USE applications increasing market
Slide 13: Future Growth: Medical Centres
Future Growth : Medical Centres 24 Centres opened prior to 30 June 2005 7 Centres opened FY06 31 Centres open at 30 June 2006 5 Further centres scheduled to open 2H FY07 4 Further centres estimated to open 1H FY08 40 Centres open by 31 December 2007
Slide 14: Future Growth
Future Growth z Medical centre growth to come from: Historic organic growth of established centres Newly opened centres Further 9 centres by 31 December 2007 Still fragmented market (estimate Primary share 3% National Market) z Investment for each new centre continues in line with historical z Curre
Slide 15: Focus for FY 2007
Focus for FY 2007 z Medical Centres – Continue roll-out of new centres particularly inter-state – Improve and leverage existing centres – Continued cost and administrative pressures for small GP practices will work to advantage of our model – Demand for services driven by ageing population, improvin