Healius Limited · ASX:HLS
Healius — Primary Health Care — FY2003 Earnings Presentation
12 slides from Healius's earnings presentation, Aug 20, 2003
Slide 1: Primary Health Care Ltd Results Presentation
Primary Health Care Ltd Financial Year Ended 30 June 2003 Results Presentation 20 August 2003
Slide 2: Financial Results 30 June 2003 - Summary
Financial Results 30 June 2003 z Summary – EBITDA and EBITA (excl. property sales) up ~ 36% over prior period – Driven by organic revenue growth and improved operating margins ($ Million, except EPS) FY2003 growth FY2002 growth FY2001 Sales revenue (excl. property sales) 127.0 23% 103.1 15% 89.8 EBI
Slide 3: Financial Results - Segmental
Financial Results 30 June 2003 ($ 000s) FY 2003 FY 2002 FY 2001 z Segmental Medical centres 36,996 26,680 20,937 – Medical Centres Pathology 9,655 8,143 7,254 major driver Head office expenses (5,002) (4,170) (3,135) – Property Sale of properties 3,190 (328) - EBITDA 44,839 30,325 25,056 sales compl
Slide 4: Financial Results - Per Share Results
Financial Results 30 June 2003 z Per Share Results – Reported earnings per share up 81% on prior period to 12.6cps – Normalised earnings per share up 45% on prior period to 21.9cps (Normalised to remove impact of amortisation of goodwill) – Final dividend of 7.5c per share taking total FY03 dps to 1
Slide 5: Financial Results - Earnings quality strong
Financial Results 30 June 2003 z Earnings quality strong – Cashflow from operating activities up 28% to $27.2m • Mirroring reported tax and interest adjusted EBITDA from operating activities – Days Receivables Outstanding maintained over the period • Maintained despite revenue growth of 23% • Mainta
Slide 6: Operations - Medical Centres I
Operations - Medical Centres I z Increasing doctor and community acceptance – GP attendances up 34% to 2.145m for the period – Revenues to PRY up 43% to $75.7m for the period – Doctors continuing to join z Maintenance of operational performance – EBITDA for all centres up 42% to $32.0m – EBITA for a
Slide 7: Operations - Medical Centres II
Operations - Medical Centres II z Established centres continue to experience growth in patient acceptance & utilisation z Established centres continue to expand depth and breadth of service offering to patients reflected in increased centre EBITDA per GP visit z Newly opened centres showing evidence
Slide 8: Operations - Pathology I
Operations – Pathology I z Results – 21% increase in EBITA achieved over p.c.p. – Driven by • organic top-line referral growth • improved operating margins ($ 000s) FY 2003 growth FY 2002 growth FY 2001 Revenue 56,526 8% 52,263 1% 51,766 EBITDA 9,655 19% 8,143 12% 7,254 Margin 17.1% 15.6% 14.0% EBIT
Slide 9: Operations - Pathology II
Operations – Pathology II z Outlook – Focus upon operational improvements to drive superior levels of service to referring practitioners and their patients – Bring SDS up to match profitability of peers – Revenue growth in excess of market underwritten by medical centre operations – Margin improveme
Slide 10: Operations - Information Technology
Operations - Information Technology z Doctors Desktop Solution – IT solution now in all centres. Significant in-house IT capability now present. Our IT infrastructure is a material advantage in centre development and management – Certain medical centres mildly impacted by roll-out over the period –
Slide 11: Future Growth
Future Growth z 11 new centres opened in the last 18 months (with five in the last 12 months) z Current centre profile will continue to provide growth to the group, especially over the next two years z Starting to see the underlying strength of operations z Negotiations for new sites underway in Sou
Slide 12: Major Opportunities
Major Opportunities z Medical Environment – All government incentives net dollar increase to our doctors & clearly of benefit to the company – Apparent reduction in general community bulk-billing – working to advantage of Primary z Bulk Billing – PRY believes funded bulk-billing to be the most effic