Healius Limited · ASX:HLS
Healius — Primary Health Care — FY2007 Earnings Presentation
12 slides from Healius's earnings presentation, Aug 7, 2007
Slide 1: Primary Health Care Ltd Results Presentation
Primary Health Care Ltd Financial Year Ended 30 June 2007 Results Presentation 7 August 2007
Slide 2: Financial Results: Summary
Financial Results : Summary z EBITDA up 21% over 2006 z Operating EBITDA and EBITA up 15% over 2006 excluding investments - Driven by organic medical centre revenue/margin growth ($ Million, except EPS) 2007 growth 2006 growth 2005 Sales revenue 280.4 16% 241.9 25% 193.7 EBITDA 114.3 21% 94.5 31% 72
Slide 3: Financial Results: Income Statement
Financial Results : Income Statement z Segmental ($ 000s) 2007 2006 2005 Medical centres 82,067 69,975 56,345 - Continued medical Pathology 14,256 14,004 13,144 centre organic Health Technology 10,840 9,559 (46) Investments 7,143 920 2,779 revenue and margin EBITDA 114,306 94,458 72,222 growth Depre
Slide 4: Financial Results: Per Share Results
Financial Results : Per Share Results – Reported earnings per share up 16% on prior period to 45.76cps – Final dividend of 24.0c fully franked (22.0 cents 2006) – Interim dividend of 21.0c fully franked (20.0 cents 2006) – Payable 24 September 2007. Record date 7 September 2007 – DRP/BSP to continue
Slide 5: Financial Results: Balance Sheet
Financial Results : Balance Sheet 30/06/07 30/06/06 30/06/05 $m $m $m Debt to Equity : Cash/Receivables 40.5 34.1 34.0 06/07 06/06 06/05 Investments 2.4 3.5 0.2 40% 31% 25% Plant and equipment 151.4 139.6 107.0 Goodwill/Intangibles 412.2 367.2 331.7 EBITDA interest cover: (assuming 7.00%) Total Asse
Slide 6: Operations: Medical Centres
Operations : Medical Centres – Primary GP patient attendances up 16% to 4 million for the year while Medicare Australia data 12 month attendance growth slowed to 1.5% – 4 new medical centres opened during period 1 in Victoria (December) and 3 in Queensland (February, May, June ) – New centres accoun
Slide 7: Operations: Medical Centres
Operations : Medical Centres – EBITDA for all centres up 17% – Margin improvement across all centres from 49.6% to 50.5% – Total of 93 new practices contracted for in year – Since 1 July 2007 42 new practices contracted for FY08 – Recurrent capital expenditure continues at historic levels
Slide 8: Operations: Pathology
Operations : Pathology ($ 000s) 2007 growth 2006 growth 2005 Revenue 88,854 12% 79,136 16% 68,280 EBITDA 14,256 1.8% 14,004 6.5% 13,144 Margin 16.0% 17.7% 19.3% EBITA 12,887 2.3% 12,596 8.8% 11,581 Margin 14.5% 15.9% 17.0%
Slide 9: Operations: Pathology
Operations : Pathology z Continued organic revenue growth – Revenue growth at 12.2% over prior year ( Medicare Australia data for 12 months 6% growth ) – Market share growth is organic. No acquisition impact. – NSW operating margins being maintained – Non-NSW margins low but stabilised – Operating m
Slide 10: Operations: Health Technology
Operations : Health Technology z Solid improvement in results and continuing product improvement z EBITDA Contribution of $10.8m for the year up 13% on prior year z Small margin improvement positive as high margin advertising revenue has decreased on prior year z HCN revenue 5% increase despite adve
Slide 11: Future Growth: Medical Centres
Future Growth : Medical Centres New Centres 35 Centres opened at 30 June 2007 5 Further centres estimated to open next 6 months 6 Further sites under consideration/negotiation Current increase in doctor recruitment
Slide 12: Investment in Symbion Health
Investment in Symbion Health z Investment of $363m - 13.65% of Symbion z No options ruled out z No comment beyond the above