Monash Ivf Group Ltd · ASX:MVF
Monash Ivf — H1 2021 Earnings Presentation
28 slides from Monash Ivf's earnings presentation, Feb 24, 2021
Slide 1: FY21 Half Year Results Presentation
INS Monash IVF Group Leading the future of reproductive care FY21 Half Year Results Presentation 24 February 2021
Slide 2: Disclaimer
Disclaimer The presentation has been prepared by Monash IVF Group Limited (ACN 169 302 309) (‘MVF") (including its subsidiaries, affliates and associated companies) and provides general background information about MVF's activities as at the date of this presentation. The information does not purpor
Slide 3: 1H21 Executive Summary
1H21 Executive Summary * $146m Reported NPAT attributable to ordinary equity holders, an increase of 78.5% on pop; * $12.0m Adjusted NPAT” representing 32.0% growth on popand above profit guidance provided in November 2020 of between $11.0m and $11.5m; * 274% Monash IVF Australia stimulated cycle gr
Slide 4: 1H21 Financial Summary
e Revenue Adjusted EBITDA 2) Reported EBITDA? @ Monash IVF Group $28 7M 1H n 1H21 Financial Summary Excellent operating performance in 1H21 was driven by robust recovery following the impact of COVID-19 , market share ‘Adhusted BITS) Adjusted NPAT!) 21) Reported NPAT gains and an underlying increase
Slide 5: Volume Recovery & Return to Growth
• Volume Recovery & Return to Growth • COVID-19 Recovery post New underlying Half Year shutdown shutdown growth growth • (-366 cycles) (+453 cycles) (+608 cycles) (+1,061 cycles) • (-188 cycles) (+35 cycles) (+9 cycles) (+44 cycles) • (-655 scans) (+2,702 scans) (+2,170 scans) (+4,872 scans) •
Slide 6: Stimulated Cycles
• Stimulated Cycles(1) • 4,933 • • 1H FY20 3,872 Up 27.4% • Volume • • Frozen Embryos(2) 3,309 • 1H FY20 2,836 Up 15.7% • •
Slide 7: Key Markets
Key Markets(2) Stimulated Cycles(1) quarterly growth Number of Australian Stimulated Cycles(1) half on half Q3FY19 Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 30% 24.6% 23.0% 20% 20,976 22,533 27,431 19,799 22,102 10% 6.5% 4.7% 2.4% 0% 18,999 19,976 18,690 20,110 -2.1% -0.7% 17,614 -10% -20% CY
Slide 8: Market Share
• Key Markets(1) Market Share Stimulated Cycles(2) 20.2% • o 1H20 19.6% Up 0.6% o Market o Share o Key Markets(1) Market Share Frozen Embryos(3) • 18.3% 1H20 18.8% • Down 0.5%
Slide 9: Financial Overview
Financial Overview e @ Monash IVF Group
Slide 10: MVF ARS Revenue
0.6 90 1.4 0.2 1.2 85 5.6 $M 80 90.8 5.2 75 77.0 70 1H20 Q1 MVF ARS Revenue Q2 MVF ARS Revenue International Acquisitions Ultrasound DSU & Other 1H21 Growth Growth • • • • • •
Slide 11: 1H21 Profit & Loss overview
1H21 Profit & Loss overview 32.0% increase in Adjusted NPAT”) as a result of a 17. growth in Q2 % increase in revenue driven by a strong recovery in QI and industry and mar Adjusted ($m) 1H21 Group revenue 90.8 Adjusted EBITDA 247 Adjusted EBIT?) 184 Adjusted NPAT?) 12.0 Reported ($m) Reported EBITD
Slide 12: 1H21 Earnings reconciliation
1H21 Earnings reconciliation The below provides a reconciliation of earnings adjusted for certain non-regular items $m EBITDA” EBIT 1H21 NPAT 1H20 NPAT Reported Statutory 28.7 224 147 82 New Sydney CBD IVF Premise commissioning costs og og 06 - Job Keeper Subsidy ) ) (35) - Acquisition Earn-out fair
Slide 13: 1H21 Cash flow overview
1H21 Cash flow overview Improved free cash flow generation which increased from $4.6m to $13.9m during 1H21 as compared to pcp $m 4H21 1H20. —-% change + Pre-tax conversion of EBITDA to operating cash flow was strong at 82.7% as compared to 78.1% in the pep; Reported EBITDA 28.7 18.2 57.7% Movement
Slide 14: Capital Management Overview
Capital Management Overview The Balance Sheet is well positioned to pursue organic and non-organic growth opportunities and navigate through any developments in the Pandemic both domestically and abroad Balance Sheet ($m) Cash and cash equivalents Other current assets Current lease liabilities Curre
Slide 15: Operational Overview
Operational Overview IN @ Monash IVF Group
Slide 16: Monash IVF Australia - Clinical pregnancy
• Monash IVF Australia - Clinical pregnancy (per embryo transferred) 36.4% 34.7% • 32.6% • 2018 2019 2020 • Monash IVF Australia - Clinical pregnancy (intention to transfer) • 33.4% 34.4% 31.8% • • 2018 2019 2020
Slide 17: ARS Australia Operational Performance
ARS Australia Operational Performance cosine: Operational execution of our Strategic Pillars are driving the Group's value proposition to its patients and key stakeholders during the challenging Pandemic environment * Two new experienced fertility specialists attracted during 1H21 with one based at
Slide 18: ARS Australia Operational Performance
ARS Australia Operational Performance cosine: Operational execution of our Strategic Pillars are driving the Group's value proposition to its patients and key stakeholders during the challenging Pandemic environment + We continue to develop, adapt and innovate our people-based processes to navigate
Slide 19: Diagnostics Performance
Diagnostics Performance Diagnostics business benefiting from strong demand for pregnancy related scans and other screening tests 1H21 ultrasound scan volumes increased by 11.7% to 43,946 compared to pep and Non-invasive Pre-natal Testing (NIPT) increased by 17.9% to 7,932; Ultrasound scan volumes in
Slide 20: ARS International Performance
ARS International Performance Recovery in Kuala Lumpur has beer je to ongoing impact of COVID-19 in Malay: International Expansion Kuala Lumpur stimulated cycles increased by 33 or 6.6% compared to pep despite a challenging environment. Revenue declined by $0.4m or 6.6% to $5.5m due to promotional a
Slide 21: Strategy & FY21 Outlook
Strategy & FY21 Outlook e @ Monash IVF Group
Slide 22: The most admired fertility solutions provider in the world
e@ Monash IVF Group The most admired fertility solutions provider in the world. Best in Class fertility solutions for all, diagnostics, genetics and pathology. 22 FY21 Half Year Results Presentation Our Pillars Digital Our Outcom: Local & International e Market Share s Creation Our Principles Commit
Slide 23: FY21 Strategy & Outlook
FY21 Strategy & Outlook FY21 Strategy The strong and swift recovery in industry volumes following the disruption to ARS services during the Pandemic demonstrates the resilience of the industry and the favourable underlying demographics. The desire for patients to seek assistance when trying to conce
Slide 24: FY21 Strategy & Outlook
FY21 Strategy & Outlook FY21 Outlook Subject to any further COVID-19 related disruption to continuity of services, the following FY 21 profit guidance is provided. The Company's reported NPAT for the year ending 30 June 2021 is expected to be approximately $23.7m to $257m, as compared to $11.8m in t
Slide 25: Appendices
Appendices e @ Monash IVF Group
Slide 26: Treatment Mix
Treatment Mix IVF Treatment numb: Monash IVF Group — Australia Stimulated cycles 4933 3,872 274% Cancelled cycles 480 362 32.6% Frozen embryo transfers 3,309 2,836 15.7% Total Australian Patient Treatments 8,722 7,070 23.4% Monash IVF Group - International Stimulated cycles 546 502 88% Cancelled cyc
Slide 27: Overview of Monash IVF Group
Overview of Monash IVF Group Monash IVF Group is amarket leader in fertility e @ Monash IVF Group 123 Medical Specialists 105! Scientists 345! Nursing & Support Staff ARS 27 clinics & 3 service centres 105 Fertility Specialists 7 Australian States/Territories 3 South East Asian cities Diagnostic 2 s
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