Monash Ivf Group Ltd · ASX:MVF
Monash Ivf — Investor Presentation (August 2026)
36 slides from Monash Ivf's investor presentation, Aug 31, 2026
Slide 1: 2026 Results Briefing
2026 Results Briefing Investor Presentation August 2026
Slide 2: Disclaimer
Monash IVF Group | FY26 Results Presentation Page 2 Disclaimer The presentation has been prepared by Monash IVF Group Limited (ACN 169 302 309) (“MVF”) (including its subsidiaries, affiliates and associated companies) and provides general background information about MVF’s activities as at the date
Slide 3: Dr Victoria Atkinson, CEO & Managing Director
Monash IVF Group | FY26 Results Presentation Page 3 Dr Victoria Atkinson Chief Executive Officer & Managing Director
Slide 4: FY26: A Year of Two Halves
Monash IVF Group | FY26 Results Presentation Page 4 FY26: A Year of Two Halves • Resilient revenue $269.5m (-0.9%) FY26 exits with momentum after challenging 1 first half • • • Underlying EBITDA (1)(2) of $53.4m (-19.5%) Underlying NPAT (3) of $16.1m (41.2%) Final dividend declared of 1.3cps (full y
Slide 5: Agenda
Monash IVF Group | FY26 Results Presentation Page 5 Agenda 1. FY26 Highlights and CEO Priorities Update 2. FY26 Results 3. Market Update & Outlook 4. Nurture 2030: A New 3Y Strategy 5. FY27 Priorities & Trading Outlook 6. Q&A
Slide 6: 1. FY26 Highlights and CEO Priorities Update
Monash IVF Group | FY26 Results Presentation Page 6 1.FY26 Highlights and CEO Priorities Update
Slide 7: 5,753 Clinical Pregnancies
Monash IVF Group | FY26 Results Presentation Page 7 5,753 Clinical Pregnancies 42.1% YTD Clinical Pregnancy Rates For women under 43 years. (+1.8%) vs FY25. Women under 40 years 44.0% (+ 1.1%) vs FY25. Outperforming ANZARD benchmark #2 in Market Share > 3,000 episodes of Across the Australian stimul
Slide 8: Execution against 2HFY CEO priorities
Monash IVF Group | FY26 Results Presentation Page 88 Page Execution against 2HFY CEO priorities Deliver Sustainable 01 • Victorian Strategy Blueprint launched Organic Growth Foundational and transformational initiatives underway • Real-time performance dashboards deployed enterprise-wide Align Medic
Slide 9: 2. FY26 Results
Monash IVF Group | FY26 Results Presentation Page 9 2. FY26 Results
Slide 10: FY26 Overview
Monash IVF Group | FY26 Results Presentation Page10 Page 10 FY26 Overview FY26 Underlying FY26 Underlying 1H26 Domestic Stimulated 2H26 Domestic Stimulated FY26 Revenue EBITDA(2) EBITDA(2) Margin % Cycle Market Share(3) Cycle Market Share(3) $269.5m $53.4m 19.8% 19% 20.2% Down 0.9% vs FY25 Down 19.5
Slide 11: FY26 Operational Highlights
Monash IVF Group | FY26 Results Presentation Page11 Page 11 FY26 Operational Highlights • Stimulated cycle volumes grew with strong FETs Momentum regained • DSU strengthened labour management, productivity and procurement in 2H26 • Strong NIPT in H2, indicator of future pipeline • Strong market shar
Slide 12: Domestic IVF Overview
Monash IVF Group | FY26 Results Presentation Page12 Page 12 Domestic IVF Overview Positioned to accelerate • 20,010 IVF patient treatments in FY26, with domestic IVF cycles easing 5% to 19,181—predominantly concentrated in 1H26 • Stimulated cycles were 7% softer at 10,057, while Frozen Embryo Transf
Slide 13: FY26 Domestic Operational Overview
Monash IVF Group | FY26 Results Presentation Page 13 FY26 Domestic Operational Overview Business Units Ultrasound Genetics Volume Day Surgery Scans Embryos Screened Cases 82,905 21,079 7,980 Up 1% vs FY25 Down 0.94% vs FY25 Consistent with FY25 WA Ultrasound acquisition PGT-A, PGT-M and PGT-SR all D
Slide 14: FY26 International Overview
Monash IVF Group | FY26 Results Presentation Page14 Page 14 FY26 International Overview Strategic business model reset delivers record performance across Asia FY26 International FY26 Patient FY26 International FY26 International FY26 EBITDA Stimulated Cycles Treatments Revenue EBITDA Margin 1,366 2,
Slide 15: FY26 Financial Results
Monash IVF Group | FY26 Results Presentation Page 15 FY26 Financial Results
Slide 16: FY26 Profit & Loss Summary
Monash IVF Group | FY26 Results Presentation Page 16 FY26 Profit & Loss Summary Revenues proved resilient and margin primed for improvement Underlying ($m) • FY26 Underlying NPAT (1)(2)(3) of $16.1m, below the June 2026 updated FY26 FY25 % change guidance and includes the impact of the write-off of
Slide 17: FY26 Revenue Analysis
Monash IVF Group | FY26 Results Presentation Page17 Page 17 FY26 Revenue Analysis 280 4.6 270 (9.6) 2.7 0.7 (0.9) 260 $M 271.9 269.5 250 240 FY25 Market share, Pricing and Industry International Ultrasound DSU Genetics & Other FY26 • FY26 Domestic IVF revenue decline of $9.6m driven by: • H1 Market
Slide 18: FY26 EBITDA Analysis
Monash IVF Group | FY26 Results Presentation Page18 Page 18 FY26 EBITDA(1) Analysis EBITDA (1) decline reflects concentrated, identifiable and largely non-structural margin pressure 70 (3.6) 0.9 (7.8) 60 (0.8) 0.6 0.4 (1.6) (9.9) 50 $M 65.4 66.3 40 55.5 53.4 43.5 30 20 FY25 Reported Non-regular FY25
Slide 19: FY26 Capital Position
Monash IVF Group | FY26 Results Presentation Page19 Page 19 FY26 Capital Position Cashflow FY26 FY25 % change Net Debt Movement — FY26 ($m) Net operating cash flow 36.7 12.9 185% Net operating cash flow 85.0% 84.9% conversion % (4) Free cash flow (1) 12.9 (4.5) (387%) Net Debt FY26 FY25 Total Debt (
Slide 20: 3. Market Update and Outlook
Monash IVF Group | FY26 Results Presentation Page 20 3. Market Update and Outlook
Slide 21: ARS Sector Volumes softened in FY26
Monash IVF Group | FY26 Results Presentation Page21 Page 21 ARS Sector Volumes softened in FY26 Australian ARS industry stimulated cycles decreased by 0.2% Australian Stimulated Cycles(1) bi-annual growth vs pcp Number of Australian Stimulated Cycles(1) half on half 1H22 2H22 1H23 2H23 1H24 2H24 1H2
Slide 22: Structural IVF demand remains compelling
Monash IVF Group | FY26 Results Presentation Page22 Page 22 Structural IVF demand remains compelling Fertility patients pause rather than defer treatment STIM cycles vs. Unemployment Rate and Interest Rate • IVF demand is influenced by consumer confidence and household affordability rather than any
Slide 23: Demographic tailwinds support long-term demand
Monash IVF Group | FY26 Results Presentation Page23 Page 23 Demographic tailwinds support long-term demand Infertility prevalence projected to sustain demand, according to latest analysis from The Lancet Obstetrics & Gynaecology July 2026 • Female infertility prevalence has increased steadily over t
Slide 24: Regulatory reform in sector welcomed by MVF
Monash IVF Group | FY26 Results Presentation Page24 Page 24 Regulatory reform in sector welcomed by MVF MVF is engaged with governments and regulators, and contributing to industry reform Monash IVF welcomes the regulatory reforms announced by Health Ministers MVF well placed for reform: and current
Slide 25: 4. Nurture 2030: A New 3Y Strategy
Monash IVF Group | FY26 Results Presentation Page 25 4. Nurture 2030: A New 3Y Strategy
Slide 26: The new strategy builds on foundations set in our previous plan
Monash IVF Group | FY26 Results Presentation Page26 Page 26 The new strategy builds on foundations set in our previous plan The investments made through the Vision 2026 Strategy provided the launchpad for Nurture 2030, including: • Strategic investment in international growth • Investment in integra
Slide 27: Nurturing possibility for every reproductive health journey
Monash IVF Group | FY26 Results Presentation Page27 Page 27 Purpose Nurturing possibility for every reproductive health journey Strategic Pillars Connected Clinical Industry- Science, Sustainable Patient Excellence Leading Research and Growth and Ecosystem and Safety Talent Technology Performance En
Slide 28: 5. FY27 Plan and Priorities
Monash IVF Group | FY26 Results Presentation Page 28 5. FY27 Plan and Priorities
Slide 29: FY27 Priorities & Trading Outlook
Monash IVF Group | FY26 Results Presentation Page29 Page 29 FY27 Priorities & Trading Outlook A series of operational focal points in the context of a positive trading outlook Reignite organic growth Connect the patient journey Trading Outlook • Strengthen market share, patient • Embed data, digital
Slide 30: 6. Q&A
Monash IVF Group | FY26 Results Presentation Page 30 6. Q&A "It is nice to know that there’s hundreds and thousands of babies around the world related to something that I helped to create.” — Professor Carl Wood, IVF pioneer, Founder Monash IVF. Australian Story, ABC, 2001
Slide 31: Appendix
Monash IVF Group | FY26 Results Presentation Page 31 Appendix
Slide 32: FY26 Cashflow
Monash IVF Group | FY26 Results Presentation Page32 Page 32 FY26 Cashflow Cashflow ($m) FY26 FY25 % change • Working capital year on year improved Reported EBITDA(1) 43.5 65.4 (33.5%) Movement in working capital (4.8) (49.6) (90.3%) • FY26 outflow of $4.8m driven by timing of GST and higher inventor
Slide 33: 30 June 2026 Balance Sheet
Monash IVF Group | FY26 Results Presentation Page33 Page 33 30 June 2026 Balance Sheet Balance Sheet ($m) 30 Jun 2026 30 Jun 2025 % Change Cash and cash equivalents 8.8 9.4 (6.2%) • Net Debt increased to $101.2m; capital projects and working capital Other current assets 35.3 32.3 9.4% Current lease
Slide 34: FY26 Earnings Reconciliation
Monash IVF Group | FY26 Results Presentation Page34 Page 34 FY26 Earnings Reconciliation Statutory earnings adjusted for non-regular items to derive Underlying Results $m EBITDA(1) EBIT Non-cash FY26 NPAT FY25 NPAT Interest Reported Statutory 43.5 20.2 - 8.3 25.7 Commissioning costs 1.6 1.6 - 1.1 0.
Slide 35: Overview of Monash IVF Group
Monash IVF Group | FY26 Results Presentation Page 35 Overview of Monash IVF Group Monash IVF Group is a market leader in reproductive care Domestic IVF International IVF Ultrasound Genetics & Pathology 24 clinics & 4 services centres 4 clinics 18 clinics 1 Genetics Laboratory (SA) 7 Australian State
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