Sonic Healthcare Limited · ASX:SHL

Sonic Healthcare — FY2025 Earnings Presentation

22 slides from Sonic Healthcare's earnings presentation, Aug 21, 2025

  1. Slide 1: CEO Presentation – Full Year Results to 30 June 2025

    21 August 2025 The Manager – Listings Australian Securities Exchange Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000 Via electronic lodgement Dear Sir / Madam CEO PRESENTATION – FULL YEAR RESULTS TO 30 JUNE 2025 At 10:00am AEST today, Dr Colin Goldschmidt, Chief Executive Officer, will host

  2. Slide 2: Financial and Operational Review

    Financial and Operational Review Year ended 30 June 2025 Dr Colin Goldschmidt CEO, Sonic Healthcare 21 August 2025

  3. Slide 3: Forward-looking Statements

    Forward-looking Statements This presentation may include forward-looking statements about our financial results, guidance and business prospects that may involve risks and uncertainties, many of which are outside the control of Sonic Healthcare. Readers are cautioned not to place undue reliance on f

  4. Slide 4: Headlines

    Headlines A$M FY 2025 FY 2024* Change (Statutory) Revenue 9,645 8,967 8% EBITDA 1,725 1,602 8% Net profit 514 479 7% Cash generated from operations 1,297 1,072 21% Earnings per share (A$ cents) 106.7 100.4 6%  EBITDA earnings guidance achieved  EBITDA of A$1,702 million (constant currency)  EBITD

  5. Slide 5: FY 2026 Guidance

    FY 2026 Guidance  Guidance  EBITDA A$1.87 – 1.95 billion (constant currency), equates to ~A$1.94 – 2.02 billion using current exchange rates  Guidance reflects up to ~13% EBITDA growth on FY 2025 (constant currency), equates to ~17% using current exchange rates  Depreciation expense (including o

  6. Slide 6: Dividends

    Dividends Annual Dividend History A$ FY 2025 FY 2024 Growth $1.10 Interim Dividend $0.44 $0.43 2% $1.00 $0.90 Final Dividend $0.63 $0.63 0% $0.80 Total Dividends $1.07 $1.06 1% $0.70 $0.60 A$ $0.50 $0.40  Final dividend franked to 35% $0.30  Record Date 4 September 2025 $0.20  Payment Date 18 Sep

  7. Slide 7: Capital Management

    Capital Management 30 June 30 June Debt Cover History 2025 2024 3.5 Net interest-bearing debt A$M 2,818 2,349 3.0 Equity A$M 8,473 8,075 2.5 Debt cover X 2.1 1.9 2.0 Ratio (X) Gearing ratio % 24.7 22.3 1.5 Pre-pandemic average Interest cover X 10.1 12.0 1.0 0.5  Debt and equity movements impacted b

  8. Slide 8: FY 2025 Revenue Split

    FY 2025 Revenue Split SCS/Other A$465M 5% NZ A$30M Radiology A$970M 10% USA Belgium A$2,110M A$152M 22% 2% UK A$796M Total Revenue A$9,645 million (including A$22 8% million interest) SCS / Other = Sonic Clinical Services (IPN Australia Medical Centres, Sonic HealthPlus, other clinical Switzerland s

  9. Slide 9: USA

    USA  Revenue  Growth (2)% (statutory) – impacted by sale of West Division in H2 FY 2024  Organic growth (1)% (constant currency)  Organic growth impacted by loss of payor contract in Alabama and Change Healthcare cyber disruption  Organic growth stronger in clinical pathology than anatomic path

  10. Slide 10: Australian Pathology

    Australian Pathology  Organic revenue growth 6%  Operations  Earnings enhanced by revenue growth and tight cost management  Strong ongoing growth in genetic and other specialised testing  Increasing use of private billing for selected tests  Labour costs remain tightly managed in volume growth

  11. Slide 11: Germany

    Germany  Revenue  Growth 10% (statutory)  Organic growth 4% (constant currency)  Organic growth in H2 impacted by change to minimum KV quota for statutory insurance fee (EBM) schedule, effective 1 January 2025, ~1% annual impact  Specific EBM fee changes, effective 1 January 2025, net neutral f

  12. Slide 12: Switzerland

    Switzerland  Revenue  Growth 21% (statutory)  Organic growth 4% (constant currency)  Operations  Re-branding of all four previously separate Swiss entities into “Sonic Suisse” completed  Strong national management team comprised of senior executives of all four entities  Concentrated focus on

  13. Slide 13: UK

    UK  Revenue  Growth 19% (statutory)  Organic growth 14% (constant currency)  Operations  Hertfordshire and West Essex (HWE) NHS outsource contract commenced 1 March 2025  Fitout of hub lab in Watford to service HWE and create capacity for growth, on track to go live June 2026  Successful comm

  14. Slide 14: Belgium

    Belgium  Revenue  Growth 3% (statutory)  Organic growth 2% (constant currency)  FY 2025 growth impacted by fee cut (net 9%) from 1 January 2024  Ongoing organic growth augmented by +3% indexation of national fee schedule, effective Belgium 1 January 2025 A$152M 2%  Stable operations Sonic Heal

  15. Slide 15: Radiology

    Radiology  Revenue and earnings  Organic revenue growth 10%  EBITDA growth 12%  Operations Radiology A$970M  Ongoing robust growth in higher value modalities 10%  Annual Medicare fee indexation of 2.4% from 1 July 2025  Seven greenfield sites opened in FY 2025 and four planned for FY 2026  C

  16. Slide 16: Sonic Clinical Services (SCS)

    Sonic Clinical Services (SCS) SCS/Other  Revenue growth 2%  Operations A$465M 5%  Primary care market conditions improving with increasing Medicare funding  Stronger performance of occupational health division (Sonic HealthPlus), including Australian Defence Force pre-recruitment contract  Expe

  17. Slide 17: Sustainability

    Sustainability  FY 2025 Sustainability Report to be published November 2025  Major focus areas  Ongoing emissions reduction initiatives  Preparing for mandatory climate reporting for FY 2026 (Australia and USA), including assurance readiness  External sustainability ratings Prime (B-) Leader (A

  18. Slide 18: Outlook

    Outlook  Company well positioned for the future, with significant competitive advantages  Market leading brands and positions  Stable, experienced management globally  Investment grade credit metrics  Medical Leadership culture providing market differentiation  Expecting strong EPS growth in F

  19. Slide 19: Thank you

    Sy SONIC SY HEALTHCARE Thank you

  20. Slide 20: Appendix

    Sy SONIC SY HEALTHCARE Appendix

  21. Slide 21: Normalised EBITDA Margins

    Normalised EBITDA Margins Normalisation H1 H2 Full Year A$M FY 2025 Reported EBITDA margins 17.7% 18.0% 17.9% Acquisition and restructuring costs 0.1% 0.4% 0.2% 22* German KV quota change - 0.3% 0.2% 13 Queensland cyclone - 0.1% 0.1% 6* FY 2025 Normalised EBITDA margins 17.8% 18.8% 18.4% 41 FY 2024

  22. Slide 22: Acquisition of LADR Laboratory Group

    Germany Acquisition of LADR Laboratory Group  Major growth milestone for Sonic´s 20-year presence in Germany, integrating one of the other “Top 5” national groups into Sonic Healthcare Germany  CY 2024 annual revenue ~€370 million, EBITDA ~€50 million  Enterprise value €423 million funded in part

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