Primary Health Care Limited

Primary Health Care — H1 2004 Earnings Presentation

10 slides from Primary Health Care's earnings presentation, Feb 24, 2004

  1. Slide 1: Primary Health Care Ltd. Half Yearly Results 1H04

    Primary Health Care Ltd. Half Yearly Results 1H04 24th February 2004

  2. Slide 2: Financial Results 1H04 - Half Yearly Financial Highlights

    Financial Results 1H04 „ Half Yearly Financial Highlights EBITDA margin (excl. property sales) from 31% to 34% Profit before tax (excluding property) ^ 42% ($ million, EPS in cps) 1H04 growth 1H03 growth 1H02 Sales revenue Excl. property sales 72.0 20% 59.9 23% 48.7 EBITDA (excl. property) 24.4 30%

  3. Slide 3: Financial Results 1H04

    Financial Results 1H04 ($ 000s) 1H04 1H03 1H02 „ Segmental Medical Centres 21,628 16,972 12,126 Reporting Pathology 5,463 4,293 3,831 Head Office -2,736 -2,468 -1,884 Sale of Properties 0 2,597 0 EBITDA 24,355 21,394 14,073 Depreciation 5,099 4,230 2,890 EBITA 19,256 17,164 11,183 Amortisation 5,201

  4. Slide 4: Operations - Medical Centres

    Operations - Medical Centres „ Patient demand for services strong GP patient attendances up 31% to 1.3m for the half Revenue to PRY up 29% to $45.1m for the half „ Improvement in Operating Performance EBITDA up 30% to $18.9m Operating margin improvement despite movement of rental expenses above the

  5. Slide 5: Medical Centres - Centre performance by maturity profile

    Operations - Medical Centres „ Centre performance by maturity profile # of GP attendances ('000s) EBITDA per GP attendance 1H04 1H03 1H02 1H04 1H03 1H02 1 to 8 (>3.5yrs old) 579 549 536 $ 17.90 $ 18.26 $ 17.45 9 to 16 (1.5<yrs<3) 399 361 209 $ 15.37 $ 14.04 $ 8.55 17 to 21 (<1.5yrs) 336 93 0 $ 13.74

  6. Slide 6: Operations - Pathology Results

    Operations - Pathology „ Results Increased market share and improved margins Patient numbers up ~ 11% ($ 000s) 1H04 growth 1H03 growth 1H02 Revenue 30,172 10.2% 27,370 6.2% 25,765 EBITDA 5,463 27.3% 4,293 12.1% 3,831 Margin 18.1% 15.7% 14.9% EBITA 4,694 29.9% 3,613 13.3% 3,188 Margin 15.6% 13.2% 12.

  7. Slide 7: Operations - Pathology Outlook

    Operations - Pathology „ Outlook Revenue and Cash Expenses EBITDA growth showing 35,000 leverage 30,000 economies 25,000 20,000 EBITDA 15,000 Expenses 10,000 5,000 0 1H02 1H03 1H04

  8. Slide 8: Operations - Pathology Outlook

    Operations - Pathology „ Outlook Revenue and EBITDA - expect growth to continue, but rate of growth to abate Medicare price increase ~ 3% to impact in 2H04 Continued daily focus on „ Service improvements – range and quality of testing „ Systemic quality „ Margin improvements to pathology peers „ Inc

  9. Slide 9: Future Growth

    Future Growth „ New Medical Centres Expansion set to continue into southern states No new centres opened during 1H04 „ Current Medical Centres „ Pathology

  10. Slide 10: Major Opportunity

    Major Opportunity „ Competition „ Momentum „ General Environment „ Management / Capacity „ Capital

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