Monash Ivf Group Ltd · ASX:MVF
Monash Ivf — FY2021 Earnings Presentation
28 slides from Monash Ivf's earnings presentation, Aug 24, 2021
Slide 1: FY21 Results Presentation
FY21 Results Presentation INS SES IVF Group Leading the future of reproduc
Slide 2: Disclaimer
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 of this presentation. The information does not purpo
Slide 3: Key highlights FY2021
SUlts Presentation Key highlights FY2021 $23.3m Adjusted NPAT, an increase of 61.5% and ahead of profit guidance Reported NPAT” of $25.5m, an increase of 116.9% Adjusted NPAT?) of $23.3m, an increase of 615% and ahead of profit guidance range, ($21m to $23m) 26.3% Revenue growth as result of 36.6% s
Slide 4: Attractive industry fundamentals
Attractive industry fundamentals as behavioural shifts supports volume growth in FY2021 and beyond Advanced maternal age Advanced maternal age following delays in starting a family © Delaysin starting families at increased maternal age continues to drive higher infertility rates © MVF average matern
Slide 5: Industry Volumes - ARS Australia
Industry Volumes - ARS Australia FY21 demand for ARS services in Australia at record levels Key Markets) Stimulated Cycles quarterly growth Number of Australian Stimulated Cycles” half on half QIFY20 Q2FY20 G3FY20.« G4FY20.«GIFY21 «= Q2FY2I. © GSFY2I—GAFY2I 80% 63.5% 60% 40% 246% 930% 255% o | a | a
Slide 6: MVF Recovery and Return to Growth
MVF Recovery and Return to Growth IVF volume growth rate accelerated thro it the year * FY21 began with pent up demand/deferred for IVF d d f Business Line Mar20-Jun20 QUFY21 Q2FY21 Q3 FY21 Q4FY21 treatment for services, deemed oritical, 4-months 3-months 3-months 3-months 3-months recovering in QI
Slide 7: MVF Market Share - ARS Australia
MVE Market Share - ARS Australia Market share gains in majority of state-based markets Market Share Stimulated Cycles" 9,808 FY20 7,181 |Up 36.6% Key Markets!) Market Share Stimulated Cycles?) 21.0% FY20 204% | Up 0.6% Frozen Embryos”) 6,769 FY20 6,294|Up 279% Key Markets’ Market Share Frozen Embryo
Slide 8: Financial Results
Financial Results
Slide 9: FY21 Revenue Analysis
FY21 Revenue Analysis Revenue growth underpinned by market share gains and industry volumes 180 160 140 180 100 mFY20 = FY21 og 18 la 1836 908 1454 Fy20 ARSlindustry MVF ARS Market MVFARSPricing International Acquisitions Utrasound DSU& Other Fy21 1H Growth Share Growth impact Strong revenue growth
Slide 10: FY21 Profit & Loss overview
FY21 Profit & Loss overview Ahead of profit guidance driven by stronger revenue growth and margin improvem Adjusted ($m) FY21 FY20 %change e — Reported NPAT®) of $25.5m, an increase of 116.9% j (1203) i @exprcnu 1836 1454 263% . gon, NPAT of $23.3m ahead of guidance range, $21.0m to Adjusted EBITDA2
Slide 11: FY21 Cash flow overview
FY21 Cash flow overview Strong operating cash flow generation * Free cash flow” of $32.8m an increase of 60% or $12.3m Reported EBITDA 613 328 564% * Cash conversion remained strong at 100% as compared to 107.9% in the pop; Movementin working capital - 26 (100.0%) + $11.3m Investment expenditure” fo
Slide 12: Capital Management Overview
Capital Management Overview Positioned for organic and n rganic growth opportunities Balance Sheet ($m) 30 Jun 21 80 June 20 % change * Balance Sheet is in a strong position to support organic and non- Cash and cash equivalents 88 151 (41.7%) organic growth; Other current assets 137 156 (12.2%) Curr
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Slide 14: Domestic ARS operations Update
Domestic ARS operations Update Clinical pregnancy rates continue to improve Clinical pregnancy rates continue to improve across the Group with pregnancy rates 4.5% higher than CY2018 Initiatives to drive future improvements include: °) Publication of the first PIEZO clinical trial (a gentler form of
Slide 15: Domestic ARS operations Update
Domestic ARS operations Update Highly engaged Medical Specialists across Fertility and Ultrasound * Partnership and relationships with Monash IVF fertility specialists and Women's Ultrasound sonologists have never been stronger with recent engagement soores at record levels demonstrating a “culture
Slide 16: Domestic ARS operations Update
Domestic ARS operations Update Investment in infrastructure adding capacity and market presence * — New clinical infrastructure is paramount to execution of our strategic growth objectives; * New Sydney CBD flagship clinic opened in November representing best practice patient experience with four Fe
Slide 17: Domestic ARS operations Update
Domestic ARS operations Update Key stakeholders engaged and supported by significant marketing investments Positive Engagement scores in key stakeholder groups driving activity anda “culture of success” * Record Group engagement score in 2021, with an increase of 4% points compared to FY20 and excee
Slide 18: Diagnostic Ultrasound Performance
Diagnostic Ultrasound Performance Growth driven by obstetrics growth and shift to privately owned clinics FY2021 ultrasound volumes increased by 12.9% to 92,776 compared to pop and Non-invasive Pre-natal testing (NIPT) increased by 17.8% to 15,877, ¢ Ultrasound scan volume growth experienced in all
Slide 19: Long-term strategic growth initiatives in SEA
• • • Long-term strategic growth initiatives in SEA • The Johor Bahru, Malaysia fertility business acquired in June 2020 continues to be restricted by the closed border between Singapore and Johor Bahru. The Clinic remains a strategic growth asset providing a presence in east Malaysia and Singapore;
Slide 20: Strategy and Outlook
Strategy and Outlook e IN @ Monash IVF Group
Slide 21: Our Mission Our Pillars
Our Mission Our Pillars We help bring ' « = : + life to the world ‘ ais tA Doctor Patient. Scientific People Partnerships Experience Leadership Engagement © @ ® @ International 4 Brand & Clnical ge” Our Outcomes Vision 2026 a + aq ms p> c ‘4 The most admired: reproductive care.” aabreos Siateo = Gee
Slide 22: Strategy & Outlook
Strategy & Outlook We believe there is a fundamental shift in the Community whereby the + — Sustainable marketing investment that is expected to continue to on-going Pandemic has changed the mindset of our patient cohort with grow the new patient pipeline; greater focus on family, health and wellbei
Slide 23: Q&A
O&A e IN @ Monash IVF Group
Slide 24: Appendices
Appendices e @ Monash IVF Group
Slide 25: Treatment Mix
Treatment Mix IVF Treatment numbers % change Monash IVF Group - Australia Stimulated cycles 9,808 7181 36.6% Cancelled cycles 1,023 674 51.8% Frozen embryo transfers 6769 5,294 279% Total Australian Patient Treatments 17600 18149 33.8% Monash IVF Group - International Stimulated cycles 1,037 829 251
Slide 26: FY21 Earnings reconciliation
FY21 Earnings reconciliation Statutory earnings adjusted for certain non-regular items $m EBITDA” EBIT FY21 NPAT Reported Statutory S13 384 25.5 Job Keeper Subsidy (61) (61) (3.5) Acquisition Earn-out fair value O7 O7 O7 New Sydney CBD IVF clinic commissioning costs 08 08 O06 Adjusted All 34.8 23.3
Slide 27: Overview of ARS clinics & services centres
Overview of Monash IVF Group ARS 27 clinics & 3 services centres 105 Fertility Specialists 7 Australian States / Territories 3 South East Asian cities e ™ MonashIVF repremed Ys a Ox. KL Fertiuity CENTRE Son effindetle ealpe Diagnostics 2 specialised laboratories (VIC and SA) 3 day hospitals (SA, NSW
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