Monash Ivf Group Ltd · ASX:MVF
Monash Ivf — H1 2025 Earnings Presentation
30 slides from Monash Ivf's earnings presentation, Feb 27, 2025
Slide 1: Inspiring today and tomorrow: 1H25 Results Presentation
Inspiring today and tomorrow 1H25 Results Presentation 27 February 2025
Slide 2: Disclaimer
Monash IVF Group | 1H25 Results 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 of this prese
Slide 3: 1H25 Financial Highlights
Monash IVF Group | 1H25 Results Page 3 1H25 Financial Highlights Monash IVF reported double digit revenue and EBITDA growth, and Underlying NPAT is line with guidance provided at the 2024 AGM • 11.6% growth in Revenue to $140.3m • 10.7% growth in Underlying EBITDA(1)(2) to $35.6m • 7.3% growth in Un
Slide 4: 1H25 Operational Highlights
Monash IVF Group | 1H25 Results Page 4 1H25 Operational Highlights All of Monash IVF’s businesses (Domestic ARS, Ultrasound and International) delivered solid revenue and earnings growth in 1H25 Australia International • Monash IVF Australian Stimulated Cycles(1) increased by 0.5% compared to pcp •
Slide 5: Traditional and new demand drivers to support long-term industry growth
Monash IVF Group | 1H25 Results Page 5 Traditional and new demand drivers to support long-term industry growth Attractive industry fundamentals remain compelling despite current short-term market volatility • 1H25 Australian IVF industry Stimulated Cycles(1) 21% above pre-COVID levels (1H20), reflec
Slide 6: Industry Volumes – ARS Australia
Monash IVF Group | 1H25 Results Page 6 Industry Volumes – ARS Australia Following strong growth in Australian Industry Stimulated Cycles(1) in CY2023 of 5.2%, industry activity moderated by 1.3% in CY2024 compared to pcp Australian Stimulated Cycles(1) bi-annual growth vs pcp Number of Australian St
Slide 7: MVF Market Share – ARS Australia
Monash IVF Group | 1H25 Results Page 7 MVF Market Share – ARS Australia MVF grew Stimulated Cycles(1) and Frozen Embryo Transfer (FET)(2) market share in 1H25 compared to pcp Stimulated Cycles 1H25 Volumes 1H25 Market Share • MVF Stimulated Cycles(1) increased by 0.5% in 1H25 compared to pcp • MVF S
Slide 8: Financial Results
Monash IVF Group | 1H25 Results Page 8 Financial Results
Slide 9: 1H25 Revenue Analysis
Monash IVF Group | 1H25 Results Page 9 1H25 Revenue Analysis 11.5% or $14.6m revenue growth driven by growth across all business services in Australia and International, primarily through domestic IVF acquisition, price growth, continued growth in diversified revenue streams (day hospitals and genet
Slide 10: 1H25 EBITDA Analysis
Monash IVF Group | 1H25 Results Page 10 1H25 EBITDA(1) Analysis Domestic IVF, International IVF and Ultrasound deliver EBITDA(1) growth. Domestic IVF Industry weakness offset by variable operational cost base alignment and contribution from Fertility North acquisition 40 3.2 0.3 0.4 35 0.8 0.2 1.4 1
Slide 11: 1H25 Profit & Loss Overview
Monash IVF Group | 1H25 Results Page 11 1H25 Profit & Loss Overview • 1H25 Underlying NPAT (1)(2)(3) increased by 5.5% to $15.8m and inline with November 2024 guidance provided; • Underlying EBITDA(1)(2) increased by 10.7% to $35.6m, predominantly due to: o Domestic IVF Growth 1.5% contribution o Ac
Slide 12: 1H25 Cashflow Overview
Monash IVF Group | 1H25 Results Page 12 1H25 Cashflow Overview • Movement in Working Capital includes NiPGT Class Action instalment payments $m 1H25 1H24 % change and non-cash Profit & Loss benefit from the settlement of proceedings against the Company’s NiPGT Class Action insurer (~$26m impact). Re
Slide 13: Balance Sheet Overview
Monash IVF Group | 1H25 Results Page 13 Balance Sheet Overview Balance Sheet ($m) 31 Dec 2024 30 Jun 2024 % change • Net leverage ratio is 1.3x as at 31 December 2024 after $20m of Class Action payments during 1H25. NLR anticipated to be well below 2.0x as Cash and cash equivalents 7.5 11.3 (33.8%)
Slide 14: Sustainable efficiency program to drive margin expansion
Monash IVF Group | 1H25 Results Page 14 Sustainable efficiency program to drive margin expansion With our infrastructure transformation nearing completion, and the new IVF patient management system an important driver, Monash IVF is ideally positioned to realise sustainable efficiencies across the G
Slide 15: Operational Overview
Monash IVF Group | 1H25 Results Page 15 Operational Overview
Slide 16: Flexible and innovative doctor value proposition continues to attract new doctors
Monash IVF Group | 1H25 Results Page 16 Flexible and innovative doctor value proposition Doctor Partnerships continues to attract new doctors Continually strengthening and evolving our Doctor Value Proposition to ensure Monash IVF Group 44% increase in net Fertility Specialists since FY20 Dr Arpita
Slide 17: Leading science and technology driving pregnancy rates to >40%
Monash IVF Group | 1H25 Results Page 17 Leading science and technology driving Scientific Leadership pregnancy rates to >40% Examples of current investments in innovative technology to drive 40.2% Clinical pregnancy rate per embryo transferred (women aged <43 success rates and improve patient outcom
Slide 18: Clinic Infrastructure
Monash IVF Group | 1H25 Results Page 18 Clinic Infrastructure Clinical Infrastructure Our infrastructure transformation is almost complete, with Sydney CBD, NSW Gold Coast, QLD the last new flagship site, Brisbane, to be completed later this calendar year. Our flagship facilities will be instrumenta
Slide 19: Day Surgery utilization increasing
Monash IVF Group | 1H25 Results Page 19 Day Surgery utilization increasing Increasing theatre utilisation, new specialties and greater co-ordination between day surgeries will drive increasing returns • 1H25 day surgery revenue up $2.8m and EBITDA up $0.3m • Theatre utilisation increased across all
Slide 20: Investing in Brand & Marketing and our People
Monash IVF Group | 1H25 Results Page 20 Investing in Brand & Marketing and our People Marketing strategy is driving market share gains, and targeted campaigns are driving growth in emerging patient segments • Our egg and sperm donor supply is increasing YOY in response to refreshed campaigns and new
Slide 21: Women's ultrasound business continued to consolidate with earnings growth
Monash IVF Group | 1H25 Results Page 21 Our Women's ultrasound business continued to consolidate with earnings growth on the back of solid growth in the previous 2 years • 1H25 growth in scans of 0.9% on pcp • Strong scan volume growth in Melbourne partially offset by decrease in scan volumes in Syd
Slide 22: ARS International
Monash IVF Group | 1H25 Results Page 22 ARS International New Singapore clinic 1H25 Stimulated Cycles growth of 8.1% driven by KL Fertility, Singapore and Bali • 1H24 International Segment Underlying EBIT(1) increased by 74.1% • KL Fertility delivered strong volume growth of 12.3% which flowed throu
Slide 23: Strategy and Outlook
Monash IVF Group | 1H25 Results Page 23 Strategy and Outlook
Slide 24: Vision 2026: The most admired reproductive care provider in the world
Monash IVF Group | 1H25 Results Results Page 24 Vision 2026 The most admired reproductive care provider in the world Best in class fertility solutions, diagnostics, genetics and pathology.
Slide 25: Outlook
Monash IVF Group | 1H25 Results Page 25 Outlook The Australian Assisted Reproductive Technology sector (ART) and Monash IVF will continue to benefit from evolving underlying structural demand drivers, particularly from emerging services such as genetics, donor and egg freezing. Advanced maternal age
Slide 26: Appendices
Monash IVF Group | 1H25 Results Page 26 Appendices
Slide 27: 1H25 Earnings Reconciliation
Monash IVF Group | 1H25 Results Page 27 1H25 Earnings Reconciliation Statutory earnings adjusted for certain non-regular items $m EBITDA(1) EBIT Non-cash 1HFY25 NPAT 1HFY24 NPAT Interest Reported Statutory 38.8 27.8 - 17.3 12.9 Acquisition transaction costs - - - - 0.4 Commissioning costs 0.3 0.3 -
Slide 28: Treatment Mix
Monash IVF Group | 1H25 Results Page 28 Treatment Mix IVF Treatment numbers 1H25 1H24 % change Monash IVF Group – Australia Stimulated cycles (1) 5,850 5,823 0.5% Cancelled cycles 562 571 -1.6% Frozen embryo transfers 4,815 4,327 +11.3% Total Australian Patient Treatments 11,227 10,721 +4.7% Monash
Slide 29: Overview of Monash IVF Group
Monash IVF Group | 1H25 Results Page 29 Overview of Monash IVF Group
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