Slide 1: 1HFY22 Results Investor Presentation
T +61 3 5339 0704 E info@idxgroup.com.au Suite 9.02, Level 9, 45 William Street Melbourne Vic 3000 www.integraldiagnostics.com.au For personal use only 1HFY22 Results Investor Presentation 23 February 2022, Melbourne Integral Diagnostics Limited (ASX:IDX) attaches its 1HFY22 Results Investor Pre
Slide 2: 1HFY22 Results
For personal use only 1HFY22 RESULTS Dr. Ian Kadish (MD & CEO) Craig White (CFO) 23 February 2022 “Good Medicine is Good Business”
Slide 3: IDX Vision & Values
For personal use only IDX VISION & VALUES
Slide 4: Delivering on our values – 1HFY22
DELIVERING ON OUR VALUES – 1HFY22 Patients Medical Everyone Create Embrace First Leadership Counts Value Change For personal use only • Served 484,000 • 232 reporting • 1,595 employees • Operating NPAT • Managed patients radiologists declined by 21.7% to workflows, • Developed a $13.0m in a COVID- p
Slide 5: 1HFY22 Financial Highlights
1HFY22 FINANCIAL HIGHLIGHTS 5.7% growth in operating revenue despite COVID-19 impacting near term performance 48.7% 21.7% 7.1% 22.8% 5.7% 25.3% Net debt For personal use only decline in decline in decline in decline in increase decline /LTM statutory operating operating operating in in EBITDA NPAT N
Slide 6: DI Industry COVID-19 Impact: Australia
DI INDUSTRY COVID-19 IMPACT: AUSTRALIA Industry growth rates, on a 12 month rolling basis, came back strongly in CY21, however declined in the latter part of the year with the onset of the Omicron variant of COVID-19 For personal use only Source: Medicare Australia Statistics by Broad Type of Servic
Slide 7: Shareholder Returns
SHAREHOLDER RETURNS Strong track record of growing shareholder returns. Fully franked interim dividend of 4.0 cps declared with a 70% payout ratio, in line with historical levels 90 Operating EBITDA - million For personal use only 80 70 60 84.0 50 75.7 40 53.0 30 33.5 38.1 39.5 20 FY 17 FY 18 FY 19
Slide 8: 1HFY22 Financial Performance
For personal use only 1HFY22 FINANCIAL PERFORMANCE
Slide 9: Results for 1HFY22
RESULTS FOR 1HFY22 $ million 1HFY22 1HFY21 Change ($) Change (%) Operating revenue(1) 180.5 170.7 9.8 5.7% For personal use only Operating EBITDA(2) 39.5 42.5(4) (3.0) (7.1%) EBITDA operating margin 21.9% 24.9%(5) (3.0%) Operating EBITA 23.4 27.2(6) (3.8) (14.0%) Operating NPAT 13.0 16.6(7) (3.6) (2
Slide 10: Revenue
REVENUE Operating revenue up 5.7% to $180.5m Solid underlying growth in Australia, despite ongoing COVID-19 impacts, driven by new sites, investment in new equipment and additional contribution from acquisitions. IDX organic revenue For personal use only growth in Australia of 5.0% compares favourab
Slide 11: Operating Expenditure
OPERATING EXPENDITURE Operating costs increased by 2.9% ($5.3m) as a % of revenue(1), largely driven by increasing employee costs related to COVID-19. The Company is committed to For personal use only maintaining and supporting our excellent team of radiologists and related medical specialists and t
Slide 12: Capital Management
CAPITAL MANAGEMENT Strong balance sheet to support on-going growth strategy For personal use only • 1HFY22 net debt of $176.8m (1HFY21: $137.3m) $ million 31 Dec 21 30 Jun 21 31 Dec 20 Cash and cash equivalents 55.6 62.2 68.8 • 2.5x EBITDA prior to one off transactions as at 31 December 2021 (1HFY21
Slide 13: Cashflow and Cash Conversion
CASHFLOW AND CASH CONVERSION Solid free cash flow to fund and support growth initiatives For personal use only $ million 1HFY22 1HFY21 • Normalised free cash flow conversion of 62.8% (1HFY21 78.1%) – 73.4% excluding replacement Operating EBITDA 39.5 42.5 capex Non-cash items in EBITDA (0.4) 3.4 • Th
Slide 14: Capital Expenditure
CAPITAL EXPENDITURE Continuing capex investment in line with IDX’s growth strategy $ million(1) For personal use only 1HFY22 1HFY21 1HFY20 Replacement 4.2 6.7 5.3 Growth 10.4 3.6 11.2 Total 14.6 10.3 16.5 Depreciation 9.8 9.5 6.5 1HFY22 Replacement capex of $4.2m Replacement capex reflects capital s
Slide 15: Regulatory Update
For personal use only REGULATORY UPDATE
Slide 16: Regulatory Environment Activity
REGULATORY ENVIRONMENT ACTIVITY Australia: MRI Licences For personal use only • As at the date of this presentation no further licences or plans for deregulation of MRI licences have been announced. MRI licences and/or changes may occur in a Federal election year May 2021 Budget • Indexation across
Slide 17: Strategy Update
For personal use only STRATEGY UPDATE
Slide 18: Management's Strategy – Good Medicine is Still Good Business
MANAGEMENT’S STRATEGY – GOOD MEDICINE IS STILL GOOD BUSINESS Organic and inorganic growth strategy and focus remains the same despite COVID-19 impacting near term performance For personal use only 1 Grow existing business and margin 2 Strategic acquisitions Strategy Accelerate use of digital and AI
Slide 19: Questions?
For personal use only QUESTIONS?
Slide 20: Appendices
For personal use only APPENDICES
Slide 21: IDX Operates in Key Geographic Markets – December 2021
IDX OPERATES IN KEY GEOGRAPHIC MARKETS – DECEMBER 2021 Western Victoria Queensland New Zealand Australia For personal use only Total IDX Queensland Geographic Market Victoria Victoria & NSW Queensland Western Australia New Zealand & NSW Ballarat, Geelong, Albury, Wodonga, Sunshine Coast, Gold Coast,
Slide 22: Reconciliation of Operating to Statutory EBITDA
RECONCILIATION OF OPERATING TO STATUTORY EBITDA $ million 1HFY22 1HFY21 Change ($) Change (%) Operating NPAT 13.0 23.2 (10.2) (44.0%) For personal use only Non operating transactions net of tax Transaction and integration costs (0.7) (0.5) Share based payments (1.1) (1.0) Amortisation of customer co
Slide 23: Disclaimer
DISCLAIMER Some of the information contained in this presentation contains “forward-looking statements” which may not directly or exclusively relate to historical facts. These forward-looking statements reflect Integral Diagnostics Limited (IDX) current intentions, plans, expectations, assumptions a
Slide 24: For personal use only
For personal use only