Australian Clinical Labs Ltd · ASX:ACL
Australian Clinical Labs — FY2026 Earnings Presentation
28 slides from Australian Clinical Labs's earnings presentation, Aug 17, 2026
Slide 1: ACL FY26 Financial Results
ASX Announcement Australian Clinical Labs Limited ABN 94 645 711 128 Registered Office: 1868-1892 Dandenong Road Clayton VIC 3168 Australia clinicallabs.com.au Monday, 17 August 2026 ACL FY26 FINANCIAL RESULTS The following announcements to the market are attached: Appendix 4E FY26 financial stateme
Slide 2: FY26 Financial Result
ASX Announcement Australian Clinical Labs Limited ABN 94 645 711 128 Registered Office: 1868-1892 Dandenong Road Clayton VIC 3168 Australia clinicallabs.com.au Monday, 17 August 2026 FY26 FINANCIAL RESULT STRATEGY DELIVERING STRUCTURAL MARGIN IMPROVEMENTS Australian Clinical Labs Limited (ASX: ACL)
Slide 3: CEO and Incoming CEO comments
Chief Executive Officer and Executive Director, Melinda McGrath, said: “I am proud of the result ACL has delivered this year, particularly given the challenging market conditions facing the pathology sector. Amid subdued GP attendance volumes, Medicare fee changes and persistent inflationary pressur
Slide 4: FY27 guidance drivers and capital management
‒ Price increases on non-MBS funded tests ‒ Lab of the Future ‒ AI initiatives to drive efficiencies ‒ Workforce alignment to activity driving an improved labour ratio • Expected modest market growth, reflecting recent lower growth in Medicare services and GP attendances • Disciplined growth in prof
Slide 5: About Australian Clinical Labs
About Australian Clinical Labs ACL is a leading Australian private provider of pathology services. Our NATA accredited laboratories perform a diverse range of pathology tests each year for a range of clients including doctors, specialists, patients, hospitals and corporate clients. ACL is one of the
Slide 6: Strategy Delivering Structural Margin Improvement
STRATEGY DELIVERING STRUCTURAL MARGIN IMPROVEMENT FY26 Results Presentation Melinda McGrath, CEO and Executive Director Greg Horan, Incoming CEO Matthew Cordingley, CFO 17 August 2026
Slide 7: Contents
Contents 01 02 03 04 05 FY26 Financial & Financials Industry Outlook & Outlook Appendix Operational Highlights Growth Strategy
Slide 8: Financial & Operational Highlights
Financial & Operational Highlights Melinda McGrath CEO & Executive Director
Slide 9: Group financial highlights
Group financial highlights Resilient performance and strong cash generation support returns for shareholders 9.4% Underlying EBIT Margin in FY26 Revenue Underlying EBIT1 Underlying NPAT1 Reported NPAT $735.8m $69.2m $35.5m $24.0m -0.7% vs FY25 +1.7% vs FY25 +4.3% vs FY25 -26.8% vs FY25 (9.4% margin)
Slide 10: EBIT bridge FY25 to FY26
EBIT bridge FY25 to FY26 Earnings growth driven by operating discipline and innovation in challenging market conditions Revenue contracts that do not meet ACL Labour efficiency and return hurdles and roster management insourced public more than offset Total revenue growth hospital contracts offsetti
Slide 11: Operational highlights
Operational highlights Growth initiatives and operating efficiency gains underpin 9.4% Underlying EBIT margin, 20bp increase YoY Revenue growth levers Operating efficiency benefits Billing digitalisation (LIS-linked): upfront billing & pricing control Network optimisation & efficiency programs deliv
Slide 12: Financials
Financials Matthew Cordingley CFO 7
Slide 13: Profit and Loss
Profit and Loss Increased Underlying NPAT by 4.3% in a low growth environment driven by revenue initiatives, increased efficiency and cost reductions Actual Actual AUD in millions FY26 FY25 % Growth 2H FY26 1H FY26 Highlights Total Revenue 735.8 741.3 -0.7% 370.4 365.4 Revenue outcome driven by: Und
Slide 14: Cash Flow
Cash Flow Strong cash conversion underpinning $47.1m returned to shareholders in dividends and buybacks Operating CF / Cash EBITDA Highlights Free cash flow before interest, tax and financing of $64.7m1 Operating cash flow to Cash EBITDA of 119.2%, continuing strong track record of cash conversion R
Slide 15: Balance Sheet
Balance Sheet Stable cash position and conservatively leveraged at only 0.5x EBITDA1 Highlights Highlights Net Debt (excluding lease liabilities) of $37.4m after return to shareholders of $47.1m (share buybacks $21.8m, dividends $25.3m) and AIC settlement of $6.2m Gearing at 30 June 2026 was 0.51x U
Slide 16: Industry Outlook & Growth Strategy
Industry Outlook & Growth Strategy Greg Horan Incoming CEO 11
Slide 17: Industry outlook
Industry outlook Pathology yield per appointment offsetting low GP attendance growth Pathology episodes1 (#m, FY09–FY26F) GP attendances2 (#m, FY09–FY26F) COVID-19 COVID-19 8.3% FY26 25.4% Shortfall FY26 to Trend Shortfall to Trend Referral volumes negatively impacted by B12 / Urine fee cuts in FY26
Slide 18: Offsetting industry headwinds
Offsetting industry headwinds Business resilience securing margins, with strategic innovation driving improvement Revenue & market growth Operational improvements Medicare indexation support Lab of the Future • Lobbying for full indexation • 24/7 lab now processes +50% of routine work • Continuing t
Slide 19: Growth strategy
Growth strategy Disciplined value creation from a resilient national platform OUR COMPETITIVE The Single Laboratory Information System ADVANTAGE OUR STRATEGIC Disciplined network Strategic New Strategic Acquisitions Revenue Initiatives Operational PILLARS expansion Business Improvement OUR Network a
Slide 20: Outlook
Outlook Greg Horan Incoming CEO 15
Slide 21: FY27 guidance
FY27 guidance Key strategic initiatives will drive margins back to current levels in FY28 Strategic execution offsetting industry headwinds and supporting margin stability FY27 guidance reflects: FY27 guidance • Execution of ongoing strategic initiatives to offset labour costs from gender undervalua
Slide 22: Innovative, resilient and margin-focused
Innovative, resilient and margin-focused Disciplined value creation from one national platform 01 02 03 04 Driving cash to the bottom line as Proven management execution Automation & AI accelerated High-quality earnings & balance the market recovers through the cycle through single national LIS shee
Slide 23: Appendix
Appendix Clinical
Slide 24: Reconciliations
Reconciliations Reported & Underlying EBITDA, EBIT and NPAT AIC settlement, prior period labour and legal fees Adjustments between reported and underlying reflect: • A settlement was reached between ACL and the Australian Information Commissioner (AIC) to resolve the civil penalty proceeding commenc
Slide 25: Reconciliations
Reconciliations AASB 16 to pre-AASB 16 20
Slide 26: Glossary
Glossary Key terms and abbreviations used throughout this presentation Term Definition Term Definition ACC Approved Collection Centre LIS Laboratory Information System – ACL's single national platform ACL Australian Clinical Labs Limited (ASX: ACL) LTIFR Lost time injury frequency rate AIC Australia
Slide 27: Important notice and disclaimer
Important notice and disclaimer Summary information Certain figures, amounts, percentages, estimates, calculations of value and fractions provided in This Presentation contains summary information about Australian Clinical Labs Limited (ACN this Presentation are subject to the effect of rounding. Ac
Slide 28: Thank You
Thank You Contact Matthew Cordingley, Chief Financial Officer Matthew.Cordingley@clinicallabs.com.au
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