Healius Limited · ASX:HLS
Healius — Primary Health Care — 1H 2005 Earnings Presentation
10 slides from Healius's earnings presentation, Feb 8, 2005
Slide 1: Primary Health Care Ltd Half Year Results Presentation
Primary Health Care Ltd Half Year Ended 31 December 2004 Results Presentation 8 February 2005
Slide 2: Financial Results 1H 2005
Financial Results 1H 2005 z Summary – EBITDA and EBITA (excl. investments) up 28% and 31% over prior period respectively – Driven largely by organic revenue growth & strong margin gains ($ Million, except EPS) 1H2005 growth 1H2004 growth 1H2003 Sales revenue (exc property/investments) 83.3 16% 72.0
Slide 3: Financial Results 1H 2005 - Segmental
Financial Results 1H 2005 ($ 000s) 1H 2005 1H 2004 1H 2003 z Segmental Medical centres 28,554 21,628 16,972 - Both medical centres Pathology 6,160 5,463 4,203 and pathology Head office expenses (3,637) (2,736) (2,468) businesses Sale of investments/properties 2,515 - 2,597 performing well EBITDA 33,
Slide 4: Financial Results 1H 2005 - Per Share Results
Financial Results 1H 2005 z Per Share Results – Reported earnings per share up 54% on prior period to 12.17cps – Normalised earnings per share up 36% on prior period to 17.68cps (Normalised to remove impact of amortisation of goodwill) – Final dividend of 12.0c per share payable 14 March 2005 ( 7.5
Slide 5: Operations - Medical Centres I
Operations - Medical Centres I z Period of consolidation and improving margins – 2 new medical centres opened successfully during the six months – GP attendances up 9% to 1.429m for the six months - 1.4% related to the 2 new centres opened – Revenues up $8.3m (18%) to $53.4m for the period – Medical
Slide 6: Operations - Medical Centres II
Operations - Medical Centres II z Consolidation has highlighted strength of business – EBITDA for all centres up 32% – Margins improvment across all centres z Based upon six month contribution – “Same-centre” EBITDA growth period on period at 31% – “Same-centre” EBITDA growth period on period for ol
Slide 7: Operations – Pathology
Operations – Pathology ($ 000s) 1H 2005 growth 1H 2004 growth 1H 2003 Revenue 33,410 11% 30,172 10% 27,370 EBITDA 6,160 13% 5,463 27% 4,293 Margin 18.4% 18.1% 15.7% EBITA 5,314 13% 4,694 30% 3,613 Margin 15.9% 15.6% 13.2% - Sales growth in line with general market (Medicare figures ~ 11% growth) - M
Slide 8: Future Growth
Future Growth z 20% increase in average GP billings effective 1 Jan 2005 z Medical Centre expansion into Queensland commenced – Centre #1 to open by mid 2005 z Medical Centre expansion in Victoria continuing – Centre #2 to open 2H FY05 z Further site in Newcastle area NSW to open by mid 2005 z Negot
Slide 9: Health Communication Network (HCN)
Health Communication Network (HCN) z Offer extended to 11 February 2005. Currently hold 94.67% at a cost of $108.6m z HCN is the largest IT/Software provider in the market with 80-85% of GP’s utilising Medical Director – 16,000 doctors z Other lines of business include online health resources as wel
Slide 10: Other
Other z Medical Environment – Medicare increases appears to be increasing community bulk-billing – Continued impression is that demand for and cost of providing the full range of medical services is increasing z Funding – $175m banking facility gives PRY scope to continue to take advantage of opport