Slide 1: 1H17 results
1H17 results • John Livingston (CEO) • Craig Bremner (CFO) 23 February 2017
Slide 2: Profit & loss
Profit & loss Underlying Pro forma $ millions, Dec Change ($m) Change (%) 1H17 1H16 Total revenue 88.6 82.1 6.5 7.9% Total expenses (71.7) (65.1) (6.6) 10.1% EBITDA 16.9 17.0 (0.1) (0.6%) Depreciation (4.6) (3.9) (0.7) 17.9% EBITA 12.2 13.1 (0.9) (6.9%) Amortisation (0.3) (0.3) 0.0 0.0% EBIT 11.9 12
Slide 3: Cashflow
Cashflow Change $ millions, June year end 1H17 1H16 (%) Operating cashflows 11.3 5.7 99.6% Investing cashflows (10.3) (10.5) (1.9%) Financing cashflows (3.2) 8.9 (135.7)% • 1H17 investing cashflows include WDR/SWMRI acquisition • 1H17 financing cashflows include $5.8m FY16 final dividend payment (1H
Slide 4: Balance sheet
Balance sheet Actual Actual Change $ millions 31 Dec-2016 31 Dec-2015 (%) Cash and cash equivalents 21.4 13.7 56.2% Conservative gearing Trade and other receivables 6.6 4.4 50.0% Other current assets 4.1 2.9 41.4% • Cash increase driven by no 1H16 dividend Total current assets 32.2 21.0 53.3% paymen
Slide 5: Industry volume growth is trending up
Industry volume growth is trending up • Australia’s population forecast to grow 1.5% (CAGR) between 2015 and 2030, while people aged over 65 years forecast to grow at a 3.0% (CAGR) over the same period1 • IDX examination volume growth (Medicare funded, patient funded and reporting contracts) was up
Slide 6: 1H17: Delivering on our strategic plan
1H17: Delivering on our strategic plan • Successfully integrated Western District Radiology and South West MRI • Expanded capacity in Toowoomba and Sunbury sites • Signed five, 5 year contracts with the West Australian Country Health Service relating to the In December 2016 South Coast Radiology pro
Slide 7: Breakdown of expenses
Breakdown of expenses Statutory Statutory Change • Key expenditure movements (outside of WDR $ millions 1H17 1H16 (%) and SMWRI acquisition): Expenses Consumables 4.7 4.2 11.5% – Employee Benefits Employee Benefits Depreciation & Amortisation 51.6 47.0 9.8% 15.7% • Previously announced investment in
Slide 8: Capex
Capex • $7m capex in 1H17 ($11m : 1H16) – Maintenance capex of $6.0m as planned • Medical Equipment $3.5m • Fitout of hospitals/practices $1.0m • IT systems $1.3m – Growth capex of $1.0m Convenience enhances an overall patient service experience. The new Lake Imaging website allows patients to reque
Slide 9: Outlook
Outlook Regulatory • Further delay and consultation around Government’s proposed reduction in bulk billing incentive for diagnostic imaging – Any changes have been deferred until 1 July 2017 – Intention remains to invest $50m back into specific examinations • Reintroduction of MBS rebate indexation
Slide 10: Questions
Questions 10
Slide 11: Appendix
Appendix 11
Slide 12: Underlying NPAT reconciliation
Underlying NPAT reconciliation $ millions, Dec Note 1H17 1H16 Actual NPAT 8.7 3.8 Listed company expenses [1] - (0.3) Transaction costs expensed [2] - 6.4 Change in financing structure and financing costs [3] - 0.2 Fair Value Gain on Acquisition [4] (1.2) Income tax impact - (2.1) Pro forma NPAT 7.5
Slide 13: Statutory results overview
Statutory results overview Statutory $ millions, Dec 1H17 1H16 Change ($m) Change (%) Total revenue 88.6 82.1 6.5 7.9 Total expenses (71.7) (71.1) 0.6 0.8 EBITDA 16.9 11.0 5.9 52.4 Depreciation 4.6 3.9 0.7 17.9 EBITA 12.2 7.0 5.2 74.3 Amortisation 0.3 0.3 0.0 0.0 Fair Value Gain on Acquisition (1.2)
Slide 14: 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 15: Contact us
Contact us Corporate Investors & Media John Livingston Ronn Bechler, Market Eye Managing Director & CEO P: +61 400 009 774 P: +61 3 5339 0704 E: ronn.bechler@marketeye.com.au