Green Cross Health Ltd · NZX:GXH
Green Cross Health — Shareholder Meeting (July 2021)
28 slides from Green Cross Health's shareholder meeting presentation, Jul 26, 2021
Slide 1: Annual Shareholders' Meeting 26 July 2021
GREEN an CROSS HEALTH Annual Shareholders’ Meeting 26 July 2021 <> thedoctors @access + GRoss HEALTH
Slide 2: Kim Ellis, Chair
Kim Ellis Chair GXH Annual Shareholders’ Meeting Presentation 26 July 2021 Pg 2
Slide 3: Board of Directors & Executives
Board of Directors & Executives Chair & Executives: Kim Ellis Rachael Newfield Ben Doshi Chair Group CEO Group CFO/ Company Secretary Other Directors: Andrew Bagnall John Bolland Ken Orr Carolyn Steele Peter Merton Peter Williams Non-Executive Director Non-Executive Director Independent Director Ind
Slide 4: Agenda
Agenda • Chair’s address • Group CEO’s address • Voting on Resolutions • General Q&A GXH Annual Shareholders’ Meeting Presentation 26 July 2021 Pg 4
Slide 5: Business Update, Results, Capital and shareholding structure, Balance sheet
Business Update Results Capital and shareholding structure Balance sheet GXH Annual Shareholders’ Meeting Presentation 26 July 2021 Pg 5
Slide 6: Rachael Newfield, Group CEO
Rachael Newfield Group CEO GXH Annual Shareholders’ Meeting Presentation 26 July 2021 Pg 6
Slide 7: Who We Are
Who We Are Working together to support healthier communities. We are passionately committed to the health and wellness of New Zealand, and to providing the best support, care and advice to our communities. This is our promise. GXH Annual Shareholders’ Meeting Presentation 26 July 2021 Pg 7
Slide 8: GXH Full Year Result - Financial Overview
GXH Full Year Result - Financial Overview Revenue Pharmacy Operating Profit $570.4m $24.1m Operating Profit / EBIT Medical Operating Profit $35.1m $9.3m Net Profit After Tax Community Health $16.8m Operating Profit (attributable to shareholders) $3.7m GXH Annual Shareholders’ Meeting Presentation 26
Slide 9: Group Revenue and Profit
Group Revenue and Profit GXH Operating Revenue ($m) Comments: • Revenue of $570.4m, flat year on year 567.2 568.5 570.4 • Operating Profit of $35.1m, up 13% 537.2 2018 2019 2020 2021 ** GXH Operating Profit ($m) 35.1 30.0 29.4 31.0 2018 2019 2020 * 2021 *2020 impacted by goodwill disposals of ‐$1.4m
Slide 10: Net Profit After Tax (attributable to shareholders)
Net Profit After Tax (attributable to shareholders) GXH Net Profit after Tax Attributable to Comments: Shareholders ($m) • NPAT attributable to shareholders of $16.8m, up 24% 16.8 16.1 15.6 13.5 2018 2019 2020 * 2021 ** *2020 impacted by goodwill disposals of ‐$1.1m (after NCI portion) and intangibl
Slide 11: Operating Cash / Investments
Operating Cash / Investments GXH Operating Cash Flow ($m) Comments: • Operating Cash of $52.1m (excl. IFRS 16) 71.8 Enabling investment ($9.2m) in: 54.3 • Cambridge pharmacies (three new holdings) • Gabriel Medical centre 52.1 • Tui Medical centre 33.1 • Richmond Health centre 31.4 34.8 2018 2019 20
Slide 12: Net Debt / Debt Capacity
Net Debt / Debt Capacity Net Debt (Borrowings Less Cash) ($m) Comments: • $35.5m improvement in Net Cash/Debt to $12.9m 12.9 • Improved working capital management has positioned GXH well to be in a net cash position and to take advantage of future investment opportunities • Debt facilities with BNZ
Slide 13: Earnings Per Share
Earnings Per Share GXH Net Profit after Tax Attributable to Comment: Shareholders (cps) • EPS at 11.7 cps, an increase of 24% on the prior year 11.3 11.7 11.0 9.4 2018 2019 2020 2021 GXH Annual Shareholders’ Results Presentation Meeting Presentation 26 25 June July 2021 2020 Pg 13
Slide 14: Divisional Plans
Divisional Plans GXH Annual Shareholders’ Meeting Presentation 26 July 2021 Pg 14
Slide 15: Pharmacy Performance
Pharmacy Performance Pharmacy Operating Revenue ($m) Comments: 341.3 340.2 336.4 • Revenue down 6% to $316.8m in the year 316.8 primarily due to the impact of COVID-19 with the reduced ability of customers to shop in-store during the various COVID-19 alert levels • Operating Profit down 4% to $24.1m
Slide 16: Pharmacy Future Focus
Pharmacy Future Focus Customer Retail Network Financial Focus Disciplines Scale Returns • Strengthen digital • Evolve retail • Optimise equity • Adapt to capability around offering to store network changing market 1.8m Living changing consumer • Leverage national conditions Rewards database behaviou
Slide 17: Medical Performance
Medical Performance Medical Operating Revenue ($m) Comments: 82.2 70.5 76.5 • Revenue up 7% to $82.2m, with organic patient growth and acquisitions 52.7 • Operating Profit up 41% to $9.3m, reflecting growth in patients and improved operational efficiency • 285,000 enrolled patients as at 31 March 20
Slide 18: Medical Future Focus
Medical Future Focus Patient Sector Network Financial Engagement Representation Scale Returns • Improve utilisation • Contribute to • Continue to build • Continuous via systematic design of NZ health The Doctors brand improvement in triaging of patients system reforms • Network and patient operation
Slide 19: Community Health Performance
Community Health Performance Community Health Operating Revenue ($m) Comments: 171.4 • Revenue up 10% to $171.4m • Operating Profit increased $2.5m to $3.7m 156.5 155.6 • Improved performance reflects strategy of 143.2 supporting clients with higher clinical needs, ongoing service improvement and im
Slide 20: Community Health Future Focus
Community Health Future Focus Service Technology Sector Financial Offering Representation Returns • Focus on higher • Harness digital • Contribute to • Continue cost clinical needs technology to design of NZ health reduction segments enhance system reforms initiatives • Expand geographic workforce •
Slide 21: Q&A
Q&A GXH Annual Shareholders’ Meeting Presentation 26 July 2021 Pg 21
Slide 22: Resolutions & Voting
Resolutions & Voting GXH Annual Shareholders’ Meeting Presentation 26 July 2021 Pg 22
Slide 23: Resolutions
Resolutions • Resolution 1: Re-election of Peter Merton • Resolution 2: Re-election of Ken Orr • Resolution 3: Remuneration of the Auditor GXH Annual Shareholders’ Meeting Presentation 26 July 2021 Pg 23
Slide 24: Resolution 1 – Re-election of Peter Merton
Resolution 1 – Re-election of Peter Merton Peter Merton to be re-elected as Director of the Company GXH Annual Shareholders’ Meeting Presentation 26 July 2021 Pg 24
Slide 25: Resolution 2 – Re-election of Ken Orr
Resolution 2 – Re-election of Ken Orr Ken Orr to be re-elected as Director of the Company GXH Annual Shareholders’ Meeting Presentation 26 July 2021 Pg 25
Slide 26: Resolution 3 – Remuneration of the Auditor
Resolution 3 – Remuneration of the Auditor To authorise the Directors to fix the remuneration of the Auditor for the ensuing year GXH Annual Shareholders’ Meeting Presentation 26 July 2021 Pg 26
Slide 27: Q&A
Q&A GXH Annual Shareholders’ Meeting Presentation 26 July 2021 Pg 27
Slide 28: Disclaimer
Disclaimer The information in this presentation was prepared by Green Cross Health Limited (GXH) with due care and attention. However, the information is supplied in summary form and is therefore not necessarily complete, and no representation is made as to the accuracy, completeness or reliability