Monash Ivf Group Ltd · ASX:MVF
Monash Ivf — H1 2022 Earnings Presentation
26 slides from Monash Ivf's earnings presentation, Feb 17, 2022
Slide 1: 1H22 Results Presentation
1H22 Results Presentation INS Monash Ws Group Leading the future of reproduc
Slide 2: Disclaimer
Disclaimer The presentation has been prepared by Monash IVF Group Limited (ACN 169 802 309) (‘MVF") (including its subsidiaries, affliates and associated companies) and provides general background information about MVF's activities as at the date of this presentation. The information does not purpor
Slide 3: Key highlights 1H22
Key highlights 1H22 Underlying profit ahead of guidance, underpinned by further market share gains and record ARS Industry volumes Adjusted NPAT 2)®) of $13.4m, 11.7% above 1H21 \ d * Continued IVF industry volume growth®™) - 3.6% 1H22 growth following 23.8% growth in 1H21 * Above Industry MVF domes
Slide 4: Attractive industry fundamentals
Attractive industry fundamentals Supporting volume growth in FY2022 and beyond Advanced maternal age * MVF average maternal age is 37 and has remained at high levels since the start of the Pandemic * Supports maintenance and continued growth in the IVF sector during and post Pandemic Behavioural cha
Slide 5: Q3FY20 Q4FY20 Q1FY21
Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 80% 28,229 63.5% 60% 20,976 22,533 27,431 22,102 40% 24.6% 23.0% 25.5% 20% 25,189 7.4% 19,976 20,110 18,690 17,614 0% -0.7% -0.3% -20% CY17 CY18 CY19 CY20 CY21 -21.9% Jan-Jun Jul-Dec -40% • •
Slide 6: MVF Market Share - ARS Australia
MVF Market Share - ARS Australia MVF stimulated cycle growth more than doubled Industry growth + MVF Australian 1H22 Stimulated Cycles" increased by 6.6% due to Volume Market e IVF industry® growth of 3.6% and market share gains in MVFs Key markets®), Key Markets® Market Share Stimulated Cycles”) +
Slide 7: Financial Results
Financial Results e IN @ Monash IVF Group
Slide 8: 1H21 to 1H22 revenue bridge
100 0.1 3.7 0.5 - 2.7 95 2.1 101.0 $M 2.1 90 90.8 85 1H21 Market Size Growth MVF Market Share Growth Price & Mix International Ultrasound DSU & Other (1) 1H22 ▪ ▪ ▪ ▪ ▪
Slide 9: 1H22 Profit & Loss overview
1H22 Profit & Loss overview Adjusted NPAT growth of 11.7% compared to pop ¢ — Adjusted NPAT 2) of $13.4m ahead of $13.0m profit guidance and 11.7% Adjusted ($m) 1H22 1H21 %change higher than 1H21 Group revenue 101.0 90.8 11.2% ¢ — Revenue of $101.0m, an increase of 11.2%, largely driven by Group sti
Slide 10: 1H22 Cash flow overview
1H22 Cash flow overview Solid operating cash flow generation continues 7m. % change Free cash flow” of $9.7m, an increase of $3.3m or 52% excluding Job Reported EBITDA 25.2 287 (12.2%) Keeper Subsidy receipts in 1H21 Movement in working capital (43) (5.0) (14.0%) Income taxes paid (6.3) (3.0) 110.0%
Slide 11: Capital Management Overview
Capital Management Ove Positioned for organic and non-organic growth opportunities Balance Sheet ($m) 31-Dec-21 30 June 21° Cash and cash equivalents (21.60%) Other current assets aa ee 17.50% Current lease liabilities (6.2) (5.8) (10.3%) Current liabilities (28.7) (336) (14.6%) Current borrowings -
Slide 12: Operational Review
Operational Review
Slide 13: Domestic ARS operations Update
Domestic ARS operations Update Clinical pregnancy rates continue to improve across the Group growing from 32.6% in CY18 to 37.2% The “Monash Way” as developed by our Group Scientific Advisory Committee is well established across our Group and a key driver of improvements in pregnancy rates Initiativ
Slide 14: Domestic ARS operations Update
Domestic ARS operations Update Focus remains on ensuring strong Doctor Engagement is maintained and grown through our value proposition to Doctors including patient experience, doctor experience and patient acquisition marketing activities * Four new Fertility Specialists joined Monash IVF to delive
Slide 15: Domestic ARS operations Update
Domestic ARS operations Update New and updated clinical infrastructure is paramount to execution of our strategic growth objectives * Transformation of Melbourne footprint is well advanced with new fertility clinic and day hospital expected to open in Cremorne towards early FY 23. This will consolid
Slide 16: Domestic ARS operations Update
Domestic ARS operations Update Continued investment in Brand & Marketing driving future patient pipeline + Marketing strategy continues to focus on creative direct to consumer patient marketing activities that will continue to build the Monash IVF brand identity and value proposition for current and
Slide 17: Diagnostic Ultrasound Performance
Diagnostic Ultrasound Performance Ultrasound scan activity impacted by COVID-19 in Sydney and Melbourne . FY2022 ultrasound volumes declined by 4.2% to 42,118 compared to pep and Non-invasive Pre- natal testing (NIPT) declined by 2.1% to 7,769. Margin decline largely due to health & safety protocols
Slide 18: ARS International Operational Performance
ARS International Operational Performance South East Asian expansion strategy progressing despite continued COVID-19 challenges * — KL Fertility continued to be impacted by weak macroeconomic conditions and Q1 FY22 movement control orders in Kuala Lumpur in response to the COVID-19 situation; * Q2KL
Slide 19: Strategy and Outlook
Strategy and Outlook e IN @ Monash IVF Group
Slide 20: Our Mission
Our Mission We help bring life to the world Vision 2026 The most admired™ reproductive care provider in the world” Best in class fertility solutions, diagnostios, genetics and pathology. Our Pillars > OBC Dootor Pationt Scientific People Partnerships Experience Leadership Engagement & N Internationa
Slide 21: Strategy & Outlook
Strategy & Outlook Although the COVID-19 Pandemic continues to evolve and present challenges, there remains a fundamental shift in the Community whereby the mindset of our patient cohort continues to focus on family, health and wellbeing resulting in prioritization of family creation and extension.
Slide 22: Appendices
Appendices e @ Monash IVF Group
Slide 23: Treatment Mix
Treatment Mix Monash IVF Group - Australia Stimulated cycles 5,257 4933 660% Cancelled cycles 601 480 25.10% Frozen embryo transfers 3,740 3,309 18.00% Total Australian Patient Treatments 9598 8722 10.00% Monash IVF Group - International Stimulated cycles 440 546, (19.4%) Cancelled cycles 27 25 8.00
Slide 24: 1H22 Earnings reconciliation
1H22 Earnings reconciliation Statutory earnings adjusted for certain non-regular items $m EBITDA Reported Statutory 253 Acquisition transaction costs 1.0 Acquisition Earn-out fair value 05 Job Keeper Subsidy - Sydney CBD fertility clinic commissioning costs - Adjusted 26.8 EBIT 1H22 NPAT 1H21 NPAT 1
Slide 25: Overview of Monash IVF Group
Overview of Monash IVF Group RS Austr. 24 clinics & 3 services centres 98 Fertility Specialists (9 trainees) 7 Australian States / Territories e Monash IVF repremed ithe an efor eee ARS Internationa! 4clinics 15 Fertility Specialists (1 trainee) international cities KL Ferriuity Centre Monash IVF Gr
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