Investor Presentaiton
Solid performance against broad ambitions Australian
Unity
Continued to progress strategy
of portfolio diversification
Revenue and other income
of $1.6 billion, up 8.2%
"
Considerable investment in human services operations, including a significant improvement in the Home & Disability
Services (HDS) business; successful navigation of an uncertain regulatory period for the health insurance business;
and progressed person-centred, outcome-focused healthcare services
Significantly progressed the realisation of real-property social infrastructure assets, in particular the Herston Quarter
precinct in Brisbane, Queensland and established a Social Infrastructure Development Group
Progressing a strategy of developing a thematically linked, commercially sustainable portfolio of businesses grouped
into platforms to achieve customer, financial and operating synergies
Overall revenue growth generated by the Group's operating businesses, up $35.6 million on the prior corresponding
period, and solid investment returns, up $19.9 million, were bolstered by a $66.5 million increase in benefit fund
revenue. Within the benefit funds, growth in premiums and other revenue of $14.3 million was supported by
$52.2 million in higher investment returns
Sound revenue growth in IAL (up 11.0%) with HDS strengthening performance year-on-year and Wealth & Capital
Markets performing well in a competitive and challenging environment (up 6.2%)
Adjusted EBITDA¹ of $93.0 million, up 135.6%
10
Profit after tax up 2.8%
to $53.0 million
Operating expenses decreased by $45.0 million compared to the prior corresponding period
Significant improvement in the aggregate trading position, with operating earnings from continuing operations for
the year of $61.8 million
Results influenced by the realisation of benefits arising from the extensive business transformation program
commenced in the prior year, and the abovementioned improvement in the HDS business
2018 result included a $66.9 million profit from discontinued operations arising from the sale of the Group's
corporate health insurance subsidiary, Grand United Corporate Health Limited
"
Excluding this impact, net profit after tax from continuing operations was $53.0 million, up $68.3 million
(incl. sale impact of GUCH)
1 Adjusted EBITDA: the measure the Group uses in assessing the operating performance of its business segments. This measurement basis excludes the effects of
depreciation and amortisation, interest on external borrowings and investment income. It also excludes non-recurring expenditure. See note 1 to the Consolidated Financial
Statements in Australian Unity Limited's Annual Report for the Financial Year to 30 June 2019.
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