Investor Presentaiton
1H FY23 FINANCIAL HIGHLIGHTS
19.2% growth in operating revenue reflects slow gradual recovery in patient volumes from the
COVID-19 pandemic and the acquisition of the X-Ray Group, Peloton Radiology and Horizon Radiology
58.2%
increase in
statutory
36.4%
decline in
2.4%
increase in
48.0%
decline in
operating
operating
operating
19.2%
increase in
operating
56.0%
increase
Net debt /
in
EBITDA
(pre-AASB
NPAT
NPAT
EBITDA
diluted
EPS
revenue
free cash
16)
flow
$16.1m
$7.8m
$39.8m
3.3 cps
$215.1m
38.5m
3.1x
A challenging 1H FY23 result driven by:
Slow gradual recovery of patient volumes. Further recovery expected to drive positive operating leverage
and improved profitability over time
Limited price increases with Medicare indexation of 1.6% well below inflation. No inflation adjustment
from the Accident Compensation Corporation (ACC) and District Health Boards (DHBs) and limited
inflation indexation from private health insurers in New Zealand. Selective price increases taken where
possible while remaining market competitive
Significant cost pressures, especially higher labour costs, driven by inflation and labour market supply
constraints, together with higher interest funding costs. Management are focused on containing and
reducing costs wherever possible
Operating EBITDA margin decrease of 300 bps compared to the prior corresponding period (230 bps
compared to FY22). Both Peloton Radiology and Horizon Radiology acquisitions experiencing similar
volume trends as IDX's existing businesses in both QLD and NZ respectively
Statutory NPAT of $16.1 million after writeback of non-operating provisions, transaction and integration
costs, amortisation of customer contracts and other costs, net of tax, of $8.3 million
The Group declared a fully franked interim dividend of 2.5 cps (1H FY22 4.0 cps), representing 74.4%
of Operating NPAT
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