Green Cross Health (GXH) H1 2025 earnings summary

Executive summary

• Operating revenue rose 4% year-over-year to $259.9m for the six months ending 30 September 2024, driven by organic and acquisitive growth in Medical and strong dispensary performance in Pharmacy.

• Operating profit (EBIT) increased 8% to $16.1m, reflecting labour efficiencies and cost management.

• Net profit after tax attributable to shareholders was reported as $5.6m in some sources and $8.1m in others, with EPS between 3.9cps and 3.93cps.

• Interim dividend of 2.5cps declared, payable 18 December 2024.

• Expanded national footprint with the addition of one pharmacy and one medical centre.

Financial highlights

• Operating cash flow rose 38% to $25.3m, supported by improved working capital management.

• Gearing ratio at 16.9% with net debt of $5.7m and undrawn debt facilities of $32.5m as of 30 September 2024.

• Cash and cash equivalents increased to $28.9m from $18.5m year-over-year.

• Profit before tax was $11.1m, compared to $10.5m in the prior year period.

• Debt/pre-IFRS16 EBITDA at 1.1x; operating profit/interest expense at 14x.

Outlook and guidance

• Focus remains on cost control, margin management, and leveraging technology to drive efficiencies.

• Continued investment in network expansion, technology, and omni-channel customer experience.

• Gradual economic recovery expected in 2025 after a stagnant second half of 2024.