Monash IVF Group (MVF) AGM 2025 summary

Opening remarks and agenda

• The Chair and Acting CEO opened the meeting, acknowledged traditional owners, welcomed attendees, confirmed a quorum, and outlined participation and voting procedures.

• Directors, senior executives, and auditors were introduced, and the agenda included financial and operational updates, voting, and Q&A.

Financial performance review

• Revenue grew by 6.7% to AUD 271.9 million and underlying EBITDA rose by 5.6% to AUD 66.3 million in FY2025.

• Underlying net profit after tax was AUD 27.4 million, in line with guidance, despite sector softening and adverse incidents; reported NPAT was AUD 25.7 million.

• Stimulated cycles declined by 5%, with market share losses in Victoria and Queensland, but gains in South Australia and Western Australia.

• International operations contributed about 10% of group revenue, with Southeast Asia showing growth potential.

• Pre-tax operating cashflow conversion to EBITDA was 86%.

Board and executive committee updates

• CEO Michael Knaap stepped down in May; CFO Malik Jainudeen is acting CEO.

• Dr. Victoria Atkinson appointed as new CEO, effective May 2026.

• Board renewal process is ongoing, with new director Dr. Dwayne Crombie joining in November 2025.

• No doctor losses to competitors YTD; new doctor pipeline remains positive.