Third Age Health Services (TAH) Q1 2025 TU earnings summary

Executive summary

• Underlying NPATA for Q1 FY25 reached $619k, up 109% year-over-year and 26% sequentially from Q4 FY24.

• Group revenue increased 27.9% year-over-year to $4,511k and 12.6% sequentially.

• Patient population grew 7% year-over-year to 25,900, with ARC patients up 41% to 5,305.

• Acquired 70% of Hub Aged Care, adding 10 facilities and 795 residents.

Financial highlights

• Underlying EBIT rose 87.9% year-over-year to $915k and 25.9% sequentially.

• EBIT margin improved to 20.3% from 13.8% year-over-year.

• Statutory NPAT increased 140.1% year-over-year to $521k and 30.1% sequentially.

• Cash decreased to $1,521k; loan balance increased to $1,926k due to acquisition.

Outlook and guidance

• Fully imputed Q1 FY25 dividend of 3.28 cents per share declared, representing 70% of net profit after tax attributable to shareholders.

• Gradual move towards a dividend payout target of 50-60% as previously disclosed.