Green Cross Health (GXH) AGM Presentation summary

Key milestones and strategic initiatives

• Achieved free prescriptions for all enrolled patients and rebranded the Living Rewards loyalty programme, now exceeding 2.03 million members.

• Completed multiple acquisitions, expanding to 66 medical centres and over 423,000 enrolled patients.

• Successfully refinanced group debt facilities and invested in technology, including pharmacy robots.

• Significant refurbishments and rebranding efforts in medical centres to enhance patient care.

Financial performance overview

• Group revenue rose 2% to $503.9m, driven by acquisitive growth in Medical and strong Pharmacy performance.

• Operating profit fell 7% to $31.8m, impacted by labour cost pressures and reduced COVID-19 services.

• Net profit after tax dropped 20% to $12.0m; EPS at 8.4 cps.

• Final FY24 dividend of 2.0cps declared, following a special dividend of 28cps after a major divestment.

Divisional performance and growth

• Pharmacy revenue increased 1% to $363.6m, with operating profit down 8% due to margin pressures.

• Dispensed 36 million script items, representing over 40% of New Zealand's volume.

• Medical revenue up 5% to $140.3m, with operating profit down 8% to $15.0m.

• Continued growth in vaccination income and expansion of vaccine offerings.