Sonic Healthcare (SHL) AGM 2024 summary

Opening remarks and agenda

• The AGM was held on 19 November 2024, opened with acknowledgment of traditional custodians, confirmation of quorum, and hybrid attendance options with detailed participation instructions.

• Board members, auditors, and company secretary were introduced, and the minutes of the previous AGM were tabled as read.

Financial performance review

• FY24 revenue reached AUD 8,967 million, a 10% increase from FY23, with net profit at AUD 511 million, down 25% due to an 87% drop in COVID-related revenues.

• Base business revenue grew 16%, with 6% organic growth and contributions from acquisitions.

• EBITDA (excluding US West division sale gain) was AUD 1,602 million, down 6% year-on-year.

• Revenue split: USA 24%, Australia 22%, Germany 20%, Switzerland 10%, UK 7%.

• Strong balance sheet maintained, with gearing below pre-pandemic averages despite significant investments.

Board and executive committee updates

• Professor Suzanne Crowe joined the Remuneration and Nomination Committee; Professor Christine Bennett joined the Risk Management Committee.

• Mr. Lou Panaccio retired after 19 years of service; Ms. Nicola Wakefield Evans to join as independent non-executive director in February 2025.

• Board diversity objective met, with 44% female directors.