Monash IVF Group Annual Report 2021

Financial Reports

Financial Overview

Revenue

$183.6m

26.3% on FY20

Adjusted EBITDA

$47.7m

37.1% on FY20

Adjusted NPAT

$23.3m

61.5% on FY20

Adjusted EBIT

$34.8m

42.6% on FY20

Reported EBITDA

$51.3m

56.2% on FY20

Reported NPAT

$25.5m

116.9% on FY20

FY21 Profit & Loss Overview

Adjusted ($m)
FY21
FY20
% Change
Group Revenue 183.6 145.4 26.3%
Adjusted EBITDA 1,2 47.7 34.8 37.1%
Adjusted EBIT 1,2 34.8 24.4 42.6%
Adjusted NPAT 1,2,3 23.3 14.4 61.5%
Reported ($m)
FY21
FY20
% Change
EBITDA 1 51.3 32.8 56.2%
Depreciation & amortisation (12.9) (11.0) (17.3%)
EBIT 38.4 21.8 75.8%
Net finance costs (2.5) (5.7) (56.1%)
Profit before tax 35.9 16.1 123.0%
Income tax expense (10.4) (4.4) (136.4%)
NPAT 3 25.5 11.8 116.9%

1. Non-IFRS measure
2. Refer to page 29 for reconciliation of Reported EBITDA, EBIT and NPAT to Adjusted EBITDA, EBIT and NPAT
3. NPAT including minority interest

FY21 Cash flow Overview

($m)
FY21
FY20
% Change
Reported EBITDA 51.3 32.8 56.4%
Movement in working capital 2.6 (100.0%)
Income taxes paid (7.2) (4.3) (67.4%)
Net operating cash flow (post tax) 44.1 31.1 41.8%
Capital expenditure (10.0) (7.5) (33.3%)
Payments for businesses/minority interest (1.3) (3.1) 58.1%
Cash flow from investing activities (11.3) (10.6) (6.6%)
Free cash flow 1 32.8 20.5 60.0%
Proceeds from issue of shares 77.5 100%
Dividends paid (13.1) (7.1) (84.5%)
Interest on borrowings (0.7) (3.5) 80.0%
Payment of lease liabilities (7.6) (7.2) (5.6%)
Proceeds/(repayment) of borrowings (17.7) (69.7) 74.6%
Other 0.3 (100%)
Cash flow from financing activities (39.1) (9.7) (303%)
Net cash flow movement (6.3) 10.8 (158%)
Closing cash balance 8.8 15.1 (41.7%)

1. Free cash flow is Net Operating cash flow (post-tax) less cash flow from investing activities

Financial Reports

Directors Report (including Remuneration Report)

Auditors Independence Declaration

Corporate Governance Statement

Consolidated Statement of Profit or Loss and Other Comprehensive Income

Consolidated Statement of Financial Position

Consolidated Statement of Changes in Equity

Consolidated Statement of Cash Flows

Notes to the Consolidated Financial Statements

Directors’ Declaration

Independent Auditor’s Report

Shareholder Information

Corporate Directory