Monash IVF Group Limited (ASX:MVF) Reports Strong FY24 Results
Financial Performance Highlights
Monash IVF Group Limited (ASX:MVF) has announced robust financial performance for FY24, reporting a revenue increase of 19.4% and underlying NPAT growth of 17.4% to $29.9 million. This marks a record underlying result since the company’s listing in 2014. The growth stemmed from all three business segments: Australian Domestic IVF, Women’s Imaging, and International IVF.
The Australian IVF segment notably increased stimulated cycles by 10.4%, bolstered by industry growth and successful acquisitions in Perth. The company now holds a 21.7% share of the Australian market, up 1.5% year-on-year.
Recent Challenges and Developments
Monash IVF’s recent settlement regarding the NiPGT class action resulted in a net loss impact of $32.6 million on FY24 reported results. Following subsequent negotiations, this figure was reduced by $3.6 million. The settlement allows the group to pursue future growth with renewed certainty despite facing challenges during the class action period.
Trading Update and Future Outlook
For FY25, Monash IVF reports positive trading dynamics, with Australian stimulated cycles up by 2.6% year-to-date through October 2024. The International IVF segment witnessed an impressive 19.9% increase in stimulated cycles. The company anticipates underlying NPAT for the first half of FY25 to be between $15.5 million and $16.0 million, reflecting ongoing growth against FY24’s comparative period.
Looking ahead, the Australian IVF industry is set to benefit from evolving demand drivers including genetics and a rise in patient demographics like the LGBTQIA+ community. Monash IVF remains committed to improving margins and enhancing patient management systems.
CEO Michael Knaap stated, “Our robust operating results demonstrate the strong underlying demand for our services. We are optimistic about growth opportunities ahead in both domestic and international markets.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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