Vir tus He alth Annua l Ge ne r a l Me e ting – CE O Pr e se nta tion 6 Nove mbe r 2013 Sue Cha nnon
Disc laime r The material in this presentation has been prepared by Virtus Health Limited ABN 80 129 643 492 (“Virtus Health”) and is general background information about Virtus Health’s activities current at the date of this presentation. The information is given in summary form and does not purport to be complete. Information in this presentation, including forecast financial information should not be considered as advice or a recommendation to investors or potential investors and does not take into account investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional advice when deciding if an investment is appropriate. Persons needing advice should consult their stockbroker, solicitor, accountant or other independent financial advisor. The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe such restrictions. This presentation does not constitute, or form part of, an offer to sell or the solicitation of an offer to subscribe for or buy any securities, nor the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issue or transfer of the securities referred to in this presentation in any jurisdiction in contravention of applicable law. Certain statements made in this presentation are forward-looking statements. These forward-looking statements are not historical facts but rather are based on Virtus Health Limited’s current expectations, estimates and projections about the industry in which Virtus Health operates, and beliefs and assumptions. Words such as "anticipates”, "expects”, "intends,", "plans”, "believes”, "seeks”, "estimates”, and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the control of Virtus Health, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward- looking statements. Virtus Health cautions investors and potential investors not to place undue reliance on these forward-looking statements, which reflect the view of Virtus Health only as of the date of this presentation. The forward-looking statements made in this presentation relate only to events as of the date on which the statements are made. Virtus Health will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this presentation except as required by law or by any appropriate regulatory authority. 2 2
Virtus He alth Ove rvie w Austra lia n le a de r in Assiste d Re produc tive Se rvic e s a s we ll a s spe c ia lise d dia g nostic s a nd da y hospita l se rvic e s Assists ~4,000 c o uple s e a c h ye a r to a c hie ve the ir dre a m o f ha ving a b a b y – Ric h histo ry o f sc ie ntific a nd c linic a l e xc e lle nc e – Assiste d Re produc tive Se rvic e s is a g rowing a re a of he a lthc a re Multiple de mo g ra phic a nd so c ia l tre nds driving inc re a sing use o f Assiste d Re pro duc tive Se rvic e s – I VF Cyc le s in Austra lia g re w a t a c o mpo und a nnua l g ro wth ra te o f 4.4% b e twe e n 2007 a nd L T M to June 2013 (1) – Virtus is the la rg e st provide r of Assiste d Re produc tive Se rvic e s in Austra lia Cyc le s pe rfo rme d in Austra lia (2) a nd o pe ra te s in Austra lia ’ s la rg e st sta te s fo r I – 36% sha re o f I VF VF Cyc le s One o f two le a ding pro vide rs in e a c h sta te in whic h it o pe ra te s – I nc re a se d c o lle c tive ma rke t sha re a c ro ss NSW, Vic a nd Qld fro m 43.9% in F Y2012 to 45.0% in F Y2013 – Strong fina nc ia l tra c k re c ord with ma rke t c a pita lisa tion of ~$650M T ra c k re c o rd o f re ve nue a nd E BI T DA g ro wth with stro ng c a sh flo w g e ne ra tio n – Numb e r o f c urre nt a nd future g ro wth o ppo rtunitie s – Note s: (1) Ba se d o n Me d ic a re Be ne fit Sc he d ule I te m Sta tistic Re p o rts fo r ite ms 13200, 13201 a nd 13202 (2) F o r F Y2013 fina nc ia l ye a r, b a se d o n Me d ic a re Be ne fit Sc he d ule I te m Sta tistic Re p o rts fo r ite ms 13200, 13201 a nd 13202 3
Ope rational Highlights in F Y2013 vic e s to patie nts – thre e ne w full Continue d to e xpand our ge ogr aphic footpr int and se r 1 se rvic e c linic s; five ne w c o ntra c te d F e rtility Spe c ia lists ove me nt – c o ntinue d to impro ve o ur sa le s a nd ma rke ting a c tivitie s Mar ke t shar e impr 2 e ”) – thre e ne w c e ntre s 3 Suc c e ssfully r olle d out a low c ost mode l of c ar e (“T he F e r tility Ce ntr o pe ne d in Ne w So uth Wa le s a nd Vic to ria , a nd e xpa nde d o ur Que e nsla nd c e ntre to me e t g ro wing de ma nd xpande d diagnostic c apabilitie s – a dde d ne w te sts inc luding Vit D, na tura l kille r c e ll te sting 4 E a nd no n inva sive pre na ta l te sting day hospitals – the a tre utilisa tio n, 5 Continue d foc us on impr oving the ope r ations of our o pe ra tio na l e ffic ie nc ie s a nd a ttra c ting ne w spe c ia lists Suc c e ssfully liste d on the ASX – a sig nific a nt mile sto ne fo r Virtus He a lth 6 4
F Y2013 F inanc ial Highlights e sults (1) Pr o for ma F Y2013 financ ial r Vs. F Y2012 Pr o for ma Re ve nue +9.1% E BIT DA +8.7% A (2) NPAT +10.2% PS (c ps) (3) E +10.3% Note s: 1. T he a p p e nd ix inc lud e s re c o nc ilia tio n o f p ro fo rma fina nc ia l re sults to sta tuto ry fina nc ia l re sults NPAT A e xc lud e s the a mo rtisa tio n o f a c q uire d b ra nd na me s o f $0.7 millio n a fte r ta x 2. 3. E PS a ssume s 79,536,601 sha re s o n issue fo r full ye a r 5
F Y2013 Prospe c tus F ore c asts De live re d e sults (1) Pr o for ma F Y2013 financ ial r Pr ospe c tus Ac tua l Va r ia nc e Re ve nue 184.5 187.3 +1.5% E BIT DA 55.3 56.1 +1.4% A (2) NPAT 27.3 28.0 +2.6% PS (c ps) (3) E 33.4 34.3 +2.7% Note s: 1. T he a p p e nd ix inc lud e s re c o nc ilia tio n o f p ro fo rma fina nc ia l re sults to sta tuto ry fina nc ia l re sults 2. NPAT A e xc lud e s the a mo rtisa tio n o f a c q uire d b ra nd na me s o f $0.7 millio n a fte r ta x E PS a ssume s 79,536,601 sha re s in issue fo r full ye a r 3. 6
2. F Y2013 Re sult De tail
IVF Cyc le Pe rformanc e IVF Cyc le s inc r e a se d 3.8% to 14,342 in F Y2013 Vir tus IVF Cyc le s 1 Vir tus IVF Cyc le s inc r e a se d 3.8% Numb e r o f IVF Cyc le s Virtus ta king ma rke t sha re Ra mp-up o f T he F e rtility Ce ntre pro g re ssing we ll IVF Cyc le s a t F ull Se rvic e c linic s c o ntinue to g ro w – stro ng g ro wth a mo ng ne w c o ntra c te d F e rtility Spe c ia lists (2) 2 Ove r a ll E a st Coa st ma r ke t mixe d – Vir tus be ne fiting fr om sc a le a c r oss ma r ke ts Que e nsla nd – ve ry stro ng first ha lf whic h ha s mo de ra te d in 2H F Y2013 Ne w So uth Wa le s – 10% g ro wth in 4Q F Y2013 fo llo wing we a ke r 1H F Y2013 Vic to ria – ma rke t fla t b ut se e ing c o ntinue d g ro wth in ne w pa tie nt re g istra tio ns (1) Note : (1) Re p re se nts Virtus’ imp lie d sha re o f the I VF Cyc le s c o nd uc te d in Ne w So uth Wa le s, Vic to ria a nd Que e nsla nd b a se d o n Me d ic a re Be ne fit Sc he d ule I te m Sta tistic Re p o rts fo r ite ms 13200, 13201 a nd 13202. (2) Ne w c o ntra c te d F e rtility Sp e c ia lists a re d e fine d a s tho se F e rtility Sp e c ia lists c o ntra c te d b y Virtus fro m F Y2010 o nwa rd s 8
Re ve nue Growth Pr o for ma r e ve nue inc r e a se d 9.1% to $187.3 million in F Y2013 Re ve nue 1 Re ve nue g r owth unde r pinne d by IVF Cyc le g r owth a nd a n inc r e a se in tota l r e ve nue pe r IVF Cyc le $ millio n IVF Cyc le g ro wth o f 3.8% Ave ra g e re ve nue pe r IVF Cyc le inc re a se d b y 5.2% 187.3 171.6 2 Spe c ia lise d dia g nostic s r e ve nue c ontinue d to g r ow 144.0 140.8 Co nsiste nt with histo ric tre nds, Virtus sa w hig he r usa g e o f spe c ia lise d dia g no stic te sting b y F e rtility Spe c ia lists to pa tie nts 3 Da y hospita l r e ve nue c ontinue d to g r ow Gro wth prima rily drive n b y hig he r thro ug hput fro m Assiste d Re pro duc tive Se rvic e s a nd o the r me dic a l spe c ia ltie s FY2010 FY2011 FY2012 FY2013 Total Revenue $10,741 $11,453 $12,420 $13,060 per IVF Cycle 9
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